DappRadar's Algorand rankings understate FOLKS price 18x versus on-chain DEX data

The leaderboard and the gap at its top

DappRadar’s Algorand page is the closest thing the network has to a public scoreboard: a leaderboard of dapps — decentralized applications that run on a blockchain rather than a central server — sorted by market cap, price, 24-hour volume and total value locked, with 24-hour, 7-day and 30-day views. Open it today and the top row reads Folks Finance at a token price of $0.0999. On Algorand’s own exchanges, the same token trades near $1.84 — an 18-fold gap between what the leaderboard reports and what the ledger shows.

The company behind the scoreboard is DappRadar¹, a dapp discovery and analytics platform that styles itself the World’s Dapp Store. According to a Tracxn company profile, it has raised $7.33 million in funding, with Lightspeed Venture Partners, Naspers and NordicNinja among the investors. Earlier rounds, per a Yahoo Finance report and the company’s own announcement, included a $2.3 million raise led by Naspers Ventures with Blockchain.com Ventures and Angel Invest Berlin in September 2019, and a $5 million Series A announced in May 2021.

Founded in 2018 and based in Kaunas, Lithuania, the company’s own materials claim more than 16,871 dapps tracked across 68-plus chains. Algorand has been part of that coverage since at least May 2022, when its rankings page first appears in the Internet Archive, and in December 2022 DappRadar extended tracking to Algorand NFTs with the announcement: 'DappRadar is excited to announce the integration of Algorand NFTs, bringing users the latest NFT landscape of the Algorand network in time.'

Today the page lists 13 dapps with 'recorded activity', against the 66 active projects DappRadar’s own earlier coverage of the chain counted — a sharper filter, a thinned roster, or both; the full directory sits behind a 'Show all' toggle that the site’s bot protection keeps out of reach of automated tools. The unique-active-wallet (UAW) column, the one metric designed to count distinct addresses actually using an app, is empty across all 13 entries.

The current roster

The page’s figures, credited to CoinGecko, DefiLlama and growthepie, mix native Algorand DeFi with a prediction market, bridges and four centralized exchanges.

Three of the top four entries are centralized exchanges, and their TVL figures are custodied customer balances on their own books, not deposits sitting in Algorand smart contracts — a distinction the page never draws, so a reader skimming for the chain’s DeFi health would overstate its on-chain footprint by orders of magnitude. The table’s bottom rows tell the honest part of the story: three dapps with single-digit dollars of daily volume still qualify as 'dapps with recorded activity'.

Where the numbers diverge

The gap at the top is not an isolated rounding error. Folks Finance’s own contracts documentation identifies asset 3203964481² as the FOLKS token — a 50,000,000-token supply matching the 'total supply of $FOLKS is fixed at 50,000,000 tokens' line¹ in its tokenomics docs — and that asset is live on both major Algorand DEXs: verified on Tinyman with about $95,500 of liquidity and roughly $4,100 of 24-hour volume at the price noted at the top, and listed on Pact across multiple pairs. Every figure on the Folks row — $891.98 million market cap, $0.0999 price, +7.22% daily change, $41.72 million volume, $59.87 million TVL — was already on display in late June, when this platform last documented the same snapshot; two months on, none of it has moved.

The market cap column does not reconcile with the supply either way: multiply the documented 50 million² tokens by the page’s price or by the on-chain price and the implied valuation is roughly $5 million or $92 million — neither close to the $891.98 million the page displays, which would imply a price near $17.84. CoinGecko, the page’s credited source, currently returns 404 for its folks-finance coin page and API endpoint alike, so the token’s figure cannot be cross-checked there at all.

The TVL column points the same direction. DeFiLlama, the page’s other cited source, puts the entire Algorand chain’s total value locked at about $26.9 million today — less than half of what the page lists for Folks Finance alone. A single protocol carrying more than twice the whole chain’s tracked TVL is impossible if both figures measured Algorand on-chain deposits, so the page’s number is not that. DeFiLlama’s own Folks Finance series has drifted between roughly $42 million and $67 million through 2026 while the page’s figure holds flat — a wide band, unsurprising for a protocol its docs describe as natively live on eight chains:

DeFiLlama monthly TVLDappRadar listed TVL

The pattern repeats down the table. Tinyman’s real TINY token (asset 2200000000³, verified on both DEXs) trades at $0.0007787 while the page shows $0.000692, and DeFiLlama tracks Tinyman’s Algorand TVL at $5.05 million against the page’s $6.11 million — same asset, same day, two different realities.

What the leaderboard gets right — and how to read around it

None of this erases what the page still does well: it is a free, no-wallet-needed directory of who is actually building on Algorand, and its coverage of the chain now spans years. The ecosystem behind the stale rows is real — the chain’s DEXs carry live liquidity and its lending hub still turns over volume daily.

But a reader treating the page as a live dashboard will come away with a distorted picture of the network’s size — most visibly, a top-row TVL larger than the whole chain’s tracked total, which cannot be if both measured the same thing (see chart). The fix is practical, because Algorand’s ledger is public: FOLKS and TINY prices can be checked directly on Tinyman or Pact, and TVL on DeFiLlama, without waiting for an aggregator feed to catch up. Until DappRadar refreshes its Algorand feed — the numbers above have held since late June — the page is best read as a roster, not a dashboard: useful for the names, unreliable for the numbers.

Source (16)

• dappradar.comDappRadar Algorand rankings
• docs.folks.financeFolks Finance contracts documentation
• docs.folks.financeFolks Finance tokenomics
• vestige.fiVestige
• api.coingecko.com
• dappradar.comJust a moment...
• docs.folks.financeWelcome to Folks Finance | Folks Finance
• docs.folks.financeFOLKS | Folks Finance
• docs.folks.financeTokenomics | Folks Finance
• dappradar.comJust a moment...
• dappradar.comJust a moment...
• alphaarcade.comAlpha Arcade | World’s Best Prediction Market 🔮
• docs.folks.financeContracts | Folks Finance
• gate.comAccess Denied
• swissborg.comSwissBorg - Buy and Sell Crypto Safely and at Low Fees
• dappradar.com10 blockchains that could replace Ethereum - Dappradar