Algorand’s (ALGO) price has advanced from $0.33 above $1.80 since the beginning of the 2021 year, and the current price stands around $1.42. The cryptocurrency market continues to trade in a bull zone; Bitcoin has stabilized above the $59000 level, indicating that the price could advance again above the $60000 resistance level.
Fundamental analysis: Vesta Equity will use Algorand’s blockchain for residential property financing and investing
Algorand’s (ALGO) price has exploded since the beginning of January, and this cryptocurrency continues to trade in a buy zone. Algorand is a proof-of-stake (PoS) blockchain, and the main characteristic of this project includes open participation, scalability, security, and transaction finality.
Algorand enables developers to create new applications on its platform fuelled by cryptocurrency, but there’s still a level of uncertainty surrounding the project. The positive news is that Vesta Equity announced last week that it would use Algorand’s blockchain for residential property financing and investing.
Vesta Equity is the global home equity marketplace that provides homeowners with the tools to control their home equity.
“Vesta Equity and Algorand have a shared vision of how blockchain enables the creation and exchange of value in a more efficient, transparent, and secure manner. By expanding opportunities for homeowners as well as investors, Vesta Equity is at the forefront of creating new, more accessible market opportunities by bringing participants together through Algorand’s technology,” said W. Sean Ford, COO of Algorand.
Algorand liquidity has risen dramatically, and many estimates say that this cryptocurrency price could advance even more in the ongoing bull market. Despite this, the current risk/reward ratio is not good for long-term investors, in my opinion, and if you decide to buy Algorand (ALGO) this month, you should always use
