Q109. Is the price of Algorand more closely correlated with the crypto market, and assets such as BTC or ETH, or is it more correlated with network usage such as number of transactions or ALGO transfers? How does this compare to other networks such as Solana? Note your findings and anything else that may be interesting in relation to Algorand's price movement!

In the chart below ALGO price with ETH It has been compared daily in 2022

In the chart below ALGO price with BTC It has been compared daily in 2022

In the chart below ALGO price with SOL It has been compared daily in 2022

In the chart below ALGO price With the number of users who join the Algorand ecosystem are added It has been compared daily in 2022

In the chart below ALGO price With the number of Algorand ecosystem swaps It has been compared daily in 2022

Conclusion:

In this dashboard, we analyzed Algorand Price Correlation and according to this analysis It seems that we are witnessing a more price drop for ALGO than the price of ETH, SOL and BTC ALGO has less support in market fluctuations than the three currencies compared above Also, comparing the number of users added to the Algorand ecosystem, one can see the growth of these users when the price of ALGO increased, for example, on May 8, 2022, when the price of ALGO was rising, the number of users added was about 329 thousand and With the beginning of the downward trend of the price of ALGO on May 11, the number of these users has decreased As predicted, with the increase in ALGO price, the number of swaps has decreased and with ALGO price decrease, the number of swaps increased, for example, on May 12, the number of swaps reached 131,000, and it was exactly when the price of ALGO decreased.