Cryptocurrency Algorand Decreases More Than 4% Within 24 hours

Algorand's ALGO/USD price has decreased 4.16% over the past 24 hours to $0.34, continuing its downward trend over the past week of -6.0%, moving from $0.36 to its current price.

The chart below compares the price movement and volatility for Algorand over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 50.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 1.38%. This brings the circulating supply to 7.02 billion, which makes up an estimated 70.15% of its max supply of 10.00 billion. According to our data, the current market cap ranking for ALGO is #31 at $2.37 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.