Algorand (ALGO) Price Reaches $0.17 on Major Exchanges

Algorand (ALGO) traded 4.5% lower against the U.S. dollar during the 1-day period ending at 12:00 PM E.T. on May 16th. One Algorand coin can currently be purchased for $0.17 or 0.00000263 BTC on cryptocurrency exchanges. During the last week, Algorand has traded down 9% against the U.S. dollar. Algorand has a market capitalization of $1.41 billion and $79.05 million worth of Algorand was traded on exchanges in the last 24 hours.

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

• Avalanche (AVAX) traded 0% higher against the dollar and now trades at $34.36 or 0.00052197 BTC.
• NEAR Protocol (NEAR) traded up 3.7% against the dollar and now trades at $8.08 or 0.00012269 BTC.
• Internet Computer (ICP) traded 0.4% lower against the dollar and now trades at $12.18 or 0.00018498 BTC.
• Hedera (HBAR) traded 0.1% lower against the dollar and now trades at $0.11 or 0.00000167 BTC.
• Cronos (CRO) traded 1.4% lower against the dollar and now trades at $0.12 or 0.00000187 BTC.
• Cosmos (ATOM) traded 0% higher against the dollar and now trades at $8.38 or 0.00012734 BTC.
• Fetch.ai (FET) traded 0.1% lower against the dollar and now trades at $2.20 or 0.00003347 BTC.
• Akash Network (AKT) traded 6.3% higher against the dollar and now trades at $5.74 or 0.00008683 BTC.
• Kava (KAVA) traded 1.5% higher against the dollar and now trades at $0.66 or 0.00000996 BTC.
• Theta Fuel (TFUEL) traded up 8.1% against the dollar and now trades at $0.10 or 0.00000159 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 8,154,240,394 coins. 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 message board is forum.algorand.org. 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.”

Buying and Selling Algorand

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

ALGO/USD price chart by TradingView