Is $ALGO quietly becoming the next $OM?
The community has raised concerns after reports showed $52 million spent in a single quarter on operations and salaries, largely funded through ongoing token sales.
To be clear: they sold tokens on the open market to fund that $52M, and the money didn't go into the ecosystem. It went to salaries and they won't disclose exactly where.
According to DeFi Llama, $ALGO is still generating only around $350 per day in fees. (
This week FIFA moved its NFT platform off $ALGO to an EVM chain, citing better wallet support and flexibility.
The price-to-sales ratio is over 10,000 — a figure that's hard to ignore...
Show original
69.09K
155
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.