$CHIPS now has the highest TVL on Algorand

Algorand Casino Chart on Vestige
Algorand Casino Chart on Vestige

$CHIPS Now Has The Highest TVL On Algorand

Algorand Casinos ASA token, known as $CHIPS, have since a couple days ago taken the over lead in the Algorand ecosystem in terms of total value locked (TVL). 

TVL, which is often valued in USD, commonly refers to the the total amount that has been committed to a certain platform or ecosystem. In this case it also represents the amount of liquidity provided the the liquidity pools from different decentralized exchanges, such as Tinyman or HumbleSwap.

Algorand Casino launched in early 2022 and it's the largest gambling dApp in the Algorand ecosystem. Users can play games such as poker, blackjack, and more using the $CHIPS tokens. In addition, they offer sports betting and staking possibilities through their platform. Every week they give 1000 $CHIPS to their top players.

Recent Increase in Price and TVL

The price of $CHIPS have seen a staggering 200% increase in price in the past 3 months. Algorand Casinos TVL has also grown to almost $1 million USD, taking number one position according to the numbers on Vestige. It passed $DEFLY, which has a total value locked of roughly $914,000 as of 16th of January 2023.

Algorand Casino officially made a tweet in celebration of this achievement. See below.

$CHIPS official ASA ID is 388592191. 

Article Author: Martin
Follow on Twitter: AlgoDaddy