Algorand Price Analysis
Algorand Climbs by 2% in 24 Hours
In the last 24 hours, Algorand (ticker name ALGO) has moved up by 2%. However, there is still some to and fro between
buyers and sellers, as we can see some dips in the hourly trends.
What is Algorand?
Algorand described itself as an autonomous, decentralized blockchain supporting various applications through its secure,
scalable, and efficient properties. Invented to accelerate transactions and increase efficiency, Algorand is a green
blockchain project that uses a proof-of-stake blockchain protocol.
What Could be Facilitating ALGO’s Recent Upswings?
Panic bounce is the only reason that many could think why Algorand has moved up on the price charts. It is common for
the crypto whales and investors to come together to rally a token as soon as it hits its lows.
Algorand Price Analysis
Algorand’s downturn coincided with Bitcoin’s failure to remain closer to the $30k mark, and it made three consecutive
red candles like others on its daily chart.
Algorand Alternative – Sonik Coin
While Algorand is slowly making its way up after reaching its all-time lows, it would be hard to get closer to its
all-time highs anytime soon. Therefore, it would be better for investors to look for alternative investments, such
as Sonik Coin.
Source: CoinMarketCap
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