What Is Algorand(ALGO)?

• Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.

Overview

In this dashboard, I will answer this question from Flipside Crypto:

• 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!

Conclusion

• Algo price has correlation between BTC and ETH. Actually If ETH or BTC have uptrend, Algo price will be increase and If ETH and BTC have downward trend, Algo price will be decrease over time. This data shows Algo price follow market behavior.
• It seems Number of Algorand transactions doesn't effect on Algo price for instance on 2th Jan Algorand experience a spike in number of daily transactions with about 700K but price didn't change very much.
• Sol price has correlation between BTC and ETH. Actually If ETH or BTC have uptrend, Sol price will be increase and If ETH and BTC have downward trend, Sol price will be decrease over time. This data shows Sol price like Algo price follow market behavior.
• It seems Number of Solana transactions doesn't effect on Sol price for instance on 25th Jan Solana experience most number of daily transactions with about 50.8M but price didn't change very much.