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    Algorand Price Correlation

    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?

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    Introduction

    In this dashboard we will analyze ALOG correlation with BTC and ETH, And also with number of transactions on Algorand or ALGO transfers as following:

    • ALGO price correlation with BTC price from October 2021
    • ALGO price correlation with ETH price from October 2021
    • ALGO price correlation with number of transactions on Algorand
    • ALGO price correlation with number of ALGO transfers
    • SOL price correlation with BTC price from January 2022
    • SOL price correlation with ETH price from January 2022
    • SOL price correlation with number of SOL transfers
    • SOL price correlation with average number of SOL transfers
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    Based on the above charts we can say ALGO price has a continuous correlation with BTC and ETH price.

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    Based on the above chart we can say ALGO price is more correlated with BTC and ETH price in comparison with transactions on Algorand and ALGO transfers.

    Based on the above charts we can say SOL price has a continuous correlation with BTC and ETH price.