The 9.13% decline this Monday in the ALGO/USDT pair is triggering new bearish Algorand price predictions. The heavy downside seen...
Algorand
Algorand is a blockchain protocol that aims to be highly scalable. It uses a Byzantine agreement protocol and a consensus algorithm derived from a proof-of-stake consensus mechanism. In addition, it distributes validator rewards to the holders of its native cryptocurrency.
What is Algorand?
The native cryptocurrency of Algorand is ALGO. It was launched in 2019 by Silvio Micali, a professor at the Massachusetts Institute of Technology (MIT).
Micali created Algorand as a network that focuses on payments, but unlike Bitcoin, it can handle more transactions 1200 (TPS). After the ongoing upgrade that adds “instant finality” to the Algorand network is complete, it will handle 3000 (TPS). Bitcoin can only handle under 5 TPS, and Ethereum can handle about 13 TPS. The feature helps Algorand achieve scalability, and that’s why some believe it’s an ’Ethereum killer’.
Algorand’s public version allows other developers to design new applications based on cryptocurrency. It has been previously used in copyright, real estate microfinance and more.
Is Algorand a good investment?
It has a remarkable ability to work across many blockchain networks. It has recently seen a rise in prices. This is a positive attribute that investors will consider when choosing to invest or not in the same. It’s also wise to note that cryptocurrencies are incredibly volatile, so do not invest money you cannot afford to lose.
Algorand latest news
Algorand’s price is trading above its opening price by one per cent, a continuation of the recent resurgence of the...
The Algorand price has defied gravity. While a sea of red has engulfed the cryptocurrencies market, ALGO has jumped to...
Algorand price has been in a strong bullish comeback in the past few weeks as cryptocurrencies rebound. The ALGO coin...
Our Algorand price prediction suggests that a huge upside is on the cards if bulls bring their A-game to the...
After last week’s failed breakout, the Algorand price is retreating. This may offer the ALGO bulls a chance to accumulate...
Our previous Algorand price prediction is hanging by a thread as the price keeps making new lows weekly. Most cryptocurrencies...
Algorand (ALGO) price is having a strong rebound from its all-time lows. ALGO crypto plummeted to its lowest level in...
Our analysis suggests that Algorand price could surge by more than 100% if it reclaims a key level. In the...
Algorand price pulled back to the lowest level since September 20th as investors waited for the upcoming FOMC decision. The...