Algorand Trading 7.7% Lower This Week (ALGO)

Algorand (ALGO) traded 4.8% lower against the US dollar during the twenty-four hour period ending at 9:00 AM Eastern on December 11th. One Algorand coin can now be bought for approximately $0.13 or 0.00000144 BTC on popular cryptocurrency exchanges. Algorand has a market cap of $1.14 billion and approximately $59.26 million worth of Algorand was traded on exchanges in the last 24 hours. Over the last week, Algorand has traded 7.7% lower against the US dollar.

Here’s how other cryptocurrencies have performed over the last 24 hours:

• Cronos (CRO) traded down 3% against the dollar and now trades at $0.10 or 0.00000113 BTC.
• Avalanche (AVAX) traded 7% lower against the dollar and now trades at $13.29 or 0.00014716 BTC.
• Hedera (HBAR) traded 5.1% lower against the dollar and now trades at $0.13 or 0.00000143 BTC.
• NEAR Protocol (NEAR) traded down 4.6% against the dollar and now trades at $1.67 or 0.00001846 BTC.
• Internet Computer (ICP) traded down 3.6% against the dollar and now trades at $3.35 or 0.00003712 BTC.
• Cosmos (ATOM) traded 3% lower against the dollar and now trades at $2.19 or 0.00002422 BTC.
• Fetch.ai (FET) traded 6.4% lower against the dollar and now trades at $0.24 or 0.00000267 BTC.
• Theta Fuel (TFUEL) traded down 2.2% against the dollar and now trades at $0.0211 or 0.00000023 BTC.
• PayProtocol Paycoin (PCI) traded up 4.9% against the dollar and now trades at $0.0708 or 0.00000078 BTC.
• Akash Network (AKT) traded 2.3% lower against the dollar and now trades at $0.43 or 0.00000476 BTC.

About Algorand

Algorand uses the hashing algorithm. It was first traded on June 11th, 2019. Algorand’s total supply is 10,000,000,000 coins and its circulating supply is 8,825,193,984 coins. Algorand’s official message board is forum.algorand.org. Algorand’s official website is algorand.foundation. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here. The Reddit community for Algorand is https://reddit.com/r/algorandofficial and the currency’s Github account can be viewed here.

According to CryptoCompare, “The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.The Algorand platform is a public, a permissionless pure proof-of-stake blockchain protocol that solves the “blockchain trilemma” of achieving scalability, security, and true decentralization all at once.Performance on the Algorand platform exceeds 1000 transactions per second (TPS) with a latency of fewer than 5 seconds, putting it on par with the throughput of major global payment networks without compromising security or decentralization.”

Buying and Selling Algorand

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

ALGO/USD price chart by TradingView