Algorand Market Cap And TVL Skyrocket As ALGO Faces Critical Support Test

Blockchain platform Algorand achieved notable gains in key metrics during the years first quarter (Q1), aligning with the overall upward trend observed in the crypto market ecosystem.  However, despite this growth, its native token ALGO experienced a 22% price decrease since the beginning of Q2, putting a critical support line to the test and raising [...]

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Battle Of Networks? Algorand Pokes Fun At Bitcoin, Ethereum, And Solana In New Ad

Algorand Foundations new ad criticized Bitcoin, Ethereum, and Solana for their efficiency. The ad received mixed reactions from the crypto community and sparked a conversation about the art of advertising crypto products. Related Reading: Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree Algorand, The Only One Delivering Algorands latest ad has sparked controversy for dissing three networks. Titled When Blockchain Meets The Real World, Only One Can Deliver, the ad features a classic grocery store checkout line format. The video shows three customers trying to pay for groceries with crypto: Bitcoin, Ethereum, and Solana. During the ad, the three shoppers have problems with their respective transactions, seemingly suggesting that the rival networks are unsuitable for everyday use. The customer using Bitcoin had to wait 27 minutes for the transaction to be completed; the one paying with Ethereum was told the transaction fees were $112, and the Solana payer had his transactions repeatedly failing. All three issues in the ad are common criticisms that the three targeted networks receive. The commercial then shows the next checkout line, with buyers using Algorand as a payment method. As this line moves quickly, the video displays text stating Instant Finality. Low Fees. Designed for the speed of life. The ad finished with the cashier saying, Should have shopped with Algorand, and Anthony Scaramucci, investment guru and founder of SkyBridge, asking how to get in the fast-moving line. The Crypto Ads Conundrum The video received mixed reviews from the crypto community. Many applauded the ad, stating that Algorand is the future of Layer-1 and payments. One X user said: I cant stress enough how much the Algorand Foundation does compared to others. All the meetings, tweets, events, etcthis isnt happening on other chains! However, the negative responses didnt take long to follow. Several community members considered the jab at other chains an unnecessary and embarrassing attack. A user jokingly claimed that Algorand achieved an impossible goal with the ad: uniting all the factions of crypto to dunk on you. Crypto commentator Zach Rynes considers that this type of marketing doesnt make sense as he is unsure who it appeals to. In an X post, Rynes explained that the ad would leave the wrong impression on non-crypto people. To him, the video will make the public think that crypto sucks, not knowing that the ad is for crypto. The commentator believes its a lose-lose either way since Crypto-native people will see this as unnecessarily combative. Similarly, Mert, CEO of Helius Labs, brought up a point repeated by several community members. Mert criticized Algorand for spending money on an ad when its top two explorers [are] going out of business due to no funding. Moreover, he seems to consider the jab at other networks ironic when Algorands got its entire economic security flipped by two dog coins on Solana (WIF + BONK). Cardano Joins The Advertisement Conversation Despite the criticism, the discussion also sparked interest in the ADA community. X account ADA Whale praised the commercial for being funny. Another community member tagged Cardano founder Charles Hoskinson in the video, suggesting he should start looking for a marketing team to promote Cardano. The user cited the US governments U-turn, possibly bringing regulatory clarity, as a decisive factor. This is not the first time Cardano has received criticism over its marketing approach. In March, the conversation sparked when the Cardano Girls video became viral. Content creator Lily Brodi suggested that despite having the technology aspect figured out, Cardano has an unattractiveness problem. This problem prevents a broader audience from entering its community and adopting the technology. Related Reading: Analyst Says Only A Matter Of Time Before Bitcoin Flies Past ATH Ultimately, crypto ads remain a hot topic and a useful tool for the industry. Whether users find them cringy or unnecessary sometimes, they have the potential to help with broader adoption through educational and entertaining crypto-related content. Featured Image from Unsplash.com, Chart from TradingView.com

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Algorand Delivers Lightning-Fast Transaction Finality With Major Protocol Upgrade

Algorand (ALGO), the next-generation blockchain platform, has announced a major protocol upgrade that unleashes key new features for streamlining application development.  The protocol upgrade, now live on Mainnet, reduces block time to roughly 3.3 seconds while maintaining instant transaction finality. This represents a more than 10 percent increase in speed and reinforces Algorand’s position as a leading blockchain platform. Related Reading: Shiba Inu Becomes 14th Largest Cryptocurrency As Bull Rally Heats Up Algorand’s Latest Protocol Upgrade Sets New Standards Algorand’s ability to instantly finalize transactions and other performance enhancements empowers Algorand-based applications to deliver a user experience comparable to traditional Web2 applications while leveraging the security and decentralization inherent in blockchain technology.  The latest technical release incorporates valuable feedback from the developer community to ensure application development is faster, more accessible, and more cost-efficient. Some of the latest products and enhancements available to builders on Algorand include Simulate, a powerful simulator for smart contracts that allows developers to rigorously test, identify, and rectify any issues before deploying to Mainnet.  Simulate also enables highly versatile reading of blockchain data, offering developers a clear and customizable view of the blockchain.  The latest features for developers include group resource sharing for application calls, devmode timestamp control for testing Decentralized Applications (dApps), and new Algod endpoints for transaction group state updates. Conduit is another tool for flexible and lightweight data access. This technology enables developers to run their data solutions, accessing their specific data needs in a simple, flexible, and affordable manner.  With these new capabilities, builders can get higher quality dApps to market faster through customized data sets and faster and more efficient testing. In a statement, Paul Riegle, Chief Product Officer at Algorand, claimed: We are hyper-focused on Algorand providing the best tech for developers to engage with and end-users to experience. Through these new capabilities, builders can get higher quality dApps to market faster through customized data sets and faster and more efficient testing. Overall, the major protocol upgrade from Algorand represents an important step forward for the blockchain platform, offering faster transaction finality and key new features for streamlined application development.  With these new capabilities, Algorand is well-positioned to continue leading the way in the blockchain space and providing developers with the tools they need to build the next generation of decentralized applications. Algorand Upgrade Sparks Bull Run Hopes For ALGO According to the crypto investor and trader Zach Humphries, Layer 1 blockchains fiercely compete to attract developers and users to their ecosystems. Algorand has emerged as a strong contender with its latest protocol upgrade.  This upgrade has significantly improved the platform’s speed and efficiency, making it an attractive option for developers seeking a blockchain platform that can handle high traffic volumes. Compared to Ethereum, which dominates the market, Algorand’s speed and transaction costs are significantly better. Ethereum has been plagued by network congestion and high transaction fees, making it difficult for users and developers to take full advantage of the platform.  Algorand’s new protocol upgrade addresses these issues by reducing block time and making transactions faster and cheaper, thus providing a better user experience. Related Reading: Expert Analysis: IMF Documents And XC Platform Raise Concerns For XRP The positive news surrounding Algorand’s protocol upgrade has also had a bullish impact on the price of its native token, ALGO. While the token has experienced a significant downturn since reaching its annual high of $0.29858 in February, it has surged by 16% in the last seven days, reaching a current trading price of $0.12670. Despite the recent gains, ALGO still faces a resistance wall at $0.1520, which it needs to breach to continue its upward trend. If the token can overcome this resistance line, it could reach the $0.1751 and $0.20 price levels, which were lost during its downtrend. Featured image from Unsplash, chart from TradingView.com

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ALGO Token Scores 5% In A Day While Major Coins Turned Red

Algorand (ALGO) is breaking ground with an over 5% price increase in 24 hours. ALGO has claimed the second position among top-gaining coins today after Ripple’s XRP. Today’s rally comes after a 6.8% price gain recorded yesterday, March 21. With the current performance, Algorand (ALGO) has reclaimed most of its past week’s losses with a [...]

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Algorand Price Prediction for Today, December 31: ALGO/USD Nears Crucial $0.20 Level

The Algorand price prediction shows that ALGO faces the north as the technical indicator Relative Strength Index (14) moves to the upside. Algorand Market Price [...]

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Algorand Price Prediction for Today, November 18: ALGO/USD Bulls Losing Grip on the Market

 Bulls in the Algorand market are becoming increasingly unable to withstand bearish pressure. Towards the end of October, the market broke out of the consolidation [...]

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Algorand Price Prediction for Today, October 3: ALGO/USD Faces Down After Touching $0.36 High

The daily chart reveals that the Algorand (ALGO) price prediction slides below $0.35 after rejection at the $0.36 level. Algorand Market Price Statistic: Algorand price [...]

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Algorand (ALGO) Undermines Crypto Bloodbath, Adds Over 27% In A Week

This week has been eventful in the crypto market. Many cryptocurrencies have recorded massive losses since Monday, September 19. The Merge on September 15 kickstarted another downtrend for crypto prices. Afterward, CPI data made the feds hike the interest rate by 75 basis points, sending assets price downwards.  Related Reading: Bitcoin aSOPR Profit-Loss Junction Continues To Act As Resistance But as these macroeconomic factors push many digital assets down, others resist the pressure and move forward instead.  Algorand ALGO is one of these assets, recording price gains in its 24 hours movements. But BTC and ETH haven’t fared well. For instance, on September 20 and 21, Bitcoin lost its grip on $19K, falling to $18K.  On September 22, BTC climbed again to $19K, an intraday high, and did not hold on to that level till press time. Currently, the BTC price is again bounced to $18,914, representing a 1.91% loss in 24 hours.  Algorand’s ALGO Not Affected By Macros While many cryptocurrencies bleed, ALGO is recording positive price movements. Currently, the ALGO price is $0.3761 on TradingView, and CoinMarketCap shows a 2.48% growth in 24 hours while 27.98% in the last week. So far, ALGO price movements are all green, as seen in the chart above. The coin started an upward climb since the close of the market on September 17. It jumped from $0.2973 to $0.3109 the same day.  On September 18, ALGO lost some of its gains to close the market at $0.2925. But a few hours later, the coin jumped again and closed the market at $0.3172 on September 19. Since then, to press time, ALGO has continued its upward movement.  It climbed to $0.698 on September 22 and is today trading at $0.3767. So far, the ALGO price movement shows a continuous price gain for three consecutive days.  Analysts have also pointed out that ALGO’s moving average convergence divergence is positive. Also, the coin’s RSI (Relative Strength Index) is at 58.18, showing that ALGO is closing to the overbought region.  Why Is ALGO Surging  Even though the crypto market is negative, a lot is happening in the ALGO ecosystem. Currently, the total volume locked on the ecosystem has grown considerably. The DeFi blockchain is recording massive interest, evidenced by the $244 million worth of TVL.  This figure was its data as of September 22 after adding 4.09% growth in its TVL. Data also reveals that $100 million out of this liquidity came from AlgoFi.  Apart from growing TVL, Algorand has made partnerships. The prominent one recently is the FIFA& Algorand partnership enabling the crypto network to FIFA+ Collect. This platform is where users will buy NFT items of many types.  Related Reading: Compound Prepares For A Major Rally To $80, Here Is Why According to the details of FIFA+ Connect, the platform will operate like NBA Top Shot. Its users can purchase artwork, highlights, images, etc., from prestigious soccer competitions. The platform will launch before the World Cup, slated for November.  Featured image from Pixabay and chart from TradingView.com

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ALGO Price Breaks above $0.38 Level as TAMA Gets Hotter!

The Algorand price prediction shows that ALGO could be ready for the uptrend as the trades near $0.40 resistance today. Algorand Prediction Statistics Data: Algorand [...]

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Why LimeWire Chose Algorand For Its Comeback

Popular peer-to-peer file sharing service LimeWire will make a comeback on the blockchain. Per a press release, the platform will relaunch as a non-fungible token (NFT) marketplace running on Algorand. Related Reading | Algorand Blockchain Has Grown 35% In Q1 2022 LimeWire has selected this network, the release claims, due to Algorand’s alleged energy consumption levels which make them the blockchain “of choice for energy efficient NFT marketplaces”. The network will provide with a scalable platform with low-cost transactions, and an Ethereum-Polygon bridge. As LimeWire previously reported, the platform will support its marketplace with its own native token called LMWR. In addition to the capacity to transact with LimeWire NFTs, user will allegedly have access to “exclusive community”, voting rights, and access to a reward system. The platform will let content creators, initially musicians, to launch digital assets so fans can buy, sell, and trade them without the “technical hurdles” of alternatives. In that way, LimeWire attempts to onboard users by offering them a unique experience, and access to unique items, from their favorite artists. The press release claims: Music fans and collectors will be able to buy and trade a variety of music-related assets, such as limited editions, pre-release music, unreleased demos, graphical artwork, exclusive live versions, as well as digital merchandise and backstage content. The platform will place a special focus on users without technical expertise or those people unfamiliar with cryptocurrencies and digital assets. Thus, the “newbies” or “noobs” will be the main target audience for this re-brand. The new LimeWire platform will let users trade by completing an “easy” registration process with “seamless KYC”. As a bonus, items will be priced in U.S. dollars, and users won’t be obligated to set up a crypto wallet from the get-go. In order to complete that objective, users will be able to purchase the digital assets with their credit cards, via bank transfer, and with other traditional payment methods. LimeWire claims to have consolidate a partnership with Wyre to provide this services. LimeWire Calls On “Noobs” To Leverage Crypto The new LimeWire, according to the release, will be a hybrid platform. Created to combine the best aspect of Web2 platforms with the potential and benefits from Web3. Paul Zehetmayr, LimeWire Co-CEO, said the following on the recent announcement: The biggest challenge with digital collectibles and the broader crypto market in general is that it’s really limited to a small group of savvy users. There are big players on the market already, but the entry barrier is still too big to allow for mainstream adoption. In addition to the traditional payment methods, users will be able to use different cryptocurrencies to purchase digital assets. Algorand CEO, Steven Kokinos said: We are excited to see LimeWire launching on the Algorand blockchain and see massive potential for them to take the music collectibles market by storm. The interest for digital collectibles will only be growing and we are eager to support a global brand like LimeWire entering into the space to help open up the market to the mainstream. The new LimeWire marketplace will be launch in May 2022, according to the press release. The platform promises a “lineup of big names” for its market debut. Related Reading | Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10% At the time of writing, ALGO’s price trades at $0.68 with a 2% loss in the past 24-hours.

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Algorand is getting a bridge to Ethereum

The Algorand Foundation has awarded Applied Blockchain a grant to develop the London Bridge, a trustless bridge that will connect Algorand with Ethereum.

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Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%

Today, the Algorand Foundation announced the appointment of Staci Warden as their CEO. On the board of the foundation since September 2021, according to a press release, Warden will take on the responsibilities as its leader. Related Reading | Bitcoin Steadies Above $45k, US Inflation Comes In At 7.5% Year Over Year The Algorand Foundation will nurture from Warden vast experience. Before joining the organization, she ran the Global Market Development practice at the Milken Institute, a nonprofit think tank created with the objective of aiding people at “building meaningful lives”. At the Milken Institute, Warden led the nonprofit’s work on capital market development, innovative finance with sustainable development goals, and crypto and blockchain solutions, according to the release. Its subsequent participation in the Algorand ecosystem seems like a logical step. This network aims at becoming the hub for the “future of finance” running on its Proof-of-Stake (PoS) blockchain by merging decentralize and traditional finances. Designed with a non-carbon emission approach, with low-cost and a scalable network, Warden has acknowledged its potential. According to Kieron Guilfoyle, the Foundation’s Board Chairman: Staci understands the potential for Algorand to become a dominant Layer One blockchain, and she has the experience and expertise to drive our global efforts to scale and to deliver outstanding value to our community. I know she will waste no time in shifting the Algorand Foundation into its expansion phase. In addition to her experience at the Milken Institute, Warden ran JP Morgan’s Europe, the Middle East and Africa (EMEA) practices. She also led the Nasdaq’s two market for microcap companies and held senior positions in the public and nonprofit sector at the U.S. Treasury Department, according to the release. Furthermore, Warden worked for the Center for Global Development, and the Harvard Institute for International Development. The new member at the Foundation has experienced doing business in over 50 countries with a vast knowledge of the use cases and potential for crypto to aid people and mitigate real world issues. The Algorand Foundation, And How Crypto Can Help The World The Foundation believes the current year will be “key” in the development of ALGO network. In 2022, they expect the DeFi sector, Non-Fungible Tokens (NFTs), to continue to gain relevance and increase their adoption rates. In that sense, the Foundation has set out to make the network a core “building block” for the digital economy of the future. Warded stated the following on her new role: 1.7 billion people in the world do not have access to finance, and the Algorand protocol has the speed, the security, and the decentralization to address the problem of global financial inclusion at scale. By both ratcheting up our global ambitions as well as doubling down on our commitment to the DeFi ecosystem, I know that we will deliver tremendous value for both the Algorand ecosystem as a whole and the end-users it supports. Related Reading | Algorand, Solana, And More Lead List Of Biggest Losing Altcoins As of press time, ALGO trades at $1,01 and has seen an almost 10% profit in the last week as the crypto market continues to trend to the upside. As the year enter the end of its first quarter, it’ll be interested to see if ALGO and the market in general will be able to sustain their bullish momentum.

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Op-ed: How Algorand is gearing up to become a contender to Ethereum

The following is a guest post from Sebastian Quinn, the co-founder of Yieldly, a DeFi suite built for the Algorand blockchain.

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Top drone racing league taps Algorand (ALGO) for crypto, NFT initiatives

Top-ranked professional drone racing property Drone Racing League yesterday announced a long-term partnership with Algorand (ALGO), a high-speed blockchain platform that supports smart contracts.

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Anthony Scaramucci says Algorand (ALGO) is ‘going to be the winner’ in TradFi’s blockchain push

As part of efforts aimed at expanding its growing dive into the crypto world, SkyBridge Capital’s Anthony Scaramucci has secured a new blockchain partnership with trading platform NAX and high-speed blockchain project Algorand.

The post Anthony Scaramucci says Algorand (ALGO) is ‘going to be the winner’ in TradFi’s blockchain push appeared first on CryptoSlate.

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Algorand Foundation Launches $300 Million Fund to Support DeFi Innovation

Algorand Foundation, an organization dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, today announced the Viridis DeFi Program, a 150 million Algo (worth approximately $300 million USD today) fund to support DeFi innovation on the Algorand network.

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Algorand (ALGO) Price Turns Positive, Bulls Eyeing Further Gains?

Algorand (ALGO) has recovered from the bearish trend seen at the end of February 2023. From February 21 till May 8, ALGO recorded a loss of 45.13%, dropping to a low of $1.592. Despite the crash, buyers still pushed up the price of ALGO by more than 6% in the past few days. Traders are optimistic and are eyeing the next move in the current trend, while the bears are slowing building momentum by holding their strong short position. Will The Bulls Maintain This Current Bullish Momentum? The sustainability of ALGO’s current price trend relies on several factors. Market conditions, such as supply and demand dynamics, overall economic factors, and external events, can generally influence the price. However, the current market sentiment is bullish, while the Fear & Greed Index is 45, indicating neutral. This means the market’s state is stable, and the volatility is not high. Within the last 24 hours, Algo’s general market cap gained 1.57%, rising to over $1 billion. The 24-hour trading volume surged by 15% overnight, rising to about $33 million. Related Reading: US Banking Crisis Worsens With Half Of America’s Banks On the Verge Of Failure Notably, at the time of writing, the ALGO token is trading at $0.1683 as bulls continue to have a good day with gains of 2.50%.  However, the recent increase in ALGO’s general market suggests increased demand for the asset. As more investors and traders buy the asset, the increased buying pressure can lead to a rise in its price. The increase in trading volume suggests improved liquidity for the asset, which tend to attract more investor to the market.  ALGO Technical Analysis The price is below the 200-Day and 50-Day Simple Moving Averages (SMA). This suggests that ALGO market sentiment is still bearish; the selling momentum is stronger than the bull’s buying momentum. However, the asset might rebound if the bulls increase their momentum, as green candles are showing today in the chart. The Relative Strength Index oscillator is showing 40.18. This means the asset is currently at neutral levels; the pressure from bulls and bears is normal. Related Reading: Crypto Firms Should Ditch Banks To De-risk From Volatile Systems, Says Cardano Founder Also, MACD is currently above the signal indicating a potential uptrend. The histogram confirms the bullish sentiment as its showing green candles and also above zero. ALGO trades between its primary support and resistance levels of $0.1587 and $0.1853, respectively. The next key zones are the support level – $0.0992 and the resistance level – $0.2427. Recent Development In The Algorand Ecosystem Alogrand recently introduced a new plugin-based tool for enhancing Blockchain Data Access named Conduit. Conduit aims at providing improved access to blockchain data. It is an upgrade to the conventional one-size-fits-all Indexer, designed as a modular plugin-based tool.  This plugin empowers decentralized applications (DApps) by offering precise and tailored data retrieval capabilities, all while maintaining cost-effective deployment options. Such developments on the network could increase adoption and utility and, in time, boost ALGO’s price. Featured image from Pixabay and chart from Tradingview.com

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Algorand Price Prediction for Today, December 30 ALGO Technical Analysis

The Algorand price prediction shows that ALGO adds a tremendous 5.70% gain as the coin hits the resistance level of $0.343. Algorand Prediction Data: Algorand [...]

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Algorand Price Prediction for Today, November 28 ALGO Technical Analysis

The Algorand price prediction may continue to show a bullish movement if the market can stabilize above the moving averages. Algorand Prediction Statistics Data: Algorand [...]

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