Algorand

Algorand holders are experiencing substantial losses, with a remarkable 89% underwater, while just 8% of investors in ALGO are currently in profit at its price of $0.1818. Gary Gensler’s previous praise of Algorand had contributed to the asset reaching its all-time high (ATH) of $3.56.<h2 id="header-0">Claim Instant $200 Worth Of DunkiMunki New Memecoins Free On <a href="https://dunkimunki.xyz/" rel="noopener noreferrer nofollow">www.DunkiMunki.xyz</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Untitled-design.png?fit&#61;1920%2C1080&amp;ssl&#61;1" />During the current crypto market downturn, investors holding Algorand (ALGO), Gary Gensler’s praised project, are feeling the pressure. According to data from the <a href="https://cryptosheadlines.com/shiba-inu-shib-price-expected-to-hit-0-1-analytics-platform-shares-timing/" rel="noopener noreferrer nofollow">analytics platform</a> IntoTheBlock, 89% of ALGO holders are experiencing losses. This means that the majority of ALGO investors have bought the asset at prices higher than its current value, leaving them “out of the money.”<h2 id="header-1">Algorand Holders Experience Losses Amid Market Volatility</h2>At the time of writing, ALGO is trading at $0.1818, showing a 5% gain in the last 24 hours. However, despite this slight increase, only 8% of Algorand holders are profitable. Additionally, 3% are at break-even, neither profiting nor losing.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/cryptosheadlines2-2.png?resize&#61;640%2C209&amp;ssl&#61;1" />Source: IntoTheBlockNotably, among cryptocurrencies tracked by IntoTheBlock, ALGO stands out with the highest percentage of holders in a loss position.<h2 id="header-2">Claim Instant $200 Worth Of DunkiMunki New Memecoins Free On <a href="https://dunkimunki.xyz/" rel="noopener noreferrer nofollow">www.DunkiMunki.xyz</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Untitled-design.png?fit&#61;1920%2C1080&amp;ssl&#61;1" />According to IntoTheBlock statistics, at least 83% of Algorand investors are long-term holders, having held the asset for more than a year. Only 15% <a href="https://cryptosheadlines.com/binance-trying-to-again-enter-in-japanese-crypto-market/" rel="noopener noreferrer nofollow">entered the ALGO market</a> within the last year, while 2% bought ALGO within the past 30 days.Silvio Micali, a professor at the Massachusetts Institute of Technology (MIT), founded Algorand in 2017. The blockchain project received praise from Gary Gensler, the <a href="https://cryptosheadlines.com/a-leading-cryptocurrency-exchange-is-currently-being-investigated-posing-a-potential-challenge-for-the-crypto-market/" rel="noopener noreferrer nofollow">current chairman of the U.S. Securities and Exchange</a> Commission (SEC).<h2 id="header-3">Gensler’s Endorsement and Algorand’s Struggles</h2>During his tenure teaching at the MIT Sloan School of Management in 2018 and 2019, Gary Gensler made notable remarks about Algorand. In a 2019 presentation, Gensler described Algorand as “a great technology that has a performance with which you could create Uber on top of it.”Gensler’s endorsement gained significance after he assumed the role of SEC Chair in 2021. However, this changed when the SEC filed a lawsuit against the crypto trading platform Bittrex in April, classifying ALGO as a security.<a href="https://cryptosheadlines.com/dogecoin-and-surprise-altcoin-beat-bitcoin/" rel="noopener noreferrer nofollow">Also Read: Dogecoin and Surprise Altcoin Beat Bitcoin!</a>Despite initial optimism and endorsements, Algorand has <a href="https://cryptosheadlines.com/sec-faces-challenges-in-legal-fight-against-terraform-labs-judge-indicates/" rel="noopener noreferrer nofollow">faced challenges</a> in keeping pace with its peers. Three months after Gensler’s 2019 presentation, ALGO surged to an all-time high of $3.56. However, currently trading at around $0.1818, the asset reflects a staggering 94% drop in value since then.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Losses for 89% of Gary Gensler’s Praised Token Holders

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