The cryptocurrency market is falling due to bearish macroeconomic conditions. Bitcoin has fallen below the $19K mark and is currently trading at $18.7K. Ethereum went down by 6% in the last 24 hours and by more than 20% in the last 7 days. However, Algorand’s native token ALGO is beating the bearish sentiment of the market.
ALGO is currently up by more than 8% in the last 24 hours despite a major sell-off in the rest of the altcoin market. In the last 7 days, Algorand is up by over 20%. Algorand’s achievement is a result of achieving 6000 TPS on its blockchain, which outperforms Mastercard’s 5000 TPS.
The Federal Reserve decided to increase interest rates by an unusually large 75 basis points. Fed chair Jerome Powell promised that more quantitative tightening is appropriate. As a result, the crypto market is in a major rut.
Why Algorand Is Outperforming The Crypto Market?
Algorand is a proof-of-stake-based blockchain protocol. The team claims to achieve decentralization, security,...
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