Algorand's price has plummeted over 20% to $0.371 after reaching a multi-year high of $0.613 earlier this month, amid rising selling pressure and declining profitability, which has dropped to 16%. Despite this bearish trend, active addresses surged from 104,000 to 190,000, indicating potential liquidation or speculative trading. Additionally, the Total Value Locked in Algorand's DeFi ecosystem fell from $245 million to $165 million, further contributing to negative market sentiment.