Algorand

Get Algorand (ALGO) all time high price, historical charts, latest news and other information.

Renowned Wall Street veteran Matt Zhang has reportedly launched a $1.5 billion venture capital (VC) firm named Hivemind Capital Partners, per Bloomberg reports. The VC was launched to help crypto-based startups, as well as blockchain projects who are invested in building the infrastructure of the crypto industry.
Hivemind Focused On Building Crypto Infrastructure
While announcing Hivemind earlier today, former Citi executive Matt Zhang discloses that the underlying strategy will be to use part of the funds to encourage crypto-based startups. Not only that, but it will also prioritize projects whose focus is on improving crypto infrastructure and building virtual worlds. Lastly, Zhang says the remaining part of the fund will also be used in trading digital assets.
Meanwhile, as part of the efforts towards achieving the primary aims and objectives of Hivemind, the VC has collaborated with Algorand — a proof-of-stake (PoS) protocol. Algorand is a big deal of a blockchain project. Ranking in number 21, its native ALGO token is valued at over $11.3 billion in total market capitalization, per Coinmarketcap data.
Venture Capital on The Rise
Meanwhile, something noteworthy in the crypto industry this year, is that venture capital has been high on the rise, with promising startups seeing funds to the tune of billions of dollars.
And with this $1.5 billion raised, Zhang’s Hivemind joins the league of dozens of other unicorns — a term used to describe startups with a valuation of over a billion dollars. Recall that Coingape earlier reported about Silicon Valley venture firm Andreessen Horowitz launching a $2.2 billion crypto fund in June, which was the largest ever as at that time. However, investment firm Paradigm, surpassed the June funding when it announced its own $2.5 billion funds in November.
One thing is for sure, and as Zhang claims, blockchain technology gained with its collaboration with Algorand, will go a long way in providing entrepreneurs in the crypto business, with infrastructure support that is not presently available.
The post Hivemind Launches $1.5 Billion Venture Fund, Partners With Algorand appeared first on Coingape.


Renowned Wall Street veteran Matt Zhang has reportedly launched a $1.5 billion venture capital (VC) firm named Hivemind Capital Partners, per Bloomberg reports. The VC was launched to help crypto-based startups, as well as blockchain projects who are invested in building the infrastructure of the...

coingape.com

Hivemind Launches $1.5 Billion Venture Fund, Partners With Algorand

  While Algorand (ALGO) has been falling since reaching a new all-time high price, it is still holding on above the previous all-time high area. 
Its reclaim is a very positive development that could lead to another increase. However, ALGO seems to be nearing the top of its long-term upward movement.
New all-time high
ALGO has been moving upwards since breaking out from a descending wedge on Aug 8 (green icon). The breakout indicated that the previous decrease had ended, a new bullish trend began.
The upward movement led to a new all-time high price of $2.55 on Sept 13. While the token has been moving downwards since, the price action is not bearish. 
The main reason for this is the deviation below the $1.77 area (red circle) and its subsequent reclaim. Such deviations are often followed by a significant movement in the other direction. Therefore, if ALGO manages to hold on above this area, it would be expected to move upwards. 
Technical indicators support this possibility, though they provide some ambiguity in their readings.
The MACD, which is created by a combination of short- and long-term moving averages (MA) is falling. This means that the rate of increase of the short-term trend is slower than the long-term one. 
The RSI, which is a momentum indicator, has moved above 50 once more. This is a sign that momentum is higher than average, and often precedes upward movements. The most recent RSI move above 50 transpired on Aug 10, preceding the entire upward movement towards the all-time high.
Chart By TradingView
ALGO wave count
Cryptocurrency trader @Altstreetbet outlined an ALGO chart, stating that the token will complete one final upward movement towards a new all-time high before falling.
Source: Twitter
The wave count indicates that ALGO is in wave five of a bullish impulse. Bullish impulses are trends that are created by three upward movements and two corrective decreases. Therefore, ALGO is in the final portion of its bullish trend. 
Furthermore, the all-time high was reached at a confluence of Fib retracement levels, which often acts as the high, since wave length are usually related to each other.
The high was made at the 1:1 length of waves 1-3 (white). This means that the length of wave five was the same as the length of wave 1 and three combined. Furthermore, it also coincided with the 1.61 external Fib retracement level of wave four (black). 
If the movement extends, the next resistance would be at $3.50, at the 1.61 length of waves 1-3. This would mean that wave five is 1.61 times longer than waves one and three combined.
Chart By TradingView


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  The post After All-Time High, Algorand (ALGO) Attempts To Initiate Another Upward Move appeared first on BeInCrypto.


While Algorand (ALGO) has been falling since reaching a new all-time high price, it is still holding on above the previous all-time high area. 
The post After All-Time High, Algorand (ALGO) Attempts To Initiate Another Upward Move appeared first on BeInCrypto.


beincrypto.com

After All-Time High, Algorand (ALGO) Attempts To Initiate Another Upward Move

The Algorand proof-of-stake [PoS] blockchain platform recently launched its Algorand Virtual Machine, which quickly draws new money into the ecosystem. Let’s analyze the ALGOUSDT chart following a top-down approach, starting from the daily time frame, and wrapping it up on the 4HR time frame.
Algorand (ALGO) Daily Chart Analysis

A bullish campaign started on the daily time frame of the ALGOUSDT upon entering the RSI overbought area [level-75], indicated by the green label of the on-chart RSI indicator. The bulls continued to scale into their buy position as the RSI continued to hover above the level-25 and finally dipped below level-25 on 21 Sep ’21.
Although the RSI dip below the level-25 may send a bearish outlook towards the pair, the recent price close above bearish inside bar resistance and bullish divergence on 21 Sep ’21 hint that the bulls are still lurking around the corner.
An entry of the RSI above the level-75 would confirm a bullish comeback as the ALGOUSDT exchange rate break above the bearish divergence trend line.
Algorand (ALGO) 4HR Chart Analysis

Coming down to the 4HR time frame, ALGOUSDT plunged into a downtrend after a collapse of bullish inside bar support [2.3242] on 12 September ’21 at 16:00, setting new resistance on the bearish engulfing candlestick pattern [2.5574].
As old short sellers take profit off the table and join new bulls, the ALGOUSDT signaled its first regular bullish divergence on 21 Sep ’21 at 20:00.

Bullish/Bearish Scenario

We observe a buildup of demand for the ALGO token, following the recent announcement of the Algorand virtual machine on 29 September ’21.

A bullish divergence on 28 September 20:00 serves as a trigger confirming that the AVM news is a positive one for the PoS Altcoin.
In addition to the bullish divergence, the price breach of the bearish divergence trend line also shows massive demand brewing for the ALGO token.
Conversely, a price slump below the 1.5211 support is possible, a black swan event that could signal a takeover by bears across the crypto market.

Algorand (ALGO) Intraday Levels

Spot rate: 1.7445
Mid–Term Trend [H4]: Uptrend Starts
Volatility: Low
Support: $1.5211 and $1.5529
Resistance: $1.7707, $1.8570, and $2.3242

The post ALGO Price Analysis: Bulls Gearing Up For A Rally to New ATH appeared first on Coingape.


The Algorand proof-of-stake [PoS] blockchain platform recently launched its Algorand Virtual Machine, which quickly draws new money into the ecosystem. Let’s analyze the ALGOUSDT chart following a top-down approach, starting from the daily time frame, and wrapping it up on the 4HR time frame. Alg...

ALGO Price Analysis: Bulls Gearing Up For A Rally to New ATH

  
After an announcement by SkyBridge Capital CEO, Anthony Scaramucci, regarding the filing of the Algorand fund, the Algorand cryptocurrency climbed to a new 27-month-high of $2.20



Algorand sees correction after yearly high



Algorand has dropped 22% from weekly highs to $2.00, pressuring buyers who bought ALGO at above $2.00, as their positions slowly migrate more and more into the red. If bearish pressure continues, we could see a correction to under $1.86. ALGO hit $2.49 on September 9, up 630% year-to-date. It traded at its highest point in June 2019, surpassing $3.



An announcement by SkyBridge Capital CEO at the Skybridge Alternatives (SALT) conference in New York this week, stated that they have submitted an application for a new exchange-traded fund with the U.S. SEC, called the Crypto Industry and Digital Economy ETF. SkyBridge Capital is an alternative investments firm specializing in hedge fund products and hedge fund advisory solutions. It has over $700M dollars in crypto assets.



US SEC ETF Backlog



Confidence in the SEC’s ability to handle Exchange Traded Funds was declining as of July 7, 2021, as far as crypto insiders and fund managers were concerned, as many ETF filings were (and are still) delayed, involving Bitcoin, Ethereum and Decentralized Finance. These ETF applications were made by VanEck, WisdomTree, Goldman Sachs, and several others. Recently, Fidelity Investments made a case for their Bitcoin ETF in front of the SEC. SEC Chairman Gary Gensler has indicated in the past that his primary concern is to protect investors, which is why a Bitcoin ETF has not yet been seen in the United States as it has been in Europe and Canada. Gensler suggested that he may be open to a Bitcoin ETF if it complied with the strictest rules for mutual funds or if they were based on Bitcoin futures.



What is Algorand?



Algorand is a blockchain that was designed to speed up transaction processing, and shorten the time it takes for completing transactions. The transaction throughput is on par with large financial and payment networks. The consensus mechanism for the Algorand blockchain is permissionless and pure proof of stake, and is a truly decentralized network.
  The post ALGO Enjoys 27-Month High as Skybridge Capital Announces $100M Fund appeared first on BeInCrypto.


SkyBridge Capital CEO, Anthony Scaramucci, has announced a new $100M Algorand Fund as the crypto reaches new yearly highs.
The post ALGO Enjoys 27-Month High as Skybridge Capital Announces $100M Fund appeared first on BeInCrypto.


ALGO Enjoys 27-Month High as Skybridge Capital Announces $100M Fund

  
Algorand will take over title rights for the Drone Racing League starring with its upcoming season. 



The Drone Racing League has inked its biggest sponsorship deal to date with cryptocurrency platform Algorand. According to a press release from the league, the deal is worth $100 million over the next five years. The exact terms of the deal were not shared. The announcement does state that over the course of the next five years, Algorand will earn title rights to the Drone Racing League World Championship tournament. The league will also integrate into the blockchain network and utilize Algorand to broadcast events and showcase social media and streaming channels. 



CEO of Algorand, Steve Kokinos said about the pairing that “Algorand and the Drone Racing League are the most technically advanced, disruptive and visionary organizations in blockchain and sports respectively. We are excited that DRL will leverage Algorand’s technology to create immersive in-game experiences and introduce millions of technology enthusiasts to the possibilities that blockchain can bring to racing and to sports as we know them today.”



Drone Racing expanding its fan base



For those new to Drone Racing, the league pits drone pilots against one another who race through technical courses for cash and prizes. The league says that bringing blockchain tech to drone racing is “a bullseye for the league’s ‘tech-setter’ fans, who are early adopters, open-minded to new forms of entertainment, and 40 times more likely to follow and engage with crypto social media than the general population.”



In the official announcement, Drone Racing League President Rachel Jacobson said that “Algorand shares our values of speed, innovation, and inclusivity. As the largest partnership in DRL’s history, we have ambitious plans to deliver a unique sports experience in the metaverse. We are incredibly excited about how this partnership will change the game for sports and tech fans and the blockchain community around the world.” 



The next big event for the league is the 2021-22 World Championship Season, combining eSports and real-world drone racing into a single event. Locations for races include Minnesota and Memphis, along with virtual courses live in the U.S. Air Force Boneyard. The Drone Racing League Season launches on September 29 and can be viewed live on Twitter. 
  The post Drone Racing League Signs $100M Deal With Algorand appeared first on BeInCrypto.


Algorand will take over title rights for the Drone Racing League starring with its upcoming season. 
The post Drone Racing League Signs $100M Deal With Algorand appeared first on BeInCrypto.


Algorand price	$1.78
Low - High 24H	$1.70 - $1.82
Market cap	$11.19B
Volume 24H	$391.50M
All time high	$3.56 -49.97% June 20th 2019
All time low	$0.105336 1591.29% March 13th 2020
Genesis date	N/A

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