Please bear with me as this is my first "real" On-Chain analysis.
Talking about bears, ALGO currently exhibits a bearish signal, characterized by a high percentage of large holders (76%) and a 0.59 correlation with Bitcoin. These factors indicate a negative trend in the token's performance. Additional important details include:
The Algorand idea of addressing the challenge of high computational power in blockchain technology is highly promising and impactful.
The issue of high computational power requirements is a significant hurdle that many blockchain networks face, leading to concerns about scalability, energy consumption, and environmental sustainability. Algorand's approach to tackling this challenge demonstrates... More
The on-chain activity of ALGO is of great interest to me. The following are noteworthy:
First, Figure 1 shows that 100% of ALGO holders are now experiencing losses. 75% of these holders possess ALGO amounts equivalent to approximately 722,000 USD at the time of writing on May 12, 2023, and most have held for over one year. This indicates limited selling pressure and long-term commitment to the... More
Led by our outstanding founder, Silvio Micali, we have the following key members in the Algorand team:
1/ Paul Riegle (CPO): Paul has extensive experience leading product strategies for startups and Fortune 25 organizations. Before joining Algorand, he played a key role at Carbon Black, overseeing product management for strategic initiatives generating over $200 million in recurring revenue. He... More
What I particularly like is that on their AlgoExplorer, they alo show the current circulating supply of $ALGO, on-chain health such as block speed, live TPS, transaction costs, transaction history at a glance and the number of accounts. I am also able to take a deeper look into the statistics of top accounts (whether they're online/participating) and top statistics such as token economics... More
The Algorand team is led by Dr. Silvio Micali, who is a world-renowned computer scientist and professor at MIT who has won numerous awards for his contributions to cryptography and computer science. The team also includes seasoned executives from the tech and finance industries who bring a wealth of experience and expertise to the project. Worthwhile teams members to look more into are: Paul... More
At this point, Algorand appears to be both technically and commercially positioned to be a success in the blockchain space. This is one project that deserves attention going forward in my opinion especially as I know it has the attention of a few big whales who are accumulating this coin during this bear market.
I think if you’re prepared to hold this coin for the long term the rewards from... More
In terms of progress, I feel that Algorand is on the right track to making steady improvements to its project.
The Algorand community has been discussing the proposal of a new metadata top-level field that would allow creators to define filterable custom attributes for their NFTs. Currently, creators can add metadata to their NFTs to provide additional information such as a description or an... More
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... More
The reason I can explain the technology behind ALGO simply is because it's not a new idea. Many attempts have been made in the past to improve the blockchain trilemma. In short, Algorand focuses on making transactions fast, secure, and fair while providing developers powerful tools for their platform.
Algorand's technology is based on a decentralized system called proof-of-stake (PoS). This... More
So, what is the idea behind Algorand? In short, they aim to achieve global trust among trustless parties through blockchain-based decentralization. So yeah, the platform prioritizes simple designs to eliminate barriers to prosperity.
Am I enthusiastic? Not really. Algorand is one of the newer projects seeking to expand the use cases for cryptocurrency by accelerating transaction speeds and... More
Algorand is designed to overcome the blockchain trilemma - security, decentralization, and scalability- all at once. It operates in a pure proof-of-stake (PPoS) consensus mechanism that processes transactions faster and promotes participation. Note: PPoS is a consensus algorithm whereby the probability of a participant creating a block is directly related to the number of tokens that they own.... More
If I were to be looking as a long term investor, I would definitely be stacking up on Algo and staking them during the bear market, as they show extremely strong fundamentals (strong team, strong technicals) and has a sustainable approach towards their development - something that is always beneficial and I constantly keep a look out for projects if they are paying attention to the impact around... More
Algorand has a HUGE Community and they've been extremely active in updating socials. There is almost never a month in which the community is unsure of what they are focusing on.
They have an extremely strong social engagement with 334k followers on Twitter, sharing about updates to the ecosystem, guides for developers, and also life updates regarding the team. It feels like instead of just... More
Algorand has an impressive team with the founder, Dr Silvo Micali that comes with almost 40 years of experience in Computer Science, being a professor at MIT and also being the co-inventor of ZK-Proofs. He founded Algorand in 2017 and currently oversees all research and finance.
Dr Silvo Micali is highly reputable, being the recipient of of the Turing Award, a highly coveted prize for... More
Algorand is a pure proof-of-stake green cryptocurrency with robust security and tps of around 6000 after its September upgrade. That’s very decent and I like the green ethos. Algorand is carbon-negative through its minimal emissions and carbon offset approach. It has fallen harder than many peers in the current crypto winter. The current price is $0.16 per ALGO. Algorand is 94.98% below the all... More
One thing the Algorand team are very good at is frequently updating their various socials pages keeping the ALGO community up to date on news and announcements.
On Twitter, the project has over 330k followers, their Facebook page has over 130k followers, and the Telegram channel is quite active as well with some constructive conversations taking place. This highlights to me the strength of the... More
Algorand has been impressive in its development speed and its lack of significant bugs. The mainnet launched very quickly, and the code base which has been publicly released, has been deemed to be well documented and solid by the developer community.
Algorand's technology is designed to address some of the key challenges facing decentralized platforms, such as scalability, security, and... More
One of the primary reasons Algorand shows long-term potential aside from its technology is the expanding number of projects and use cases already deployed or are in development with the project.
Some of these examples are:
Algorand is a Layer 1 network designed to address the so called blockchain trilemma of decentralization, security, and scalability. It is a smart contract platform that utilizes a two-tier structure and a unique variant of the Proof-of-Stake consensus mechanism to enhance transaction speed and attain finality.
Algorand was created by a highly respected cryptography professor from MIT. The... More
