Algorand (ALGO) Price Hits $0.13 on Top Exchanges

Algorand (ALGO) traded 1.4% lower against the US dollar during the twenty-four hour period ending at 7:00 AM Eastern on August 31st. One Algorand coin can currently be bought for about $0.13 or 0.00000214 BTC on cryptocurrency exchanges. Algorand has a total market capitalization of $1.04 billion and approximately $22.77 million worth of Algorand was traded on exchanges in the last day. During the last week, Algorand has traded 13.8% lower against the US dollar.

Here’s how similar cryptocurrencies have performed during the last day:

• Avalanche (AVAX) traded 1.3% lower against the dollar and now trades at $23.08 or 0.00039004 BTC.
• NEAR Protocol (NEAR) traded down 2.5% against the dollar and now trades at $4.12 or 0.00006966 BTC.
• Internet Computer (ICP) traded down 3.2% against the dollar and now trades at $7.56 or 0.00012771 BTC.
• Cronos (CRO) traded 0.7% lower against the dollar and now trades at $0.0810 or 0.00000137 BTC.
• Hedera (HBAR) traded 1% lower against the dollar and now trades at $0.0510 or 0.00000086 BTC.
• Cosmos (ATOM) traded 0.9% lower against the dollar and now trades at $4.61 or 0.00007792 BTC.
• Fetch.ai (FET) traded 5.4% higher against the dollar and now trades at $1.18 or 0.00001995 BTC.
• Akash Network (AKT) traded down 5.1% against the dollar and now trades at $2.57 or 0.00004345 BTC.
• Theta Fuel (TFUEL) traded 1.2% higher against the dollar and now trades at $0.0576 or 0.00000097 BTC.
• Kava (KAVA) traded down 0.8% against the dollar and now trades at $0.31 or 0.00000530 BTC.

About Algorand

Algorand 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 8,227,600,149 coins. The Reddit community for Algorand is https://reddit.com/r/algorandofficial and the currency’s Github account can be viewed here. Algorand’s official website is algorand.foundation. The official message board for Algorand is forum.algorand.org. Algorand’s official Twitter account is @algofoundation and its Facebook page is accessible 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 acquire 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