A surprising list from Coinbase has shown that the price of Algorand (ALGO) has increased by almost 30% in less than 24 hours and has brought Algorand’s market cap to a new record ($ 274 million at press time).
On July 16, Coinbase abruptly announced that SOMETHING trading had started on Coinbase.com and in the stock market apps. The trading volume for Algorand has almost quadrupled in response to the listing, making it the third strongest trading day in ALGO’s history.
ALGO’s prices tripled in three months
SOMETHING is currently trading above USD 0.35 for the second time in its history The price tripled from the lows seen after the cryptocurrency market plummeted on Black Thursday in March. Algorand’s market capitalization is partly due to the increase in current offerings. Nomics estimates that only 8% of SOMETHING is outstanding.
Algorand price development and market capitalization: CoinMarketCap
The listing surprised the cryptocurrency communitySince Algorand is not one of the 18 crypto assets, Coinbase announced that it would be considered for listing last month. Algorand’s absence from the list may be due to the fact that it was released on the Coinbase Pro platform last August.
Despite the publication of a blog post announcing the listing, Coinbase has not yet published its support for ALGO on Twitter. Quiet on Twitter can be attributed to on the recent hack involving the stock market social accounts and their executives in a cryptocurrency scam on Twitter.
On July 16, Coinbase Pro, along with Chainlink (LINK), Ripple (XRP) and Tezos (XTZ), also released EUR and GBP pairs for ALGO, which gives more power to the ascent.