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Why did Algorand price jump 23%? Google report stirs up stagnant waters

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Algorand coin (ALGO) is seeing a +23% increase in 24 hours, marking the strongest daily bullish move since the project’s name declined in the crypto space following the 2021 bull boom. What’s interesting is that the catalyst was not a protocol upgrade or inclusion in a trading platform, but rather a Google Quantum AI research paper published late last month in which the name Algorand has been mentioned around 32 times.

Google Quantum AI research examined the threats posed by quantum computing to major blockchains, ranking networks based on their readiness for post-quantum cryptography. Algorand ranked third in number of citations, behind Bitcoin and Ethereum, being recognized for its direct deployments covering signatures, cryptographic proofs of state, key rotation and smart contracts.

In contrast, Solana received 16 mentions, XRP only 14, while Hedera and Avalanche received no mentions. Crypto YouTuber Zach Humphries summed up the community reaction clearly: “Google Quantum AI essentially published a landmark article yesterday on quantum threats to all major blockchains. » This caused a huge increase in trading volume of +429% to $440 million in 24 hours.

Algorand Momentum: will the upward movement continue?

Beyond the Google document, the simultaneous integration with PostFinance and Revolut opened access to ALGO to 2.5 million Swiss banking customers, adding institutional weight to what could have been only a fleeting leap.

The combination of technical recognition, easier banking access, and the rebound from the all-time low creates a scene that requires precise determination of price levels:

ALGO hit a low of $0.08 just 4 days ago, an all-time low, before rebounding +27% to reach an 8-week high of $0.1052 in 48 hours. The 24-hour trading range was between $0.085 and $0.105, with a close above $0.10 representing a decisive retracement of a key psychological level.

Support now stands at $0.082, representing the previous wedge base and horizontal shelf. As resistance nears $0.115 to $0.12, this is the area where sellers from the previous range are likely to concentrate. The market cap is around $930 million, still less than $1 billion, meaning any sustained institutional rotation could move the price aggressively. But it should be remembered that ALGO is still 96% below its 2019 high when it was launched.

LiquidChain Targets Early Startup Opportunities

The ALGO movement is real, but with a market cap of $930 million, the huge upside potential is already partially priced in. Initial buyers at $0.08 have gained +27%, while entrants at $0.105 are chasing the news that is already in the lead. It is precisely in this decreasing quality of entry point that pre-sales projects become important.

The LiquidChain ($LIQUID) project is a layer 3 infrastructure that aims to act as a cross-chain liquidity layer, integrating Bitcoin, Ethereum and Solana liquidity into a single execution environment. Its architecture is based on a unified liquidity layer, single-step execution, verifiable settlement, and a “single deployment” model that allows developers to access all three systems without the need to redeploy.

The current pre-sale price is $0.01445, with over $630,000 raised so far. In addition to being in its early stages, the contract has been audited by Certik to ensure investor safety, with the added benefit of a 1,700% annual yield (APY) for early believers.

For traders who missed ALGO and are looking to bet on crypto infrastructure early, they can look into the LiquidChain project here.

This article does not constitute financial advice. Crypto assets are very volatile, always do your own research before investing.

The post Why did Algorand price jump 23%? Google report stirs up stagnant water appeared first on Cryptonews Arabic.

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