While we are witnessing a massive correction in the price of digital currencies these days, one of the market coins has experienced a 100% growth in the past week.
to the Report The Daily Hoodle, the digital currency of the Algorand network, a Blockchain for DeFi-enabled applications, was previously trading at $ 1.51, and like other digital currencies in the market during last week’s crash, The price fell to $ 1.20 by mid-Tuesday.
But the market’s 17th currency, after reaching this price level, experienced 100% growth on Thursday and reached its weekly peak at $ 2.41. Algrand is currently trading at around $ 2.17.
It is unknown at this time what he will do after leaving the post. The project announced the release of the next version of its asset management platform on Thursday, however most of the price increase comes before the announcement.
Perhaps one of the possible reasons for Algrand’s price increase was the remarks made Tuesday by Anthony Scaramucci, founder of SkyBridge Capital. In an interview with CNBC, he said that Algrand digital currency has a good chance of rising in price due to its applications.
The former Donald Trump administration official says:
Big things are happening in this space. With the further development of digital applications, some altcoins such as Algrand, Cardano or digital currencies such as Ethereum will continue to grow, as there are many uses for them.