Algorand Trading Down 19.4% Over Last Week (ALGO)

Algorand (ALGO) traded down 7% against the US dollar during the twenty-four hour period ending at 14:00 PM E.T. on January 13th. During the last week, Algorand has traded down 19.4% against the US dollar. One Algorand coin can now be bought for about $0.34 or 0.00000368 BTC on cryptocurrency exchanges. Algorand has a total market capitalization of $2.84 billion and $255.83 million worth of Algorand was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed during the last day:

• Avalanche (AVAX) traded 8.5% lower against the dollar and now trades at $33.76 or 0.00036646 BTC.
• Hedera (HBAR) traded down 5.8% against the dollar and now trades at $0.27 or 0.00000290 BTC.
• NEAR Protocol (NEAR) traded down 9.2% against the dollar and now trades at $4.56 or 0.00004952 BTC.
• Internet Computer (ICP) traded 7.3% lower against the dollar and now trades at $9.59 or 0.00010407 BTC.
• Cronos (CRO) traded 6.5% lower against the dollar and now trades at $0.13 or 0.00000141 BTC.
• Fetch.ai (FET) traded down 8.7% against the dollar and now trades at $1.19 or 0.00001297 BTC.
• Cosmos (ATOM) traded down 6.2% against the dollar and now trades at $6.10 or 0.00006623 BTC.
• Akash Network (AKT) traded 9.6% lower against the dollar and now trades at $2.75 or 0.00002995 BTC.
• Kava (KAVA) traded 10.7% lower against the dollar and now trades at $0.44 or 0.00000474 BTC.
• Theta Fuel (TFUEL) traded 15.7% lower against the dollar and now trades at $0.0661 or 0.00000072 BTC.

About Algorand

Algorand (CRYPTO:ALGO) uses the hashing algorithm. It launched on June 11th, 2019. Algorand’s total supply is 10,000,000,000 coins and its circulating supply is 8,373,022,002 coins. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here. 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. The official message board for Algorand is forum.algorand.org.

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 presently possible to purchase alternative cryptocurrencies such as Algorand directly using US dollars. Investors seeking to trade Algorand should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Algorand using one of the aforementioned exchanges.

ALGO/USD price chart by TradingView