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Algorand

ALGOUSDT (Algorand) - Coin of the WeekAlgorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is designed so that there are lower transaction fees, as well as no mining (like Bitcoin's energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol. Blockchain platform Algorand has announced on 29th of September the launch of the Algorand Virtual Machine, or AVM, a layer-1 protocol upgrade designed to enhance decentralized app scalability for developers and organizations, enable instant transaction finality and sustain a negative carbon output. In addition to these advancements, the AVM will also give developers program tools to write smart contracts in Python or Reach, a format similar to the multi-paradigm web page language Javascript. Technically, Algorand is in a correction from the 13th of September that is preparing the next move to the upside. The higher probability move in our opinion is a breakout to the upside, although a retest of the support area is not totally out of the books. If the price moves higher the next area to watch for the market structure is the resistance zone at 2.06 USDT. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by financialflagship
12
ALGO on the way to new ATHALGO digital currency is in a good uptrend which can make a +50% profit! Due to the break of the mid-term downtrend line that it has been dealing with since early September, in yesterday's rally, it was able to break it up and complete its pull-back on it. You can now buy with a medium-term vision to reach a new price ATH. In 1st Step TP, you can save some of the profit in the range of $ 2 to $ 2.2, and after passing through the trading zone (Shows in the chart), you can reach the previous ATH in the range of $ 2.4 - $ 2.5. This digital currency is one of the high potential currencies in the last quarter of 2021.
Long
by SasanSeifi
Algo cupIt is very, very beautiful. All the coins were formed in cups and handles. It is very interesting Algorand smart contracts are getting a performance boost. On Wednesday, the company behind the proof-of-stake blockchain released a back-end upgrade to increase the computing power of Algorand-based applications. Algorand Virtual Machine (AVM) will also make it easier for newcomers to develop programs atop the chain. AVM brings Algorand smart contract development “closer to the mental model” developers on other blockchains are used to, Chief Product Officer Paul Riegel told CoinDesk. The Ethereum Virtual Machine (EVM) is widely used, with EVM-compatibility being a key way for new networks like Avalanche and others to gain steam.Getting more developers running faster code could be key for Algorand’s growth in the bustling decentralized finance (DeFi) landscape. It is the 29th-largest blockchain by total value locked, according to DeFi Llama, well behind Ethereum, Solana and Tron. Read more: Algorand Foundation Launches $300M DeFi Innovation Fund Riegel said AVM simplifies smart contracts’ treatment of escrow payments, their ability to send transactions and their handling of slippage in trades. It also improves on the complex math underpinning “complex DeFi applications,” he said, such as the authentication procedures protecting cross-chain mechanisms, or bridges. One developer is building a bridge with 14 signature verifications, he said. (Riegel noted that 14 cross-checks is “pretty out on the tail” of what’s normal, and as such would require uncommonly high computing power). “We can support those kinds of things now,” he said. Algorand supported some of those things before – in a far more piecemeal manner. AVM makes it simpler to join those previously disparate bits together, according to Riegel. The self-imposed guardrails regulating how much computing power Algorand smart contracts can call are also getting a 16-fold raise. Riegel said the boost does not impact overall performance on the chain, which can process 1,000 transactions a second. Coming rollouts will further juice performance 10- to 40-fold “at a minimum,” he said.
Long
by ttcompanyy
Bullish Stance on ALGO (Algorand)Despite all the China FUD, ALGO or Algorand has held up pretty strong. Bullish Indicators in favor of ALGO: Volume Contraction Pattern MACD Positive (despite the recent crypto sell off) 50 DAY EMA as support Relative Strength vs the entire crypto market Stochs at Oversold levels Strategy: Buy below $2.00 Cut price $1.40 There might be more upcoming consolidation but ALGO looks really good for the long side This is my favorite cryptocurrency as of the moment as the market looks to bounce from its recent slump. Good luck!
COINBASE:ALGOUSDLong
by kevvela
1