US based web wallet service provider and Exchanger, Coinbase, has announced on 16th July’2020 a surprise listing of a new coin Algorand (ALGO) with trading opened up on the Exchange!
Algorand is a PPoS (Pure Proof of Stake) Blockchain protocol founded by MIT professor Silvio Micali. The all time high for the coin was $3.59 on June 20th 2019 & the lowest was in 13th March 2020 for $0.10. The coin has a circulating supply of 800 Million coins and a maximum supply of 10 Billion coins!
The news has astonished many in the crypto community as previously Coinbase did not feature ALGO among the 18 crypto assets announced for listing last month.
The listing news spiked ALGO price by 30% in less than 24 hours yesterday on 17th July’2020 (presently in price-correction mode).Trade volume increased four times and the price has currently tripled since this March’s lowest point for the cryptocoin. Crypto Exchange Binance is the most active trading market for Algorand (ALGO).
Charts by Coingecko.com
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