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| Algorand price chart from coinmarketcap.com |
Algorands Price Up 50% From Bottom
Algorand has seen a value increase as of late, with almost a 50% climb since the recent bottom during the end of December 2022. As of 22th of January $ALGO is trading north of $0.24.
ALGO, together with BTC and other cryptocurrencies have enjoyed a sudden bull run in the past month. This may be the results of crypto being oversold after the news about FTX bankruptcy just a few month ago, where several millions of USD of crypto market funds vanished in thin air.
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Competitor Blockchain Boasting 150% Increase
During the recent bull run Algorands competitor chain, Solana, have seen a staggering 150% in price from the recent bottom in the end of December 2022, hovering at around $25 per SOL.
In the same time the price of Bitcoin has increased by a 50% as well, breaking the $23,000 level.
Algorand has seen a recent loss in relative market share compared to its competitors, dropping to #36 place in terms of crypto currency market caps.
