ALGO (Algorand) as Large-cap Coin is 31 in 2100NEWS ranking. ALGO has Good quality of the order book. The average quality of the order book for large caps members of NWSL100 index is 9.6. What is the true value criterion in the crypto world?
*Among all, the price is always at the forefront. By comparing with the index, we can gauge the price-performance with similar digital assets that are members of the index. Considering an investor’s point of view, peer comparison should be efficient and effective. We present you tokens that are worth keeping in mind when you create a buying list to go into the crypto world.
Algorand has been launched in 22 exchanges. This is a token of the Algorand platform, and its distribution is handled by the Algorand Foundation.
ALGO as Large-cap Coin is 31 in 2100NEWS ranking (after Index Review of 30th August 2019). It is an Index member: NWST1100, NWSL100, NWCo100
2100NEWS DA Orderbook Quality Evaluation Grade: Good, Score: 15.6, (Average for Large caps: 9.6)
Over the past week, the average market cap was 111.9 million $, average daily volume was 53.7 million $.
To make appropriate peers comparison we gauged the ALGO (Algorand) token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the original ALGO price, in the middle of the chart is ALGO vs. NWSL100, at the bottom of the chart are NWSL100 and correlation between ALGO and NWSL100. On average (EMA25 – green area graph), the relationship between ALGO and NWSL100 has remained similar from June for nearly three months, meaning it declined vs. NWSL100. However, the correlation graph gives us an explanation that ALGO was moving in the same direction as the NWSL100 (positive correlation). So, ALGO has been a good representative of the NWSL100 index.
According to Etherscan, there are 51 token holders (at the time of this article’s writing). In August 2019, they launched 200 Million Algo Staking Reward Program.
A primary focus for Algorand is expanding the breadth and depth of possible transaction classes through advanced financial instruments on the blockchain. Algorand has become a member of the International Swaps and Derivatives Association (ISDA). They are working with financial institutions to develop smart derivatives contracts that are in line with ISDA standards. On their pages you will find a lot of educational topics related to their services. They invest heavily in communications with the community. They have their own website for the community: https://community.algorand.org/.
About Algorand – what they do
Algorand is an open-source software company building technical innovation for the borderless economy with a platform that delivers decentralization, scalability and security. Algorand’s first-of-its-kind, permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality needed by users to build opportunity and fulfill the promise of blockchain technology. Their consensus model creates full transparency, protection, and speed within a truly decentralized network. With blocks finalized in seconds, Algorand’s transaction throughput is on par with large payment and financial networks. And Algorand is the first blockchain to provide immediate transaction finality. No forking. No uncertainty.
Algorand is based in Boston, Massachusetts, USA. It is founded by cryptography pioneer, Turing award winner and MIT professor, Silvio Micali. The team of Algorand consists of international researchers, mathematicians, cryptographers and economists. The members of the executive team are: Silvio Micali (Founder), Steve Kokinos (CEO) and W. Sean Ford (COO).
The Algorand Foundation Ltd is incorporated in the Republic of Singapore.
Exchanges: BHEX,Bibox, BiKi, Bilaxy, Binance, BitMart, BitMax, Bit-Z, Coinall, Coinbase Pro, CoinBene, CoinEx, Gate.io, Hoo, Hotbit, Huobi Global, Huobi Korea, KuCoin, MXC, OKEx, Vebitcoin and WazirX.
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The Crypto Highlights are considered the opinion of 2100News and the material is for informational purposes only and 2100News is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell a security nor is it to be construed as investment advice. At the time of this article’s writing, the author did not hold any tokens ALGO.