ALGO (Algorand) rose 4.08% in the last 24 hours.

Gate News Bot message, July 1, according to CoinMarketCap data, as of the time of writing, ALGO (Algorand) is currently priced at $0.19, having risen by 4.08% in the last 24 hours, with a high of $0.19 and a low of $0.17. The current market capitalization is approximately $1.653 billion, an increase of $64.8 million compared to yesterday.

Algorand is an energy-efficient, quantum-safe, single-layer blockchain characterized by instant finality, sustained high throughput, and low fees. The platform enables developers to create secure, production-ready decentralized applications using familiar Python and TypeScript syntax. Algorand employs a pure proof-of-stake consensus mechanism, allowing users to participate in network security by staking ALGO without the risk of slashing, no lock-up period, and receive real-time rewards. Algorand is providing global scale, security, and resilience support for breakthrough applications in asset tokenization, DeFi, payments, supply chain, identity, and more.

Important news about ALGO recently:

1️⃣ Perpetual contract trading is restricted A large trading platform plans to delist the ALGOUSD perpetual contract on June 27, 2025, at 4:00 PM (UTC+8). This decision may have a short-term impact on the liquidity and trading activity of ALGO, thereby affecting its market performance.

2️⃣ Market Sentiment Fluctuation The news of the perpetual contract going offline may trigger market concerns over ALGO's future development prospects, leading to fluctuations in investor sentiment. This could be one of the reasons for the 4.08% rise in ALGO's price in the past 24 hours, as investors may adjust their positions before the contract goes offline.

3️⃣ Potential Liquidity Changes With the termination of perpetual contract trading, the market liquidity of ALGO may be affected. This could lead to increased price volatility and impact trading strategies in the short term. Investors should closely monitor the performance of ALGO on other trading pairs and platforms.

From a technical perspective, ALGO is currently fluctuating within the range of $0.17 to $0.19. Investors should pay attention to the breakout situation in this range to assess potential future trends.

This message does not constitute investment advice, and investors should be aware of market volatility risks.