Algorand stablecoin market value grows 27.4% quarterly to $60.5 million

The market value of Algorand stablecoin increased by 27.4% in the fourth quarter, reaching $60.5 million, mainly driven by Coinify's integration of USDC on November 20th. At the same time, the xGov mainnet provided financial support for nine infrastructure projects, with a total pledged ALGO increase of 2.5% to 2 billion pieces and a circulating market value decrease of 46.7% to 974.2 million US dollars. （Messari）