Algorand Trading Up 7.5% Over Last Week (ALGO)

Algorand (ALGO) traded down 2% against the U.S. dollar during the one day period ending at 16:00 PM E.T. on May 8th. One Algorand coin can now be bought for approximately $0.19 or 0.00000308 BTC on major cryptocurrency exchanges. Algorand has a market capitalization of $1.56 billion and $55.39 million worth of Algorand was traded on exchanges in the last day. In the last seven days, Algorand has traded up 7.5% against the U.S. dollar.

Here is how other cryptocurrencies have performed in the last day:

• Avalanche (AVAX) traded down 4.9% against the dollar and now trades at $34.45 or 0.00055450 BTC.
• NEAR Protocol (NEAR) traded down 5.6% against the dollar and now trades at $6.94 or 0.00011162 BTC.
• Internet Computer (ICP) traded 3.9% lower against the dollar and now trades at $12.20 or 0.00019644 BTC.
• Hedera (HBAR) traded down 1.9% against the dollar and now trades at $0.11 or 0.00000175 BTC.
• Cosmos (ATOM) traded 0.3% lower against the dollar and now trades at $9.20 or 0.00014813 BTC.
• Cronos (CRO) traded down 0.5% against the dollar and now trades at $0.13 or 0.00000205 BTC.
• Fetch.ai (FET) traded down 9.4% against the dollar and now trades at $2.19 or 0.00003518 BTC.
• Akash Network (AKT) traded 7.4% lower against the dollar and now trades at $4.36 or 0.00007002 BTC.
• Kava (KAVA) traded down 0.5% against the dollar and now trades at $0.66 or 0.00001070 BTC.
• Theta Fuel (TFUEL) traded down 0.8% against the dollar and now trades at $0.11 or 0.00000175 BTC.

About Algorand

Algorand (CRYPTO: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 8,148,259,987 coins. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here. The official message board for Algorand is forum.algorand.org. The Reddit community for Algorand is https://reddit.com/r/algorandofficial and the currency’s Github account can be viewed here. Algorand’s official website is algorand.foundation.

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.”

Buying and Selling Algorand

It is usually not currently possible to purchase alternative cryptocurrencies such as Algorand directly using US dollars. Investors seeking to acquire Algorand should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. 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