CryptoCheck-

ALGO - Don't Sleep on THIS ALTCOIN ๐Ÿ’Ž

Long
CryptoCheck- Updated   
BINANCE:ALGOUSDT   Algorand / TetherUS
Hi Traders, Investors and Speculators of Charts๐Ÿ“ˆ๐Ÿ“‰

Welcome to 2024๐Ÿฅ‚๐Ÿฅณ
And with the new year, we've been focusing on altcoins that have great fundamentals AND great upside potential.

Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permission less, open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality โ€” that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds.

Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases.

As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions. Some have turned to Algorand as an Ethereum-alternative for dApp development and DeFi applications.

Algorand is still "in prison", but holding the 50d Moving Averages is the first step towards a new bullish cycle. Look at all of this upside potential:

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CryptoCheck

Comment:
SHORT TERM: it's likely we'll see a lower entry on ALGO as the support needs to be tested again before going higher:
Trade closed: target reached:
Target hit but we're not out of the woods yet
Comment:
Latest update on ALGO:

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