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Algorand price, market cap on Coin360 heatmap


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0.00001299 BTC
Market Cap (Rank#30)
92,549 BTC
Vol 24h
1,421 BTC
Circulating Supply
Max Supply
1 day agocryptodaily
ECB attempts to tarnish crypto before CBDC rollout
As the European Central Bank prepares to issue its digital currency, executive member Fabio Panetta gives a speech based on trying to dissuade the public from investing in cryptocurrencies. A keynote speech by Fabio Panetta, member of the Executive Board of the European Central Bank, concentrated solely on describing what in his view are the fundamental flaws to be found in cryptocurrencies. Panetta lays out what he perceives as the risks in three fundamental flaws. Unbacked crypto-assets offer no benefits to society The first perceived flaw is that crypto assets do not perform any useful function for society. Panetta states that they aren’t used for payments, they don’t fund consumption, they don’t help fuel production, and they don’t help to combat climate change. He complains that cryptocurrencies aren’t backed, they are volatile, and they are unstable. He says that they are “notional instruments” and have no value for investors that buy them. Panetta states that there is no compensation for investors and highlights the significant losses from various collapses. He says that there are no insurance schemes and there is little protection from cyber risks. Stablecoins are exposed to runs Panetta posits that stablecoins are stable in name only. He says that they are supposed to provide stability by having their value tied to a portfolio of assets. There then follows a section on algorithmic stablecoins, and of course the TerraUSD algorithmic stablecoin is highlighted. Crypto markets are highly leveraged and interconnected Panetta makes the point that crypto markets can have extremely high leverage, creating “strong procyclical effects” where shocks aren’t easily absorbed. He points the finger at DeFi, where he says the procyclical effects are amplified by the overcollateralization common in DeFi. He says that the flaws are magnified by inadequate governance, and insufficient transparency and disclosure. Regulation and CBDCs Panetta then goes on to basically say that crypto will only endure as long as investors are looking for a place to gamble. In order to minimise this he recommends that they are regulated and that they do not receive “preferential treatment”. He says that “regulators must walk a tightrope” and avoid allowing unsound cryptos from “socialising the risks through bailouts”. He welcomes the EU incoming MiCA regulations and states that it is crucial they enter into force rapidly. The rest of the review lays out the case for central bank digital currencies (CBDCs), which in his view will be the only “anchor of stability”. He concludes with a call for urgent global regulation in order to protect consumers, and to reduce the contagion risk of stablecoins, and signs off with the following paragraph: “regulation will not turn risky instruments into safe money. Instead, a stable digital finance ecosystem requires well-supervised intermediaries and a risk-free and dependable digital settlement asset, which only digital central bank money can provide.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2 days agocryptodaily
Analysts favor Orbeon Protocol (ORBN), Ethereum (ETH) and Algorand (ALGO) for 2023
Cryptocurrencies are experiencing unprecedented volatility as of late, with Ethereum (ETH) and Algorand (ALGO) both seeing notable price fluctuations. With so much invested in these digital assets, it&rsquo;s crucial to have a solid understanding of the current volatility, and what tokens like Orbeon Protocol (ORBN) have to offer, and what might make it a better investment option, such as ORBN&rsquo;s forecasted 6000% growth. In this article, we will discuss the status of Algorand (ALGO), Ethereum (ETH), and Orbeon Protocol (ORBN), and what their future might look like. >>BUY ORBEON TOKENS HERE>BUY ORBEON TOKENS HERE<< Orbeon Protocol (ORBN): A profitable investment for long-term and short-term A growing number of people are getting in on the rising popularity of Orbeon Protocol (ORBN). Orbeon Protocol (ORBN) is a new entrant to the world of cryptocurrencies and NFTs. With Orbeon Protocol (ORBN), even a $1 can be used to make an investment in a promising startup. As a decentralized investment platform, Orbeon Protocol allows startups to mint and issue fractionalized, equity-backed NFTs for as little as $1. Everyday investors can purchase these as a form of investment in the growing startup. This allows anyone to access the previously-gated venture capital industry. At the time of writing, ORBN can be purchased for $0.021. Investors of Orbeon Protocol (ORBN) can anticipate a return of around 6000% if the token's price reaches $0.24 by the time of launch. Those looking for high returns, both short-term and long-term, should invest in Orbeon Protocol (ORBN) to make the most out of their investments. Find Out More About The Orbeon Protocol Presale Website: Presale: Telegram: Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
2 days agocointelegraph
Japan recommends against algorithmic backing in stablecoins
The potential legal status of the Japanese Financial Service Agency’s recommendation is not clear as the current legislation is silent on algorithmic stablecoins.
4 days agozycrypto
Cardano’s Hoskinson Praises Algorithmic Stablecoins, Touts Them As The Gold Standard Of The Digital Age
Charles Hoskinson believes that algorithmic stablecoins are the way to go and that they have the ability to...
7 days agocryptopotato
Cronos-Based Algorithmic Lending Protocol Rug Pulls $600K From Users
The Cronos-based lending protocol seems to be the latest rug pull in the crypto industry.
7 days agocointelegraph
New Cardano algorithmic stablecoin evokes old fears for the community
“I thought we already figured this out, algorithmic stablecoins, not the best option,” a community member wrote on Twitter.
7 days agocryptodaily
UnUniFi Protocol raises $1.5M in Seed Round to build the first Decentralized Cross-Chain NFTFi Platform with Auto DeFi Yield
New York, New York, 1st December, 2022, ChainwireUnUniFi is very proud to announce the completion of a $1,500,000 strategic fundraise led by gumi Cryptos Capital, with participation from Coincheck, Hyperithm, MZ Web3fund, Arriba Studio and gC Incubation. &ldquo;The true utility of UnUniFi is NFTFi functionality with a proprietary valuation algorithm, combined with our interchain yield aggregator.&rdquo; -Yu Kimura, Founder UnUniFi is a Layer1 blockchain protocol for providing efficient NFT lending through an internal NFT marketplace on the Cosmos ecosystem. UnUniFi protocol started development in Q4 2021, and launched its mainnet in May 2022. This strategic fundraise marks the conclusion of our seed funding round, with the support of venture capital funds and investors from around the world. UnUniFi will use the funding from this seed round for continued development and scalability in line with the Roadmap, with an immediate focus on delivering the product releases and product-market fit (PMF). We are very grateful for such great support so early in our development, and we look forward to realizing our mission &ldquo;to give every NFT the opportunity to DeFi&rdquo;. Why is UnUniFi Special? UnUniFi will be the first NFTFi platform to create a proprietary NFT valuation algorithm calculated using real demand data, while allowing its users to generate automatic DeFi yield on borrowed assets. While other NFTFi platforms employ a peer-to-peer or liquidity-pool lending model, UnUniFi combines real demand for the NFT itself with the intrinsic demand for liquidity generation, giving NFT holders faster and more flexible access to lending. This technology is scalable for institutional users and can be implemented externally by other platforms as an NFT valuation oracle. Additionally, UnUniFi's API, client library, Bubble plugin, and frontend incentive module all combine to allow the project to become the first successful ecosystem with a truly &ldquo;decentralized frontend&rdquo;. Learn more: How does UnUniFi work? &ldquo;Many projects have tried to build a financing ecosystem around NFTs, since NFTs have become a significant asset class. However, due to the unique nature of NFTs, low liquidity causes situations where it is hard to recover financing capital. During distressed markets, this becomes a bottleneck. UnUniFi comprises of a marketplace infrastructure with built-in price discovery functionality; this allows liquidity to be secured from the beginning. We believe UnUniFi will be able to create opportunities for the huge market of NFTFi&rdquo; said Rui Zhang, Managing Partner of gumi Cryptos Capital. What Comes Next? While the completion of the seed funding round represents a huge milestone for our team, UnUniFi's immediate focus is on realizing its Q4 product releases and PMF. These objectives include: bringing to market NFTFi functionality with the ability to collateralize NFTs; the Interchain Yield Aggregator for automatic DeFi yield; enabling of Cosmos IBC (Inter-Blockchain Communication) and more. These core functionalities will help realize the foundations of a truly decentralized NFTFi platform. Through staggered updates and announcements the goal is to continue creating rapid public awareness about the status and availability of our upcoming releases. In order to expand the UnUniFi ecosystem, the team is actively seeking and negotiating with NFT projects (an NFT is not limited to art or pfp. &mdash; there are many potential applications in real estate or securities domains, etc.), dApps, and other potential partners to identify strategic partnerships. UnUniFi continues to accept inquiries from external collaborators for consideration, where applicable, and welcome other projects to contact us and join the UnUniFi ecosystem. In the meantime, we continue working on our deliverables and pushing forward in our mission to encourage the widespread adoption of NFTs as a legitimate asset class through practical and usable DeFi technologies. About UnUniFi: UnUniFi is a Layer1 blockchain protocol for providing efficient NFT lending services through an internal NFT marketplace with Auto DeFi Yield, all built on the Cosmos ecosystem. UnUniFi will be the first NFTFi platform to create a proprietary NFT valuation algorithm calculated using real demand data, while allowing its users to generate automatic DeFi yield on borrowed assets through an interchain yield aggregator. UnUniFi aims to be a dApps platform with NFT price information at its core; the internal NFT marketplace provides valuable data for the NFT price discovery function, scalable for usage by external platforms and Cosmos IBC integration. Follow Us: Website | Twitter | Discord | GithubContactChristopher [email protected]
7 days agocryptodaily
SubQuery Announces Integration with Flare Network
Dubai, UAE, 1st December, 2022, ChainwireSubQuery is excited to announce it has extended its data indexing support to Flare Network, the blockchain that aims to connect everything. The partnership was made possible after SubQuery received a grant from the Flare Ecosystem Support Programme. Flare is a blockchain which presents developers with a simple and coherent stack for decentralized interoperability, allowing dApps to serve multiple chains through a single deployment. This cross-chain approach is consistent with SubQuery&rsquo;s continuous effort to become the universal blockchain indexing tool for web3 developers. Flare supports EVM-based smart contracts, and has data and interoperability infrastructure built natively into the blockchain, providing dApps with highly decentralized price feeds and secure state acquisition from other blockchains. Flare is also building the capability to create decentralized, multilateral and insured bridges between different blockchain networks to achieve trustless interoperability. Hugo Philion, Flare Co-founder & CEO, said, &ldquo;We admire SubQuery's decentralized data indexing solutions and are excited for them to launch on Flare mainnet. This will complete another important piece of Flare's developer engagement strategy." SubQuery provides decentralised data indexing infrastructure to developers building applications on multiple layer-1 blockchains including the Cosmos ecosystem, Polkadot, Algorand and Avalanche. As an open data indexer that is flexible and fast, it helps developers build APIs in hours and quickly index chains with the assistance of dictionaries (pre-computed indices). Engineered for multi-chain applications, SubQuery allows developers to organize, store, and query on-chain data for their protocols and applications. SubQuery eliminates the need for custom data processing servers, helping developers focus on product development and user experience. &ldquo;We&rsquo;re proud to be supporting teams building on Flare Network with our fast, flexible and universal indexing solution. We are excited to deliver another integration that enables Flare developers to index their data faster and easier, and build complex dApps with the help of SubQuery.&rdquo; &mdash; Marta Adamczyk, Technology Evangelist at SubQuery Flare Network developers will benefit from the full SubQuery experience, including the open-source SDK, tools, documentation, developer support, and other benefits developers receive from the SubQuery ecosystem. Additionally, Flare Network is accommodated by SubQuery&rsquo;s managed service, which provides enterprise-level infrastructure hosting and handles over 400 million requests each day. SubQuery is now focused on launching the Kepler canary network before decentralising and tokenizing the protocol to build the SubQuery Network. If you would like to join SubQuery as a Flare launch partner, please reach out to [email protected] Getting Started The best way is to start with our starter project which contains a running project with an example of all mapping functions. You'll need to install a recent version of @subql/cli via npm i -g @subql/[email protected] If you don't want to see a kitchen sink example, you can follow a step by step guide on how to create a real world example. Follow our quick start tutorial to see how to index all Flare FTSO Rewards on the Songbird network in less than 15 minutes. With SubQuery's Flare integration, we can index the following: BlockHandler: All blocks and their hash and height TransactionHandler: All transactions and their hash, height, and timestamp LogHander: Logs and other on chain messages as a result of transactions made SubQuery's Flare implementation has been designed to operate almost identically to SubQuery's Avalanche, Polkadot, Cosmos, and Algorand support, and in a similar way to the Graph's approach. We've updated the SubQuery Documentation to add Flare specific information. You can begin by following this excellent getting started guide here. Key Resources Developer documentation (SubQuery Academy) Starter project (Github) Example project that indexes FTSO rewards Discord community (including technical support) About Flare Network Flare is a blockchain built to connect everything. It presents developers with a simple and coherent stack for decentralized interoperability, allowing developers to serve multiple communities and ecosystems simultaneously through a single deployment. Flare&rsquo;s protocols now provide: Scalable EVM-based smart contracts. Highly decentralized price feeds. Secure state acquisition from other blockchains. Flare and ecosystem partners are also building: Insured smart contract token bridging. Non-smart contract token bridging. Secured data relay. Horizontal scaling through a fully interoperable multi-chain ecosystem. Website | Twitter | Discord About SubQuery SubQuery is a blockchain developer toolkit facilitating the construction of Web3 applications of the future. A SubQuery project is a complete API to organise and query data from Layer-1 chains. Currently servicing Polkadot, Avalanche, Algorand, and Cosmos projects, this data-as-a-service allows developers to focus on their core use case and front-end without wasting time building a custom backend for data processing activities. In the future, the SubQuery Network intends to replicate this scalable and reliable solution in a completely decentralised manner. ​​Linktree | Website | Discord | Telegram | Twitter | Matrix | LinkedIn | YouTube ContactDan [email protected]
8 days agocointelegraph
Crypto trading firm Auros Global misses DeFi payment due to FTX contagion
Auros is an algorithmic trading and market-making firm that provides liquidity for exchanges and token projects.
10 days agocryptosrus
Analyzing why Algorand [ALGO] could be off to a flying start in 2023 
ALGO recently dropped by almost 50% from its current monthly high Algorand’s metrics are demonstrating mixed results despite the support retest. Algorand concluded November with the launch of Decipher 22, its second annual meeting. This meeting could mark the start of another ALGO rally, considering the cryptocurrency’s current position. While events such as Decipher […] The post Analyzing why Algorand [ALGO] could be off to a flying start in 2023  appeared first on CryptosRus.
13 days agonulltx
Smart investors see potential in Oryen Network after a wild 200% price increase. How about Monero and Algorand?
Smart investors can see the great potential in this new and exciting DeFi network known as Oryen. What’s all the hype about? And how does Oryen (ORY) compare to Monero (XLM)  and Algorand (ALGO)? Oryen Network (ORY) Oryen is a DeFi staking platform that is community-run and censorship-proof. The platform’s creators have developed a simple […] The post Smart investors see potential in Oryen Network after a wild 200% price increase. How about Monero and Algorand? appeared first on NullTX.
14 days agocryptodaily
Crypto Lender Hodlnaut Under Investigation For Possible Fraud
Singapore-based crypto lender Hodlnaut is reportedly facing an investigation by the Singapore police related to alleged fraud and cheating. The police had received several reports that the crypto lender had downplayed its exposure to a &ldquo;specific token.&rdquo; Investigation Based On Multiple Complaints According to several reports circulating in local media, Singapore&rsquo;s white-collar crime unit, the Commercial Affairs Department (CAD), has launched a probe into crypto-lender Hodlnaut and its founders. The investigation was launched on the basis of multiple complaints received by the police against the platform between August and November 2022. The police stated that a majority of the complaints centered around false representations and misinformation about the company&rsquo;s exposure to a &ldquo;certain digital token.&rdquo; Additionally, the police advised investors impacted by the crisis unfolding at Hodlnaut to file an online complaint and submit any verifiable documents related to their transaction history on the platform. The Unknown Token The &ldquo;unnamed&rdquo; token in question most likely refers to Terra&rsquo;s collapsed USTC token, formerly UST. UST was an algorithmic stablecoin pegged to the US dollar, which rapidly lost its peg in May. So far, there has not been a confirmation from the authorities if this indeed is the token in question. The Terra ecosystem faced an unprecedented collapse, leading to several crypto lenders going bankrupt. These included Celsius, Voyager, and Vauld. The crisis was also the reason behind Hodlnaut&rsquo;s current liquidity issues. The Hodlnaut Crisis Hodlnaut was badly impacted due to the Terra collapse. The first signs of trouble emerged on the 8th of August when the lender suspended all withdrawals on the platform, citing liquidity issues. The platform stated that it was suspending withdrawals to work with its legal advisors and develop the best possible restructuring and recovery plan for its users. The crypto-lender filed for interim judicial management on the 13th of August so that it could gain protection from any legal claims. At the time, the crypto lender claimed it had no exposure to the algorithmic Terra stablecoin. However, on-chain data showed otherwise, suggesting that Hodlnaut held at least $150 million in USTC. A judicial report later confirmed this, which noted that the crypto lender lost nearly $190 million due to the Terra collapse. Hiding Its Exposure The report also stated that Hodlnaut deleted thousands of documents related to their investments in order to hide their exposure to Terra. This was successful to some extent, as the lender was able to keep its USTC exposure under wraps for three months after the Terra ecosystem collapse. However, the eventual liquidity crisis forced the company to seek judicial management, which the Singapore High Courts granted. Report Reveals Details The high court appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee from EY Corporate Advisors Pte. as the company&rsquo;s interim judicial managers. The report published by the judicial managers at the end of October revealed the extent of Hodlnaut&rsquo;s exposure, stating that it lost $189.7 million as a result of the Terra crash and adding that the company downplayed its exposure to Terra. A new report added even further fuel to the fire, stating that nearly 72% of the assets held by the lender on centralized exchanges were deposited in the now-bankrupt FTX exchange. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
15 days agocointelegraph
Crypto lender Hodlnaut reportedly faces police investigation in Singapore
Hodlnaut reportedly lied about its exposure to the now-defunct Terra algorithmic stablecoin and lost nearly $190 million.
16 days agocryptodaily
Orbeon Protocol (ORBN) rapidly sells out its first stage of the presale, Monero (XMR) and BinaryX (BNX) prices bounce back from lows
Orbeon Protocol (ORBN) is selling out its presale as the price has already more than doubled, with multiple analysts expecting total returns of more than 60x. ORBN is here to make investing in startups accessible to everyone. Monero (XMR) and BinaryX (BNX) have bounced back from recent lows but still struggle to find a footing. >>BUY ORBEON TOKENS HERE<< Orbeon Protocol (ORBN) Orbeon Protocol provides a platform for emerging enterprises seeking funding to bypass established channels such as venture capital firms and crowdfunding platforms and instead appeal directly to the crypto community. Startups are minted as fractionalized NFTs, representing equity in the company, and can be purchased for as low as $1. This is a first for the everyday investor. Never before have small-scale investors had access to exciting, fresh investment opportunities generally reserved for those only able to invest millions. The blockchain technology of Orbeon Protocol also makes investment safer and more transparent for investors. For example, its smart contract "fill or kill" automatically refunds investors if firms fail to meet their investment target. ORBN, the native token of the Orbeon Protocol, is now accessible during the presale phase, which began at the end of October and will run through three phases through the end of January 2023. Analysts believe the cryptocurrency can grow 60x in a couple of months, from $0.004 to $0.24. Orbeon Protocol is leading the way in a crypto industry still battling back. The ORBN token is still in the presale phase and is now trading at $0,014. Monero (XMR) Monero (XMR) is a one-of-a-kind cryptocurrency because it provides security. Monero (XMR) obscures its user's personal information and transaction details. This is accomplished through advanced algorithms, providing users with complete anonymity when doing transactions. Monero (XMR) is a privacy-focused cryptocurrency with regular Decentralized Finance (DeFi) functionalities and is one of the industry's quickest cryptocurrencies. The Monero blockchain uses the Proof-of-Work (PoW) consensus mechanism. This helps XMR achieve low transaction fees and sustain up to 1,700 transactions per second. Monero is one of the largest cryptocurrencies on the crypto market. Thanks to its mix of anonymity and quick transaction rates, it has a significant and dedicated user base with minimal costs. Clients can use Monero (XMR) to conduct untraceable transactions in the dark. The components that enable these private and secure transactions include a ring signature, transaction mixing, secret ring transactions, and stealth addresses. XMR has 18,2 million tokens. BinaryX (BNX) BinaryX (BNX) is a game that allows you to earn prizes while gaming by utilizing cryptocurrency and blockchain technologies. Playing this game, you can use the marketplace to trade with other players and auction off your in-game goods for cryptocurrencies. BinaryX (BNX) also focuses solely on the fantasy gaming genre and does not offer a wide range of game genres. This may limit its attractiveness to some players. BinaryX (BNX) is merely a notion for a fascinating game, not a blockbuster game, as most people expect. BinaryX (BNX) is losing ground in the market. It lacks the level of recognition or network effect some of the other ventures in this sector have. Furthermore, its emphasis on gaming may not be appealing to many. In order to increase its market share BinaryX (BNX) must build brand awareness and offer more games. They compete with well-known blockchain games and centralized games from gaming behemoths such as Playstation, Xbox, and Nintendo. Find Out More About The Orbeon Protocol Presale Website: Presale: Telegram: Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
17 days agocryptodaily
Djed Stablecoin Launching on Cardano After Summit Announcement
COTI CEO Shahaf Bar-Geffen has appeared on stage at the annual Cardano Summit in Lausanne, where he confirmed that the company&rsquo;s algorithmic stablecoin will launch in January after the conclusion of a full audit. &ldquo;Djed going to public mainnet is a great achievement, following a lot of hard work from IOG (Input Output Global) and COTI,&rdquo; said Bar-Geffen. &ldquo;Recent market events have proven once again that we need a safe haven from volatility, and Djed will fulfil this role in the Cardano network. &ldquo;We need a stablecoin that is decentralized and has on-chain proof of reserves: Djed is just that and I see it becoming the top stablecoin on the Cardano network.&rdquo; Slow and Steady Approach COTI&rsquo;s announcement of a launch date was teased several days ago, and the hype has been steadily building for Djed, an over-collateralized algorithmic stablecoin which will be integrated out of the gate with various COTI partners, not least DEXs, launchpads, wallets and lending protocols. According to Bar-Geffen, further partnerships will also be announced throughout 2023. The decentralized exchanges integrated with Djed from January, which include AdaSwap, Cardax, SundaeSwap and ADAX, will offer increased rewards to users who supply liquidity using the COTI-powered stablecoin. Djed will include Vasil hard fork compatibility, with future versions expected to introduce dynamic fees and prices and also support staking. An enterprise-grade layer-1, COTI has taken a slow-and-steady approach to the issuance of Djed, which was first announced at the 2021 Cardano Summit in Wyoming. On the main stage at this year&rsquo;s event, Bar-Geffen stressed that COTI was keen to ensure several rigorous stress tests had been completed before Djed debuted on the Cardano mainnet, and that $ADA liquidity had gradually been provided to the Djed smart contract in line with this approach. While other blockchain networks have dominant dollar-pegged stablecoins, most notably USDT (Tether) and USDC (USD Coin) on Ethereum, Cardano has not benefited from such an ecosystem to date. As the only blockchain network to have conducted KYC/AML on all users since launching in 2017, COTI believes it is well placed to issue a stablecoin that is dependable, regulation-ready, and highly secure. Built on Cardano and powered by COTI, Djed is essentially an algorithmic stablecoin protocol that functions like an autonomous bank, buying and selling stable assets based on a price range set by a target price. Pegged 1:1 with the US dollar, Djed is backed by a base coin ($ADA) and uses $SHEN as a reserve coin. The algorithmic underpinnings of the asset relies on a collateral ratio within the range of 400-800% for $DJED and $SHEN in order to guarantee that there is sufficient $ADA in the pool. Cardano founder Charles Hoskinson has long touted Cardano&rsquo;s potential as a DeFi powerhouse. Last year, he even introduced the Cardano DeFi Alliance (CDA) with the goal of creating a robust and dynamic ecosystem for the next wave of DeFi innovation. With the forthcoming launch of Djed, not to mention another US-pegged stablecoin, USDA, that vision is gradually coming into clearer focus. In light of recent market turbulence, 2023 is shaping up to be an interesting year for crypto in general &ndash; and certainly for Cardano. Not only will the latter&rsquo;s DeFi ecosystem be battle-tested for the first time, but Hoskinson recently announced the release of a new privacy-centric network, Midnight, underpinned by zero-knowledge-proof technology. Whatever happens with Midnight, January&rsquo;s launch of Djed will be a watershed moment for Cardano &ndash; and in particular its DeFi ambitions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
17 days agocointelegraph
Cardano to launch new algorithmic stablecoin in 2023
'Djed' is set to go live in Jan. 2023, after a successful audit and a series of rigorous stress tests
17 days agocryptopotato
Cardano’s Algorithmic Stablecoin DJED to Launch in January 2023
The stablecoin will be backed and overcollateralized using solely cryptocurrency, including ADA and SHEN – the smart contract’s reserve token.
18 days agocryptodaily
Crypto Weekly Roundup: Silvergate Stumbles, CZ’s Fund, And More
The market is still fumbling in the aftermath of the FTX debacle. However, CZ&rsquo;s recovery fund announcement boosted morale on the pricing charts. Let&rsquo;s find out more. Bitcoin According to recent data, an estimated 190,000 BTC have been withdrawn from exchanges in the week following the news of FTX&rsquo;s liquidity crisis. Ethereum Regulators are scrutinizing the crypto space with even more of a keen eye after the FTX bankruptcy, and experts are claiming that Ethereum&rsquo;s switch to proof-of-stake had &ldquo;put a huge target&rdquo; on Ethereum&rsquo;s back. DeFi Liquidity hub Serum had to be forked as it was compromised when a hack targeted the crypto exchange FTX. Altcoins Binance CEO Changpeng Zhao said in an AMA that most people should not invest in the crypto market now but should continue to hold. Technology Changpeng Zhao has revealed that his crypto exchange Binance will act as the &lsquo;guinea pig&rsquo; for Vitalik Buterin&rsquo;s Proof-of-Reserves protocol. Business In a sign that the FTX collapse continues to spook investors, shares of crypto bank Silvergate Capital fell significantly on Friday. Liquidator presiding over the FTX Chapter 11 bankruptcy claims that it was worse than the Enron liquidation process. The Securities Commission of The Bahamas announced that it directed that all digital assets of FTX Digital Markets Ltd (FDM) be transferred to a digital wallet controlled by the Commission for safekeeping. Crypto lender Genesis was seeking a $1 billion emergency loan just before suspending customer withdrawals on Wednesday. Matter Labs has raised $200 million in its latest Series C funding round to develop the platform&rsquo;s zkSync V2 rollup network. With the pull-out of FTX from the purchase of Voyager following its own bankruptcy, Binance has gained a pole position in the new sale of the crypto lending platform. A third-party audit has revealed that the Luna Foundation Guard spent $2.8 billion to defend the peg of the algorithmic stablecoin TerraUSD (UST). Lawsuits hit a string of high-profile celebrities, like Tom Brady, Stephen Curry, Gisele Bundchen, Larry David, and Naomi Osaka, for endorsing and promoting the now-bankrupt FTX cryptocurrency exchange. Crypto lender BlockFi is preparing for a potential bankruptcy filing in the wake of the collapse of the FTX crypto exchange last week. FTX-owned crypto exchange Liquid Global has announced that it is suspending all crypto and fiat withdrawals as the FTX collapse continues to affect the markets. Ikigai founder Travis Kling disclosed the company&rsquo;s exposure to FTX on Twitter and stated that it could not retrieve most of its funds. As per crypto compliance firm Argus, Alameda Research amassed hordes of tokens that were supposed to be listed on FTX. Crypto prices shot up on November 14 after CZ declared on the news that he wants to put together an &ldquo;Industry Recovery Fund&rdquo; to support promising projects undergoing a liquidity crisis. Regulation Amid its ongoing battle with the SEC, Ripple has announced that it is seeking to expand its presence in the European Union (EU). Coinbase CFO, Alicia Haas, says that fraud issues are with some centralized exchanges and not with crypto. NFT Football superstar Cristiano Ronaldo has launched his first-ever NFT collection in partnership with crypto exchange Binance. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
20 days agocryptopotato
Weekend Watch: ApeCoin Up 7%, Algorand Soars 10%
Algorand is today's top performer from the top 100 coins, with a 10% daily increase.
20 days agocryptodaily
ThunderCore Kicks Off FIFA World Cup 2022 Fever With Themed DApps
Entertainment-focused Web3 ecosystem and layer-1 blockchain ThunderCore is launching a dedicated FIFA World Cup 2022 section to help users of its ultra-popular DApps get a crypto kick out of the global sports spectacle and may even choose their favorite teams. There will also be on-chain events held related to World Cup 2022, participate NOW!! ThunderCore is among the most used blockchains in the world, consistently holding a spot in the top 5 for daily active users on DappRadar. The chain boasts sub-second confirmation times and transaction costs at a fraction of a cent, which makes it a great match for gaming. It also has users in over 100 countries, many of whom are World Cup fans. The rapidly expanding blockchain has a history of supporting real-world sports and is looking to broaden its reach in the wider world of sports. Both ThunderCore and FIFA see the World Cup 2022 as a golden opportunity to introduce more people to Web3. ThunderCore for users ThunderCore focuses on onboarding users to Web3 through entertainment, and as importantly, retaining them. The blockchain is always looking for the next project that will give its community a new way to have fun and inspire them to come back for more. The ThunderCore ecosystem contains a diverse array of DApps to help users earn funds while they have fun. In addition to decentralized finance (DeFi) protocols and decentralized exchanges (DEXs), there are many non-fungible token (NFT) platforms and GameFi games on offer. With the FIFA World Cup, ThunderCore has been able to attract a large pool of developers to build related DApps. The blockchain developer community knows that if they create their projects on ThunderCore, they will reach a vast audience. And that means users have tons of variety when it comes to blockchain entertainment during the World Cup. During the 2022 World Cup period, ThunderCore has created a section in TT Wallet, exclusively for the World Cup-related DApps that can promote their features combining both sports and Web3. Users will be experiencing entertainment and excitement in conjunction with sports and the new technology. Here are a few DApps that will be participating in this event with us first TTCasino: Top 1 Web 3.0 casino on ThunderCore. 3000+ Games: Sports, slots, live casino, poker. Sofa Sports: Stand with your favorite team & predict the next goalscorer. Play in sofaSport as you are involved in the real competition. Fantastic football by E-verse: E-verse is a web3 ecosystem whose mission is to link Global blockchain projects with all potential blockchain entrepreneurs. ThunderCore for developers ThunderCore can claim to consistently have over 400,000 monthly active users, in addition to over 100,000 daily. It has maintained high user growth even during the bear market, and the team is committed to cross-promotions for its DApps. Every project in the ThunderCore community gets to benefit from the increased popularity of the underlying chain. Using its AI-powered recommendation algorithm, ThunderCore is always steering people towards exciting new DApps. Unlike most chains, where users tend to leave after they lose interest in a particular DApp, ThunderCore has an impressive ability to retain users. It relies on organic growth techniques to ensure a steady stream of newcomers. The chain also aids its developers with a $10M Developer Growth Fund, which carries new projects to completion with financial, technical, and operational assistance. For developers looking to build on ThunderCore, learn how to apply here. 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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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About Algorand

The live price of Algorand (ALGO) today is 0.222827 USD, and with the current circulating supply of Algorand at 7,126,147,747.19 ALGO, its market capitalization stands at 1,587,895,728 USD. In the last 24 hours ALGO price has moved 0.003483 USD or 0.02% while 27,970,396 USD worth of ALGO has been traded on various exchanges. The current valuation of ALGO puts it at #30 in cryptocurrency rankings based on market capitalization.

Learn more about the Algorand blockchain network and how it works or follow the price of its native cryptocurrency ALGO and the broader market with our unique COIN360 cryptocurrency heatmap.

Launched in June 2019 by the Turing Award winner and MIT Professor Silvio Micali, Algorand (ALGO) is an open-source, decentralized and "self-sustaining" blockchain, which intends to solve the blockchain trilemma - that any such network can at most have two out of three important properties, namely: security, scalability and decentralization.

The main purpose of creating Algorand is to improve the efficiency and transaction speed of other blockchains like Bitcoin and Ethereum, while reducing the transaction costs. In order to accomplish this, Algorand uses a special, more scalable, ‘Proof of Stake’ consensus mechanism referred to as ‘Pure Proof of Stake’ (PPoS), which secures its network.  

While the core development of Algorand protocol is managed by the Boston-based private corporation Algorand Inc., the umbrella organization Algorand Foundation oversees the decentralization, ecosystem growth, on-chain governance, cryptographic research and award funding of the Algorand network.

ALGO price

Algorand was funded through an Initial Coin Offering (ICO) in June 2019, at a price of $2.4 per coin. Its value appreciated quickly by almost 50% within a few days of launch, with the coin reaching its all-time high of $3.56 on June 20, 2019. ALGO’s fully diluted valuation crossed $35 billion that day. Its value dropped gradually thereafter, dipping to $0.16 by late September, and closing the year at around $0.2, according to our ALGO live price chart.

The price of ALGO, in USD terms, rallied again in February 2020, touching $0.50 before correcting down below $0.1 in the March 2020 crypto crash. Its next big jump came in August 2020, as it peaked around $0.75 before another correction saw it ending the year below $0.35.

2021 was a good year for crypto markets in general, and ALGO also continued to attempt a breach of $2, before finally succeeding in September 2021, and even went on to test $3 in November. However, the year ended around $1.8 for ALGO.

2022 saw a sharper decline in ALGO's price, where the cryptocurrency was trading around $0.35 in May 2022.

How ALGO works

Algorand employs something known as Pure Proof-of-Stake (PPoS) consensus mechanism to secure its network and validate transactions. PPoS was developed by Silvio Micali and is meant to provide scalability, decentralization and security, in a sustainable and eco-friendly manner.

Anyone can participate as a validator, depending upon the amount of ALGO coins they hold in their wallet, as compared to ALGO holdings of other interested participants. The ‘Pure’ in PPoS implies that the participants can freely come and go, without the need of locking up their ALGO coins for a specific time period.

ALGO, the native coin of the Algorand blockchain, is used to pay for transactions done on the Algorand network. You can also use ALGO for staking purposes and to participate in the functioning and governance of the Algorand network. At the time of writing, ALGO holders have staked over $3.9 billion ALGO for simultaneous participation in Decentralized Finance (DeFi) and Algorand governance, by the ALGO holders. 

Algorand has an average transaction throughput of 11 TPS, while 1,100 transactions can be processed per second at peak. The block creation time is well under 5 seconds and the average transaction fee for using the network’s resources is 0.002 ALGO. Algorand blockchain is actively used to deploy and run DeFi apps as well as mint non-fungible tokens (NFTs).

ALGO news, updates and highlights

In an important ALGO news, Six Clovers, a Fintech infrastructure provider led by former Ripple and PayPal executives, launched a cross-border payments network on Algorand, in June 2021. It uses fully regulated stablecoins to facilitate global transactions between merchants, payment providers and banking establishments. The same month Arrington Capital also launched a $100 million ecosystem fund, to promote project development and coin minting on the Algorand blockchain. Both these developments contributed positively to ALGO price action in 2021.

In another major news for ALGO, the Algorand Foundation put up a $20 million fund in February 2022 to accelerate development on its ecosystem. From the fund, $10 million were awarded as a grant to Applied Blockchain, for building a trustless bridge called ‘London Bridge’. This initiative holds great significance for the Algorand network as it will connect the blockchain with Ethereum’s robust dApp ecosystem, thus bringing in more liquidity.

Frequently asked questions about ALGO

  • Is it possible to mine or stake ALGO?

While you cannot mine ALGO coins, it’s certainly possible to stake ALGO to earn staking rewards.

  • What are some of the best ALGO wallets?

Algorand recommends the mobile Pera wallet to store your ALGO coins. However, you can also opt for other popular choices like Ledger Nano X, Atomic Wallet and Trust Wallet.

  • What can you do with ALGO cryptocurrency?

You can use your ALGO coins to pay fees for using apps running on the Algorand network. It’s also possible to stake ALGO to participate in Algorand’s operations and governance. In addition, the coin can be used to trade against other crypto assets on well-known exchanges, as well. 

  • How to buy ALGO coins?

The ideal way to buy ALGO is on established crypto exchanges. You may use fiat currency to buy ALGO or exchange your already-owned crypto coins for ALGO. Use trading pairs like ALGO/XRP, ALGO/USDT, ALGO/BTC, ALGO/MATIC, ALGO/ETH and so on, to make the purchase.

Algorand Price0.222827 USD
Market Rank#30
Market Cap1,587,895,728 USD
24h Volume24,388,040 USD
Circulating Supply7,126,147,747.19 ALGO
Max Supply10,000,000,000 ALGO
Yesterday's Market Cap1,599,463,700 USD
Yesterday's Open / Close0.220967 USD / 0.22445 USD
Yesterday's High / Low0.225788 USD / 0.218993 USD
Yesterday's Change
0.02% ( 0.003483 USD )
Yesterday's Volume27,970,396 USD
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