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Tag: Algorand

  • Algorand (ALGO) gets a new update

    The Algorand blockchain has gotten a significant specialized update that will empower engineers to rapidly make complex decentralized applications (dapps) in view of its organization and work with cross-chain interoperability.

    Smart contract-to-contract calling is presently accessible, permitting applications to draw in with other smart agreement-based merchandise in a more productive and secure way. A brilliant agreement technique called “calling” returns the hash of the exchange that will be mined into the blockchain. Anybody, without warning, for any reason, can do such capacities.

    Beforehand, the best way to call smart contracts on Algorand was for an engineer to physically store information in each agreement’s nearby state, which was a tedious and convoluted activity. This new element, which was presented on Thursday, permits a contract to call another contract straightforwardly. The declaration comes after the Algorand Foundation reported a $20 million motivation program pointed toward further developing designer tooling and similarity with the Ethereum Virtual Machine (EVM). This is a virtual PC that can be gotten to from any place on the planet because of Ethereum hubs.

    “Lately, Algorand’s shrewd agreement stage has changed as far as power and composability,” said Paul Riegle, the organization’s central item official. “Engineers are making versatile decentralized applications that have disturbed and will keep on upsetting a wide scope of businesses,” as indicated by the report.

    The expansion of Falcon Keys is a critical part of the update. These keys will be utilized to develop State Proofs, a new blockchain foundation that will permit Algorand to be confided in low-power settings like cell phones and smartwatches, as well as on other blockchains, sooner rather than later.

    In a tweet Algorand (ALGO) said:

    Algorand continues to deliver the technology required to power applications & solutions of the future with the latest protocol release hitting MainNet today

    Contract-to-contract calls enable development teams to build much more powerful and versatile #dapps on Algorand by allowing one smart contract to call another.

    Developers are now outfitted with tech required for serious & sophisticated apps: #AVM (Algorand Virtual Machine) has an ABI and full support in SDKs for apps to create or invoke other contracts on the network.

    Interoperability is core to Algorand’s tech roadmap: this release marks the 1st milestone (with the availability of Falcon Keys) on a path towards State Proofs, a new infrastructure that connects Algorand to the broader world.

    These features have been available on Betanet for the last few weeks and have received positive feedback from the community of builders already leveraging this new functionality

    Algorand has a dedicated product and engineering team working with the growing community of applications, tools, and services that are building out in the Algorand ecosystem

  • Where is Algorand (ALGO) moving Now?

    At the time of writing this article, ALGO, the utility token of Algorand, has a value of $1.95 (7.54% increase today) with a trading volume of $741,396,537 with an increase of about 61.83% over the past 24 hours. It has been of the top gainers today among the top 100 cryptocurrencies.

    ALGO is listed on coinmarketcap in 21st place. It has a market dominance of about 0.46%. ALGO had created its all-time high around the price of $3.44 in June 2019.  It later dropped to the price of $0.06 in March 2020 from where it showed reversal. Since then, the coin has been on an upward trajectory but is still far from what its highest price was. It has a circulating supply of about 6.29B. It has a total supply of about 10B.

    Technical Analysis – Algorand (Algo)

    We can see that on the daily time frame, Algo was moving and respecting the trend line. The price broke down to create a fake-out which has eventually led to a highly impulsive move upwards.

    The price of Algo was quick to retrace back and started moving lower. On a smaller time frame, we can notice, how it was respecting the trend line after this as well but eventually broke out of it as well.

    Algo -1D

    A point of notice here is the daily order block that lies below, which started this whole move. The second point to notice is the wick which was long enough to grab the liquidity above. As the price is now starting to print the higher high. It can be expected of it to reach the middle of the wick and mitigate it. Once it happens, additional confirmations on the lower time should be taken into consideration about how the market may behave there.

    If the price becomes stable we can expect Algo to move higher, if it isn’t able to keep up, we can expect the price to drop down and touch the unmitigated daily order block.

    Price Prediction – Algorand (Algo)

    The coin also seems to have a good future. With the amount of potential, it has (since it still hasn’t been able to break its all-time high). It shows that it can go massive in the future. According to the wallet investor, it is expected to reach a value of $2.922 in a year. For five years, the price is expected to reach a value of $7.830.

  • Algorand (ALGO) coin price prediction – To cross $1 soon?

    Algorand (ALGO) has been going downhill since the beginning of May. The cryptocurrency has been struggling with maintaining bullish momentum and eventually succumbed to the bears. As June ended, the cryptocurrency market showed signs of revival but the signs fell short for Algorand as it spiraled downwards once again. At the time of writing, Algorand stands at a price level of $0.86. The price has declined by 5% in the past twenty-four hours while the trading volume has fallen by 8%.

    The market sentiment for Algorand is bearish. Out of the total twenty-six technical indicators, fourteen are standing at a sell position with nine neutral indications and only three signals at buy. The oscillators are neutral while the moving averages are bearish.

    Algorand has been operating with a descending trendline. The trendline has also been acting as resistance for the cryptocurrency. Unless bullish momentum overtakes the market, Algorand is expected to continue downhill with lower price levels as major resistances. The relative strength index can also be observed to be declining.

    The price prediction in the long-term for Algorand is optimistic. Digital Coin Price predicts that the cryptocurrency will end the year at a price level of $1.31 and will be operating at a price level of $3.76 in 2028. Wallet Investor’s predictions are more bullish. Per their estimates, the price after one year would be $1.71 while the five-year price will be $5.22.

    Algorand (ALGO) major developments

    Even though the cryptocurrency is bearish, the development team of Algorand has been active. Algorand has made the official wallet of the network open-source and the codebase is now publicly available. Moreover, there has also been an influx of new projects on the network. A couple of former PayPal employees have launched a cross-border payment network on Algorand.

  • Algorand (ALGO) developments may lead towards .46

    Algorand (ALGO) developments may lead towards $1.46

    Algorand (ALGO) bearish momentum may have been dominated by the bulls as the new month began. ALGO coin had been struggling to gain bullish momentum but right into June, it started gaining traction. At the time of writing, Algorand was trading hands $1.07 apiece. Both the price and the trading volume has been increasing for the cryptocurrency in the past twenty-four hours.

    Algorand (ALGO) Technical Analysis

    The market sentiment continues to be bearish as the uptrend of the ALGO coin is to yet be confirmed. Out of the total technical indicators, ten are suggesting a sell signal while both neutral and buy indications stand at eight each. The oscillators are bearish while the moving averages have yet to confirm either an uptrend or a downtrend.

    Algorand (ALGO) Technical Analysis
    Algorand (ALGO) Technical Analysis

    Algorand broke out of a bearish formation after the market crash. The cryptocurrency has been projecting upwards while breaking resistance levels. The next resistance level lies at a price level of $1.19 followed by $1.23. As the ALGO coin appears to have some upward momentum, the resistance levels have been activated as potential price targets. If the cryptocurrency successfully breaks the price targets, the subsequent targets would lie at $1.43 followed by $1.46. Upcoming price action will prove to be crucial to confirm the trend of the cryptocurrency.

    Algorand developments to watch out for

    The Algorand blockchain has been in the news because of various developments going on in its ecosystem. The positive developments can result in a confirmed uptrend for the cryptocurrency. The crypto wallet Exodus had recently engaged in the largest “regulated crypto public offering” ever to be held – as dubbed by the firm. The firm sold $74 million common shares which are announced to be turned into tokens on the Algorand blockchain.

    Furthermore, Algorand had also been added, along with others, by Revolut for trading on its application. Reach, a platform working towards the simplification of blockchain apps, has managed to raise $12 million in seed funding. Reach currently works with Algorand and Ethereum. The platform will be focusing its efforts on the two blockchains.

  • The Next Stage In Real Estate Tokenization

    With cryptocurrency adoption on the rise, many sectors are vying to hop in on the bandwagon which has led to an increase in opportunities. Caruso Properties– one of the largest real estate firm in the US – has announced the acceptance of rent in the form of Bitcoin.

    The next initiative in the real estate industry has been taken by Vesta Equity to revolutionize real estate tokenization. In a partnership with Algorand block chain, Vesta Equity has launched its real estate tokenization services. Vesta Equity is a global home equity marketplace and it envisions to transform the industry by increasing the value provided to the customers.

    Through the tokenization, the company is aiming to disrupt the market by reducing the intermediaries. The tokenization will allow home owners to convert their equity into digital assets. The tokens will enable home owners to sell a percentage of their home equity in the form of digital assets to accredited investors without any compounding interest.

    Algorand and Vesta Equity, both, have their mission aligned which is to increase the value in the real estate market through the block chain technology and the numerous opportunities it provides. Real estate tokenization is one of the most viable real-world use of the block chain technology. Vesta Equity has taken the first steps towards a proper implementation. This will not only open doors for further implementation of block chain technology in the real estate realm but also in other industries as well.