The First Pure POS Blockchain Platform;Algorand(ALGOUSD)ANALYSIS
Updated
Algorand reputed by the First Pure Proof of Stake Blockchain Platform , Algorand, Inc. is a technology company founded by cryptography pioneer, Turing award winner and MIT professor, Silvio Micali. He designed the Algorand platform with an internationally recognized team of researchers, mathematicians, cryptographers, and economists—from first principles—to guarantee true decentralization, scale and security.
While Silvio has been a leader cryptography since the 1980s, it is only more recently that Algorand was formed when he realized the opportunity to fulfill the promise of blockchain in our global society. With a highly regarded technical team, experienced business leadership, and a strong ecosystem, we have just begun our journey of building the borderless economy and continuing to evolve blockchain. We are here to create meaningful and evolving impact with our unique approach to blockchain. This is just the start.
What is 🌟Algorand🌟?
Algorand is a Boston-based open-source software company working towards building a borderless economy. They've developed a permissionless, PureProof-of-Stake (PoS) protocol with open participation, scalability, security and transaction finality
What is Algorand used for?
The public version of the Algorand blockchain is primarily designed to enable other developers to create new kinds of applications fuelled by cryptocurrency. The platform has been used in real estate, copyright, microfinance and more
✅competitors:
-One of the competitors of this project is EOS
-Nano is another competitor to this project.
-The Ethereum Casper Protocol is another competitor.
Algrand has significant advantages over competitors
👉1. Algrand uses the Byzantine consensus protocol.
Algrand transactions are confirmed in less than 5 seconds and the transferred money will be available immediately.
👉2. Algrand is completely decentralized and every decision is made based on the consensus of the majority.
👉3. Algrand selects a node at random, and these randomly selected people vote for the new block. This method is very fast, safe and without the need for trust, which is also very scalable and does not require a minor.
👉4- Distributing its token is a unique method in the style of Dutch auctions.
Is Algorand a good crypto?
Algorand is one of those projects in the crypto world that has everything going for it. It possesses strong tech, deep pockets, an influential investor pool, and a strong team. Thanks to its features and enormous growth potential, algorand is a good investment
✅The current CoinMarketCap ranking is #40, with a live market cap of $2,167,227,449 USD. It has a circulating supply of 1,972,416,676 ALGO coins and a max. supply of 10,000,000,000 ALGO coins.
The top exchanges for trading in Algorand are currently Binance, Huobi Global, OKEx, HBTC, and Hydax Exchange.
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✅TECHNICAL ANALYSIS
As we can see in the logarithmic chart above, The current price you see in the weekly timeframe and In the next three days, when the candle will completed, I think it will form an ascending hammer, as in the previous analysis and continue its move.
However, nothing in the market is definite and may move in the opposite direction of the hypothetical and surprise us. In any case, because we are in the weekly time frame, with a longer view, we can predict that according to the shape, it can match the pattern of the cup and Complete that in this case, you can enter the long position by observing the appropriate loss limit and by buying a step, and we can imagine the targets at $ 3.3, $ 8, $ 25, and even $ 80 in longtime scale if the market helps and Grow so much ,although everything depends on the whole conditions of the crypto market.
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
While Silvio has been a leader cryptography since the 1980s, it is only more recently that Algorand was formed when he realized the opportunity to fulfill the promise of blockchain in our global society. With a highly regarded technical team, experienced business leadership, and a strong ecosystem, we have just begun our journey of building the borderless economy and continuing to evolve blockchain. We are here to create meaningful and evolving impact with our unique approach to blockchain. This is just the start.
What is 🌟Algorand🌟?
Algorand is a Boston-based open-source software company working towards building a borderless economy. They've developed a permissionless, PureProof-of-Stake (PoS) protocol with open participation, scalability, security and transaction finality
What is Algorand used for?
The public version of the Algorand blockchain is primarily designed to enable other developers to create new kinds of applications fuelled by cryptocurrency. The platform has been used in real estate, copyright, microfinance and more
✅competitors:
-One of the competitors of this project is EOS
-Nano is another competitor to this project.
-The Ethereum Casper Protocol is another competitor.
Algrand has significant advantages over competitors
👉1. Algrand uses the Byzantine consensus protocol.
Algrand transactions are confirmed in less than 5 seconds and the transferred money will be available immediately.
👉2. Algrand is completely decentralized and every decision is made based on the consensus of the majority.
👉3. Algrand selects a node at random, and these randomly selected people vote for the new block. This method is very fast, safe and without the need for trust, which is also very scalable and does not require a minor.
👉4- Distributing its token is a unique method in the style of Dutch auctions.
Is Algorand a good crypto?
Algorand is one of those projects in the crypto world that has everything going for it. It possesses strong tech, deep pockets, an influential investor pool, and a strong team. Thanks to its features and enormous growth potential, algorand is a good investment
✅The current CoinMarketCap ranking is #40, with a live market cap of $2,167,227,449 USD. It has a circulating supply of 1,972,416,676 ALGO coins and a max. supply of 10,000,000,000 ALGO coins.
The top exchanges for trading in Algorand are currently Binance, Huobi Global, OKEx, HBTC, and Hydax Exchange.
---------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As we can see in the logarithmic chart above, The current price you see in the weekly timeframe and In the next three days, when the candle will completed, I think it will form an ascending hammer, as in the previous analysis and continue its move.
However, nothing in the market is definite and may move in the opposite direction of the hypothetical and surprise us. In any case, because we are in the weekly time frame, with a longer view, we can predict that according to the shape, it can match the pattern of the cup and Complete that in this case, you can enter the long position by observing the appropriate loss limit and by buying a step, and we can imagine the targets at $ 3.3, $ 8, $ 25, and even $ 80 in longtime scale if the market helps and Grow so much ,although everything depends on the whole conditions of the crypto market.
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
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