Algorand (ALGO) Hits Self Reported Market Cap of $2.26 Billion

Algorand (ALGO) traded 7.1% lower against the dollar during the twenty-four hour period ending at 13:00 PM ET on February 6th. One Algorand coin can currently be purchased for $0.27 or 0.00000278 BTC on popular cryptocurrency exchanges. Algorand has a market capitalization of $2.26 billion and $161.03 million worth of Algorand was traded on exchanges in the last day. Over the last week, Algorand has traded down 30.8% against the dollar.

Here is how related cryptocurrencies have performed over the last day:

• Avalanche (AVAX) traded 4.8% lower against the dollar and now trades at $24.72 or 0.00025620 BTC.
• Hedera (HBAR) traded 4.5% lower against the dollar and now trades at $0.23 or 0.00000239 BTC.
• NEAR Protocol (NEAR) traded down 3.2% against the dollar and now trades at $3.17 or 0.00003289 BTC.
• Internet Computer (ICP) traded down 3.4% against the dollar and now trades at $6.72 or 0.00006965 BTC.
• Cronos (CRO) traded 6.8% lower against the dollar and now trades at $0.0953 or 0.00000099 BTC.
• Cosmos (ATOM) traded 5.9% lower against the dollar and now trades at $4.44 or 0.00004601 BTC.
• Fetch.ai (FET) traded down 4.2% against the dollar and now trades at $0.72 or 0.00000747 BTC.
• Kava (KAVA) traded 2.5% lower against the dollar and now trades at $0.46 or 0.00000472 BTC.
• Akash Network (AKT) traded 6.7% lower against the dollar and now trades at $1.86 or 0.00001927 BTC.
• Theta Fuel (TFUEL) traded 7.8% lower against the dollar and now trades at $0.0452 or 0.00000047 BTC.

About Algorand

ALGO uses the hashing algorithm. Its genesis date was June 11th, 2019. Algorand’s total supply is 10,000,000,000 coins and its circulating supply is 8,424,306,668 coins. Algorand’s official website is algorand.foundation. 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.

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 acquire Algorand should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. 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