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Daily Algorand (ALGO) market cap history up to June 2, 2024
the market cap of Bitcoin and other digital coins was declining. The Algorand coin is similar to Ethereum, Cardano, Solana and Polkadot in that is powers its own layer 1 blockchain, an environment for smart contracts and essential for setting up Decentralized Finance or DeFi projects. The market cap increase in September likely reflects a sentiment that Algorand has the potential to become a new Solana.
The market cap of cryptocurrency Algorand nearly tripled between August and September 2021, and initially continued to grow in November 2021. The rise of the ALGO coin in September was noticeable, as it came in a time when