|All Time High:
|The price of #ALGO today is $0.22 USD.
The lowest ALGO price for this period was $0, the highest was $0.220, and the current live price for one ALGO coin is $0.21989.
The all-time high ALGO coin price was $3.23.
Use our custom price calculator to see the hypothetical price of ALGO with market cap of BTC or other crypto coins.
|The code for Algorand is #ALGO.
Algorand is 4.7 years old.
|The current market capitalization for Algorand is $1,770,728,928.
Algorand is ranked #50 out of all coins, by market cap (and other factors).
|The trading volume is large during the past 24 hours for #ALGO.
Today's 24-hour trading volume across all exchanges for Algorand is $73,880,379.
|The circulating supply of ALGO is 8,052,741,269 coins, which is 81% of the maximum coin supply.
|ALGO is the native coin for the Algorand blockchain.
View the full list of Algorand blockchain tokens.
|ALGO is well integrated with many pairings with other cryptocurrencies and is listed on at least 41 crypto exchanges.
View #ALGO trading pairs and crypto exchanges that currently support #ALGO purchase.
Matthew Commons Appointed CFO of Algorand
Accomplished Entrepreneur, Investor and Advisor to the Blockchain Industry brings added depth to support Algorand’s future growth BOSTON, Mass., March 1, 2023 — Algorand, the pure proof-of-stake, carbon-negative Layer-1 blockchain network, today announced the appointment of Matthew Commons as Chief Financial Officer (CFO), effective February 22. Commons joins the Algorand Executive Leadership Team with responsibility for all financial matters spanning day-to-day operations, future growth initiatives, and capital management.“I have long admired Algorand’s technology, and to be able to join at a moment of strategic evolution is incredibly exciting,” said Commons. “There are tremendous opportunities for Algorand to extend its leadership across many sectors of blockchain. One of my first priorities will be to help identify strategic growth areas with the leadership team, and then ensure we have the right financial plans in place to go after them.” Commons brings more than 20 years of relevant experience to his role. Most recently he was Founder and President of Common Partners, an Executive Advisory firm for several well-known blockchain and FinTech firms. Prior to that he was Co-Founder, CEO and Chairman of Cambridge Blockchain Inc. — a company that built blockchain products for banks and institutions, which he successfully sold in 2020 to Blockchains Inc. Earlier in his career Matthew served as the foun...
AMA With Tech Leaders at Algorand Inc.
Tech leaders from Algorand, Inc. recently took part in an engaging Reddit AMA where they answered the Algorand community’s burning questions about the network’s technology and our development pipeline. The event highlighted the work our tech team is doing to maintain the continued development and improvement of the Algorand blockchain. Here is the abridged version, featuring Algorand Inc.’s talented tech team — Gary Malouf, Head of Engineering; John Jannotti, Head of Applied Research; and Paul Riegle, Chief Product Officer. u/HashMapsData2Value: Why was Go chosen as the language for the official Algorand implementation and not something else (Rust, C++, etc). Was there a particular reason for it? How do you feel about it as Rust has increasingly become the language of choice for many other repos in the burgeoning blockchain and ZKP space? (It should of course be mentioned that half the codebase is composed of C-code with Go wrappers.) Gary: In 2015–2016 when development started, the choice of Go was very clear (you will see this in other blockchains that started being built around this time period). Go provides a strong foundational platform for building on, its well-maintained, and the interoperability with C/C++ makes it a great choice given our cryptography needs. In a recent Twitter Spaces, Gary mentioned low-hanging fruit to reduce Algorand’s 3.7-second block time by 0.3–0.5 seconds. u/algonaut999: Ca...
ZTLment: Europe’s First Payments Institution Built on Blockchain
Q&A with Mads Stolberg-Larsen, Co-Founder & CEO, ZTLment ZTLment, a smart contract software company, celebrated a major milestone in October. It became the first company in Europe to be licensed to operate fully regulated payments on top of blockchain. ZTLment is now approved to use its smart contract software to move euros peer-to-peer on blockchain rails in full compliance. ZTLment’s blockchain of choice? Algorand. The regulatory implications of this license are significant, as it shows EU supervisory authorities’ willingness to accept blockchain technology. It also opens up countless doors for ZTLment to partner with innovative players within supply chain and trade finance who want to build smart contract workflows. We asked ZTLment Co-founder and CEO Mads Stolberg-Larsen about the path to achieving this milestone, some specifics about the technology, and of course, why Algorand was their blockchain of choice. Tell us more about the license — why is this significant? We have built Europe’s first payments institution on blockchain and achieved regulatory breakthrough. Securing licensing means there is an EU supervisory authority recognizing that it is possible to move fiat currency through a decentralized system, and there is end-to-end compliance in regards to the European open banking framework, Payment Service Directive 2 (PSD2). What is your vision? The ultimate goal is to make cross-border trade ...
Algorand Chosen as Public Blockchain to Support Digital Guarantees Platform in Italy
BOSTON / MILAN, Dec. 13, 2022 — Algorand Inc., a world leader in Layer-1 blockchain technology, has been selected to be the public blockchain that will support an innovative digital guarantees platform in Italy. The company today joined the Bank of Italy and the Italian insurance authority IVASS, along with more than 30 financial institutions at an event in Milan to illustrate how bank and insurance guarantees can be issued on digital ledger technologies (DLT) also known as blockchain. The event, hosted by CETIF, the Research Center for Technologies, Innovations and Finance of the Catholic University of Milan, will include presentations and live technology demonstrations as part of a three-day forum. CETIF Advisory has been leading an ecosystemic effort to develop a blockchain-based open “Digital Sureties” platform that will serve the needs of Italy’s banking and insurance markets. The new platform is expected to become operational in early 2023 and will be the first time an EU Member State enables the use of blockchain technology for bank and insurance guarantees. Algorand is the only public blockchain that the Digital Sureties platform uses. It is expected that a significant percentage of bank and insurance guarantees will leverage digital ledger technologies as part of Italy’s National Recovery and Resilience Plan (NRRP). The EU allocated roughly 200B Euros to Italy, the largest allocation made to any country...
The Cool, Fun and Amazing Things to Experience at Decipher 2022
Decipher 2022 is almost here, which means from Nov. 28 to 30, attendees in Dubai can watch more than 50 sessions and hear from more than 120 speakers! Decipher will feature exciting new announcements, showcases of technology and panel discussions with some of the greatest minds in blockchain discussing the future of Algorand and the crypto industry as a whole. — The On Ramp. — The On Ramp will be a dedicated space where attendees can get hands-on experience with the Algorand blockchain. Set up your Algorand wallet, with MyAlgo Wallet and Pera: At this station you can set up a decentralized and secure wallet for all your Algorand blockchain needs., Get hands-on with play-to-earn games: Try out a number of P2E games built on Algorand, including Cosmic Champs, Aegir Tactics, Alchemon, Trantorian, Polynize, Alvatars and ZONE., The On Ramp wouldn’t be complete without your proof of attendance NFT! Claim your official Decipher ’22 POA NFT to memorialize Decipher 2022 in your wallet., — A Plethora of Speakers. — Decipher speakers represent organizations including Binance, Kraken, Flare Network, Sino Global Capital, MidChains, the MEAA Crypto & Blockchain Association, European Parliament, AID:Tech, Napster, LimeWire, Milkomeda, Abu Dhabi Global Market, Visa, Fnatic, Pyypl, Citi, IslamicCoin and more! This will be a chance to learn more about creating a borderless global economy and where blockchai...
10 Decipher 2022 Speakers We’re Excited For
Decipher 2022 is the second annual gathering of builders, founders, investors, and strategists growing and deciphering the future on Algorand. And it’s just around the corner! Decipher will be held from Nov. 28 to 30 in Dubai (you can watch from home as well!) and will feature a variety of keynote speakers and panels from the Algorand ecosystem and beyond. It’s a chance to learn about everything going on in the Algorand ecosystem, and get insight from some of the top experts in the field. While we’re thrilled to see every single one of the speakers, here are just a few we want to highlight today: — Jon Vlassopulos, CEO, Napster. — Delivering Web2 to Web3 Jon Vlassopulos has worked in media, tech, and advertising for more than 20 years, recently being named the CEO of Napster. The decades-old music service has taken a headfirst dive into the world of Web3, and expect this transition to be discussed during the panel. It will focus on how the transition of Web2 services to Web3 can be executed in a smooth and efficient manner, how business leaders can think about the world of Web3, and what the Web3 means for the future of technology. — Benjamin Ampen, CEO, Kraken MENA. — Building the Next Crypto Capital Earlier this year, the crown prince of Dubai announced a metaverse strategy projected to add 40,000 jobs and $4 billion to the economy in the next five years. This is just one of the many crypto...
Algorand Protocol Bug Bounty, Up to $2 Million in Rewards
Algorand, the pure proof-of-stake, carbon-negative Layer-1 blockchain network, has announced a $2 million bug bounty program with Immunefi, the leading bug bounty platform for Web3. Launched in partnership with the Algorand Foundation, this program will be focused on further strengthening the security of Algorand’s core protocol.“Algorand was designed to be decentralized, scalable and secure from its inception,” said Paul Riegle, Chief Product Officer at Algorand. “The launch of this program extends upon those principles by incentivizing well-intentioned developers and white hats to further enhance security against bad actors.” Algorand is committed to delivering highly sophisticated blockchain technology and takes the security of the platform and its users very seriously. This program brings the community in as an additional security layer on top of the thorough, ongoing testing and review processes in place during core development. Security is an absolute necessity for a public blockchain in which all participants can safely transact and build reliable, resilient and secure applications. The bug bounty will cover Algorand’s open-source core protocol software. Further details about the scope of assets included in the bug bounty and details on the reward levels can be found on Immunefi. The Algorand Foundation in the near future will also partner with several ecosystem projects, including Folks Finance, for additi...
6 Clever Uses of the Algorand Blockchain in Gaming
The gaming industry has always been on the cutting edge of technology, from early uses of virtual reality and augmented reality, scanning objects in 3D, to controlling on-screen action with gestures. It’s no surprise, then, that companies have started integrating blockchain technology for different applications in the gaming space, which is estimated to be worth $120 billion by 2025. The Algorand blockchain is a great match for gaming applications. Its decentralized nature allows for accuracy and transparency, its fast and permissionless, and its open source to allow for imaginative and groundbreaking applications. Not to mention the Algorand blockchain is secure, built from the ground up to protect the transactions of all participants. What does this mean for players? Algorand’s speed and near-instant transaction finality ensures that something like an in-game purchase won’t disrupt the player experience, its low cost per transaction (just fractions of a cent) enables participation by a mass consumer base, and the network’s scalability allows applications to accommodate audiences of scale. Finally, the Algorand blockchain will never fork — ensuring the validity and uniqueness of in-game assets will never come into question. Here are six clever uses of the Algorand blockchain in gaming. — 1. Zone - Gamers love earning rewards, whether it’s an awesome skin for their playable character or a rare pet, but ...
Algorand Appoints Michele Quintaglie as Chief Marketing Officer
Former Visa and Fidelity executive joins leading Layer-1 blockchain network BOSTON, Sept. 21, 2022 /PRNewswire/ — Algorand, the pure proof-of-stake, carbon-negative Layer-1 blockchain network, today announced the appointment of Michele Quintaglie as its Chief Marketing Officer, effective Sept. 19. Joining the Algorand leadership team, she will report to interim CEO Sean Ford and will lead global marketing and communications with a focus on building Algorand’s brand and reach through strategic growth initiatives. In her new role, Quintaglie will enhance Algorand’s position in the marketplace through brand positioning and narrative development, identifying and activating key sponsorships and partnerships, influencer marketing, and supporting future technology launches and market growth initiatives.“It’s exciting to bring an experienced leader like Michele into the role of CMO,” said Sean Ford, Interim CEO at Algorand. “With an extensive track record of proven success in global communications and marketing across the corporate, agency and UN development world, Michele will continue to strengthen Algorand’s profile as a leading provider of Web3 infrastructure.” Quintaglie brings an extensive background in the corporate communications, brand and marketing profession having led teams for several Fortune 100 companies. She served as SVP and Head of Communications for Fidelity Asset Management, an early adopter o...
Algorand Protocol Upgrade Introduces State Proofs for Trustless Cross Chain Communication
Algorand Protocol Upgrade Introduces State Proofs for Trustless Cross Chain Communication and 5x Faster Performance - The proof-of-stake, carbon-negative blockchain network rolls out quantum-secure interoperability, speeds of 6,000 transactions per second, and new best-in-class developer features. BOSTON, Sept. 7, 2022 /PRNewswire/ — Algorand, the pure proof-of-stake, carbon-negative Layer 1 blockchain network, today announced a major upgrade to its protocol. Now live on Mainnet, the upgrade features State Proofs that enable trustless cross-chain communication, an increase in performance from 1,200 to 6,000 transactions per second (TPS), and new tools to streamline development and introduce on-chain randomness capabilities for dApps. These features solidify Algorand as the leading Layer-1 blockchain for real-world Web3 applications, ranging from sports to music to CBDCs and DeFi. State Proofs are an interoperability standard that securely connects blockchains to the outer world without trust in an intermediary. Blockchain ecosystems are like cities, with each one providing value that draws people to visit. As the blockchain industry matures, people will have more reasons to visit different ecosystems, driving more value into cross-chain applications. But to access your source blockchain in new ecosystems, you need a reliable way to verify its “state” — a snapshot of account balances and transactions — in...
More Algorand (#ALGO) News
|Algorand (ALGO) Stuns In Q4: Market Cap Soars, TVL Doubles, And User Bas...
According to a recent report by Messari, smart contract platform Algorand (ALGO), showcased notable growth and outperformed the general crypto market during the fourth quarter of 2023.
Algorand Outperforms Crypto Market Growth
Per the report, Algorand experienced a surge in market capitalization during Q4 2023, with a significant growth rate of 123%. This substantial increase can be attributed to the overall positive momentum of the crypto market, which witnessed a 53% growth in market capitalization during the same period.
Transactions on the Algorand network also saw a significant uptick, increasing by 58% quarter-on-quarter (QoQ). Consequently, fee revenue rose by 60%, reaching its highest level in a year when measured in ALGO terms, while revenue in USD terms surged by an impressive 143%.
According to Messari, Algorand's success can be attributed to its “thriving” ecosystem, which saw the launch of multiple innovative applications in Q4 2023. These applications covered diverse areas such as regulated and programmable euro, tokenized farmland, and a developer marketplace for selling code snippets.
The introduction of these applications further solidified Algorand's position as a “dynamic and versatile” platform, attracting users from various domains, according to the report.
Moreover, Algorand witnessed a substantial increase in user adoption during Q4 2023, with the addition of 1.9 million new addresses, representing a 72%...
|Algorand Investors Face Setbacks, 88% of ALGO Holders in Loss: Analysis
Proof-of-stake blockchain network Algorand appears to be in a rough season as on-chain metrics show that more than 80% of users holding its native token, ALGO, are in losses.
According to a tweet by pseudonymous X user Slim Daddy, data from blockchain intelligence firm IntoTheBlock shows that Algorand is experiencing stress in its profitability, growth, and token metrics.
Algorand $ALGO faces challenges as data from @IntoTheBlock shows 88% of holders at loss, 14% price fall in 7 days and50% drop in dev activity over 2 weeks.
Network stress signals from profitability, growth and token metrics. But usage & transactions volume are still rising,… pic.twitter.com/bcpkliXlIf
— Slim Daddy ? (@felixreads) January 12, 2024
Algorand Faces Difficulties
Slim Daddy, a content creator at IntoTheBlock, disclosed that Algorand has witnessed a significant drop in developer activity in the past two weeks. Roughly 88% of ALGO holders also battle losses as the token records minimal gains.
Out of 19.88 million addresses on the network, only 1.91 million, representing 9.62%, are in profit, while a whopping 17.58 million, accounting for 88.38%, are in loss.
Algorand’s figures are a far cry from that of Bitcoin, which has over 90% of BTC holders in profit. The network’s rate also differs starkly from that of fellow top altcoins like ether (ETH), which has more than 70% of its holding addresses in the green.
Despite the general market rally, which has seen BTC and ETH soar ...
|ALGO Blows Up To 42-Week High, Delighting Algorand Fans
Known for being a blockchain technology pioneer, Algorand (ALGO) has seen ups and downs in the cryptocurrency market. Over the past week, there has been a notable 20% surge in the value of the Algorand token, which also translates to a 42-week peak.
According to data from Coingecko, ALGO was trading at $0.232 at the time of writing, with a significant 24-hour trading volume of $370 million.
Algorand's Rise: Blockchain Advancements And Market Surge
The Algorand network, also referred to as 'blockchain3.0,' prioritizes security and decentralization while addressing significant scaling problems that have beset earlier blockchain systems like Bitcoin.
Algorand's cutting-edge blockchain technology, which is well-known for its quick transactions and function in smart contracts, is what is driving ALGO's growth. Its price increase over the weekend represented a 90% rise in the last month.
Algorand's digital network and protocol give it a significant technological advantage that makes it a vital role in improving the financial system's efficiency.
Algorand is a significant player in the market, presently ranked 43rd, with a current market value of more over $1.85 billion. There are already 8 billion tokens in circulation on the network, which is a sizeable fraction of the 10 billion token maximum supply.
This position takes into account the platform's usage of a significant percentage of its token allocation as well as its presence in the cutthroat cryptocurrency market.
|Bitcoin Core Dev Discusses 'Firing' All Miners With PoW Algo Change: Fei...
Over the last ten years, Luke Dashjr has emerged as a key player in the realm of Bitcoin development and the network's open-source software. His opposition to specific trends within the Bitcoin ecosystem has gained more attention lately. He has labeled Ordinal inscriptions and non-fungible tokens (NFTs) on the Bitcoin platform as detrimental to the protocol and akin to spam, which he believes has been curtailed since 2014. Just this week, he suggested that Antpool might be employing 'covert' ASIC Boost techniques. Subsequently, he informed individuals that the Bitcoin community has the power to fire all miners 'by changing to a different PoW algorithm.'Luke Dashjr Talks Ousting Miners and Covert ASIC Boost Use
In recent weeks, Luke Dashjr, a prominent Bitcoin Core contributor and the brain behind Bitcoin Knots, has been particularly vocal. He re-entered the spotlight when his operated pool, Ocean Mining pool, confirmed it was filtering specific transactions, including Ordinal inscriptions, BRC20 tokens, and coinjoin-related transfers. On Dec. 17, in a conversation about simply using a .sats domain on an X profile among Ordinals enthusiasts, Dashjr remarked, 'Hopefully enough of you scammers will be in jail by '26 so we never have to worry about you again.'
An individual, surprised by Dashjr's comment, asked him, 'Wow. Okay. I have never talked to you before nor done you any harm. What's your problem?' To this, Dashjr bluntly responded, 'Scamming in the name of Bitcoin literal...
|UNDP and Algorand Foundation to Launch Blockchain Academy in Q1 of 2024
The United Nations Development Programme together with the Algorand Foundation are set to launch a blockchain academy in the first quarter of 2024. The objective of the academy is to provide the UNDP’s employees 'with knowledge and insights into the applications of blockchain technology.'Course Material to Be Made Available to Staff Members of Other UN Agencies
The United Nations Development Programme (UNDP) recently announced that it will launch the Algorand Blockchain Academy in 2024. The academy aims to provide the UNDP’s 22,000-plus employees 'with knowledge and insights into the applications of blockchain technology.'
Robert Pasicko, the agency’s expert for alternative finance and low-carbon development, said that the academy will offer a curriculum that is comprised of 'recorded lectures, interactive workshops, and hands-on assignments.' The course will also be available to staff members of other UN agencies.
Remarking on the academy’s potential role in helping to bring UNDP workers up to speed with modern technologies, Pasicko said:
'The Algorand Blockchain Academy will be instrumental in equipping our team with the tools needed to address complex global challenges using blockchain technology.'
Using Blockchain to Achieve Sustainable Development Goals
Doro Unger-Lee, the head of education and inclusion at Algorand Foundation, stated that his organization considers the education initiative as an important first step 'toward identifying and deliv...
|Quantoz Payments Secures License to Issue EURD on Algorand Blockchain
Quantoz Payments, a subsidiary of Dutch blockchain firm Quantoz, has secured a license as an electronic money institution (EMI) under the oversight of the Dutch Central Bank.
The authorization empowers Quantoz Payments to issue its inaugural regulated and programmable euro legal tender, EURD, on the Algorand network.
Launching EURD on the Algorand Blockchain
Anticipated by year-end, EURD and its associated e-money services are poised to become accessible to businesses and consumers throughout the European Economic Area, irrespective of whether they possess a traditional bank account.
The introduction of EURD opens avenues for payments to internet-connected device avatars and plays a crucial role in facilitating the Web3 economy. The Quantoz euro makes microtransactions economically viable, enabling scenarios such as compensating sensors for data, facilitating machine-to-machine transactions, and more.
EURD transcends the status of a regulated digital euro, offering a spectrum of compelling features. These include robust privacy measures, coverage of transaction fees, and the ability to program money for enhanced efficiency and cost-effectiveness.
Quantoz co-founder and CTO Gaston Hendriks emphasized Algorand's suitability for issuing regulated digital euros on a public blockchain. He highlighted the platform's capacity, noting the capability to issue all euros circulating on Algorand and process thousands of transactions per second instantly.
Developers keen on integrating EU...
|Algorand (ALGO) NFT Rewards Skyrocket: Transactions Surge 320% In Q3
Algorand (ALGO), a smart contract platform employing the Proof-of-Stake (PoS) consensus mechanism, has showcased notable progress in the third quarter (Q3) of the year, as reported by Messari.
Despite facing some challenges, the platform has seen remarkable growth in its ecosystem and significant developments in various aspects of its platform.
Algorand Witnesses Surge In Transaction Volume In Q3
Per the report, the non-fungible token (NFT) Rewards program implemented by Algorand garnered notable success, leading to a significant increase of 321% in NFT-related transactions compared to the previous quarter.
This program, initiated through a governance vote in Q2, allocated 500,000 ALGO in rewards to NFT marketplace users to stimulate activity.
Furthermore, during Q3, Algorand experienced a surge in user adoption, adding 1.1 million new addresses and witnessing a 2% increase in total daily average transactions compared to the previous quarter.
However, Algorand's total stablecoin market cap faced a decline of 58% in Q3, largely attributed to the decreasing market caps of stablecoins on the platform. Despite this, USDC (USD Coin) surpassed USDT (Tether), accounting for 76% of the stablecoin market cap.
In the decentralized finance (DeFi) space, Algofi, Algorand's largest DeFi protocol by Total Value Locked (TVL), began winding down operations in July.
As a result, Folks Finance emerged as the dominant DeFi protocol on Algorand, capturing 55% of the DeF...
|Algorand Explorer Powered By ChatGPT launched, Will ALGO Find Reprieve F...
GoPlausible, a team of developers building tools for people to create and use Algorand, has launched AlgorandExplorer. This explorer fuses the capabilities of ChatGPT to ease interaction with the public, proof-of-stake blockchain. Algorand is a smart contract platform similar to Ethereum, allowing users to deploy decentralized applications (dapps).
In a Medium post on October 10, the team said the plugin aims to solve challenges facing Algorand indexers and eventually simplify exploring the smart contract platform. Ordinarily, users rely on indexers through which users can search and query the blockchain. This is because indexers have to create a searchable database holding all data, such as transactions, blocks, and more.
Besides offering an interface for users to explore Algorand, the AlgorandExplorer supports 'semantic conversational searches, enriching data with logs and related transactions,' allowing on-chain searches to 'reason with data' more effectively. The explorer will integrate a language translation tool, meaning users from across the globe can explore Algorand using their native language.
Still, the AlgorandExplorer is under development. Eventually, in the coming version, the GoPlausible plans to include more enhancements, including Algorand Request for Comments (ARCs) and technical documentation.
Algorand is far from the only platform investing in AI; a few months ago, Solana announced their integration of a ChatGPT plugin focused on non-fung...
|Algorand Foundation Announces Build-A-Bull Hackathon in Collaboration wi...
[PRESS RELEASE - Singapore, Singapore, September 20th, 2023]
Registration is now open for global hackathon with $200,000 in prizes across five tracks
The Algorand Foundation, the organization focused on growing the ecosystem for the world's most advanced, secure and reliable layer-1 blockchain, announces the opening of registration for Build-A-Bull, a global virtual hackathon with $200,000 (USD) in prizes. The hackathon, powered by Algorand Ventures and in collaboration with AWS, will run from October 18 through November 15, 2023. Registration is free and open to anyone.
Build-A-Bull is a hackathon to create consumer-friendly applications using the power and scalability of the Algorand blockchain. Spanning four weeks, the hackathon offers an opportunity for committed developers and entrepreneurs to conceive a business concept, accelerate it though the development phase, and to ultimately present a final product to a panel of expert judges. Throughout the process, participants will receive matchmaking, tooling, support, and mentorship to help bring their ideas to life.
“With Build-A-Bull, we expect to attract a new wave of promising builders to come into the Algorand ecosystem,” says Ryan Terribilini, EVP of Algorand Ventures. “We are looking for high-potential, investible startups and founders to bring innovative projects to the Algorand blockchain, and we are confident that the resources and exposure of participating in Build-A-Bull will catalyze this next ...
|Algorand (ALGO) May Have A Chance At A Bullish Streak – Here's How
Algorand (ALGO) has recently announced significant changes to its protocol that are set to reshape the future of the blockchain network. These developments are aimed at increasing decentralization and fostering consensus among participants, signaling a bold step forward for the project.
One of the most striking revelations in Algorand's recent announcement is the network's transition from relays to a peer-to-peer (P2P) network approach. This fundamental shift represents a departure from traditional blockchain architectures and underscores Algorand's commitment to further decentralization.
By adopting a P2P network, Algorand aims to empower its community, enabling more nodes to participate directly in the network's operations. This move aligns with the broader industry trend of reducing reliance on intermediaries, ultimately enhancing the network's security and resilience.
Algorand: Incentivizing Consensus For Greater Decentralization
Another pivotal aspect of Algorand's plan is the introduction of incentives to drive consensus within the network. By incentivizing participants, Algorand seeks to strengthen its decentralized nature and encourage active involvement in the consensus process.
The @Algorand protocol is evolving to a peer-to-peer gossip network not requiring relays, while maintaining finality and blocktime, and introducing consensus incentivization, a game-changer toward true decentralization. pic.twitter.com/pHZmduYLn5
— Algorand Foundation (@Al...
|Algorand Stuck At Bearish Price Level – Can Bulls Reverse Path?
Algorand native token, ALGO, has experienced a dramatic plunge in the wake of the recent crash in the cryptocurrency market. On August 19, the token's value plummeted by a staggering 18%, hitting a low of $0.082.
While ALGO subsequently rebounded slightly, currently trading at $0.097 according to CoinGecko, the prevailing sentiment suggests that the selling pressure is something investors must keep an eye on. The 24-hour gains have been a mere 0.9%, and over the span of the past week, ALGO has suffered a 5.3% decline.
Algorand Challenges Amidst Brief Rebound
Despite the transient recovery in prices, the persistent selling pressure continues to cast a shadow over ALGO's future prospects. The potential consequence of this is the looming possibility of ALGO establishing a new all-time low in the days to come.
This setback is compounded by a development earlier in the year when the US Securities and Exchange Commission designated ALGO as a security. This action was made as the SEC unleashed regulatory measures against the US-based crypto exchange, Bittrex.
The reclassification of ALGO has set in motion a cascade of ramifications, affecting both the token itself and its holders in terms of financial regulations.
Regulatory Uncertainty And Value Erosion
In spite of vigorous resistance from its Foundation, ALGO's demand has experienced a decline. The overarching reason behind this decline lies in the hesitancy of investors towards assets entangled in regulatory ...
|Algorand Faces Tough Times, Records New All-Time Low As Crypto Market Pl...
Algorand's (ALGO) performance on the charts has been nothing short of a rollercoaster. According to data from CoinGecko, yesterday, the asset's value plummeted to a historical bottom, and it's currently down by nearly 10% in the past 24 hours.
Algorand Records New Low
Just yesterday, amid the significant downturn in the crypto market, Algorand's price fell below notable support. The asset dropped to a price of $0.0905 despite maintaining its stability and striving to hold its ground above the $0.11 mark over the past week.
This price move resulted in more than $50 million being wiped away from the asset's market capitalization in the past day. Algorand's market cap stands at a valuation of $755 million, a 7.1% drop from its earlier record of $808 million on Thursday.
Despite the bloodbath the asset's market cap and price currently suffer, its trading volume has moved in the opposite direction. ALGO's trading volume has surged from a low of $46.5 million yesterday to as high as sitting above $73 million at the time of writing.
This isn't surprising as it indicates a potential violent sell-off. Furthermore, it is worth noting that before ALGO's current bloodbath, the US Securities and Exchange Commission Chairman once recognized Algorand as a 'great technology.'
At least on Algorand, I agree with Gary. Gensler is bullish on Algorand! pic.twitter.com/BnKkU8d8gS
— Mr. Huber (@Leerzeit) November 14, 2021
However, despite receiving positive reviews, even from the...
|DWF Labs and Algorand Foundation Reach Strategic Partnership
[Press Release - Dubai, June 26th, 2023]
DWF Labs, the global multi-stage Web3 investment firm, has announced a partnership with Algorand Foundation to support the health and growth of the ecosystem built on the Algorand blockchain.
The first component of the partnership involves a $50 million ALGO token purchase agreement to, in part, provide liquidity into the Algorand ecosystem.
An additional MOU has been signed with the aim of allocating funds to support projects that are building on the Algorand blockchain in the spaces of DeFi, Art and Music, Gaming, Oracles and Bridges, and Infrastructure. Projects interested in submitting their pitch can get in contact with DWF Ventures by visiting: http://www.dwf-labs.com/algorand.
Andrei Grachev, Managing Partner of DWF Labs, shared his enthusiasm for this partnership and its potential for revolutionizing blockchain innovation, as well as DWF Labs’ commitment to actively participate in the building of the Algorand ecosystem.
“We selected Algorand because of its unparalleled level of technology and security among permissionless DLTs, as well as its leadership in environmental sustainability and social impact. Algorand's blockchain infrastructure provides the speed and instant finality required for creators, financial institutions and governments to smoothly transition to the new digital economy at scale, in an environmentally responsible manner. This partnership with the Algorand Foundation is another important step ...
|Etoro to Delist ALGO, MANA, DASH, and MATIC for US Customers Amid 'Evolv...
The social trading and investment company Etoro declared on Monday that starting July 12, 2023, U.S. customers would be unable to initiate new trades for ALGO, MANA, DASH, and MATIC. The company cited the 'rapidly evolving regulatory landscape' as the reason behind the delistings.Etoro Reveals Plans to Delist 4 Crypto Assets
Based in Tel Aviv, Israel, Etoro's trading and investing platform specified that as of July 12, 2023, American customers will be barred from trading four distinct cryptocurrencies. The organization claimed that it has devised a system for its team to assess crypto assets in response to the ever-shifting regulatory climate.
'Due to recent developments, we will be making some changes to our crypto offering for U.S. customers,' Etoro said on Monday. 'From 6:00 AM ET on Wednesday, July 12th, 2023, U.S. customers will no longer be able to open new positions in algorand (ALGO), decentraland (MANA), dash (DASH) and polygon (MATIC). Customers can continue to hold and sell existing positions in these coins,' the social trading company added.
This announcement from Etoro comes after Robinhood's decision to delist cardano (ADA), solana (SOL), and polygon (MATIC). These delistings come in the wake of the U.S. Securities and Exchange Commission (SEC) suing Binance and Coinbase. Numerous SEC lawsuits contend a handful of specific crypto assets are securities or investment contracts.
The U.S. regulator identified all four currencies – ALGO, MANA, DASH, and MATIC...
|SEC Deems DASH, ALGO, and OMG 'Unregistered Securities' in Bittrex Lawsu...
According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC's designation of several crypto assets as securities, including the case against Terraform Labs, which insists that LUNA and UST were sold as unregistered securities. Additionally, a lawsuit initiated by New York attorney general Letitia James against Kucoin insists that ethereum is also an unregistered security.Lawsuits Against Crypto Exchanges Bring Lack of Clarity Over Security vs. Commodity Status to the Forefront
This year, U.S. regulators are designating a number of crypto assets as unregistered securities, and the allegations are buried in lawsuits against several crypto exchanges. Bittrex is the latest crypto exchange to be sued this year, following lawsuits against trading platforms such as Binance US, Kucoin, and Coinex, after the SEC accused Bittrex of operating 'an unregistered national securities exchange, broker, and clearing agency.' In the lawsuit against Bittrex, the SEC insists that DASH, ALGO, TKN, NGC, and OMG are unregistered securities.
As an example, on page 35, the SEC emphasized that 'investors in OMG had a reasonable expectation of profits based on the efforts of others' while discussing the Omisego Project. The securities regulator claims that 'materials available at the time of the [initial coi...
|Massive news coming from the Algorand foundation
The Algorand Foundation has expanded its reach into India, announcing its plans to establish a presence in the country. This move comes as the foundation seeks to promote the development of decentralized finance (DeFi) and blockchain technology in the region.
The Algorand Foundation is a non-profit organization that aims to facilitate the adoption and development of the Algorand blockchain, a secure and scalable blockchain protocol. With its new presence in India, the foundation will be better positioned to engage with developers, entrepreneurs, and policymakers in the country to promote the adoption of blockchain technology and explore new use cases for DeFi.
India is a key market for blockchain technology, with a rapidly growing startup ecosystem and a large population of tech-savvy individuals. The Algorand Foundation's entry into the Indian market is expected to provide a boost to the country's blockchain industry and help drive innovation in the sector.
In addition to establishing a presence in India, the Algorand Foundation has also announced a series of initiatives to support the development of DeFi and blockchain technology in the country. These include funding for startups and research institutions, educational programs for developers and entrepreneurs, and partnerships with industry leaders and government agencies.
The Algorand Foundation's expansion into India is part of its broader mission to promote the adoption and development of blockchain technology worldwide....
|Algorand Wallet MyAlgo Warns Users to Withdraw Funds After $9.6M Exploit...
Algorand-based wallet provider MyAlgo has cautioned users to withdraw assets from all wallets created with a mnemonic phrase as the company continues investigating an exploit that led to a $10 million loss.
The wallet provider tweeted on February 26, warning users that 'a targeted attack was carried out against a group of high-profile MyAlgo accounts.'
MyAlgo Urges Users to Withdraw Funds
MyAlgo further explained that the attacked users had significant amounts of assets in their accounts and were using mnemonic hot wallets with private keys stored in the browser. The exploit did not affect hardware wallet users, the team added.
The wallet provider said it was working with affected parties and authorities to investigate the incident. However, in a Monday update, the team strongly advised all users to transfer any funds from seed phrase wallets stored in MyAlgo as it still does not know the root cause of the hacks.
IMPORTANT: We strongly advise all users to withdraw any funds from Mnemonic wallets that were stored in MyAlgo. As we still don't know the root cause of recent hacks, we encourage everyone to take precautionary measures to protect their assets. Thank you for your understanding.
— MyAlgo (@myalgo_) February 27, 2023
Over $9 Million Stolen
According to blockchain investigator ZachXBT, the hacker stole 19.5 million ALGO and 3.5 million USDC valued at $9.6 million from victims.
However, centralized exchange ChangeNow was able to freeze $1.5 million of the stolen ...
|Algorand Rises 30% As Founder Sneaks Into List Of Personalities To Watch...
Algorand (ALGO) has benefited from the general sentiment in the crypto market as it records significant profits on high timeframes. The cryptocurrency has been upward since late 2022 and could be on track for further gains.
As of this writing, Algorand (ALGO) trades at $0.24 with a 2% loss in the last 24 hours. Over the previous seven days, the cryptocurrency saw a 3% decline while recording a 40% profit in the last month.
Algorand Founder Makes The List Of Most Important Crypto Projects
According to a recent report, Algorand founder Silvio Micali s one of the top “2023’s crypto characters to watch.” The computer scientist is one of the investors of the zero-knowledge proofs (zk Proof) technology which is widely accepted in the blockchain space and one of the pillars of its privacy settings.
Micali has been part of the faculty at the Massachusetts Institute of Technology (MIT) in the Electrical Engineering and Computer Science Department since 1983. In addition to Zk Proof, Micali has investigated Verifiable Random Functions and is the co-inventor of probabilistic encryption.
According to the report, Micali has received the Turing Award called the “Nobel Prize of computing,” the Gödel Prize, and other distinctions. In that sense, the report claims that Micali and the Algorand network have the background and capabilities to push the crypto space into a new adoption era.
Over the coming decade, Micali believes o...
|Algorand TVL Hits $177 Million As Altcoin Rally Continues – Can AL...
Algorand is one of the fastest growing crypto in terms of gains. According to CoinGecko, the token has appreciated by 30% in the last two weeks. With the broader crypto market rallying as Bitcoin breaks its crucial $21,000 resistance, ALGO is set to gain more in the next few days.
The Total Value Locked department is where the ecosystem gained the most. According to DeFiLlama, Algorand’s TVL yesterday hit $177 million in value. This uptick in TVL is a bullish indicator that the ecosystem still has the momentum to reach new milestones.
However, the token might be on shaky ground as the bears test its current support at $0.2275.
Algorand Developments On-Chain
Algorand’s G6 governance commitment period ended yesterday, January 16. According to Algorand blockchain explorer, AlgoExplorer, more than 4.1 billion ALGO is staked by over 31,763 governors.
The ecosystem would pay back the governors with an annual return rate of 6.52%. This way of governance makes the Algorand ecosystem stay true to the tenets of decentralized finance. To add to this bullishness, the ecosystem also processed its 1 billionth transaction.
With the ecosystem able to handle more than 2,881 swaps on-chain, Algorand is expected to continue growing in popularity.
Did you know Algorand can handle over 10x the number of AMM swaps per second relative to #solana #Avalanche #polygon #bsc #celo #ethereum? $sol $matic $algo $bsc $eth pic.twitter.com/7hBmduanfM
|What's Next For Algorand Price As Coin Continues Downtrend?
The Algorand price has been downward for quite a few months now. The coin has fallen by 1.8% over the last 24 hours. The coin has lost over 4.7% of its market value in the past week. Algorand had been consolidating on its chart over the last few weeks, but the consistent lateral trading has pushed the bulls out of the market.
The technical outlook has sided with the bears, with no clear indication of the price turning around in the coming trading sessions. Ever since ALGO lost the $0.28 price level, the coin has been unable to stop its downtrend. The aforementioned price floor acted as a crucial level for the altcoin. The Algorand price has also remained unaffected by positive changes in major market movers' prices.
Since the altcoin was rangebound for a while, buyers lost interest and rushed to sell the altcoin. Algorand has lost over 30% in the month of December itself. At the time of writing, the ALGO price is 96% below its all-time high from 2021. The market capitalization of Algorand has witnessed a considerable decline, indicating that sellers have completely taken over the market.
Algorand Price Analysis: One-Day Chart
ALGO was auctioned for $0.166 at press time. The immediate resistance for the altcoin was at $0.172. The coin has attempted to test the overhead price ceiling, but the bearish strength has taken over the market. Since demand for Algorand has fallen substantially, the altcoin can fall to $0.163 before the price reverses itself.
This could present trader...
|Why ALGO Has Been Stagnant In Last 10 Days And Still At The Mercy Of Bea...
ALGO, an altcoin by the Algorand blockchain with a market cap of $1.18 billion, continues to feel the effects of the intense selling pressure that caused its price to crash last month.
After trading within a narrow region from May to November that saw it establish $0.28 as its range low, the cryptocurrency devalued by 34% in December and found itself going all the way down to $0.163 – a marker that ended up being the asset’s current support zone.
ALGO, which has not made any significant increase in price in the last 10 days, is at the mercy of bears that are in control right now, threatening to push the digital coin’s value to $0.15 or even lower.
Technical indicators such as Relative Strength Index (RSI) and On-Balance Volume (OBV) are also currently favoring sellers, indicating that Algorand is headed into another bearish trajectory.
Algorand Paints Its Charts In Red
At the time of writing, investors and holders of the crypto asset has no reason to be happy as it remains in the “red zone” in all its price gauges.
According to latest tracking from Coingecko, ALGO is changing hands at $0.165, nearing its newly found support zone of $0.163.
Over the last 24 hours, the altcoin has gone down by almost 3% and is looking at a weekly decline of 4.7%.
On longer time frames, Algorand has declined significantly, dumping 25.6% of its value during the last two weeks and also losing 30.4% over the last 30 days.
Indeed, the cryptocurrency was among the many ...
|Buyers Rule Over Algorand's (ALGO) Price Action, Enough To Break Above $...
The Algorand price has been positive over the last 24 hours. Despite minor gains, the altcoin has been moving north. There have been many updates in Algorand's ecosystem, which might have brought in a slight appreciation in price. As bulls slowly return to the market, investor interest has also shot up accordingly.
The technical outlook of ALGO has depicted that the buyers were dominating the market at the time of writing. Recently, Algorand's developments have made it compatible with Cardano, which has created more liquidity injection into the ecosystem. This development could encourage venture capitalists to inject more liquidity into Algorand, thereby reflecting positively on its price.
Algorand price depicts positive predictions, but it must be remembered that ALGO's ecosystem is developing. ALGO's price appreciation is a matter of time as more applications get developed on the platform. For ALGO to topple above the $0.26 resistance mark, buyers have to garner further strength.
Algorand Price Analysis: One-Day Chart
Algorand was priced at $0.24 on the one-day chart | Source: ALGOUSD on TradingView
ALGO was auctioning for $0.24 on the one-day chart after it noted a 1.9% appreciation. At the current moment, it can be said that Algorand is consolidating below its immediate resistance of $0.26. A move above the aforementioned price level will ensure that the altcoin can rally to $0.31.
Algorand will lose its current support level unless buying strength increases significantl...
|What's Next As Algorand Price Remains Congested
Algorand price continues to pack negative price action throughout the month of November. The altcoin has depreciated by more than 40% since the beginning of this month. Over the last 24 hours, ALGO has just risen by 0.6% on its chart, emphasizing continued lateral price movement.
Currently, the coin has been stuck at a crucial resistance level. The technical outlook points in a direction where ALGO might not make a price comeback soon enough. The buying pressure has dropped considerably, which has reflected the fact that the coin has been undergoing a massive sell-off. If Algorand is to come under bullish influence, buyers have to immediately re-enter the market.
The asset's price action is expected to become even more congested at the $0.20 level if the bears halt movement above the $0.23 mark again. It remains to be seen if Algorand reclaims the $0.24 price level.
Algorand Price Analysis: One-Day Chart
Algorand was priced at $0.23 on the one-day chart | Source: ALGOUSD on TradingView
ALGO was auctioned at $0.23 at the time of writing. The overhead price ceiling was $0.24, and the altcoin faced rejection every time it inched toward that zone. With the massive sell-off, Algorand can lose the $0.23 price level and pierce through the $0.22 mark to sit on $0.20 for some time.
The altcoin can be expected to trade at $0.22 for some time before it targets $0.20, and if buyers return, ALGO can trace upwards from the $0.22 price mark. The amount of Algorand traded in the past sessio...
|Biggest Movers: NEAR Slips to 16-Month Bottom, ALGO Over 11% Lower on Mo...
Near protocol fell to its lowest level in over sixteen months, as bearish pressure intensified on Nov. 21. Overall, cryptocurrencies started the week trading lower, following increased speculation on a prolonged market crash. Algorand was another notable token to fall, dropping by over 11% today.Near Protocol (NEAR)
Near protocol (NEAR) dropped to its lowest level in over one year, as the token extended recent declines.
NEAR/USD fell to a low of $1.50 on Monday, slipping for a sixth straight session in the process.
This drop in price has seen NEAR move to its weakest point since July 20 last year, and it has since settled on its floor of $1.50.
Looking at the chart, prices have since rebounded from the point of support, and as of writing the token is trading at $1.55.
On the other hand, the 14-day relative strength index (RSI) was unable to remain above its floor of 24.50, and is currently tracking at 22.85.
In order for NEAR to move further away from the $1.50 point, we will likely need to see the index climb closer to a reading of 25.00.
Algorand (ALGO) was another notable mover to start the week, with prices dropping by over 11% in today’s session.
Following a high of $0.2855 over the weekend, ALGO/USD moved to an intraday low of $0.2452 on Monday.
The move saw the token fall below a key support point of $0.25, as bears seem to be pushing price to a floor of $0.24.
Looking at the chart, the RSI is hovering at a floor of its own at 38.20, which seem...
|Biggest Movers: ALGO Nearly 10% Higher, TRX Extends Recent Gains
Algorand has been a notable exception in what has been a relatively bearish start to the weekend. On Nov. 19, the token rose by nearly 10%, as cryptocurrency markets mostly traded lower. Another noteworthy exception was tron, which climbed for a second consecutive day.Algorand (ALGO)
Algorand (ALGO) was a notable gainer on Saturday, as the token moved towards a one-week high.
Following a low of $0.277 on Friday, ALGO/USD climbed to an intraday high of $0.3102 earlier in the day.
This saw the token climb by nearly 10% in today's session, hitting its highest level since last Friday in the process.
Looking at the chart, prices broke out of a key resistance level of $0.30 as a result of today's surge.
Another breakout can also be spotted, with the 14-day relative strength index (RSI) also moving past a key resistance level of 45.20.
As of writing, ALGO has somewhat slipped, with the token now trading at $0.3007.
Tron (TRX) also climbed to start the weekend, with prices moving higher for a second straight day.
TRX/USD hit a peak of $0.05197 earlier in the day, which comes less than 24 hours after hitting a low of $0.05042.
As a result of this rally in price, tron collided with a resistance level of $0.05190 for the first time since Monday.
In addition to this, the RSI also hovered close to a ceiling of its own, with the index currently tracking slightly above this point at 36.31.
Should bulls intend to maintain the current upward momentum, this ceiling will need to b...
|Weekend Watch: ApeCoin Up 7%, Algorand Soars 10%
Bitcoin continues to be unable to conquer $17,000 and struggles beneath that line on low Saturday trading volumes.
Most alts are quite stagnant today, with little-to-no substantial moves. Algorand is among the few exceptions.
Bitcoin Boring Below $17K
The past week was significantly different that the previous one, in which bitcoin experienced some of its most violent price declines following the rapid collapse of FTX. In a matter of days, the asset went from over $21,000 to under $16,000 to mark a new two-year low.
However, the bulls tried to intervene at this point and pushed BTC north to around $18,000. It failed there and returned back down below $17,000 this past Monday. Since then, it has remained relatively calm, around $17,000, but failed to breach that level despite its numerous attempts.
The last such one came at the end of the working week, but the bears stopped bitcoin just shy of $17,000. As of now, BTC stands a few hundred dollars away from that line, meaning that its market cap is still struggling to stay above $320 billion.
Its dominance over the altcoins has also remained still and is at 38.5%.
BTCUSD. Source: TradingView
ALGO Steals The Show
Most altcoins have also calmed lately, and the past 24 hours are no different. Ethereum, which experienced similar price dives following the FTX crash, struggles around $1,200, having dipped below that level earlier this week.
On a daily scale, most larger-cap alts are slightly in the red. These include Binance Coin, Rip...
|Algorand (ALGO) Loses Its Gains As Majority Of Coins Plummet
Despite bagging substantial gains earlier in the trading day, Algorand (ALGO) is down over 27% as of writing. The token’s price drop follows a bearish market sentiment that sees major coins plummet on the day.
The past seven days had seen the token climb steadily. It even tried reaching its 6-month high of $0.488 yesterday. However, its rally was cut short and only registered an intraday high of $0.409.
Algorand’s price dump comes as news of FTX acquisition by Binance surfaces. This single news has dragged the entire market into the red zone, with alpha crypto Bitcoin falling below $18k again.
ALGO Consolidating And Accumulating Between $0.28 And $0.42
ALGO’s price has been on a significant slump throughout 2022 up to May. Since reaching an all-time high of $2.41 in September 2021, the token has only known downward trends. However, the token has formed a pattern these past months, starting from June.
Specifically, ALGO has been fluctuating around $0.28 and $0.42, with the midrange being $0.35. This pointed to the possibility that the coin was through a period of accumulation. The A/D indicator also showed an upward trend, indicating sustained buyer interest. Since June, the indicator has been making higher lows.
Conversely, the CMF has followed the bear-bull battles by swinging back and forth between negative and positive values. At press time, the CMF was below zero, indicating that no substantial funds were entering the market. Ins...
|Algorand (ALGO) Continues To Shine With 21% Gains In 7 Days
Algorand, the pure proof-of-stake protocol continues to keep gains from seven days prior. The blockchain’s native token ALGO has retained over 21% of profits, joining top performers like Doge and BNB. In the past several weeks, the price of Algorand has been making a positive recovery. This coincides with a general resurgence in the value of cryptocurrencies.
Algorand's price increased by 2.65% in the last day, reaching $0.411. This is consistent with its recent upward trend of over 21%, which began a week ago. At that time, it was trading at $0.411 and has carried it all the way up to its present price. Despite its impressive gains, Algorand is still far from its all-time high of $3.28.
World Cup Causes ALGO To Surge
The price of Algorand has a major driver that might send it soaring in November. Some time ago, Algorand signed a massive contract with FIFA. The agreement made Algorand the official blockchain partner for the international soccer governing body. This led to the development of FIFA's NFT marketplace, FIFA+Collect. The marketplace allows fans to buy, sell, and trade NFT collections commemorating iconic moments in the history of soccer.
In addition, Algorand will be a major sponsor during this month's World Cup. This will result in the introduction of Algorand to billions of individuals worldwide. Given that the World Cup is a massively popular event throughout the world, this is crucial for the blockchain's adoption. Therefore, it is likely that the price ...
|Algorand Social Activity Reaches 13 Million – Time To Buy ALGO?
Algorand recently received a big boost for its blockchain ecosystem courtesy of Hivemind Capital’s $25 million investment to the decentralized finance (DeFi) Layer 1 chain.
Algorand DeFi ecosystem recently attained new all-time high in total locked value
ALGO registered a 3.23% price surge before experiencing minor price correction once again
The altcoin is predicted to be extremely volatile over the next few days
The crypto-focused investment firm announced three days ago that it has deployed 80 million ALGO tokens across various governance and DeFi programs under the umbrella of the Algorand ecosystem.
During that time, ALGO was trading at $0.31, putting the total value of the deployed tokens to $25 million.
Hivemind Capital’s input catapulted the total locked value (TLV) into Algorand to a new all-time high of$270 million. On a week-to-date basis, at that time, the blockchain’s TLV increased by as much as 53.95%.
The massive cash inflow, it turned out, didn’t just help the network with its total locked value, as Algorand’s social dominance and ALGO price also increased.
Algorand Social Engagement Up More Than 1,000%
According to data shared by LunarCrush, Algorand’s social engagement surged by 1,220% over the last seven days as it peaked at 12.78 million at the time of this writing.
The cryptocurrency social intelligence firm inferred this meant ALGO captured the interest of a large part of the crypto community.
Moreover, the up...
|Algorand Price Slowly Moved Up, Will The Bulls Stick Around?
Algorand price has been trying to sail through the choppy waters, the coin has moved against the broader market price movement.
Over the last 24 hours, Algorand has gained 2%, which means that ALGO is stuck in consolidation. In the past week, ALGO moved up by 3%.
This also signalled that the altcoin hasn't made significant upward movement on the chart. The technical indicator of the altcoin showed that the bulls were still in control.
The buyers were still more than sellers, but the technical outlook also pointed out that the bulls would soon fizzle out in the market.
The demand for ALGO had slowed down, indicating that sellers would soon take control, bringing the price of the altcoin down to its next support level.
The support zone for the altcoin stood between $0.33 and $0.27 respectively. The demand for the altcoin has been dropping, which means that the coin will move near the $0.31 price mark.
Algorand Price: One Day Chart
Algorand was priced at $0.34 on the one-day chart | Source: ALGOUSD on TradingView
ALGO was trading for $0.34 at the time of writing. The coin was trading in a descending channel from which it broke out, but it was unable to add further fuel to its price owing to lower demand.
The immediate resistance for the coin stands at $0.40 and a push above that could help the bulls to stick around for longer.
On the other hand, the local support for the coin stood at $0.31. A fall from the $0.31 level will bring ALGO down to $0.27.
The amount of Algorand traded...