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PricesAlgorand

Algorand News

Algorand is a proof-of-stake blockchain designed to run smart contracts and dapps.
  • Algorand is one of many up-and-coming proof-of-stake blockchain networks. Image: Shutterstock

    Algorand Hits New All-Time Low Amid Market Downturn

    Alrogrand (ALGO) made a new all-time low yesterday of $0.09, per CoinGecko data, amid a broad bearish move in the market. Alrogrand is a proof-of-stake based layer-1 blockchain launched in June 2019. The ALGO price was looking to establish support above the $0.11 since June’s breakdown. However, yesterday’s market slump dragged the token’s price to a new all-time low of $0.0905 yesterday. The token is now trading hands at $0.957, per CoinGecko. The blockchain was previously regarded as “great t...

    NewsCoins
    2 min read
    Nivesh Rustgi
  • Images: Shutterstock

    Algorand and Flow Crash to All-Time Lows Following SEC Lawsuits

    Although the SEC took official action against the world's two largest exchanges, it also chose to name a number of cryptocurrencies that it describes as unregistered securities, triggering a drop across many altcoins. Two of them—Algorand (ALGO) and Flow (FLOW)—fell to all-time lows over the weekend. Their inclusion in the SEC's actions has called their regulatory status into question, along with many of crypto’s leading altcoins, like Polygon (MATIC), Solana (SOL), and Cardano (ADA), which have...

    NewsCoins
    5 min read
    André Beganski
  • SEC Chair Gary Gensler and Kim Kardashian. Photos: SEC and Shutterstock

    Did Gary Gensler Pull a Kim Kardashian by 'Shilling' Algorand?

    Crypto Twitter honed in on the connection between SEC Chairman Gary Gensler and Algorand on Monday, after the agency filed a lawsuit against the cryptocurrency exchange Bittrex—claiming several tokens are securities simultaneously. Algorand was one of six tokens named in the lawsuit as alleged examples of “crypto asset securities” available to customers on Bittrex’s platform. They are an essential part of the agency’s claims—proof that Bittrex supposedly operated as an unregistered exchange, bro...

    NewsBusiness
    4 min read
    André Beganski
  • Algorand is one of many up-and-coming proof-of-stake blockchain networks. Image: Shutterstock

    SEC Labels Algorand and Five Other Tokens as Securities in Bittrex Lawsuit

    The Securities and Exchange Commission (SEC) categorized six cryptocurrencies as securities in its lawsuit against crypto exchange Bittrex on Monday, highlighting them as potentially pivotal assets in an enforcement action against the Seattle-based firm. The crux of the SEC’s complaint against Bittrex is that the platform failed to register with the watchdog as an exchange, broker-dealer, or clearing agency—a requirement for offering securities to customers in a manner regulated by the Securitie...

    NewsBusiness
    5 min read
    André Beganski
  • Image: Towfiqu Barbhuiya on Unsplash.

    Algorand Wallet MyAlgo Urges Users to Withdraw Funds After $9.2M Exploit

    Algorand-centric wallet MyAlgo told users they “strongly advise” withdrawing any funds from mnemonic wallets that were stored in MyAlgo, following reports of an attack worth just under $9.2 million. MyAlgo did not release the estimated figures involved in the attack, but blockchain sleuth ZachXBT said it is suspected that over $9.2 million was stolen between February 19 and February 21, citing data from blockchain intelligence platform TRM Labs. The service confirmed that it experienced an attac...

    NewsTechnology
    2 min read
    Will McCurdy
  • Napster. Image: Shutterstock

    Napster Acquires Mint Songs to Advance Its Web3 Ambitions

    The streaming music incarnation of the storied Napster brand is taking its next step into Web3 with the acquisition of startup Mint Songs. Napster originally announced its move into blockchain last June with a plan to launch a token using the Algorand blockchain. Today, Napster says the Mint Songs acquisition will be the foundation for the company’s first Web3 offerings. Mint Songs co-founder and CTO Garrett Hughes will join Napster as an advisor. “As we looked for a partner that could take what...

    NewsNFTs
    4 min read
    Jason Nelson
  • Alongside various commercial banks, Australia's central bank is also eyeing a CBDC launch. Image: Shutterstock.

    National Australia Bank to Launch Stablecoin on Ethereum, Algorand: Report

    National Australia Bank (NAB) will become the second of the country’s major financial institutions to launch a stablecoin, a top executive told the Australian Financial Review (AFR). The coin, dubbed AUDN, will launch on the Ethereum and Algorand blockchains later this year. Howard Silby, NAB’s chief innovation officer, told AFR the stablecoin would allow customers to settle transactions on the blockchain in real-time, using Australian dollars. Australia Unveils Plans for Crypto Regulations Unli...

    NewsBusiness
    2 min read
    Alys Key
  • FIFA. Image: Shutterstock

    FIFA Launches NFT Platform on Algorand in Run-Up to World Cup

    With the 2022 World Cup just months away, FIFA, soccer’s global governing body, has announced it will launch an NFT platform for soccer-themed digital collectibles.  The platform, FIFA+ Collect, is set to launch later this month, and will feature “affordable, inclusive, and accessible” NFTs that depict notable soccer moments, art, and imagery, according to FIFA. As the World Cup—set to take place in Qatar in late November—unfolds, moments from the marquee global soccer tournament may also be con...

    NewsNFTs
    2 min read
    Sander Lutz
  • Rendering of Algorand in New York's Times Square. Image: Algorand Foundation.

    Algorand CEO Steps Down to Pursue ‘Other Interests’

    Algorand CEO Steven Kokinos has resigned to pursue “other interests,” but plans to continue as a senior adviser until mid-2023. Kokinos is leaving Algorand the company, but not Algorand the blockchain. Early Wednesday morning, Kokinos shared in a statement that he’ll be moving on to “focus on key projects in the Algorand ecosystem that will help scale adoption.”  Kokinos didn’t specify which projects, and he hasn’t yet responded to Decrypt’s request for comment. Today I want to share with the #...

    NewsBusiness
    2 min read
    Kate Irwin
  • Algorand x Envision Racing NFT. Image: Algorand

    Algorand’s Formula E NFTs Are Tackling Climate Change Head-On

    Blockchain platform Algorand has teamed up with Envision Racing for a series of NFTs to tie in with the ABB FIA Formula E electric race series. Each of the 1,000 limited-edition NFTs, designed by 3D artist Adam Spizak and creative agency Funday, depicts a helmet representing one of the eight locations hosting an ABB FIA Formula E race. "For us, nothing tells the story of a driver’s journey quite like their helmet," Matty Schwartz, Creative Director at Funday, told Decrypt. Schwartz explained ho...

  • Napster. Image: Shutterstock

    Music Streaming Company Napster To Launch Its Own Token On Algorand

    Veteran music streaming app Napster is making moves into the Web3 space, with the announcement of a planned $NAPSTER token launch on Algorand. The company has released a litepaper outlining its plans to build out its existing music streaming ecosystem on the layer-1 blockchain, though a launch date has yet to be announced. “Napster will unlock all the opportunities of Web3 for fans, rights holders and music makers,” the litepaper reads. It added that the Algorand blockchain is “the only carbon-n...

    NewsBusiness
    3 min read
    Sujith Somraaj
  • Bitstamp is a cryptocurrency exchange headquartered in the UK. Image: Shutterstock

    Crypto Exchange Bitstamp Launches Earn Product for Ethereum, Algorand in US

    As the company continues its push into the U.S. market, Luxembourg-based Bitstamp is set to introduce its Bitstamp Earn product to American investors. The product, which is already available to Bitstamp’s non-U.S. customers, is meant to be a turn-key Ethereum (ETH) and Algorand (ALGO) staking solution. Investors fund their Bistamp accounts and then collect staking rewards. For its part, Bitstamp takes a fee on the yield customers earn. Very importantly, U.S. CEO Bobby Zagotta told Decrypt, that...

    NewsBusiness
    2 min read
    Stacy Elliott
  • Image: Shutterstock

    Universal Music Group to Release NFTs on LimeWire’s Algorand Marketplace

    Digital music sharing services are coming back… in Web3 form. Just days after news broke that Napster will return in the form of an NFT marketplace on Algorand, LimeWire—which announced its own Algorand-based marketplace in March—announced today that it has signed major label Universal Music Group to its platform. The global deal will let artists signed to Universal Music Group and its myriad imprint labels release tokenized digital collectibles via the upcoming LimeWire marketplace. Universal’s...

    NewsNFTs
    3 min read
    Andrew Hayward
  • Algorand strikes a deal with Drone Racing League. Image: Algorand

    Drone Racing League Finds High-Flying Crypto Partner in Algorand

    The Drone Racing League sees competitors pilot custom-built quadcopters through courses at up to 120 miles per hour, all viewed in first-person using VR-like goggles. Founded in 2015, the DRL is a tech-forward league with rising viewership, and now it plans to expand its fan experience and interactions through a deal with blockchain network Algorand. Today, the companies announced a five-year alliance that will see the league adopt Algorand’s blockchain in various ways. Algorand also picks up ti...

    NewsBusiness
    3 min read
    Andrew Hayward
  • Algorand is one of many up-and-coming proof-of-stake blockchain networks. Image: Shutterstock

    Algorand Price Doubles in Two Days as Ethereum Rivals Ascend

    There’s no shortage of smart contract blockchains aiming to knock Ethereum off of its pedestal as the leading network for dapps, DeFi, and NFTs. Algorand is one of them, and now its native ALGO cryptocurrency is in the midst of an almost Solana-like price surge. ALGO reached a high of $2.44 per coin today, according to CoinGecko—a rapid increase from the $1.20 price point seen on Tuesday during a market-wide morning flash crash. Currently, the price is slightly off that mark at $2.30 per coin. A...

    NewsMarkets
    4 min read
    Andrew Hayward
  • Exodus crypto and Bitcoin wallet. Image: Shutterstock

    Bitcoin Wallet Exodus to Tokenize $75 Million in Company Stock on Algorand

    Bitcoin wallet firm Exodus earlier this year sold $75 million in common stock in the company, purchasable only through its wallet. The sale was notable for the company's decision to only accept Bitcoin, Ethereum, and USDC stablecoin for the shares. Exodus touted the SEC-approved share sale as the largest "regulated crypto public offering” ever. Soon, Exodus says, it will transform those sold shares into tokens on the Algorand blockchain, where they can be claimed by shareholders using the Exodus...

    NewsTechnology
    2 min read
    Jeff Benson
  • Building on Crypto, Bitcoin and Ethereum. Image: Shutterstock

    Crypto Startup Reach Raises $12 Million to Build on Ethereum, Algorand

    Reach, a blockchain development platform designed to simplify the creation of decentralized apps (dapps), announced today that it has raised $12 million in funding to expand its offerings and launch a commercial version of the toolkit. The platform currently supports the development of dapps for both Ethereum and Algorand, although Reach’s announcement suggests a “growing pool of partner protocols.” Reach likens its platform to the launch of Apple’s iOS platform for mobile apps, suggesting that...

    NewsBusiness
    2 min read
    Andrew Hayward
  • Algorand logo. Image: Grant Kempster/Decrypt

    What is Algorand? A Speedy, Scalable Platform for Dapps

    Most modern blockchain-based networks attempt to achieve scalability, security, and decentralization in somewhat equal measure. However, few platforms today can be considered truly well-rounded, and most sacrifice on one or more of these fronts—whether that means forfeiting decentralization for additional scalability, scalability for security, or otherwise. This blockchain trilemma remains a major sticking point for blockchains today—and a number of projects have tried to resolve it. Algorand, a...

  • Balancer's move could shift markets. Image: Shutterstock

    Balancer to Appear Outside Ethereum, Could Become Algorand's Uniswap

    Balancer, one of the largest decentralized exchanges built on Ethereum, is coming to Algorand. It’s yet another example of a large DeFi project expanding beyond Ethereum to one of the Ethereum blockchain’s rivals. According to a press release, Balancer "will be the first automated market maker (AMM) available for use by the Algorand community.” In doing so, it beats out larger rival AMMs Uniswap and SushiSwap. The team behind Reach, a language for building decentralized apps on Algorand, will bu...

    NewsTechnology
    3 min read
    Jeff Benson
  • Cryptocurrency project advisor wins Nobel. Image: Shutterstock

    An Advisor to a Cryptocurrency Project Just Won a Nobel Prize

    Algorand, a proof-of-stake blockchain platform founded by zero-knowledge proof inventor Silvio Micali, boasts a team of advisors that includes MIT economics researchers, game theory experts, several Turing Award winners, and AngelList co-founder Naval Ravikant.  Now, it can add a Nobel Laureate to the mix. Today, the Royal Swedish Academy of Sciences awarded the Nobel Prize in Economic Sciences to Algorand advisor Paul Milgrom. Together with his Stanford colleague and co-awardee Robert Wilson, M...

    NewsTechnology
    2 min read
    Jeff Benson
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