Algorand shifts more attention towards interoperability and post-quantum technology. ALGO bulls maintain control over the market as bears remain subdued. As the blockchain industry continues to bloom and advance, there are undeniable challenges that need to be dealt with. Those challenges have shaped priorities for the top blockchains and this is the case for Algorand. […]
Algorand acknowledged that quantum technology has been advancing at a rapid pace. Perhaps to a level that may compromise blockchain technology’s decentralized model.
This is why Algorand is actively pursuing measures that will boost security against attacks executed using quantum computers.Algorand’s native cryptocurrency ALGO remains among the best-performing cryptocurrencies since the start of January. Its $0.267 press time price represents a 68% upside and it isALGO still has some room for more upside before interacting with the 200-day Moving Average. The latter may act as a psychological sell zone.
On the metrics side of things, we see that the weighted sentiment is currently in favor of the bears. The probability of a sizable bearish retracement is higher with such investor sentiment, especially now that the price has been going up.Perhaps derivatives demand may offer some clearer insights. Both the Binance and FTX funding rates remain within the upper range, and no pivot has been observed so far. This confirms that there is no incoming sell pressure from the derivatives segment.
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