 | Algorand has had a particularly hard bear market. First mass inflation lowered the relative value of all other Algo in circulation, the Algo Foundation selling on holders to promote "marketing", leadership changes within Algorand, and tons of controversy within the Foundation itself. Then concerns about being labelled a security by the SEC. With everything that has happened, Algorand just hit a new bear market low at $.1595. The prior low was $.1607 which occurred during the fall out of the FTX collapse. While many Crypto assets like BTC +72%, ETH +55%, ADA +45% have made gains since then the FTX Collapse, Algorand just found a new bottom. If Algo is destined to slowly bleed out, or if it can reach a new ATH in the next bull is up for debate. For now Algorand is continuing it's drop into apparent irrelevancy. [link] [comments] |
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