Algorand Foundation announced Lofty AI’s TVL surpassed $100 million, ALGO targets critical $0.1040 resistance

Algorand’s native token, ALGO, has maintained its upward momentum in recent days amid renewed buying interest. As trading volume and price action both showed signs of recovery, market watchers started to eye a potential breakout. At the time this article was prepared, ALGO was trading at $0.09086, with a 24-hour trading volume of $26.1 million and a total market capitalization of $813.15 million.

Critical resistance for ALGO: $0.1040

Crypto market analyst Alpha Crypto Signal reported that ALGO continues to build on its bullish momentum, with the price rising by over 6%. According to the analyst, sustained buying pressure could play a decisive role in determining the short-term direction of the market.

Attention is now focused on the $0.1040 resistance level. A successful break above and consolidation at this threshold could further strengthen the bullish trend. Conversely, if ALGO fails to overcome this resistance, the token may enter a sideways pattern with short-term volatility.

Lofty AI marks a milestone within the Algorand ecosystem

Data shared by the Algorand Foundation highlighted a noteworthy development on the network side. For the first time, total value locked (TVL) on Lofty AI, a leading real estate tokenization platform, exceeded $100 million. This signals increased adoption of real-world asset utilization within the Algorand ecosystem.

Lofty AI has tokenized more than 180 properties spread across 21 US states. The platform has also generated over $5 million in cumulative rental income for its community of more than 40,000 investors. These figures point to the growing reach of blockchain-based fractional property ownership.

Glossary: RWA, or real-world assets, refers to representing traditional assets such as real estate as digital tokens on a blockchain. TVL, or total value locked, is a key metric showing the dollar value of assets locked within a protocol.

Bitcoin trends impact ALGO’s direction

The recent steady rise in ALGO has been driven by not only network-related developments but also broader market sentiment. The recovery seen in Bitcoin has fueled increased risk appetite among altcoin traders, and Algorand has benefited from this momentum.

Looking ahead, investors will be watching closely to see whether buying interest can push ALGO past the $0.1040 resistance. A breakout above this level could open the door to further gains, while a failure would likely see prices consolidate for some time.

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