Algorand Jumps Over 60% in less than 10 Minutes Reaching #14 Largest Coin By Market Cap

Algorand is one of the largest up and coming proof-of-stake blockchains. With this sudden jump, Algorand passed projects like MATIC, Chainlink and Litecoin to reach 14th place in Market Cap. The rapid climb peaked at over $2.8, and represents one of the most violate price swings the coin has seen this year. Despite the crypto market overall being down, this sudden spike made Algorand the largest gainer on Coinbase with over 60% increase in 10 minutes. Following the spike, ALGOs price has settled at around $2.2 which still represents a 30% increase in 24 hours. Algorand is known for relatively steady price action so this is abnormal for the coin or project with an over 10 billion dollar market cap. The price spike has no major known catalyst as Algorand's main Decipher event is still over 1 week away. Key members of the ALGO community plan to speak on a range of subjects and have teased possible announcements regarding their blockchain. submitted by /u/_OneStepAtATime_ [link] [comments]