Algorand Reaches Self Reported Market Capitalization of $1.59 Billion (ALGO)

Algorand (ALGO) traded up 1.2% against the U.S. dollar during the 24-hour period ending at 0:00 AM ET on May 5th. One Algorand coin can currently be bought for approximately $0.19 or 0.00000305 BTC on major exchanges. Algorand has a total market capitalization of $1.59 billion and approximately $46.16 million worth of Algorand was traded on exchanges in the last day. In the last week, Algorand has traded up 2.4% against the U.S. dollar.

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

• Avalanche (AVAX) traded up 0.9% against the dollar and now trades at $37.48 or 0.00058579 BTC.
• NEAR Protocol (NEAR) traded 6.3% higher against the dollar and now trades at $7.27 or 0.00011364 BTC.
• Internet Computer (ICP) traded 1.5% higher against the dollar and now trades at $13.11 or 0.00020487 BTC.
• Hedera (HBAR) traded 4.2% higher against the dollar and now trades at $0.11 or 0.00000179 BTC.
• Cosmos (ATOM) traded up 7% against the dollar and now trades at $9.33 or 0.00014587 BTC.
• Cronos (CRO) traded 2.1% higher against the dollar and now trades at $0.13 or 0.00000210 BTC.
• Fetch.ai (FET) traded up 12.8% against the dollar and now trades at $2.40 or 0.00003744 BTC.
• Akash Network (AKT) traded up 14.3% against the dollar and now trades at $4.90 or 0.00007660 BTC.
• Kava (KAVA) traded up 1.7% against the dollar and now trades at $0.69 or 0.00001072 BTC.
• Theta Fuel (TFUEL) traded up 0.5% against the dollar and now trades at $0.11 or 0.00000169 BTC.

Algorand Coin Profile

ALGO 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 8,145,277,849 coins. Algorand’s official message board 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. The official website for Algorand is algorand.foundation. 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 presently 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, Changelly or Gemini. 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