Algorand (ALGO) Trading Up 11% Over Last Week

Algorand (ALGO) traded down 0.4% against the dollar during the 1 day period ending at 17:00 PM ET on May 7th. One Algorand coin can now be purchased for $0.19 or 0.00000309 BTC on cryptocurrency exchanges. Algorand has a market capitalization of $1.59 billion and approximately $51.07 million worth of Algorand was traded on exchanges in the last day. During the last seven days, Algorand has traded up 11% against the dollar.

Here is how similar cryptocurrencies have performed during the last day:

• Avalanche (AVAX) traded 3.9% lower against the dollar and now trades at $36.11 or 0.00057316 BTC.
• NEAR Protocol (NEAR) traded 0.2% lower against the dollar and now trades at $7.37 or 0.00011691 BTC.
• Internet Computer (ICP) traded down 2.3% against the dollar and now trades at $12.64 or 0.00020059 BTC.
• Hedera (HBAR) traded down 2.9% against the dollar and now trades at $0.11 or 0.00000175 BTC.
• Cosmos (ATOM) traded down 1.7% against the dollar and now trades at $9.19 or 0.00014587 BTC.
• Cronos (CRO) traded 1.9% lower against the dollar and now trades at $0.13 or 0.00000203 BTC.
• Fetch.ai (FET) traded down 0.7% against the dollar and now trades at $2.40 or 0.00003802 BTC.
• Akash Network (AKT) traded 1.6% lower against the dollar and now trades at $4.72 or 0.00007489 BTC.
• Kava (KAVA) traded 2.2% lower against the dollar and now trades at $0.67 or 0.00001061 BTC.
• Theta Fuel (TFUEL) traded up 2% against the dollar and now trades at $0.11 or 0.00000172 BTC.

Algorand Coin Profile

ALGO uses the hashing algorithm. Its launch date was June 11th, 2019. Algorand’s total supply is 10,000,000,000 coins and its circulating supply is 8,148,266,166 coins. The official message board for Algorand is forum.algorand.org. Algorand’s official website is algorand.foundation. The Reddit community for Algorand is https://reddit.com/r/algorandofficial and the currency’s Github account can be viewed here. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here.

According to CryptoCompare, “Algorand (ALGO) is a decentralized, permissionless blockchain protocol and open-source cryptocurrency used to facilitate transactions and secure the network against malicious actors. It is designed to provide fast, secure, and reliable transactions with low transaction fees and scalability. Algorand (ALGO) is an asset-agnostic, proof-of-stake protocol used for transferring money, purchasing goods and services, sending messages securely, creating and deploying decentralized applications (dApps), tokenizing assets, and creating smart contracts. Algorand (ALGO) is a valuable asset for investors due to its low transaction fees, scalability, and security. It was created by Silvio Micali, a Turing Award-winning professor at MIT and renowned cryptography expert, and is managed by the Algorand Foundation.”

Algorand Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as Algorand directly using US dollars. Investors seeking to trade Algorand should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Algorand using one of the aforementioned exchanges.

ALGO/USD price chart by TradingView