Will Algorand’s 30 Million EVM Breakthrough Send Price Soaring?

All of the decentralized applications (dApps) on Algorand’s Layer-1 chain are now made available across the broader Ethereum Virtual Machine (EVM) jurisdictions.

Right away, this enables Web3 dwellers to use popular crypto wallets like MetaMask, Rabby or Coinbase Wallet to connect with Algorand’s dApps without the need to switch networks or create dedicated wallets.

The seamless interoperability is made possible via on-chain ECDSA verification through a self-custodial smart contract. Presently, Alpha Arcade is the first dApp to go live on Algorand’s EVM-compatible xChain, with more to follow.

Opening up Algorand’s DeFi for approximately 30 million users globally, Algorand’s DeFi ecosystem immediately grew by 7% from $88.78 million to beyond $95 million in total value locked (TVL). Bouncing off $69 million as a yearly low in TVL, Algorand’s DeFi also heavily relies on stablecoin usage.

Algorand’s stablecoin market capitalization rose from $48 million at the beginning of 2026 to $82.92 million today, clearly dominated by Circle USD (USDC), taking up the lion’s share (98%) of the DeFi ecosystem. Right now, traders are assessing the odds of this TVL renaissance to reflect on Algorand’s (ALGO) market value.

Based on the daily candlesticks, Algorand’s (ALGO) price action has established extensive support between $0.07 all the way to $0.109. Now trading at roughly $0.128, the OG altcoin finds itself in a tough spot for one simple reason.

The big-time players, otherwise referred to as crypto whales, have continued to gradually sell the token, pushing the Chaikin Money Flow (CMF) to deeply negative figures for the most part of the year.

This hasn’t been the case in 2025, when the whale-sentiment measuring Chaikin Money Flow (CMF) constantly jumped around the neutral area. On the positive side, Algorand’s bulls have been attempting to retain the positive terrain since March, when Google mentioned Algorand’s chain as the most-prepared for quantum computing hazards.

In case of breaking the red-label Bollinger Band that’s present at $0.143, Algorand’s whale support would have to mimic that of August, 2025. Up 44.28% in a three-month time-frame, Algorand’s yearly returns are still in the red. That divergence could mean unrealized potential rather than a local price top, especially if access grows continuously.

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