Algorand Reaches One Day Volume of $16.11 Million (ALGO)

Algorand (ALGO) traded 0.8% higher against the US dollar during the 1-day period ending at 20:00 PM Eastern on October 6th. One Algorand coin can currently be purchased for about $0.13 or 0.00000202 BTC on popular exchanges. Over the last seven days, Algorand has traded down 10.2% against the US dollar. Algorand has a market cap of $1.05 billion and approximately $16.11 million worth of Algorand was traded on exchanges in the last day.

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

• Avalanche (AVAX) traded up 4.8% against the dollar and now trades at $26.93 or 0.00042866 BTC.
• NEAR Protocol (NEAR) traded up 3.6% against the dollar and now trades at $4.95 or 0.00007883 BTC.
• Internet Computer (ICP) traded 3.7% higher against the dollar and now trades at $8.51 or 0.00013544 BTC.
• Cronos (CRO) traded up 0.6% against the dollar and now trades at $0.0806 or 0.00000128 BTC.
• Hedera (HBAR) traded 1.9% higher against the dollar and now trades at $0.0541 or 0.00000086 BTC.
• Cosmos (ATOM) traded 0.3% higher against the dollar and now trades at $4.64 or 0.00007392 BTC.
• Fetch.ai (FET) traded 4.6% higher against the dollar and now trades at $1.47 or 0.00002340 BTC.
• Akash Network (AKT) traded down 0.4% against the dollar and now trades at $2.52 or 0.00004014 BTC.
• Theta Fuel (TFUEL) traded up 0.7% against the dollar and now trades at $0.0633 or 0.00000101 BTC.
• Kava (KAVA) traded up 3.9% against the dollar and now trades at $0.34 or 0.00000547 BTC.

Algorand Coin Profile

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 8,282,750,688 coins. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible here. Algorand’s official website is algorand.foundation. The official message board for Algorand is forum.algorand.org. 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 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 GDAX, Gemini or Changelly. 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