Numerous blockchains remove Ethereum from its positions as the top leading network for Decentralized Apps, NFTs, and DeFi. Algorand is also amongst them, and it is the native ALGO currency that is now amongst the Solana-like price surge.
According to the reports, the price of the ALGO has reached a high of $2.44 according to CoinMarketCap. Before reaching its current price, the ALGO price was $1.20, according to the one seen on Tuesday during a market-wide morning flash crash. It is the first time since the launch of Algorand that the price has gone this high.
Algorand Vs. Solana
Algorand was launched in 2019. According to the data, the all-time high price of ALGO was 3.56$. After that, the price fell below the 2$ level and stayed in that range until recently. The price has hiked up to 35% over the last 24 hours alone.
Algorand is more beneficial than Solana as it is supported on various platforms, such as SaaS, iPad, iPhone, Android, whereas Solana is supported only on SaaS. ALGO’s core technology is built to support and incorporate all kinds of financial futures, including Non-Fungible Tokens, or NFTs. In a new age, NFTs will provide the long-term benefit of digital assets. NFTs will bring in the long-term benefit of digital assets in a new era.
Central Banks are also in their research as they want to host their Central Bank digital currency. In short, it is also known as CBDCs, Algorand is the viable option, and it has been chosen to host the Marshall Islands.