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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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....
Algorand native token, ALGO, has dropped 17% since the start of this month and has now joined the group of cryptocurrencies whose prices have tumbled by double digits this month. Algorand sheds 91.30% from ATH of $3.28 ALGO price now trading at $0.2985 MFI at 17 reaches oversold zone Away by 91.30% from its record high of $3.28, ALGO is the 30th-ranked cryptocurrency with the greatest market capitalization. Related Reading: VeChain Pulled In Sideways Motion As VET Price Faces Rejection At $0.0247 ALGO Price Loses 0.81% Of Value According to CoinMarketCap, ALGO price has dipped by 0.81% or....
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....
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....
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....