Today we will talk about several cryptocurrencies, and their situation as of August 31, 2023, advancing in Q3 of 2023.Let’s not forget that after the end of what is called “crypto winter”, in general, the market is in a waiting area/accumulation zone… we are therefore at the beginning of crypto spring.
ATOMATOM, which is the native cryptocurrency of the Cosmos blockchain platform. Cosmos aims to create an “Internet of Blockchains” by allowing different blockchain networks to interoperate and exchange data. ATOM is used for staking, governance, and transactions within the Cosmos ecosystem.”Crypto” is short for “cryptocurrency,” which is a type of digital or virtual currency that uses cryptography for security. Cryptocurrencies operate on decentralized networks based on blockchain technology. Bitcoin was the first cryptocurrency, but since its inception, thousands of other cryptocurrencies have been developed for various purposes.Super chart of ATOM:We have this crypto, in a large long-term accumulation zone. The fall of the crypto winter has been very hard. The relative strength indicator indicates possible decision zones for an uptrend.
ALGOAlgorand (ALGO) is a cryptocurrency and blockchain platform that aims to provide a scalable and decentralized platform for building and deploying decentralized applications (dApps) and smart contracts. It was founded by Silvio Micali, a prominent computer scientist and professor at MIT. Algorand aims to address some of the scalability and security issues associated with earlier blockchain platforms like Bitcoin and Ethereum.Key features of Algorand include:Pure Proof of Stake (PPoS): Algorand uses a consensus mechanism called Pure Proof of Stake, which ensures decentralization and security while also improving transaction throughput and energy efficiency. In this consensus mechanism, validators are randomly selected to propose and validate new blocks, making it difficult for malicious actors to manipulate the network.Fast and Scalable Transactions: Algorand is designed to handle a large number of transactions per second (TPS) with low latency. Its block confirmation time is very short, usually around 4.5 seconds, making it suitable for applications that require fast transaction processing.Decentralization: Algorand aims to maintain a high degree of decentralization by selecting validators randomly and using cryptographic mechanisms to prevent centralization of power.Smart Contracts: Algorand supports the development and execution of smart contracts, allowing developers to create complex applications and protocols on the platform. Smart contracts on Algorand are written in a language called Transaction Execution Approval Language (TEAL).Atomic Transfers: Algorand supports atomic transfers, which enable multiple transactions to be executed together, ensuring that either all transactions are executed or none at all. This feature is particularly useful for applications that involve multi-step transactions or exchanges.Layer-1 Token: The native cryptocurrency of the Algorand platform is called ALGO. It serves as the primary means of transferring value on the network and participating in consensus.Security: Algorand employs cryptographic techniques to enhance security, including cryptographic sortition for validator selection and Byzantine Agreement protocols for consensus.Super chart of ALGO:The weekly chart of Algorand (ALGO) indicates that the fall in its crypto winter has been hard. The great fall has led to it losing almost all of its market capitalization.What could come now: We observe possible accumulation while the relative strength (RSI) tries to remain in the 30-point area. In my opinion, the declines globally could be over.
The total market capitalization of the crypto world, in a logarithmic chart, also indicates that it could be in accumulation zones, within its great long-term bullish movement, as seen in the following chart.
We are therefore in a good moment, analyzing by TA (technical analysis).As I always say, for those people interested in being in this world, do not forget the great volatility of the market, its cycles of “seasons” and the new regulations of international institutions, which “move the market.”Consult your financial advisor before investing, this article is an informative and educational article and in no case is it an investment recommendation in any financial instrument or crypto asset.
