Algorand (ALGO) Self Reported Market Capitalization Achieves $1.56 Billion

Algorand (ALGO) traded 2% lower against the U.S. dollar during the 24 hour period ending at 16:00 PM Eastern on May 8th. One Algorand coin can now be purchased for approximately $0.19 or 0.00000308 BTC on exchanges. Over the last seven days, Algorand has traded 7.5% higher against the U.S. dollar. Algorand has a market cap of $1.56 billion and $55.39 million worth of Algorand was traded on exchanges in the last day.

Here’s how related cryptocurrencies have performed over 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 5.6% lower against the dollar and now trades at $6.94 or 0.00011162 BTC.
• Internet Computer (ICP) traded down 3.9% 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 down 0.3% against the dollar and now trades at $9.20 or 0.00014813 BTC.
• Cronos (CRO) traded 0.5% lower against the dollar and now trades at $0.13 or 0.00000205 BTC.
• Fetch.ai (FET) traded 9.4% lower 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 0.8% lower against the dollar and now trades at $0.11 or 0.00000175 BTC.

Algorand Coin Profile

Algorand (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. 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.

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 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 Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Algorand using one of the exchanges listed above.

ALGO/USD price chart by TradingView