3 Signs Algorand Is Quietly Waking Up

[00:00:00]Now, I'm sure I'm not alone in expressing frustration with Algorand's price appreciation. It The price simply hasn't matched the strength of the technology. So, a lot of people have written Algorand off, and as far as price is concerned, I kind of have, too.

[00:00:14]But, over the past few days, we've had some really important signals that show Algorand's got some life left in it.

[00:00:20]Now, any of these alone might be enough to dismiss it, but together, they might be suggesting that Algorand has some life left in it and is waking up. Now, we're going to talk about stablecoin growth. This is sign number one. Number two is tokenized bank deposits via VersaBank. And then we got some Japan regulatory positioning that is going to be big for Algorand. And I got a little teaser at the end, so a bonus content, so stay tuned to the end cuz we will cover that as well. So, if you've written off Algorand, you might want to pay attention to this. Okay, so our very first one is from BSCN. Algorand and Near Protocol see massive stablecoin growth. As of the time of this writing, and according to DeFi Llama data, Algorand and Near Protocol's stablecoin supplies are up 41% and 76% over the past week, respectively. And this was yesterday, by the way. Now, here's an important point about stablecoins. A lot of times, you see stablecoins grow as money moves out of the system, but we've seen Algorand actually increase in price, same with Near Protocol. So, the fact that there's more stablecoins entering the market into Algorand at a time when the price is increasing, and presumably people would be either selling or taking profits or not doing anything, you don't only don't buy when things are down, that says something to me. And by the way, they beat out Ripple, Stellar, and Polygon, which is pretty impressive.

[00:01:40]Here, Michael Jordan says quantum security for the win. Very important point for both of those chains. That's sign number one, but we also have a very important signal from VersaBank and Algorand. Let's dive into this. Latest SEC filing from VersaBank is really interesting. After announcing the successful completion of a pilot phase for blockchain based tokenized deposits across Algo, ETH, and XLM, it looks like VersaBank plus VersaBank USA are actively working toward a potential commercial launch. That's right, Algorand, ETH, and XLM all involved in that. Tokenized bank deposits are a massive blockchain use case bringing regulated money bank money on chain. The filing says VersaBank expects to conclude pilot testing next month, after which they plan to work with US and Canadian regulators toward commercialization.

[00:02:28]Now, that's a big deal, guys, cuz one of the things that Algorand has suffered from is a lack of transactions. This could add a tons of transactions, which would help generate revenue, which tends to lead to price action, cuz my research has shown that there's a strong correlation between chains with revenue and price appreciation. Now, our third piece of news and our third sign that Algorand might be waking up comes from the Algorand Foundation itself. And this is a strong signal out of Japan. And here, this is directly from the Algorand Foundation. Algorand already cleared Japan's regulatory bar. Now, the fourth largest economy is pulling crypto into traditional finance. 20% tax by 2028.

[00:03:07]Digital assets reclassified as financial products and the mainstream stamp of approval. Algorand is on the JVCEA green list. FSA overseen fast-tracked for Japanese exchanges. Early to the list, ready for the wave. Okay, so Algorand, one of the most green blockchains, Hedera actually beats it out, but everything else it's really near the top. It uses about the energy of I think it was like eight city blocks or 10 city blocks per year. Technically carbon neutral because of the carbon credits that it buys, which offset the car the little bit of carbon that it use. And that's a feature of the proof of stake system, which makes Algorand different say than it Well, I think Ethereum moved to proof of stake, but from other ones like like uh like Bitcoin. So, that's kind of a big deal. You know, I'm a big fan of Japan, so anytime I see Japan and Algorand in the news together, that always makes me happy. And Japan and people kind of underrate the Japan and crypto. Japan has a very strong crypto culture. Glad to see Algorand part of it and part of the the regulatory system, you know, clearing that regulatory bar is really important. Now, I promised you guys a bonus and we got a little bonus that I want to talk about from Tinyman. Now, I've been a Tinyman user for a very long time and I know back in the days of DeFi rewards, targeted DeFi rewards, the rewards were a lot better, but some interesting things coming from Tinyman.

[00:04:32]And it was very brief. They say, "You've been staking, you've been farming, you've been voting. Soon doing all three might become a little more interesting."

[00:04:40]And they got the little eyes emoji there. Now, what is that all about? It's a little bit of a mystery. I don't know what's going to to happen. Looks like people are excited. Let's go rocket face. Got to like that. Our tiny coins keep dumping. Well, the price hasn't been great. We can look at that actually. Yeah, you can see the price of tiny continually going down. It used to Now, I used to say it was great cuz it was always trading between 2 and 1/2 and 5 cents down to You know, we're beyond a 10th of a cent, so I don't even know where that puts us, but that's that's like a a thousand somewhere in the thousand five hundredth of a percent or something like that. You got to be careful with these ASAs. However, it's always entirely possible that this setup here, apparently it would involve fire staking, farming, and voting, all three perhaps. Um something might be making it more interesting. So, it could be a program that actually allows you to earn money cuz I'll tell you back in the day of targeted DeFi rewards, you know, when Algorand was doing halfway decent, I was earning like 15 bucks a day and that was on like 10,000 dollars worth of worth of DeFi stuff. So, I mean, the DeFi used to be really really good and it might even get better. So, I don't know. Watch out for this. We're going to keep an eye on that. We'll let you know because there could be a really great opportunity, but I wanted to take this time to show you some of the reasons why even though the price hasn't been very exciting, it's gone up a little bit lately, which is fun. But, even though the price hasn't been super exciting lately, I think good things are still happening on Algorand, and it's still a chain worth paying attention to. I'm FurgoBC. Thanks so much for watching, and I will see you in the future.