Category Archive : Algorand

Crypto downturn may continue if central banks persist in their policy of tightening – Morgan Stanley

Bitcoin is down 55% from its November 2021 high, and currently trades at around $30,000. Over that same period, crypto market capitalization has lost over $1 trillion. What is causing the crypto downturn? Sheena Shah, Lead Cryptocurrency Analyst at Morgan Stanley, analyzes the crypto bear market.

Who is selling and what should we watch out for next?

“In general, the elevated prices were traded on speculation, with limited real user demand. NFT and digital land prices are next areas to watch.”

“The retail investors may have been outnumbered by institutions, but they haven’t gone away.”

“The downturn may continue if central banks persist in their policy of tightening, but the strong hands of these retail investors have historically served as a support to falling prices.”

 

Read more at www.fxstreet.com

Can You Make Millions And Possibly Retire Early With Sanzooz Finance (SZFT), Algorand (ALGO), and FTX (FTT)?

Sanzooz Finance (SZFT) is a new cryptocurrency token that will help users in trading artificial assets through smart contracts on a blockchain network. The Sanzooz Finance Token serves as a primary governance coin and will also be used for minting assets on the decentralized exchange trading protocol being launched by Sanzooz Finance.

The FTT Token will be used inside one of the largest derivatives exchanges in the world, FTX , and can be added periodically for the long term.

Algorand (ALGO) has remained one of the strongest bets heading further into 2022 and could provide huge returns as more projects seek to build on its network. Let’s find out if these three coins are worth investing in and why they could provide high returns in the long run.

Algorand remains grossly undervalued and could surprise many investors

Algorand is one of the most undervalued tokens and could surprise many investors. The ALGO founder Silvio Micali has worked hard to solve the blockchain trilemma which is used to refer to the problems of achieving scalability without compromising on decentralization and security.

Silvio recently explained that Algorand is the fourth generation of blockchain…

Read more at www.newsbtc.com

Anthony Scaramucci Takes Large Position in Algorand (ALGO)

Alex Dovbnya

Anthony Scaramucci has praised Algorand’s technology after taking a big stake in the native ALGO token

Contents

  • No extreme panic (for now)  
  • “Dirt cheap”

SkyBridge Capital head Anthony Scaramucci recently told Business Insider that he had taken a large position in Algorand (ALGO).

Scaramucci claims that he finds the project’s technology impressive.

The high-throughput blockchain was created by Italian computer scientist Silvio Micali, who recently described Bitcoin, the first cryptocurrency, as a “Neanderthal.”

As reported by U.Today, “pharma bro” Martin Shkreli recently singled out Algorand among his favorite blockchain projects.

No extreme panic (for now)  

Scaramucci, who has experienced a total of eight bear markets, believes that stock market traders are yet to capitulate since there’s no extreme panic in the air.

Speaking of Bitcoin’s price performance, Scaramucci refrained from making a price prediction this time around, but the investor believes that “anything could happen.” As reported by U.Today, the Bitcoin price could plunge to the $18,000 level if previous market cycles are any guide.

Scaramucci added that people should not own…

Read more at u.today

7 Best Cryptos to Buy for the Long Haul

This article covers seven of the best cryptos to buy in over a long-term horizon

  • Bitcoin (BTC-USD): The O.G. of the crypto space, which has established itself as a genuine financial asset
  • Ethereum (ETH-USD): Crypto with the most use-cases with the potential to outpace Bitcoin
  • Algorand (ALGO-USD): Blockchain network focused on solving the industry’s trilemma
  • Cardano (ADA-USD): Digital asset with the most compelling development blueprint
  • Solana (SOL-USD): With its speed and scale, it has become a facilitator in developing a digital economy
  • Decentraland (MANA-USD): Metaverse token with massive growth potential ahead
  • Polkadot (DOT): Blockchain focusing on interoperability which could benefit immensely from Web3.0

Source: Shutterstock

Cryptocurrencies have taken hiding amidst the risk-off investing environment. After topping $3 trillion last November, the whole sector has shed more than 50% of its value, keeping investors on the sidelines.

The crypto market has had a forgettable five months, with massive declines coming in May. Bitcoin fell below the $26,000 mark due to the weaknesses in the macroeconomy.

Moreover, the rising interest and inflation rates have…

Read more at investorplace.com

Algorand (ALGO) Brings Back LimeWire, STEPN (GMT) Runs Forward, and Sanzooz Finance (SZFT) Shakes DeFi

Algorand (ALGO) Downloads LimeWire to Web 3.0

The Algorand (ALGO) blockchain is set to be used in LimeWire’s upcoming NFT line and token distribution, which is set to begin its official launch campaign later this month.

The Web 1.0 juggernaut, which allowed users to share and download files such as music and images, has long past its heyday, having been discontinued back in 2010. For many, this has come as a shock, but for some, LimeWire’s return could not have come sooner.

For many users of the early Internet, there is an inherent nostalgia surrounding LimeWire, of downloading low quality audio files of the times best music, to sharing pictures across the Net to friends. And now, those who used the service as teens in the 00’s are adults, able to invest in NFT projects and upcoming cryptocurrencies.

As a project with a likelihood of success thanks to this powerful nostalgia, Algorand (ALGO) is also likely to feel the ripple effect, with a high chance their token will rise in value in turn.

Algorand (ALGO) already has several selling points that makes it a unique opportunity for investors, such as its one-of-a-kind…

Read more at techcabal.com

Here’s What to Expect Next

Algorand price remains in a consolidation mode as the cryptocurrency winter continues. The ALGO token is trading at $0.4180, which is about 20% below the highest point last week. It has fallen by more than 84% from its all-time high. A closer look shows that the coin’s performance is in line with that of other cryptocurrencies like Cardano and Avalanche.

Algorand has been in a strong bearish trend for months even as its ecosystem growth continues. There are several reasons why this sell-off has intensified. First, there is a sense in which most digital currencies became significantly overvalued during last year’s rally. Second, the ongoing hawkish turn by major central banks like the Federal Reserve and the ECB has pushed people away from risky assets. 

Third, the Algorand price has declined because of the changing fiscal policy. In the past two years, the American government unleashed stimulus worth trillions of dollars. With Algorand and other cryptocurrencies rising, many people reinvested this cash in them. The government has now ended most of the existing stimulus packages.

Most importantly, there are now systemic risks in the industry after the recent crash of…

Read more at www.investingcube.com

DeFiChain Forms Technical Committee to Further Decentralize the Consensus Code Governance

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DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, officially announces the formation of its Technical Committee after a community vote on the Improvement Proposal (DFIP) – 2205-A. A staggering 96% votes were in favor of establishing the Technical Committee. The proposal was put forth by the protocol’s Co-founder and Lead Researcher U-Zyn Chua.

DeFiChain Improvement Proposal 2205-A

DeFiChain is a fully decentralized blockchain with on-chain governance. The Technical Committee will further formalize and decentralize the consensus code governance to the benefit of the community without taking away any roles of masternodes in the decentralized governance. The masternodes will continue to decide on consensus updates via the DFIP process.

The Technical Committee will act as:

  1. Core maintainers of the consensus code
  2. Gatekeepers to ensure that the direction of the consensus code aligns with the consensus approved by masternodes via DFIP

U-Zyn Chua, Lead Researcher at DeFiChain, commented:

“This is another major step towards further decentralization of…

Read more at cryptobriefing.com

Data History Museum Reimagines Museums by Launching the World’s First NFT-Powered Collection of Earthquake Artifacts

Built on the Algorand blockchain, Data History Museum’s first NFT series of historical artifacts utilizes the US Geological Survey’s open API to create real time assets originating from earthquakes around the globe.

MELBOURNE, Australia, May 23, 2022 /PRNewswire/ — Data History Museum, a MakerX venture, has sold out its Genesis Collection, including the world’s first verifiably authentic digital historical artifact, which marks a 4.67 magnitude earthquake in Hawaii and was sold at auction for 1050 Algos, with 50% of the proceeds donated towards scientific research and 50% towards disaster relief.

Data History Museum was created to produce NFT artifacts for all major historical events as they happen. For example, the initial implementation creates an NFT for every major earthquake that occurs worldwide. Through automation that leverages data from the U.S. Geological Survey’s open API, the NFT minting for each earthquake is automatic and instantaneous, and also includes important metadata tied to the event such as magnitude, depth, longitude and latitude of the site, and more.

Before now, historical artifacts have been physical objects that contain data which can be extracted…

Read more at www.prnewswire.com

Algorand price to fakeout around $0.38

A brief technical and on-chain analysis on Algorand price. Here, FXStreet’s analysts evaluate where ALGO could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.

 

 

Read more at www.fxstreet.com

Top 5 DeFi Crypto Currencies in 2022 – CryptoMode

In an increasingly digitized financial world, Decentralized Finance (DeFi) focuses on offering the convenience of peer-to-peer transactions to investors. 

DeFi platforms use smart contracts, which are digital contracts that exist on the blockchain, to create a space for lending, borrowing, trading, saving, and earning interest that is free of the normal bureaucracy and minutiae.

The world of DeFi is growing by the day, but there are a few projects we are looking forward to in 2022.

Gnox’s main goal is to bridge the gap between the crypto and fiat worlds while showing the benefits and ease of use of its protocol to everyday users.

The project is a decentralized ecosystem made up of DeFi products, protocols, and use cases that work with more than one chain. It is the first DeFi earning protocol to offer both individual and institutional investors “Yield Farming as a Service.”

Gnox is a reflection project that uses treasury to invest in DeFi yield-earning protocols for its holders. By using its treasury to provide liquidity in well-known and safe pools, holders can be sure that the fair market value of their tokens has a natural tendency to go up.

Aave, formerly known…

Read more at cryptomode.com