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Algorand (ALGO) has recently made headlines by breaking above a descending trendline, indicating a possible bullish shift in the cryptocurrency's price action. Following this breakout, the price surged nearly 10% over two days, and investors are now watching closely for further movements.
TL;DR 90% of Algorand (ALGO) holders are at a loss, with the altcoin's value dropping by 52% since March. 18.65 million addresses, representing 90.36% of holders, have registered unrealized losses, while only 9% have maintained positive investments. Whales have sold part of their holdings after a 19.
Algorand (ALGO) holders are facing a tough time. On-chain data show that 90% of them are currently underwater on their investments.
In a follow-up of Tether's decision to stop issuing USDT on Algorand, EOS, Omni, and Kusama, the stablecoin giant revealed a crucial update today, July 11. As a broader approach to facilitate a robust and innovative blockchain ecosystem for USDT and EURT, the firm spotlighted its next steps in discontinuing support for the mentioned stablecoins
The world increasingly turns its attention to the potential of Central Bank Digital Currencies (CBDCs), Sweden's Riksbank is leading the charge by testing two prominent blockchain platforms, Algorand and Hedera, for its e-Krona project. This move marks a significant step in the journey toward a digital economy, aiming to enhance transaction efficiency while minimizing environmental impact.
Algorand (ALGO) has carved out a niche with its robust platform designed for scalability, security, and speed. As we look ahead from 2024 to 2030, the question on investors' minds is whether ALGO can stage a comeback from recent lows and potentially reach new heights in the crypto market.
Blockchain builder Algorand has debuted a tool for decentralized authentication and communication called LiquidAuth. As the company said in a news release Wednesday (June 26), LiquidAuth is an open-source solution for “authenticated peer-to-peer communication between wallets and apps/dApps,” designed to end the “overreliance” on centralized wallet communication provider WalletConnect.
Stablecoin issuer Tether has said it will stop minting the U.S. dollar-pegged USDT token on the Algorand and EOS blockchains. Effective immediately, Tether will no longer issue new USDT tokens on Algorand and EOS.
This integration means that Algorand users can directly deposit and withdraw their USDCa on Coinbase. It eliminates the need for multiple applications and significantly reduces transaction friction.
The Algorand Foundation has introduced LiquidAuth, a new tool to decentralize wallet authentication and communication in crypto.
The company behind the largest USD-pegged stablecoin in terms of market cap has announced a shift in strategy towards community-driven blockchains.
Tether, the company that manages the issuance of USDT, the largest stablecoin of the crypto market, has announced a shift in its focus on providing support to blockchains based on community interest. The company announced it would stop minting USDT tokens in two blockchains, Eos and Algorand, starting June 24.
Tether is stopping USDT minting on Algorand and EOS due to low usage, while continuing redemptions for 12 months and focusing on more popular blockchains.
Tether, one of the main issuers of stablecoin in the world of cryptocurrencies, recently announced the end of minting USDT on the EOS and Algorand platforms. While the news has generated discussions among users and investors, the long-term implications could lead to a more focused and efficient cryptocurrency market.
Tether announced its decision to immediately discontinue support for the EOS and Algorand blockchain implementations of USDT on June 24.
The crypto firm behind the largest USD-pegged stablecoin by market cap says it is shifting focus to community-driven blockchains. According to a new press release from Tether, the firm behind USDT, the company always takes “community interest” into consideration when evaluating a blockchain.
Tether disclosed that redemption of existing USDT tokens would end after the next 12 months.
Tether has announced plans to discontinue USDT support on Algorand and EOS blockchains. The stablecoin issuer disclosed that minting will stop immediately, but the stablecoin will remain redeemable on the network for the next 12 months.
Tether halts USDT minting on EOS and Algorand to prioritize support for community-driven blockchains.
Tether, the issuer of the world's largest stablecoin, has announced it will stop minting its dollar-linked USDT token on the Algorand and EOS blockchains. This decision is part of a strategic shift to focus on community-driven blockchain support, aiming to balance maintainability, usage, and community interest.
Algorand and EOS will get no more USDT as Tether quits minting on those chains, with redemption support only promised for the next year.
Tether plans to sunset USDT minting on two major blockchain ecosystems over a year-long transitionary period.
The circulating supply of the dollar-linked stablecoin on the two blockchains represents roughly 0.1% of the total USDT supply.
Tether will stop minting USDT on EOS and Algorand starting June 24, 2024 and focus on community-driven blockchains.
