Algorand [ALGO] testing local lows: A breakdown on the way or a bear trap

Almost three weeks have passed since ALGO set a new 2022 low at $0.34 on 12 May, courtesy of the crash after UST's collapse. ALGO experienced a notable bounce-back since then, but it has since then given up those gains in favor of a support retest.

Timeline of Algorand

The performance of the global crypto market has changed a bit as the value of losses has been reduced. The influx of funds to the market has helped Binance Coin and others turn bullish.

Algorand, a Proof-of-Stake (PoS) blockchain protocol, has invested an undisclosed amount in FlexID to expand its Self Sovereign Identity (SSI) platform, according to an announcement. The post Algorand funds FlexID to offer Africa's unbanked self-sovereign IDs appeared first on CryptoSlate.

On Tuesday (May 17), generic cross-chain messaging protocol Wormhole announced that it had launched support for the Algorand ($ALGO) blockchain. As Binance Research explained in a research report published in June 2019, Algorand is “a permissionless, pure proof of stake blockchain that ensures full participation, protection and speed within a truly decentralized network.” Algorand's aim is “to remove technical barriers

The latest Algorand price analysis is leading in a bullish direction. Though the price underwent a decline yesterday and decreased to the $0.459 level as the bears made a comeback after three days of recovery from the bullish side.

The crypto market abstained from flashing high volatility over the last 24 hours. But with the crypto fear and greed index still hovering in the ‘extreme fear' zone, the near-term technicals of Polkadot, NEAR, and Algorand were in the neutral-bearish range.

A widely followed crypto analyst is unveiling what he thinks can push Ethereum challenger Algorand (ALGO) to a fresh all-time high. In a new video, the host of popular YouTube crypto channel Coin Bureau tells his 2.04 million subscribers that smart contract platform Algorand is currently facing a number of fundamental challenges including the exponential The post Here's How Ethereum Rival Algorand (ALGO) Can Definitively Break All-Time Highs, According to Coin Bureau appeared first on The Daily Hodl.

After dancing around its highest liquidity range (Point of Control, POC) near the $0.7 zone for two months, Algorand (ALGO) correlated with the broader sell-offs. As a result, the altcoin marked a substantial drop below the vital ranges of its Pitchfork.

May 12, 2022 – Madrid, Spain Bnext announces a total investment of $10 million, as the Spanish fintech giant prepares to complete its token sale. Borderless Capital has increased its investment in Spanish fintech Bnext to $10 million with a new investment of $4.5 million. What this means for Bnext This latest investment will help further Bnext's The post Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand appeared first on The Daily Hodl.

Napster, once popular in the early 2000s for peer-to-peer audio file sharing, has been acquired by Hivemind and Algorand, the teams announced today. The post Napster acquired by Hivemind, Algorand at undisclosed price appeared first on The Block.

The year 2022 is set to be a lucrative and beneficial year for crypto users, as analysts and experts predict that this year will be the year of a big pay-out. What is stopping you from being part of this?