After two years of cryptocurrency bear market, altcoin assets are finally surging in value once again, but the best performers thus far are shiny new projects with much promise and hype such as Algorand.
Among the top-most performers, are Tezos, and Chainlink, but could this newcomer be ready to join these shining stars of the cryptocurrency market limelight after a staggering 130 year-to-date% surge?
Altcoins All-Stars Gain Over 100% Year-to-Date in 2020
Because the emerging asset class is still so new, young, and lacking utility and use cases currently, the cryptocurrency market is driven primarily by speculation and hype.
The coins that perform the best, aren’t always the ones with the strongest fundamental value backing them, but the ones that are hyped the most by the cryptocurrency community and influential figures.
Related Reading | Poll Shows Crypto Investors Expect ChainLink To Be Top Performing Altcoin in 2020
During last year, upon visiting any cryptocurrency subreddit, forum, or when browsing Twitter, you’d be hard-pressed to avoid mentions of the altcoin known as Chainlink.
From the cryptocurrency’s late 2018 low of 18 cents, it rose over 2,500% to a 2019 high of $4.85. Gains like that are certainly worth the clamor that spread across the industry as a result.
Chainlink is up over 200% in 2020 year-to-date already, matching the gains of other cryptocurrency industry standout, Tezos.
Tezos is also up over 200% year-to-date also and is among the most hyped altcoin in the market right now.
The two altcoins are fighting ferociously for the number ten spot by total market cap in the list of top crypto assets. Tezos currently enjoys that title, but Chainlink is right behind it.
You’re probably not buying $algo because everyone on Twitter is talking about.
I bet you did the same thing with $link & $xtz.
You’re messing up again.
— J. (@jregardless) February 20, 2020
Is Algorand the Next Cryptocurrency Market Shining Star?
But just as talk about Tezos and Chainlink couldn’t be avoided before their breakthrough performances, another altcoin is suddenly being hyped to similar extremes.
Algorand is a relatively young altcoin, available for trading on Coinbase, Binance, and a few other platforms, alongside the likes of Bitcoin, Ethereun, Tezos, and Chainlink.
Related Reading | Could Crypto Exchange Coinbase Be Pumping Tezos To The Moon?
Staking is among the reasons for Tezos over-performance against the rest of the industry, offering a 5% APR through Coinbase. But Algorand is offering staking rewards at between 16% and 20%, as much as four times that of Tezos.
16-20% is no joke. $ALGO https://t.co/CYtpsfh7es pic.twitter.com/Jxq0oRQ1HD
— Charles J Read (@chatwithcharles) February 21, 2020
The rewards have caused plenty of buzz around the cryptocurrency, which has resulted in a 130% surge year-to-date thus far.
While this number is trailing behind Tezos and Chainlink, which have more longevity and awareness in the market, Algorand is going toe-to-toe with Ethereum’s gains, which are on par with one another.
Not too shabby for an altcoin project that is relatively new.
The main reason why crypto investors are so bullish on Algorand is due to the asset’s small market cap.
Whereas Ethereum is valued at $29 billion, Tezos at $2.5 billion, and Chainlink at $1.5 billion, Algorand’s market cap is a mere $250 million, suggesting there is tremendous upside if the cryptocurrency continues to take off. origin »
Tether has launched a version of its dollar-pegged stablecoin (USDT) on Algorand, representing the first significant use of Aglorand’s Standard Asset (ASA) specification. The news was revealed in an announcement...The post Tether’s USDT Goes Live on Algorand appeared first on Cryptocurrency News.
Binance. US, the United States arm of Binance cryptocurrency exchange, has announced that it will roll out Algorand (ALGO) and Cosmos (ATOM) staking services from February 2020. The firm says crypto traders on its platform will be able to access the staking service right from the Binance.
Algorand and Cosmos are coming to Binance. US as it expands into on-exchange staking. Users can now earn interest on their account balances. Staking Rewards for U. S. Traders In a recent blog post, the largest cryptocurrency exchange by trading volume, Binance, announced that its division in the U.
Staking seems to be doing rounds in the cryptocurrency industry and the CZ led platform rolled out Binance Staking back in September. The platform started off staking services for just Algorand's ALGOThe post Binance reveals estimated annual yields for staking assets appeared first on AMBCrypto.
Algorand Foundation, the organization in charge of the Algorand (ALGO) distributed ledger technology (DLT) project has been certified Sharia-compliant by the Shariya Review Bureau (SRB). With the Shariah certification, Islamic institutions will now be able to adopt Algorand (ALGO), reports Zawya on October 21, 2019.
The cryptocurrency markets are seeing a small retracement today. Bitcoin continues its low-volatility trading around the $8,400-8,500 level, while altcoins are still pulling back from their previous gains.
Algorand (ALGO) is a relatively new cryptocurrency, having been launched on June 19, 2019. The date marked the inaugural Algo auction, which sold out in less than four hours. The platform exceeds 1000 transactions per second and has a latency of fewer than five seconds.
Turing Award Recipient, MIT Professor, and Founder of Algorand, Silvio Micali to Attend Asia’s Largest Blockchain Weekly Event, ‘Korea Blockchain Week 2019’ There are many ways to describe Silvio Micali: Professor of MIT, recipient of the Turing Award, or leader of cryptography.
As per an all new blog-post released on the official Coinbase website, the premier cryptocurrency exchange is going to be adding Algorand protocol’s eponymous token — ALGO — to its Coinbase Pro platform on the 14th of August.
CryptoNinjas - Bitcoin, Cryptocurrency & Blockchain Asset SourceThe Algorand Foundation announced today a staking rewards program that will reward its community with 200 million Algos, bring additional opportunities and reward those who share its vision for the long-term success of the Algorand network and its technology.
As per an announcement on their blog, Coinbase is exploring the possibility of listing new digital assets on its exchange. The assets include successful Binance Initial Exchange Offerings (IEOs), namely Harmony (ONE), Matic Network, and Algorand amongst others.
CryptoNinjas - Bitcoin, Cryptocurrency & Blockchain Asset SourceTether, the stablecoin asset provider, today announced their integration with the recently launched Algorand protocol. Fiat-based stablecoins, such as Tether, provide a dependable on-ramp to the crypto ecosystem for retail and institutional participants alike.
Algorand had its successful first auction last month, leaving its closing price at $2. 40. It currently trades on cryptocurrency exchanges such as Binance for just over $1. Algorand employed a Dutch Auction, which means traders don’t know how much they’ll get until the auction ends.
Bitpie, a cryptocurrency wallet application, today announced a new partnership with soon to launch blockchain network, Algorand. As the first major crypto wallet integrating Algorand network, Bitpie will be actively engaged in the Algorand ecosystem promotion and provide the ALGO token holders a comprehensive wallet service.
Facebook’s crypto ambitions are reportedly not limited to its acquisition of blockchain startup Chainspace, according to The Information. Facebook Has Met with at Least Three More Crypto Startups Citing unnamed sources, the publication said Facebook has been eyeing several blockchain startups with a view of making acquisitions.
Algo Capital, a blockchain venture capital group, is launching a $100 million fund to invest and manage significant capital in emerging companies building on the Algorand decentralized platform, the company announced in a press release on December 11, 2018.
Algorand, a Boston-based startup founded by Silvio Micali, a Turing award winner, and cryptographer, has reportedly secured $62 million in equity investment and complimented the funding with the appointment of the executive team.
Стартап Algorand из Бостона, основанный профессором Массачусетского технологического института (MIT) и лауреатом премии Тьюринга Сильвио Микали, привлек инвестиции в размере $62 млн. Algorand announces @stevekokinos & @wsford as CEO & COO of Algorand.
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Algorand, a next-generation blockchain and cryptocurrency purpose-built for business today announced the closure of a $62 million equity investment and the addition of senior executive hires from leading global technology brands.
Algorand is a new cryptocurrency that confirms transactions with latency on the order of a minute while scaling to many users. Algorand ensures that users never have divergent views of confirmed transactions, even if some of the users are malicious and the network is temporarily partitioned.
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