Undeniably, Algorand (ALGO) has really skyrocketed in recent price increases even though this has yet to touch an all-time high (ATH) recorded in 2019,
At the time of writing, ALGO is trading at $ 2.15 with a jump of almost 10% in 24 hours. Yesterday alone, the asset recorded an acceleration of up to 268% to a daily high, $ 2.5 and recorded a 24 -hour trading volume of $ 4.83 billion.
Algorand did not hesitate to showcase his own record with the following factors;
El Salvador Select Algorand
El Salvador chose the Algorand blockchain to help it develop its own blockchain infrastructure.
This opened up interest among governments and large institutions because of its role in the central bank currency (CBDC).
Algorand will also support popular stablecoins: USD Coin (USDC) and Tether (USDT)
NFT and DeFi Sector Development
The Algorand Foundation is in the planning to launch an administrative feature for token owners that is expected to air on October 1st.
This gives users the opportunity to determine the future development of the platform.
The project development team is also working to develop decentralized financial applications (DeFi) and non-fungible tokens (NFT), which will attract more investors to join their ecosystem.
Based on ALGO’s current record, this asset owns over 38% before reaching the previous ATH record and continuing the surge in the future.
