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.