Algorand (ALGO) Trading 3.8% Higher This Week

Algorand (ALGO) traded down 3.2% against the U.S. dollar during the 24-hour period ending at 16:00 PM E.T. on November 17th. Algorand has a market capitalization of $1.05 billion and $54.90 million worth of Algorand was traded on exchanges in the last 24 hours. One Algorand coin can now be purchased for $0.13 or 0.00000362 BTC on major cryptocurrency exchanges. During the last week, Algorand has traded 3.8% higher against the U.S. dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• Avalanche (AVAX) traded 2.6% lower against the dollar and now trades at $21.36 or 0.00058711 BTC.
• Cosmos (ATOM) traded 5.3% lower against the dollar and now trades at $9.14 or 0.00025131 BTC.
• Cronos (CRO) traded up 0.9% against the dollar and now trades at $0.0973 or 0.00000267 BTC.
• Hedera (HBAR) traded up 0.8% against the dollar and now trades at $0.0618 or 0.00000170 BTC.
• Internet Computer (ICP) traded down 2.9% against the dollar and now trades at $4.26 or 0.00011717 BTC.
• NEAR Protocol (NEAR) traded up 3.9% against the dollar and now trades at $1.82 or 0.00005013 BTC.
• Kava (KAVA) traded 3.2% lower against the dollar and now trades at $0.77 or 0.00002130 BTC.
• Fetch.ai (FET) traded down 0.4% against the dollar and now trades at $0.43 or 0.00001190 BTC.
• Theta Fuel (TFUEL) traded down 1.1% against the dollar and now trades at $0.0442 or 0.00000121 BTC.
• Akash Network (AKT) traded 1% lower against the dollar and now trades at $1.02 or 0.00002794 BTC.

Algorand Coin Profile

ALGO uses the hashing algorithm. It launched on June 19th, 2019. Algorand’s total supply is 8,006,092,712 coins. Algorand’s official message board is medium.com/algorand-foundation. The Reddit community for Algorand is https://reddit.com/r/algorandofficial and the currency’s Github account can be viewed here. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here. The official website for Algorand 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.”

Algorand Coin Trading

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

ALGO/USD price chart by TradingView