NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Algorand Social Activity Reaches 13 Million – Time To Buy ALGO?

Christian Encila
Christian Encila
2 years ago
3 mins read
ALGO

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Algorand recently received a big boost for its blockchain ecosystem courtesy of Hivemind Capital’s $25 million investment to the decentralized finance (DeFi) Layer 1 chain.

  • Algorand DeFi ecosystem recently attained new all-time high in total locked value
  • ALGO registered a 3.23% price surge before experiencing minor price correction once again
  • The altcoin is predicted to be extremely volatile over the next few days

The crypto-focused investment firm announced three days ago that it has deployed 80 million ALGO tokens across various governance and DeFi programs under the umbrella of the Algorand ecosystem.

During that time, ALGO was trading at $0.31, putting the total value of the deployed tokens to $25 million.

Hivemind Capital’s input catapulted the total locked value (TLV) into Algorand to a new all-time high of$270 million. On a week-to-date basis, at that time, the blockchain’s TLV increased by as much as 53.95%. 

The massive cash inflow, it turned out, didn’t just help the network with its total locked value, as Algorand’s social dominance and ALGO price also increased.

Related Reading

Elrond

Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How

2 years ago

Algorand Social Engagement Up More Than 1,000%

According to data shared by LunarCrush, Algorand’s social engagement surged by 1,220% over the last seven days as it peaked at 12.78 million at the time of this writing.

The cryptocurrency social intelligence firm inferred this meant ALGO captured the interest of a large part of the crypto community.

Moreover, the upcoming FIFA world cup might have spurred interest for both the blockchain network and the crypto as five months ago Algorand announced it will be one of the sponsors of the much-anticipated sporting event.

Alpha: When you see spikes in social activity, it typically means there’s something to pay attention to…$ALGO social engagements measured hourly hit 12.87M, 1.22K% above the 7-day average.

Access #algorand insights with a LunarCrush Level 5 account: https://t.co/BIkh6qFIUO pic.twitter.com/YeXKYonShv

— LunarCrush (@LunarCrush) October 16, 2022

The huge boost in social status proved to be a good trigger for Algorand as it also translated into a price pump for the altcoin.

ALGO increased by 3.23% over a 24-hour period as it traded for $0.32. At press time, however, the digital asset experienced price correction as data from Coingecko showed it was changing hands at $0.319.

Time To Double Down On ALGO

Different indicators from Algorand’s trading chart signals it may be time to take further risks in ALGO holdings as bigger rewards could be expected.

Bollinger Bands indicate ALGO will be extremely volatile over the next few days which might help trigger price increase for the altcoin.

Meanwhile, the Moving Average Convergence Divergence (MACD) showed Algorand buyers (represented by the blue line) are still dominating the sellers (orange line).

Related Reading

Stellar

Stellar (XLM) Buyers Must Check Out These Data Before Going Long

2 years ago
Source: TradingView

As buyers continue to prevail over sellers, a short term bullish streak could happen soon for the digital asset.

Perhaps crypto investors have already predicted this trend for Algorand, as there’s been a significant increase in ALGO addresses.

By the end of September, active addresses were at 15 million. Recent data, however, show the number increased by 200,000.

ALGO market cap at $2.9 billion on the weekend chart | Featured image from Forkast News, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.
Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

BTC, Bitcoin

Bitcoin Near Historic Weekly Close Despite Drop – Analyst Warns Of Volatile Weekend

As the market sees a Friday retrace, Bitcoin (BTC) is attempting to reclaim a crucial area as support. An analyst...

Rubmar Garcia 4 hours ago
ethereum

Ethereum Approaches Wyckoff ‘Liftoff’ Phase – Can ETH Reach A New High?

Ethereum (ETH) is up 4.2% over the past seven days, trading in the mid-$2,500 range at the time of writing....

Ash Tiwari 6 hours ago
Giełda krypto Bitunix laptop interfejs

Giełda Bitunix integruje TradingView. Nowy lider na rynku krypto?

Rynek kryptowalut zmienia się w zawrotnym tempie. W środowisku, gdzie czas to pieniądz, niezbędna staje się platforma, która nie tylko...

News BTC 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Sebastian Villafuerte 1 hour ago

比特幣ETF年化收益超越標普500 7月最值得買入預售項目錯過升10倍肯定後悔 

Kelvin Lee 1 hour ago
Ethereum at Risk? Whale Activity and On-Chain Signals Hint at Further Correction

Ethereum Wave Count Predicts Price Crash To $1,800 — But $6,000 Is Still In Play

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    2 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    2 hours ago
  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    19 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    20 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    20 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.