ALGO (Algorand) rose 22.29% in 24 hours.

Gate News Bot news, on July 14, according to CoinMarketCap, as of the time of writing, ALGO (Algorand) is currently priced at $0.27, with a rise of 22.29% in the last 24 hours, reaching a high of $0.27 and a low of $0.17. The current market capitalization is approximately $2.315 billion, an increase of $422 million compared to yesterday.

Algorand is an energy-efficient, quantum-safe, single-layer blockchain characterized by instant finality, sustained high throughput, and low fees. It employs a pure proof-of-stake consensus mechanism with no forking risk and no lock-up period, and provides real-time rewards. Algorand supports development using familiar programming languages and tools such as Python and TypeScript, and is committed to promoting decentralization while maintaining network security through thousands of validators.

Important news about ALGO recently:

1️⃣ Tether will stop supporting USDT on the Algorand network Tether announced that it will stop supporting USDT on the Algorand network on September 1, 2025. This decision is part of Tether's overall strategy to optimize infrastructure and align with user usage trends. This initiative may have a certain impact on the Algorand ecosystem, especially in terms of DeFi and cross-chain applications.

2️⃣ ALGO price rebounds Despite the news that USDT support is about to end, the price of ALGO has seen a significant rise in the past 24 hours. This unusual trend may reflect the market's confidence in the long-term development prospects of Algorand, or expectations of other potential positive factors.

3️⃣ Algorand ecosystem facing adjustment As Tether plans to withdraw, the Algorand ecosystem may need to seek alternative stablecoin solutions or strengthen cooperation with other stablecoin projects. This change could drive Algorand to optimize its ecosystem and make strategic adjustments in the coming months.

From a technical perspective, ALGO has broken through recent resistance levels, showing strong short-term momentum. However, considering the potential long-term impact of reduced stablecoin support, investors should closely monitor the Algorand team's responses and the development trends of the ecosystem.

This message is not an investment advice; investment should take market volatility risks into account.