Cryptocurrency Algorand Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Algorand's (CRYPTO: ALGO) price has decreased by 3.78% over the past 24 hours to $0.10, contrary to its performance over the past week where it experienced an up-trend of 2.0%. The trading volume for the coin has risen 36.0% over the past week, while the circulating supply has decreased 0.04% to 7.83 billion, making up an estimated 78.3% of its max supply of 10.00 billion. The current market cap ranking for ALGO is #48 at $771.16 million.
September 25, 2023 | 7:01 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Algorand's price has decreased by 3.78% over the past 24 hours, despite a weekly uptrend of 2.0%. The trading volume has risen 36.0% over the past week, while the circulating supply has decreased 0.04%.
The decrease in Algorand's price over the past 24 hours, despite a weekly uptrend, indicates a potential short-term bearish trend. The increase in trading volume coupled with a decrease in circulating supply could suggest a higher demand, but it has not been enough to prevent the price drop. This could impact the short-term price direction negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100