Algorand has had relatively large price movement over the last 24 hours. It’s trading volume is up to over 1.7 billion which is the largest I’ve ever seen it. Additionally, it’s price action is inverse to the rest of the market. Bitcoin, Ethereum, Cardano, and Solana are all red while Algorand is massively green. This is huge for the Algorand ecosystem and we could see Algorand realize it’s actual place in the market before Christmas (which would mean a marketcap similar to Cardano’s). If this were the case ALGO’s would be trading at around $10 each. Personally, I think this is just the beginning for Algorand, it’s marketcap could easily be as big as Ethereum or even Bitcoins in the coming years.
My speculation is that something huge is happening behind the scenes. Algorand’s Decipher event is at the end of November and they’re supposed to announce some huge things. My guess is people who know what’s going on are loading up.
TL;DR: Algorand is beginning to break out and take it’s rightful place at the top. Huge things happening on Algorand right now.