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Algorand (ALGO): Price Updates, Recent Developments, Future Events, Community

The carbon-negative blockchain network, Algorand, has been selected by El Salvador for building government blockchain infrastructures. The Algorand Foundation has launched...
Algorand (ALGO): Price Updates, Recent Developments, Future Events, Community Algorand (ALGO): Price Updates, Recent Developments, Future Events, Community

  • The carbon-negative blockchain network, Algorand, has been selected by El Salvador for building government blockchain infrastructures.
  • The Algorand Foundation has launched the $300 million Viridis DeFi fund to support DeFi innovation.
  • Similarly, SkyBridge and NAX have announced another $250 million fund to accelerate the growth of dApps on Algorand.
  • Over the last month, ALGO has climbed by 136% and is now valued at $2.079.

Launched in June 2019, Algorand is a decentralized network built to simultaneously solve the blockchain trilemma of achieving speed, security, and decentralization. The permissionless and open-source blockchain network of Algorand has been used in real estate, copyright, microfinance and more.

Algorand broke into headlines after an astonishing price rally saw it rise through the ranks to become the crypto with the 17th largest market cap. Even more fascinating, Algorand (ALGO) rose by as much as 73% in five days during the recent market crash. How has Algorand fared in recent times?

Price Updates

The strong performance of Algorand continues into this week, making it one of the biggest gainers. ALGO opened for trade last week at $1.31, but quickly rose to peak at $2.47 on September 13th, securing 17th in the crypto rankings in the process.

The 30 days price chart of Algorand (ALGO). Source: Tradingview.com

At the time of this writing, over the last 30 days, ALGO has climbed by 136%. The project is now trading at $2.079 and has a market cap of $10.99 billion. Algorand is currently the 18th largest crypto by market cap ranking after a 12% correction.

The DailyCoin team found that the Algorand community has been ecstatic about the price rise of the ALGO token. One Twitter (NYSE:TWTR) user, @1CrypticPoet, wrote;

After ALGO crossed $2, another user, Michael Beckerman, wrote on Twitter;

Recent Developments and Future Events

The price pump of Algorand has been fuelled by a range of positive news about the project. However, while many were engrossed in the euphoria of Bitcoin becoming a legal tender in El Salvador, the news that Algorand was chosen by the country in its quest for blockchain infrastructure slipped by many.

Algorand announced that El Salvador is currently working with @koibanx to leverage its blockchain technology for government blockchain infrastructures. In addition, Algorand’s blockchain will be used across the republic’s services industry, and Algorand will be used as a layer 1 solution in a continuation of its work to deliver FutureFi.

Global lending issuer, e-Money.com, has announced a new integration with the Algorand network. The integration will bring fully backed European stablecoins across the Algorand ecosystem. In addition, it will help to expand the overall access of Algorand and drive the adoption of Algorand-based applications for users across Europe.

In other news, the Algorand Foundation has launched the Viridis DeFi fund – a $300 million fund to support DeFi innovation. In addition, approximately 150 million ALGO coins will sponsor the significant early growth of DeFi projects in the Algorand ecosystem.

Regarding funds, SkyBridge and NAX have recently announced a further $250 million fund aiming to accelerate the growth of dApps on Algorand. The fund will focus on new financial applications across North America and the Middle East, according to the announcement.

The new integration and funds launched on the Algorand network could be a driving force for the mainstream adoption of Algorand. In the coming months, we could see more dApps and DeFi applications hit the Algorand ecosystem.

On The Flipside

  • After a spectacular week at the market, ALGO has failed to continue on its uptrend amidst the flood of positive news.
  • Over the last 24 hours, ALGO has dropped by over 10%, which has led to a drop in its market cap.
  • ALGO lost approximately $1.5 billion in market cap and is now ranked at 18th.

Community

Before making headlines, Algorand had flown mainly under the radar since its launch in 2019, though the project has a respectable social media following, with over 138k followers on Twitter. While a good portion of ALGO traders are new investors, the ALGO community also has fervent believers in the project. One user, @TheDayTraderX, wrote on Twitter;

Another user, @ThomasMelskens, wrote;

Why You Should Care?

Algorand is not just an emerging project, but one that holds a lot of promise. In the words of American entrepreneur and founder of Skybridge, Anthony Scaramucci, “Algorand is going to be the winner in building the backbone for what institutions and financial services companies need.”

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22-09-2021 09:26:04 (UTC+7)

EUR/USD

1.1728

+0.0005 (+0.04%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (3)

EUR/USD

1.1728

+0.0005 (+0.04%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (3)

GBP/USD

1.3664

+0.0004 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (2)

USD/JPY

109.37

+0.16 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.7247

+0.0016 (+0.23%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

USD/CAD

1.2796

-0.0019 (-0.14%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

EUR/JPY

128.25

+0.22 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

EUR/CHF

1.0833

+0.0009 (+0.09%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

Gold Futures

1,777.85

-0.35 (-0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

Silver Futures

22.707

+0.096 (+0.42%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (8)

Copper Futures

4.2135

+0.1035 (+2.52%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (5)

Crude Oil WTI Futures

71.08

+0.59 (+0.84%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (4)

Brent Oil Futures

74.84

+0.48 (+0.65%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (6)

Natural Gas Futures

4.831

+0.028 (+0.58%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

US Coffee C Futures

183.70

+1.10 (+0.60%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

4,097.51

+53.88 (+1.33%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

S&P 500

4,354.18

-3.55 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

DAX

15,348.53

+216.47 (+1.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

FTSE 100

6,980.98

+77.07 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Hang Seng

24,221.54

+122.40 (+0.51%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (2)

US Small Cap 2000

2,190.36

+8.15 (+0.37%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

IBEX 35

8,756.00

+100.60 (+1.16%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

BASF SE NA O.N.

62.280

+0.620 (+1.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Bayer AG NA

45.70

+0.47 (+1.04%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

187.45

+3.59 (+1.95%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (0)

Adidas AG

281.90

+1.38 (+0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

8.377

-0.287 (-3.31%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

Siemens AG Class N

145.32

+3.06 (+2.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (9)

Deutsche Bank AG

10.095

-0.135 (-1.32%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (3)

 EUR/USD1.1728Neutral
 GBP/USD1.3664↑ Buy
 USD/JPY109.37↑ Sell
 AUD/USD0.7247↑ Sell
 USD/CAD1.2796↑ Buy
 EUR/JPY128.25↑ Sell
 EUR/CHF1.0833↑ Sell
 Gold1,777.85↑ Buy
 Silver22.707Sell
 Copper4.2135Neutral
 Crude Oil WTI71.08Neutral
 Brent Oil74.84↑ Sell
 Natural Gas4.831↑ Buy
 US Coffee C183.70↑ Buy
 Euro Stoxx 504,097.51↑ Buy
 S&P 5004,354.18↑ Sell
 DAX15,348.53↑ Buy
 FTSE 1006,980.98↑ Buy
 Hang Seng24,221.54Neutral
 Small Cap 20002,190.36↑ Sell
 IBEX 358,756.00Neutral
 BASF62.280↑ Sell
 Bayer45.70↑ Buy
 Allianz187.45↑ Buy
 Adidas281.90↑ Sell
 Lufthansa8.377↑ Sell
 Siemens AG145.32↑ Sell
 Deutsche Bank AG10.095Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,710
(10/ 10) # 816
SJC HCM5,650/ 5,715
(5/ 5) # 821
SJC Hanoi5,650/ 5,717
(5/ 5) # 823
SJC Danang5,650/ 5,717
(5/ 5) # 823
SJC Nhatrang5,650/ 5,717
(5/ 5) # 823
SJC Cantho5,650/ 5,717
(5/ 5) # 823
Cập nhật 22-09-2021 09:26:06
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ↀ Giá vàng thế giới
$1,777.18+12.060.68%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2149021910
RON 95-II,III2139021810
E5 RON 92-II2014020540
DO 0.05S1602016340
DO 0,001S-V1637016690
Dầu hỏa1508015380
ↂ Giá dầu thô thế giới
WTI$71.01-0.27-0.38%
Brent$74.13+0.550.73%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR26.007,0827.360,60
GBP30.295,3831.561,13
JPY203,28215,04
KRW16,6220,24
Cập nhật lúc 09:24:41 22/09/2021
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