Despite the tragic market crash in the first half of the year, 2021 could be termed as a year of vast surprises. These surprises are both positive market booms as well as sudden unexpected market crashes!
In spite of all this hustle and bustle so far this year, making a name for itself in the crypto industry has become quite a challenge. However, one altcoin has so far made remarkable progress throughout the entire year.
Many speculate that this could be the next Solana (SOL) owing to its rather standard and astonishing progress so far. With such praises is the Algorand (ALGO), which has spiked more than 3 times the previous price in this year alone.
ALGO-Best Altcoin For 2021
With the whole market collapsing again profusely on September 7th, both Bitcoin (BTC) and Ethereum (ETH) dwindling down, one altcoin performed rather surprisingly. This took the whole crypto market to awe on September 8th, the following day.
This particular altcoin spiked up to 34%, seeking the all-time highest ever since its initial launch in June 2019. Making the hot headlines for the week, this is the Algorand (ALGO). In addition, the altcoin touched $1.84 in the first quarter of the crypto trade hours on September 8th.
In spite of such remarkable shoot-ups, many crypto enthusiasts took this on to various social media claiming it to be the next Solana (SOL). Also, they tend to compare ALGO with SOL as ALGO is performing in the same way as the SOL this year profusely, both touching their all-time high this year.
Furthermore, ALGO touched its ATH of $2.47 just a few hours back from the time of writing. All this makes ALGO the most promising altcoin for the year 2021.
A Sneak-Peek Into Algorand (ALGO)
Algorand is a completely decentralized blockchain-based network platform launched in the year 2019. In addition, it offers profuse support to numerous applications. Also, the blockchain-based services of Algorand are secure, efficient, and more scalable comparatively.
Moreover, within just a year the Algorand platform witnessed more than 1 million transactions upon the platform network in just a single day. The ALGO is the native token of the Algorand platform.
Furthermore, the uniqueness of the platform is all due to its extreme transfer speeds, efficiency, and low transaction fees too. Also, it’s a no-mining platform with a completely permissionless proof-of-stake blockchain protocol.