Fogo had a red week on the chart. The chain kept shipping under it.
Here's the 7-day onchain recap, CG and DefiLlama verified.
→ $FOGO at $0.0159
↳ down 22.39% over the past 7 days
↳ market cap $60.80M
↳ 24h volume still doing $34.12M
↳ about 3.9x off the ATH at $0.0625
↳ sell side is crowded but the order book isn't panicking
→ Chain TVL drift
↳ May 13: $3.514M
↳ May 20: $3.069M
↳ that's -12.65% in 7 days
↳ most of it tracks FOGO price, native deposits look flat
↳ feels like cleanup, not collapse
→ Top protocols on Fogo right now
↳ Ignition LST holding $2.487M, still the LST anchor
↳ Pyron at $2.109M, quietly compounding through the red candles
↳ Brasa Finance at $1.586M, second LST is real
↳ Valiant Trade at $0.961M, Vortex pools keeping spot edges open
→ Visible activity this week
↳ @ValiantTrade extended the 3x FOGO boost for another week
↳ @Pyronfi kept lending live, no liquidations cascade
↳ @velixomarket leaned into NFT culture on Fogo, sub-second finality and near-zero fees
↳ @Fogo team dropped a multi-post thread on infra as a caution-reducer
→ The thesis @Fogo leaned into
↳ "The best infrastructure reduces the amount of caution surrounding every action."
↳ real-time UX needs state that can keep up
↳ red weeks separate the campers from the builders
Whole story this week is a bear candle sitting on top of a chain that didn't flinch.
Stay Fogolized.
