CryptoMediaClub
Wednesday, June 25, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Analysis

Algorand Foundation CEO says ‘we don’t think about price’

25.05.2023
A A
0
154
VIEWS
ShareShare

Algorand Foundation CEO Staci Warden played down the significance of ALGO’s underwhelming performance, saying, “We don’t think about price.”

In a recent interview with Real Vision Crypto, Warden brushed aside the relevance of price, instead highlighting the Foundation’s success in attracting developers to the ecosystem and ensuring their success.

“We are having a Cambrian explosion of builders on this ecosystem right now. I will say we try to make sure that they have a good path to success.”

Algorand is down 50% from its 2023 peak

Algorand opened 2023 at $0.1721, experiencing a run that peaked at $0.30 by February 7.

The zone around $0.24 provided support, leading to a bounce that failed to break through $0.2913 two weeks later.

An accelerated downtrend followed that was reversed as market leader Bitcoin showed strength off the back of the March banking crisis – with sentiment flipping in favor of hard assets, as opposed to fiat proliferation.

Nonetheless, this recovery was somewhat muted, with the $0.24 zonal support zone now acting as resistance – leading to three rejections and a further spill that triggered on April 17.

As of writing, Algorand had sunk to $0.1507, marking a 50% drop from 2023 highs and, more significantly, a level not seen since March 2020 – marking a 38-month low.

Furthermore, the coin is down 96% from its all-time high price of $3.56, achieved on June 20, 2019.

Algorand daily chart YTD
Source: ALGOUSDT on TradingView.com

CEO addresses tough questions

In an April SEC filing against Bittrex, the Algorand Foundation and Algorand Inc were accused of breaching securities laws via the common enterprise and expectation of profit prongs of the Howey Test.

“These statements led reasonable ALGO investors throughout the Relevant Period to expect that the demand for ALGO would likely increase based on Algorand, Inc.’s and Algorand Foundation’s efforts to increase demand for the Algorand technology, thereby resulting in a price increase for ALGO.”

During the interview, Warden said the enforcement action was a surprise because the Foundation is not based in the U.S., nor is ALGO issued within that jurisdiction.

On the MyAlgo Wallet hack, which began around February, Warden said the Foundation gave the company a grant but is not related in any other way. Forensic examinations turned up no clues on the cause of the hack, leading them to turn things over to the FBI.

In closing the interview, Warden stated that Algorand is a young ecosystem not focused on hype. Instead, they prefer to focus on developers, protocols, and to follow “a bottoms-up strategy.”

The post Algorand Foundation CEO says ‘we don’t think about price’ appeared first on CryptoSlate.

Share12Tweet7ShareSharePin3

Related Posts

Number of XRP holders almost doubled within six months, overtaking Solana
Analysis

Number of XRP holders almost doubled within six months, overtaking Solana

24.06.2025
0

The number of XRP holders has nearly doubled between October 2024 and May 2025, expanding from 1.29% to 2.42%, while...

Read moreDetails
XRP leads crypto market rally as Iran-Israel’s tentative ceasefire lifts sentiment

XRP leads crypto market rally as Iran-Israel’s tentative ceasefire lifts sentiment

24.06.2025
Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

24.06.2025
Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

23.06.2025
Major Ethereum, Solana, XRP losses cause chance of Altcoin Season to drop to 12 month low amid Bitcoin strength

Major Ethereum, Solana, XRP losses cause chance of Altcoin Season to drop to 12 month low amid Bitcoin strength

23.06.2025
Load More
Next Post
New MATIC Addresses on Polygon Surges Amid Recent Developments

New MATIC Addresses on Polygon Surges Amid Recent Developments

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Crypto Market Recovery Triggers Increased VC Funding, Renewed Confidence

Crypto Market Recovery Triggers Increased VC Funding, Renewed Confidence

1 year ago
Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

2 years ago

Salesforce Ventures Lead $6M Seed Extension Investment in NFT Intelligence Firm Mnemonic

2 years ago
XRP and ADA Likely To Make a Comeback Post Bear Dominance

XRP and ADA Likely To Make a Comeback Post Bear Dominance

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Number of XRP holders almost doubled within six months, overtaking Solana

Bitcoin Rebounds to $105,000 After Truce Claimed in Middle East – What’s Next?

Dogwifhat Rockets 20% as Bitcoin Breaches $106K – Is a $1.00 Breakout Next?

Turkey Slaps Strict New Crypto Oversight: Mandatory Source Checks, $3K Daily Stablecoin Limit

South Korea Expands Cryptocurrency Initiatives and Strengthens Market Regulation

Why Is Crypto Up Today? – June 24, 2025

Trending

Crypto Price Prediction Today 24 June – SHIB, TON, PEPE
All news

Crypto Price Prediction Today 24 June – SHIB, TON, PEPE

25.06.2025
0

The crypto sector is once again buzzing with renewed price optimism on news of a ceasefire between...

Russian Crypto Mining Chief: Bitcoin Could Hit $130k Before Summer Is Out

Russian Crypto Mining Chief: Bitcoin Could Hit $130k Before Summer Is Out

25.06.2025
Senate GOP Unveils Bold Crypto Market Structure Principles – Here’s What Could Change

Senate GOP Unveils Bold Crypto Market Structure Principles – Here’s What Could Change

25.06.2025
Number of XRP holders almost doubled within six months, overtaking Solana

Number of XRP holders almost doubled within six months, overtaking Solana

24.06.2025
Bitcoin Rebounds to $105,000 After Truce Claimed in Middle East – What’s Next?

Bitcoin Rebounds to $105,000 After Truce Claimed in Middle East – What’s Next?

24.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz