Algorand Surges as Foundation Incentivizes DeFi Activity on Algofi

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Algorand Surges as Foundation Incentivizes DeFi Activity on Algofi
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ALGO tokens were among the few climbers on Thursday morning after AlgoFoundation introduced liquidity rewards for a new product built on Algorand. By shauryamalwa

ALGO tokens were among the few climbers on Thursday.

ALGO hit a resistance level at $1.60 in early European hours on Thursday, jumping from the $1.40 level on Wednesday night, data from CoinGecko showed.The move came hours after the Algorand Foundation, which oversees development on Algorand, announced a $3 million incentive program for Algofi,platform that relies on smart contracts to offer low-cost lending and borrowing services to users.

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