My TOP10 project list - pick number 3/10
Algorand is a solid project. ISO20022 compliant and has strong ties to the global elite.
Its price got completely obliterated when Gary Gensler (SEC) who formerly had exprssed very positive views on the project, attacked it by declaring it a Security in April 2023.
However this is just a shitshow (as the lawsuit against Ripple which the SEC has lost) to discourage retail investors. Elites do not want every day people aboard. They have the moral obligation to protect the consumer from making to much money.
The price is still very close to its all time low ATL at 0.0879 $ (acutally 0.1142 at the time writing). Still down 96% from its ATH !
It has recently broken out from an almost 2 years long descending bullish wedge and is heading higher.
What makes Algorand unique: founded in 2017 by Silvio Micali, a renowned cryptographer, and recipient of the Turing Award and MIT researchers, it is a platform for scalability, security, and decentralization that aims to revolutionize decentralized applications (dApps) and smart contracts. It has very high throughput capabilities and very low transaction cost (0.0001$ per transaction). It has smart contract capabilities. In addition to its technical strengths, Algorand stands out for its commitment to sustainability. The network's low energy requirements contribute to its carbon negativity, and the Algorand Foundation actively engages in carbon offsetting initiatives.
Algorand is here to stay and thos who have the will to buy it around these lows (not financial advice but I bought under 10 cents) will be handsomely rewarded for their courage.
Its price got completely obliterated when Gary Gensler (SEC) who formerly had exprssed very positive views on the project, attacked it by declaring it a Security in April 2023.
However this is just a shitshow (as the lawsuit against Ripple which the SEC has lost) to discourage retail investors. Elites do not want every day people aboard. They have the moral obligation to protect the consumer from making to much money.
The price is still very close to its all time low ATL at 0.0879 $ (acutally 0.1142 at the time writing). Still down 96% from its ATH !
It has recently broken out from an almost 2 years long descending bullish wedge and is heading higher.
What makes Algorand unique: founded in 2017 by Silvio Micali, a renowned cryptographer, and recipient of the Turing Award and MIT researchers, it is a platform for scalability, security, and decentralization that aims to revolutionize decentralized applications (dApps) and smart contracts. It has very high throughput capabilities and very low transaction cost (0.0001$ per transaction). It has smart contract capabilities. In addition to its technical strengths, Algorand stands out for its commitment to sustainability. The network's low energy requirements contribute to its carbon negativity, and the Algorand Foundation actively engages in carbon offsetting initiatives.
Algorand is here to stay and thos who have the will to buy it around these lows (not financial advice but I bought under 10 cents) will be handsomely rewarded for their courage.
Comment:
Still looking good. Up 200% from entry point.
Comment:
ALGO had quite a run today. As you can see from the chart there is an important resistance level at 0.295$ that we will probably need some time to work through. ALGO is definitely a HOLD.