Algorand (ALGO) Achieves Self Reported Market Cap of $1.55 Billion

Algorand (ALGO) traded up 0.4% against the US dollar during the 24-hour period ending at 0:00 AM ET on May 8th. Over the last seven days, Algorand has traded 6.5% higher against the US dollar. One Algorand coin can now be purchased for approximately $0.19 or 0.00000309 BTC on exchanges. Algorand has a total market cap of $1.55 billion and $56.19 million worth of Algorand was traded on exchanges in the last day.

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

• Avalanche (AVAX) traded down 2.7% against the dollar and now trades at $34.33 or 0.00055881 BTC.
• NEAR Protocol (NEAR) traded 0.8% lower against the dollar and now trades at $7.16 or 0.00011656 BTC.
• Internet Computer (ICP) traded down 3.1% against the dollar and now trades at $12.04 or 0.00019604 BTC.
• Hedera (HBAR) traded 1.1% higher against the dollar and now trades at $0.11 or 0.00000177 BTC.
• Cosmos (ATOM) traded up 2.7% against the dollar and now trades at $9.27 or 0.00015098 BTC.
• Cronos (CRO) traded 0.2% lower against the dollar and now trades at $0.13 or 0.00000205 BTC.
• Fetch.ai (FET) traded 5.2% lower against the dollar and now trades at $2.23 or 0.00003631 BTC.
• Akash Network (AKT) traded 7% lower against the dollar and now trades at $4.28 or 0.00006975 BTC.
• Kava (KAVA) traded down 0.2% against the dollar and now trades at $0.66 or 0.00001075 BTC.
• Theta Fuel (TFUEL) traded 0.5% higher against the dollar and now trades at $0.11 or 0.00000178 BTC.

About Algorand

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 8,148,257,203 coins. The Reddit community for Algorand is https://reddit.com/r/algorandofficial and the currency’s Github account can be viewed here. Algorand’s official message board is forum.algorand.org. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here. 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 U.S. dollars. Investors seeking to trade Algorand should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. 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