Over the last few months the entire cryptomarket has recuperated significantly. Bitcoin nearly doubled from a low of roughly $6,000 per token to nearly $12,000 per token (it even broke the 12k barrier for a while!). Ethereum too has nearly doubled from its lows a few months ago. This recuperation has held true for all of the tokens listed on Coinbase Pro. However, some tokens like Chainlink's $LINK have performed significantly better than this. At the height of the market's crash in March, Chainlink fell below the $2 mark, but has more than rebounded and now sits above $13 per token as of this writing.
The problem is that many doubt the long-term nature of Chainlink's viability. A firm called Zeus Capital has recently come out with a 50 page report detailing the various ways in which they believe that Chainlink is a Russian pump and dump scheme. While some doubt the veracity of the report, even going as far as to claim that it was engineered by NEXO, an altcoin that competes in a similar space as $LINK, many of the facts in the report are pretty damning. In addition, $LINK has offered no credible response to the accusations.
Algorand, on the other hand, has no such skeletons in its closet and its price increase has significantly outperformed others listed on Coinbase Pro over the last few months. In March, Algo's price had dropped to nearly $.10 per token, but over the last few days the price has been flirting with the $.50 mark, an increase of a whopping 500%. Three weeks ago, Algorand was listed on Coinbase's main exchange (the pro version had already listed Algorand a while back), and the price shot up 66% in less than an hour. These are the kind of gains crypto enthusiasts can only dream of.
While the jury is still out on whether Algorand will prove to accomplish everything it has set out to do, the next generation blockchain is no scam. The founder of the Algorand Foundation, Silvio Micali, claims to have solved the famous blockchain trilemma espoused by Vitarin Butalik. Perhaps this is what has been driving Algorand's impressive growth. Or perhaps it is the plethora of partnerships they seem to be continually developing. Either way, it seems that many more 500% gains are in store for anyone HODLing some ALGO. And it's certainly not too late to hop on the bandwagon.
For more on Algo, please see the other articles on my Publish0x blog.
