Tag: Algo

Algorand Foundation Joins Forces with Borderless Capital, Arrington Capital, and DWF to Invest in Pera Algo Wallet

by Blockchain News

The Algorand Foundation, in partnership with Borderless Capital, Arrington Capital, and DWFLabs, has announced a strategic investment in the Pera Algo Wallet. This investment aims to expedite the expansion and adoption of the Algorand ecosystem by enhancing the capabilities of this self-custodial wallet.

Pera Algo Wallet, an open-source platform, empowers users to securely store, purchase, and trade cryptocurrencies on the Algorand blockchain. The Algorand Foundation’s commitment to providing essential tools and support for ecosystem growth is exemplified by its decision to support and nurture Pera Algo Wallet.

Under the leadership of CTO HYigitGuler, the core engineering team of Pera Algo Wallet will continue to advance the platform’s features and functionality. Oversight of Pera Algo Wallet will be assumed by the Algorand Foundation’s EVP of Ecosystem Growth, mintwt, and Principal Architect, Bruno Martins, who brings a wealth of experience in wallet architecture, mobile applications, applied cryptography, and encrypted messaging systems.

The Algorand Foundation reaffirms its dedication to fostering a diverse ecosystem by pledging continued support for various Algorand wallets, including Defly, Exodus, Fireblocks, Ledger, MyAlgo, DaffiWallet, and more.

Pera Algo Wallet, which recorded over 1 million new app downloads in 2023, will maintain uninterrupted wallet services and customer support for existing users following this strategic partnership.

This investment by the Algorand Foundation underscores its commitment to bolstering the cryptocurrency ecosystem. It is anticipated that this collaboration will pave the way for further advancements within the Algorand network, potentially expanding opportunities for cryptocurrency adoption and utilization.

For those interested in gaining deeper insights into this partnership and its implications for the Algorand ecosystem, the Algorand Foundation will host a live event on their Spaces channel at 12:00 pm EDT.

The Algorand community has enthusiastically received this announcement, with members expressing optimism about the potential use of $Algo for payments on platforms like Shopify. This showcases the growing enthusiasm within the Algorand community.

The Algorand Foundation’s dedication to nurturing the Algorand ecosystem through strategic investments exemplifies its commitment to the blockchain industry’s growth and development.

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Algorand Initiates Voting for Expanded Governance and NFT Rewards Programs

by Blockchain News

Key Takeaways

  1. Algorand Foundation opened voting for its Period 8 governance measures from September 1 to September 15, 2023.

  2. The foundation aims to auto-renew the xGov Grants Program and increase allocation for the NFT Rewards Program.

  3. Total stake voted so far stands at 575.7 million Algo, with 7.8K governors participating.

  4. The native token $ALGO has seen a sharp decline from $3 in 2021 to its current price of $0.094.

Governance Measures in Focus

The Algorand Foundation has entered the voting phase for Period 8, Session 1, focusing on initiatives including the xGov Grants Program and the NFT Rewards Program. The voting window is open from September 1, 2023, until September 15, 2023, and has already seen 575.7 million Algo staked and 7.8K governors participating.

The core of the voting session is aimed at auto-renewal mechanisms for the xGov grants and an increased allocation for the NFT rewards scheme. Preliminary results show strong approval from the Algorand community. 

Although the Algorand Foundation is working to expand its ecosystem and add more functions, its native token, $ALGO, has plummeted from $3 in 2021 to just $0.094.

xGov Grants Program: Piloting for Sustainability

The xGov Grants Program is in its pilot phase, and 26 projects have submitted proposals for grants amounting to around 5 million Algo. The community aims to refine the xGov Minimum Viable Product (MVP) to better filter and select impactful projects. This voting session also includes a measure that seeks to “automatically top up the xGov grant allocations by tapping into the quarterly governance rewards available.”

If approved, the top-up mechanism will activate when the remaining grant funds drop below 1 million Algo, ensuring continuity. Currently, the measure has gained 76.68% approval, according to the foundation’s data.

NFT Rewards Program: Measuring Success and Proposing Expansion

The NFT Rewards Program initially allocated 500K Algo to boost Algorand’s NFT community. Since its launch in late July to early August 2023, the program has seen significant results. For instance, Rand Gallery experienced a 4X jump in transaction volume within the first week of the program. Another platform, Shuffl, saw a notable increase in listings and user engagement, while Algogems doubled its monthly volume to 33K by mid-August.

The current voting session proposes to extend the NFT rewards program and increase the allocation from 500K to 1 million Algo. However, this measure has so far received less favor, with only 42.23% approval, according to current data.

Future Outlook

These governance measures provide an outlook into how the Algorand Foundation is seeking to sustainably manage the grant allocation and strategically incentivize its growing NFT ecosystem. The decisions made during this voting session will play a critical role in shaping the Algorand community’s initiatives for the upcoming fourth quarter of 2023.

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Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%

by NEWSBTC

Today, the Algorand Foundation announced the appointment of Staci Warden as their CEO. On the board of the foundation since September 2021, according to a press release, Warden will take on the responsibilities as its leader.

Related Reading | Bitcoin Steadies Above $45k, US Inflation Comes In At 7.5% Year Over Year

The Algorand Foundation will nurture from Warden vast experience. Before joining the organization, she ran the Global Market Development practice at the Milken Institute, a nonprofit think tank created with the objective of aiding people at “building meaningful lives”.

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At the Milken Institute, Warden led the nonprofit’s work on capital market development, innovative finance with sustainable development goals, and crypto and blockchain solutions, according to the release. Its subsequent participation in the Algorand ecosystem seems like a logical step.

This network aims at becoming the hub for the “future of finance” running on its Proof-of-Stake (PoS) blockchain by merging decentralize and traditional finances. Designed with a non-carbon emission approach, with low-cost and a scalable network, Warden has acknowledged its potential.

According to Kieron Guilfoyle, the Foundation’s Board Chairman:

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Staci understands the potential for Algorand to become a dominant Layer One blockchain, and she has the experience and expertise to drive our global efforts to scale and to deliver outstanding value to our community. I know she will waste no time in shifting the Algorand Foundation into its expansion phase.

In addition to her experience at the Milken Institute, Warden ran JP Morgan’s Europe, the Middle East and Africa (EMEA) practices. She also led the Nasdaq’s two market for microcap companies and held senior positions in the public and nonprofit sector at the U.S. Treasury Department, according to the release.

Furthermore, Warden worked for the Center for Global Development, and the Harvard Institute for International Development. The new member at the Foundation has experienced doing business in over 50 countries with a vast knowledge of the use cases and potential for crypto to aid people and mitigate real world issues.

The Algorand Foundation, And How Crypto Can Help The World

The Foundation believes the current year will be “key” in the development of ALGO network. In 2022, they expect the DeFi sector, Non-Fungible Tokens (NFTs), to continue to gain relevance and increase their adoption rates.

In that sense, the Foundation has set out to make the network a core “building block” for the digital economy of the future. Warded stated the following on her new role:

1.7 billion people in the world do not have access to finance, and the Algorand protocol has the speed, the security, and the decentralization to address the problem of global financial inclusion at scale. By both ratcheting up our global ambitions as well as doubling down on our commitment to the DeFi ecosystem, I know that we will deliver tremendous value for both the Algorand ecosystem as a whole and the end-users it supports.

Related Reading | Algorand, Solana, And More Lead List Of Biggest Losing Altcoins

As of press time, ALGO trades at $1,01 and has seen an almost 10% profit in the last week as the crypto market continues to trend to the upside. As the year enter the end of its first quarter, it’ll be interested to see if ALGO and the market in general will be able to sustain their bullish momentum.

Algorand ALOGUSDT
ALGOUSDT moving sideways on the daily chart. Source: ALGOUSDT Tradingview

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Here’s What’s Coming for Bitcoin (BTC), Ethereum (ETH) and Algorand (ALGO) in 2022: InvestAnswers

by Dailyhodl

A popular crypto analyst is setting price targets for three crypto assets as the markets try to bounce back from a shaky start to 2022.

In a new strategy session, the host of financial education YouTube channel InvestAnswers shares with his 407,000 subscribers a Bitcoin (BTC) chart from CryptoStackers founder Forrest Przybysz.

The chart features three key price range metrics: accumulation in the lows, mean reversion where price bounces back, and overextension which plots out anticipated rally tops.

The InvestAnswers host says of Przybysz,

“He’s very conservative in his estimates and I love his simple charts. He believes we could go to $102,000 in this bull market this year.

The mean reversion line is about $51,000, and the shopping layer is between $30,000 and $25,000 – but obviously a little bit higher too. We’re not going to see that at $25,000. We didn’t even get under $31,000.”

Bitcoin has managed to sustain the rally from its monthly low under $34,000 on January 24th, but at $38,873 is still 17.9% off its $47,292 valuation on New Year’s Day.

Next up is leading smart contract platform Ethereum (ETH), which has dropped 25% so far this year.

The crypto analyst references another CryptoStackers chart while discussing the status of ETH 2.0 to see where the project might be headed next.

“Looking at this chart you will see the accumulation zone [$1,881] which we’re way above right now. Mean reversion about $3,760. And the overextension about $7,500.

We spent all of 2021 talking about ETH 2.0, that’s now a thing of the past, doesn’t exist. They’re kind of rebranding what it’s supposed to be. Maybe that’ll help them buy more time, but we’ll see if we’re actually going to get there at all.

Many people are saying… consensus mechanism is not going to be ready until probably 2023.

That’s reflected by, as we saw, the money outflows, the lack of confidence, and money flowing into other assets as we go forward.”

Source: InvestAnswers/YouTube

Ethereum is up 5.68% on the day and trading for $2,785.

Last on the list is the open-source, decentralized blockchain network Algorand (ALGO).

Regarding the well-known financial media outlet The Motley Fool’s claim that Algorand will be the Solana (SOL) of 2022, the InvestAnswers host remains skeptical.

“Looking at the chart of Algorand for the last 12 months, it’s flat.

It’s basically where it was a year ago. That’s never a good sign for kind of a whole year to be lost.”

Regarding tokens that have traded flat such as ALGO, the host concludes,

“Yeah, some of them may double, but we want more than a double this year, that’s what we’re looking for. We start at triples.

Considering the retracement we’ve had as well, it should be very easy to find a whole bunch of triples.”

At time of writing, Algorand is up 3% to $0.98. A month ago it was trading for nearly $1.70.

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Cosmos (ATOM), Fantom (FTM) and 23 Other Altcoins Added to Crypto Giant Grayscale’s List of Assets Under Consideration

by Dailyhodl

The world’s largest digital asset manager has provided a glimpse into which crypto investment products they’re considering offering next.

According to a new announcement, there are 25 crypto assets that Grayscale is considering for new investment products, including altcoins Cosmos (ATOM) and Fantom (FTM).

“‘Assets Under Consideration’ lists some digital assets that are not currently included in a Grayscale investment product, but that have come to our attention as part of our exploration of this sector, and that our team has identified as possible candidates for inclusion in a future investment product.”

Grayscale already has investment products for 24 digital assets, including investment products for top cryptos Bitcoin (BTC) and Ethereum (ETH). The 25 new cryptos under consideration by Grayscale include a diverse batch of big-name projects.

The biggest crypto assets by market cap on Grayscale’s list are smart contract platforms Cosmos and Fantom. Algorand (ALGO) is also under consideration by the crypto investment giant, alongside enterprise solution blockchain VeChain (VET) and play-to-earn blockchain game Axie Infinity (AXS).

Other notable altcoins newly added to Grayscale’s assets under consideration list include metaverse blockchain gaming token Gala (GALA) and virtual world The Sandbox (SAND). Other large-cap cryptos, such as Avalanche (AVAX), Polygon (MATIC) and Terra (LUNA), were already under consideration before the most recent update.

The other new assets under Grayscale’s consideration are Arweave (AR), Bancor (BNT), BitTorrent (BTT), Convex (CVX), Decred (DCR), Elrond (EGLD), Enjin (ENJ), Gelato (GEL), Helium (HNT), Holo (HOT), IOTA (IOTA), Oasis Network (ROSE), Secret (SCRT), Spell (SPELL), Stacks (STX), Universal Market Access (UMA), Yield Guild Games (YGG), and BORA (BORA).

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Strategist Justin Bennett Updates Outlook on Bitcoin (BTC), Ethereum (ETH), and Two Popular Altcoins

by Dailyhodl

A widely-followed crypto analyst foresees impending bounces for top cryptos Bitcoin (BTC) and Ethereum (ETH) while highlighting support levels for two popular altcoins.

In a recent YouTube update, crypto trader Justin Bennett tells his 8,470 subscribers that a substantial Bitcoin bounce could be on the horizon.

“I would expect, at some point over the coming weeks, at least a 20-30% bounce from BTC.”

With Bitcoin currently trading for $43,122, a 20-30% upswing would mean that Bennett expects BTC to reach somewhere between $50,000-$56,000 in the coming weeks.

Looking at leading smart contract platform Ethereum, Bennett points out that $3,000 has held support recently. However, he warns that ETH may dip lower before bouncing back.

“So if we do see [ETH] close below [$3,000], there’s a chance that we see it move down into support right around $2,800, maybe $2,900, and then we get that bounce.”

Ethereum is trading for $3,252.36 at time of writing, just north of the $3,000 support zone highlighted by Bennett.

Bennett then looks at payments and decentralized finance blockchain Algorand (ALGO) and notes that it might currently be in a bullish formation, even if the price dips lower.

“We’ve had this channel that’s developed which could be a bullish formation if the market can find support down here around $1.15.

If we get a re-test [of $1.15] towards the end of January, this is going to be a confluence of support, right around $1.15. If we do get a bounce from there, the next resistance is going to come in here around $1.50 to $1.60.”

With Algorand currently trading at $1.31, a drop to $1.15 would represent a 12% dive.

Finally, Bennett looks at enterprise solution blockchain VeChain (VET) and notes that $0.06 has served as VET’s support over the last year.

“If we see VeChain close below $0.07, then keep an eye on $0.06-$0.065.

Because this going to be a must hold for buyers… and could produce a favorable buying opportunity.

I think any rotation into $0.06-$0.065 could produce a healthy bounce.”

VeChain is trading for $0.074 at time of writing, up 3.61% in the last 24 hours.

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This Altcoin Will Be the ‘Google’ of Crypto, According to SkyBridge Capital Founder Anthony Scaramucci

by Dailyhodl

SkyBridge Capital founder Anthony Scaramucci says that Algorand (ALGO) will challenge leading competitors in the crypto industry just as Google did in the early days of the internet.

In a new interview with Digital Asset News, Scaramucci says that he is investing heavily in ALGO because he thinks it will replace many of its competitors.

“I’ve got a quarter-billion dollars in Algorand right now. I think Algorand will be the Google. 

You and I, when we were youngsters, we were logging onto the internet using AltaVista. We were using Lycos, America Online – even Prodigy, if you can remember that. Then lo and behold in 1998, this company came along called Google and people were like, ‘Why the hell do I need that? I’ve got all of these other instruments to access the internet,’ and then people say, ‘Well, you know it’s faster. It has machine learning, the algorithms are more widespread. It’s going to lead to better outcomes,’ and lo and behold, Google trumped everybody, and I think that’s going to happen with Algorand.”

Algorand is a proof-of-stake blockchain that enables developers to build decentralized applications (dApps) for financial services. The smart contract platform is an Ethereum (ETH) challenger that aims to accelerate transaction speed at a lower cost. 

“I think ultimately when the big enterprises get on to the tokenization side of the market and they start working in the world of DeFi (decentralized finance), they’ll need something that’s scalable like Algorand, secure like Algorand and ultimately decentralized, so they won’t have to worry about capricious inflation-deflation of what it is that they’re using as a form of exchange of value. 

Algorand to me is the future. It’s just going to require more and more people doing deep dive due diligence and making the decision to choose it.”

In an interview on CNBC’s Halftime Report in December, Scaramucci said that Algorand can potentially flip Ethereum, the leading smart contract platform today. 

At time of writing, ALGO is trading at $1.38.

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Here’s What Next for Algorand, Chainlink, The Sandbox and Two Additional Altcoins, According to Crypto Analyst Michaël van de Poppe

by Dailyhodl

Michaël van de Poppe is plotting the price direction of the altcoins Algorand (ALGO), The Sandbox (SAND), Chainlink (LINK), Curve DAO Token (CRV) and Swipe (SXP).

In a new video, the crypto analyst tells his 158,000 YouTube subscribers that Algorand is entering into a period where traders should ideally place their money at bottom price levels to make the most of swing trade opportunities.

“What is the level that I preferably want to see Algorand breakthrough?

That’s this entire block that we have here at $1.75.

If that one breaks, we can clearly see continuation happening on the markets as right now we are facing resistance.

After a beautiful bounce, you can see that we are already up approximately 30% to 35% and if we break through this one, the next resistance point that we can actually attack is the area around $2.10 to $2.25.”

Van de Poppe says that SAND offers a great day trade opportunity at the retest level of around $5.25.

“If the area around $5.10 is lost, a re-test at $3.95 or perhaps even $3 is most likely going to take place.”

The analyst also identifies the potential entry points for CRV, which is currently facing resistance at around $6.

“I would definitely be looking at entry points around $4.50 as the first one and if we do make a break above $6.10,  I think you want to buy that flip as well targeting $8 or targeting even potentially around $10.”

For Chainlink, he says traders could start building their positions between $13.86 and $16.71.

“Crucial break for this one is to break through $23.50.

If that one breaks, the next test is going to be $35 and then we’re most likely getting ourselves in a new upwards trend.”

As for Swipe, van de Poppe says that the crucial resistance level that the coin has to break is at around $2.20.

“If that one breaks, you know that you could be looking at a potential level to flip where you can start building your positions, but when you’re looking at the structure in this case, I think you clearly want to wait until we get a re-test happening around  $1.70.”

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One Altcoin Is Now Mirroring Pre-Breakout Patterns of Cardano, Algorand and Bitcoin, Says Crypto Analyst

by Dailyhodl

A popular crypto strategist says one decentralized finance altcoin is mimicking the patterns of other crypto assets right before they broke out.

The pseudonymous crypto analyst known as Pentoshi tells his 429,500 Twitter followers that Curve Dao Token (CRV) looks like a “coiled spring wound tight.”

CRV is the governance token for Curve Finance, a decentralized exchange for stablecoins that aims at ensuring minimal slippage by attracting deep liquidity.

Pentoshi indicates he’s seeing a pattern on the Curve/Bitcoin (CRV/BTC) chart where CRV starts making higher highs and higher lows right as it breaks into a volume gap, which is the space between the recent highs and the highs from a long time ago.

“Chart. Clean, multi-year level with HH + HL compression into vol gap”

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Source: Pentosh1/Twitter

The 74th-ranked crypto asset by market cap is trading at $5.09 at time of writing, up 9.43% in the past 24 hours. CRV is also trading at a nearly identical level to where it was priced one month ago.

The analyst then compares CRV’s chart to the shape of previous rallies made by scalable smart contract platform Algorand (ALGO), proof-of-stake blockchain Cardano (ADA) and leading crypto Bitcoin.

ALGO is trading at $1.62, down 1.12% on the day while ADA is priced at $1.34, up 2.80% over the last 24 hours. BTC is exchanging hands at $48,606.50, down 1.82% at time of writing.

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Billion-Dollar Hedge Fund Manager Says This Emerging Altcoin Could Flip Ethereum

by Dailyhodl

Hedge fund manager Anthony Scaramucci says one Ethereum (ETH) competitor could become the Google of the cryptocurrency market.

In a new interview on CNBC’s Halftime Report, Scaramucci says the high speed and low carbon footprint of the smart contract platform Algorand (ALGO) will likely give it a big leg up on the competition.

Algorand is a payments-focused public blockchain that uses a type of consensus mechanism called the pure Proof-of-Stake (PPoS) that does not require participants to solve complex puzzles to validate blocks.

The protocol allows Algorand to address the scalability issues of blockchain and process numerous transactions at a time without incurring high transaction fees.

Scaramucci explains why Skybridge just launched a $100 million fund to invest in the altcoin project.

“The Skybridge research department thinks that Algorand actually has the opportunity to potentially flip Ethereum: it’s faster, [has] lower transaction charges. It has a net negative carbon footprint.”

Scaramucci compares Algorand to search engine giant, Google, which toppled numerous competitors in the early days of the internet.

“As that community develops, I think we’re sitting on something like Google.

You and I are old enough to remember when Alta Vista and AOL were the leaders at the nascent stages of the internet and they were trumped by Google,

So something like Algorand is something we’re putting a lot of money and resources in.”

At time of writing, Algorand’s native token, ALGO, is trading at $1.87.



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Bitcoin (BTC) $ 27,135.27 0.39%
Ethereum (ETH) $ 1,679.24 0.03%
Litecoin (LTC) $ 66.65 0.20%
Bitcoin Cash (BCH) $ 235.54 0.06%