I have personal knowledge that ALGO is a coin which a few whales are stacking up and accumulating for a long-term investment.
Algorand the blockchain behind the token is a decentralized layer 1 which claims to be the worlds ‘most powerful and sustainable blockchain’. The project is build on a proof of stake model and can currently process up to 1,000 TPS which is nothing amazing when compared to the likes of Visa which does 24,000 TPS.
One of the strongest aspects of this project is its founding team which includes the genius of MIT professor Silvio Micali.
Algorand’s current advantage compared to other L1s starting out is that the blockchain has already seen adoption from millions of users worldwide with over 30 million registered addresses. However as previously mentioned, there is a lot of competition to compete with now in the L1 space so will these newer L1s be able to eat into Algorand's market share and slow its adoption rate? This is one of my main questions to analyse. Show Less
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