Algorand Reaches Self Reported Market Cap of $1.03 Billion (ALGO)

Algorand (ALGO) traded 7.2% higher against the U.S. dollar during the 1 day period ending at 15:00 PM ET on October 29th. During the last week, Algorand has traded up 0.2% against the U.S. dollar. One Algorand coin can now be purchased for approximately $0.12 or 0.00000168 BTC on major cryptocurrency exchanges. Algorand has a market cap of $1.03 billion and $26.97 million worth of Algorand was traded on exchanges in the last day.

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

• Avalanche (AVAX) traded 5.2% higher against the dollar and now trades at $27.11 or 0.00036858 BTC.
• NEAR Protocol (NEAR) traded up 6.4% against the dollar and now trades at $4.46 or 0.00006069 BTC.
• Internet Computer (ICP) traded 5.6% higher against the dollar and now trades at $8.14 or 0.00011070 BTC.
• Cronos (CRO) traded up 4.7% against the dollar and now trades at $0.0770 or 0.00000105 BTC.
• Hedera (HBAR) traded up 4.8% against the dollar and now trades at $0.0502 or 0.00000068 BTC.
• Cosmos (ATOM) traded up 4.7% against the dollar and now trades at $4.55 or 0.00006192 BTC.
• Fetch.ai (FET) traded up 10.6% against the dollar and now trades at $1.35 or 0.00001835 BTC.
• Akash Network (AKT) traded up 8.6% against the dollar and now trades at $2.41 or 0.00003301 BTC.
• Theta Fuel (TFUEL) traded 5.5% higher against the dollar and now trades at $0.0566 or 0.00000077 BTC.
• Kava (KAVA) traded up 9.7% against the dollar and now trades at $0.35 or 0.00000474 BTC.

Algorand Coin Profile

Algorand (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 8,331,732,993 coins. 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. The official message board for Algorand is forum.algorand.org. 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 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 Gemini, Changelly or GDAX. 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