Algorand (ALGO) Loses Its Gains As Majority Of Coins Plummet

Algorand (ALGO) Loses Its Gains As Majority Of Coins Plummet

Despite bagging substantial gains earlier in the trading day, Algorand (ALGO) is down over 27% as of writing. The token’s price drop follows a bearish market sentiment that sees major coins plummet on the day. 

The past seven days had seen the token climb steadily. It even tried reaching its 6-month high of $0.488 yesterday. However, its rally was cut short and only registered an intraday high of $0.409.

Algorand’s price dump comes as news of FTX acquisition by Binance surfaces. This single news has dragged the entire market into the red zone, with alpha crypto Bitcoin falling below $18k again.

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ALGO Consolidating And Accumulating Between $0.28 And $0.42

ALGO’s price has been on a significant slump throughout 2022 up to May. Since reaching an

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