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News Explorer — Algorand Falls to All-Time Low Price

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Aug 18, 10:58 am

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Algorand Falls to All-Time Low Price

Alrogrand (ALGO) hit a new all-time low of $0.09 Thursday amid a market-wide bearish trend. The token, launched in 2019, was previously praised by SEC Chairman Gary Gensler, but has recently faced a downturn due to its involvement in high-profile lawsuits. The SEC claimed ALGO was a security in charges against Bittrex and mentioned it in lawsuits against Binance. Bitcoin also experienced a flash crash below $26,000 after Evergrande's bankruptcy filing, leading to significant liquidations in the futures market.

Alrogrand (ALGO) hit a new all-time low of $0.09 Thursday amid a market-wide bearish trend. The token, launched in 2019, was previously praised by SEC Chairman Gary Gensler, but has recently faced a downturn due to its involvement in high-profile lawsuits. The SEC claimed ALGO was a security in charges against Bittrex and mentioned it in lawsuits against Binance. Bitcoin also experienced a flash crash below $26,000 after Evergrande's bankruptcy filing, leading to significant liquidations in the futures market.

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