Algorand Social Volume Increasing

Takeaways:

• Social volume has exploded the last couple of days and so has the overall marketcap as a result. Development activity on the network has increased slightly but overall has stayed consistent.

• ALGOs marketcap is following the same trend which can be an indicator of bullish social volume that may be causing FOMO buys from other retail investors.

• One of the more likely causes for this spike can also be due to the recent announcement of AlgoFi which is a lending service built on Algorand. This gives users looking to make interest on lending another much cheaper alternative to lending on ETH.