Algorand Set to Conquer Interoperability and Post-Quantum Tech
• Algorand has two main goals: interoperability and post-quantum security.
• ALGO remains among the best-performing cryptocurrencies since the start of January, with a 68% upside and up 17% in February.
• Derivatives demand indicates there is no incoming sell pressure, suggesting ALGO can sustain its upside.
Algorand Prioritizes Interoperability and Post-Quantum Security
Algorand recently announced that it has two main goals: interoperability and post-quantum security. Interoperability is necessary for efficient value flow between different networks, while post-quantum security is needed to protect decentralized models against quantum computer attacks.
ALGO Price Action
Since the start of January, Algorand’s native cryptocurrency ALGO has been performing strongly, currently trading at $0.267 which is a 68% gain from the beginning of the year and up 17% since February began. The 200-day Moving Average may act as a psychological sell zone should ALGO reach it, but bearish sentiment weighs on potential further gains as indicated by metrics such as RSI divergence and weighted investor sentiment.
Derivatives Demand Suggests Sustained Upside
The absence of bearish volume from derivatives markets suggests that ALGO can sustain its current upside momentum; both Binance and FTX funding rates remain high without any pivoting observed so far. This suggests that ALGO is still recovering from the recent surge in price action without any significant sell pressure coming through yet.
Interoperability between networks is essential for efficient value flow between different blockchains to function properly; otherwise, a fragmented ecosystem will prove highly inefficient. Numerous other networks are also working towards solving this challenge though, making it possible for seamless integration across multiple ecosystems in time.
Post Quantum Security Measures Needed
Quantum technology is advancing rapidly which could potentially compromise blockchain decentralization models if security measures aren’t implemented properly to protect them against quantum computer attacks; this is why Algorand are actively pursuing solutions for bolstered post-quantum security protection in order to ensure their network remains secure going forward into an ever more digital world.