Top chains by % increase in fees (7D):
1️⃣ Avalanche: +136%
2️⃣ Gravity: +49%
3️⃣ Algorand: +36%
4️⃣ Ton: +25%
5️⃣ Blast: +13%
More onchain activity = more fees paid.
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Kong Trading 🦍
$ALGO heating up and it’s not by accident
New roadmap live
P2P layer coming
Cross-chain deals inked
Payment rails getting real
xGov rolling
Global hackathon incoming
Marketing going full throttle
This feels like the start of a real $ALGO arc. Don’t blink.
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Samtooッ🍄
So, what is 'Axelar ($AXL)' that got listed on Upbit?
Axelar is a cross-chain infrastructure that connects various blockchains to securely transfer assets and messages.
Those who have studied XRP a bit (which I doubt many have) would know that XRP also includes ISO 20022-based messages for remittances or payment instructions between financial institutions. (e.g., who the sender is, how much the amount is, when the remittance occurred, etc.)
So, what does the 'message' sent by Axelar mean? It refers to messages that execute smart contracts.
"I'm going to send this to Pano, and once the remittance is complete, buy as many NFTs as possible with this amount." or "Once 1 ETH is sent to Joshiker's wallet, swap it for Bera and deposit it in DeFi," is the kind of messaging technology that contains "smart contracts."
As you know, Ethereum is developed in Solidity, Solana in Rust, Bitcoin and XRP in C++, Algorand in Golang, Aptos and Sui in Move, etc...
Blockchains are developed in different languages and structures.
Therefore, Axelar generates neutral messages in JSON format, and local interpreters deployed on each chain interpret and execute them.
In my opinion, this is a technology that provides convenience to blockchain financially illiterate individuals, and it will play a role in creating liquidity (not supply) that is essential for the economy to function in the AI era and the multi-blockchain era, rather than just moving assets.
Ultimately, I think it's the cornerstone of a stage where you can send messages in natural language and have them executed.
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TheS◎Lstice
Algo
Show original
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The Cryptomist
Can't state how bullish I am on #ALGO for the long term.
Adding on each dip every time I get a chance!
Algorand Foundation
What’s on the way for Algorand?
🟢 New Roadmap
🟢 P2P
🟢 New Interoperability Partnerships
🟢 New Payment Partnerships
🟢 World’s Largest Hackathon
🟢 xGov Council
🟢 New Marketing Campaign
And more…
Tune in on 11th June to the Algorand Community Town Hall to hear more 👇
The current price of Algorand is $0.19810. Over the last 24 hours, Algorand has increased by +4.70%. It currently has a circulating supply of 8,619,930,320 ALGO and a maximum supply of 10,000,000,000 ALGO, giving it a fully diluted market cap of $1.71B. At present, Algorand holds the 33 position in market cap rankings. The Algorand/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
Algorand is a decentralized blockchain network that aims to solve the blockchain trilemma by providing a secure, scalable, and fully decentralized network. Furthermore, because the source code of the Algorand blockchain is entirely open source and permissionless, the network is designed to be accessible and provide an ideal environment for developers to deploy decentralized applications (DApps) rapidly.
The Algorand blockchain is secured by an innovative Pure-Proof-of-Stake (PPoS) consensus mechanism. This gives Algorand the necessary processing power to execute over 1,000 transactions per second. Moreover, the Algorand network benefits from low gas fees, making it user-friendly.
One of the unique benefits of Algorand over other blockchains is that ALGO holders can earn rewards without needing to stake their ALGO tokens due to its unique consensus mechanism. Instead, rewards are automatically distributed to holders via the chain's PPoS consensus model. Hence, many traders consider Algorand an excellent blockchain for the mass adoption of cryptocurrency.
ALGO is the utility and governance token of the Algorand blockchain. ALGO is required to pay gas fees when completing on-chain transactions and is used to vote on essential governance proposals regarding the development of the Algorand blockchain. In 2020, it was announced that the Marshallese sovereign (SOV), which could become the first state-backed digital currency to enter circulation, would be built using the Algorand protocol. SOV is a blockchain-based currency and the new legal tender of the Republic of the Marshall Islands. SOV could become the first state-backed digital currency to enter circulation and is being built using the Algorand protocol by SFB Technologies.
ALGO price and tokenomics
The current circulating supply of ALGO tokens is approximately 7.07 billion tokens. This represents roughly 70 percent of the total ALGO supply of 10 billion tokens. The Algorand Foundation holds the remaining ALGO tokens in secure wallets. The Foundation aims to enable an inclusive, borderless global economy through Algorand's blockchain technology.
1,757.26 million tokens are allocated to community and governance rewards, 1,176.05 million tokens are distributed to ecosystem support, and 363 million tokens are channeled towards foundation endowment. Seed and presale round investors could sell their ALGO token allocation back to the Algorand Foundation at 90 percent of the initial purchase price.
These tokens were then burnt by the team, effectively reducing the supply. This deflationary mechanic was intended to increase token scarcity and drive appreciation to Algorand's price. In June 2019, via a Dutch auction, Algorand raised over $60 million in the public sale of its native token ALGO. The company sold 25 million tokens in less than 4 hours.
About the founders
Algorand was founded by Silvio Micali, the co-inventor of probabilistic encryption, zero-knowledge proofs, verifiable random functions, and other protocols that heavily contribute to modern cryptography. In 2017, Micali founded Algorand, overseeing all research, including theory, security, and crypto finance. He also received the Turing Award for computer science, the Gödel Prize for theoretical computer science, and the RSA prize in cryptography.
Since 1983, Micali has been a faculty member at the Massachusetts Institute of Technology (MIT) in the electrical engineering and computer science department. His research interests include cryptography, zero knowledge, pseudorandom generation, secure protocols, mechanism design, and blockchain.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 2.2K new posts about Algorand, driven by 1.1K contributors, and total online engagement reached 310K social interactions. The sentiment score for Algorand currently stands at 85%. Compared to all cryptocurrencies, post volume for Algorand currently ranks at 2166. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Algorand.
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Posts
2,178
Contributors
1,080
Interactions
309,846
Sentiment
85%
Volume rank
#2166
X
Posts
1,241
Interactions
269,855
Sentiment
85%
Algorand FAQ
What is Algorand?
Algorand is a decentralized blockchain network capable of executing smart contracts. Algorand's low fees, rapid finality, and high transaction throughput have attracted interest from several nations looking for central bank digital currency (CBDC) solutions.
Should I purchase ALGO?
At OKX, we advise you to research any cryptocurrency before trading. Cryptocurrency is deemed a high-risk asset and prone to sharp price movements. Therefore, we ask that you only buy what you are willing to lose. Furthermore, like all cryptocurrencies, ALGO is volatile and carries risks. Therefore, before purchasing, you should do your own research (DYOR) and evaluate your risk appetite before proceeding.
What is the ALGO price prediction?
While it’s challenging to predict the exact future price of ALGO, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is 1 Algorand worth today?
Currently, one Algorand is worth $0.19810. For answers and insight into Algorand's price action, you're in the right place. Explore the latest Algorand charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Algorand, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Algorand have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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