Coinbase Pro Adds Support for Algorand [ALGO] – This is How the Price Reacts to it |
Coinbase Pro announced support for another cryptocurrency after recently adding support for Tezos. Coinbase Pro added Algorand [ALGO] for all its users, except for New York state. The support was added on 14th August, and trading is expected to begin soon. He press release noted,
On Wednesday, August 14, 2019 after 10am PT, we will begin accepting inbound transfers of ALGO to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading, which will occur during business hours, Pacific time.
Algorand is a blockchain project founded by Silvio Micali; it aims to improve decentralization, scalability, and security. It was only released in June 2019 and follows permissionless, pure proof-of-stake (PoS) protocol which allows for building scalable blockchain projects.
The price of Algorand [ALGO] at shot up to $0.847 from $0.78 because of the FUD created at the break of the news. However, it subsided down below $0.77 as soon as it rose. The price of Algorand [ALGO] at 17: 20 hours UTC on 14th August 2019 is $0.768. Hence, it exhibited a Bart Simpsons pattern over a period of fewer than 4 hours.
The post Coinbase Pro Adds Support for Algorand [ALGO] – This is How the Price Reacts to it appeared first on Coingape.