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16 September 2021

Algorand Price Doubles in Two Days as Ethereum Rivals Ascend - Decrypt

Algorand Price Doubles in Two Days as Ethereum Rivals Ascend - Decrypt


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As of this writing, Algorand is up 98% on the week and 168% over the last 30 days.

It's designed to be a fast, scalable system for decentralized applications and DeFi protocols—the kind that enable users to trade, borrow, and lend crypto assets without third-party intermediaries. At its peak price today, Algorand reached the 12th spot onCoinGecko’s rankingof the largest cryptocurrencies by market cap.

However, there hasn’t been much buzz around NFTs on Algorand yet.

“The Algorand ecosystem has experienced significant growth this year in NFTs, DeFi, and beyond,” Algorand Foundation Head of Marketing Stephen Duignan toldDecryptvia email. 

Duignan said that over $500 million entered the Algorand ecosystem in the first half of the year, including a $100 million fund from Arrington Capital, as well as the Algorand Foundation’s grants program

“As we look ahead, there will be increased adoption of Algorand-based DeFi applications and decentralized governance that will continue this momentum,” he added.

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