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ALGO Gears Bullish Reversal, Eyes DeFi Market Expansion -Breaking


© Reuters. ALGO Gears Bullish reversal. Eyes on DeFi Market Expansion
  • Algorand is being analyzed by analysts (ALGO).
  • ALGO is still in the Top 30 Market Positions.
  • Algorand plans to increase its presence in the DeFi market.

Blockchain network Algorand (ALGO) continues to move aggressively despite the market’s wild swing. With a market capitalization exceeding $6 billion, crypto has managed to hold its price close to $1. The crypto’s impressive performance has caught the eye of traders and analysts around the world.

This made analyst and founder, Dan Gambardello, react in a tweet post,

Gambardello’s tweet spoke about ALGO’s price analysis in the next months. “Algorand may be seeing long term support at the confluence of two macro lower trend lines. Is there a bullish trend reversal? He said.” This analysis gathered different opinions across the Twitter (NYSE:) community. Some discussed the cryptocurrency charting methods, while others just wanted to know when the best time was to invest in crypto.

ALGO recently announced Staci Warden’s appointment as CEO. This appointment takes effect immediately. Staci Warden was previously the Algorand Network CEO. She also worked at JPMorgan (NYSE 🙂 as well as Nasdaq. Staci Warden aims to expand and improve the reach of ALGO throughout the DeFi ecosystem.

ALGO, on the other hand trades at $0.92 per cryptocurrency with a 24 hour growth rate of +4.2%. It has also had an average trading volume exceeding $121 million over the last 24 hours. The crypto has managed to retain its 27th place in the markets thanks to these achievements. This price position for the crypto could change due to its volatility.

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