Stablecoin adoption and pivot to DeFi drive Algorand (ALGO) price higher

Stablecoin adoption and pivot to DeFi drive Algorand (ALGO) price higher

Algorand rallied to a multi-year high after the network emerged as a possible choice for central bank digital currencies and the team revealed its DeFi plans. In the past few months cryptocurrencies have become a frequent topic of discussion among the mainstream media and traditional investors partially because of the Bitcoin evangelism of well-known influencers like Elon Musk, Mark Cuban and Michael Saylor. One platform that has benefited from increased attention on the cryptocurrency sector is Algorand (ALGO), a scalable, secure, and decentralized digital currency platform.Since the....


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Here’s why Algorand's price just rallied to a new multi-year high

Institutional investment, new governance features and a groundbreaking project with the government of El Salvador are just a few of the factors behind ALGO’s rally to a new all-time high. Real-world adoption is what really matters when it comes to being a successful blockchain project and one project that benefited from a recent uptick in adoption is Algorand (ALGO), a pure proof-of-stake protocol aiming to become the go-to base layer for the global financial industry. ALGO/USDT 1-day chart. Source: TradingViewData from Cointelegraph Markets Pro and TradingView shows that since bottoming....

New fund aims to put hundreds of millions toward Algorand DeFi growth

Different decentralized finance solutions building on the Algorand blockchain could receive a chunk of a new $300 million fund. Decentralized finance, or DeFi, has developed significantly over the past two years. The Algorand Foundation has unveiled a new fund positioned to allocate money toward certain DeFi projects looking to build on its native blockchain. The pool of capital is called the Viridis DeFi fund, headed up by the Algorand Foundation — a group that responsible for the Algorand blockchain and its ecosystem development. “This fund will provide 150 Million Algo to fuel the....

Direct Fiat On-Ramps Come to Algorand (ALGO) via Alchemy Pay (ACH)

PRESS RELEASE. Singapore, 10 January, 2022: Algorand (ALGO), the layer-1 blockchain for decentralized and traditional finance, has added direct fiat payment channels into their network, thanks to a new integration with Alchemy Pay (ACH). Alchemy Pay, is a payment solutions provider that connects fiat and crypto economies, and its global merchant network now supports Algorand’s $ALGO token for payments in 65 countries. Algorand also announced it has joined the Blockchain Infrastructure Alliance which was inaugurated in October by Alchemy Pay, NEO, NEAR, and Polygon. The....

Algorand (ALGO) price strengthens as institutional investors back the project

Backing from institutional investors and a series of new partnerships could help ALGO break from its current range in the coming week. Consolidation periods tend to follow strong rallies but they also present a good opportunity to survey the field and evaluate projects that have strong fundamentals.One project that continues to gain traction in terms of price recovery and network adoption is Algorand (ALGO), a pure proof-of-stake (POS) blockchain network that has secured new partnerships and real-world use case applications, as well as support from multi-million-dollar funds in recent....

Algorand launches virtual machine to increase smart contract capabilities

The upgrade promises to deliver negative carbon output across the platform. Blockchain platform Algorand has today announced the launch of the Algorand Virtual Machine, or AVM, a layer-1 protocol upgrade designed to enhance decentralized app scalability for developers and organizations, enable instant transaction finality and sustain a negative carbon output. In addition to these advancements, the AVM will also give developers program tools to write smart contracts in Python or Reach, a format similar to the multi-paradigm web page language Javascript.Cointelegraph reached out to....