The capitalization of Algorand (ALGO) rose to a new all-time high after the announcement of cryptocurrency's support by the largest US exchange Coinbase. On the night of Friday, July 17, the price of a coin increased at the moment by almost 30%.
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Around 19:35 PDT, the market value of ALGO rose to $0,378, capitalization exceeded $300 million. In addition, over the past 24 hours, the volume of coin trading has quadrupled.
At the time of publication, cryptocurrency quotes adjusted to the area of $0,3485.
The news about the start of Algorand's support on Coinbase was somewhat unexpected, given the fact that in June, when the company announced the possible listing of 18 new cryptocurrencies, it was not there.
The absence in the list can, however, be explained by the fact that since last August, ALGO has been trading on Coinbase Pro.
With the start of Algorand's support on the main platform, the purchase, sale, storage, and sending of transactions became available to a wide range of users in supported jurisdictions, including through mobile applications.