Algorand User Surge Amid Price Struggles
The Essentials at a Glance
The number of active users on the Algorand network has increased by 72% in a short period. Despite this positive development, the price of ALGO remains under pressure. Large investors (so-called “whales”) are re-entering the market, while retail investors are actively buying on the spot market. At the same time, the derivatives market shows restraint. Technical indicators suggest a possible recovery, but a clear breakout has yet to occur.
Strong Increase in Active Users – But the Price Doesn’t Respond
According to recent data, Algorand (ALGO) recorded over 1.2 million active addresses – a 72% increase within a short time. This development indicates growing acceptance and usage of the network. Nevertheless, the price recently dropped to 0.1882 US dollars, a decline of 2.53% within 24 hours.
This discrepancy between network activity and price performance shows: despite increasing usage, the market currently lacks the confidence to drive the price upward.
Large Investors Are Returning
The so-called whales – wallets with large ALGO holdings – are showing renewed interest. Over the past seven days, the net inflow into these wallets rose by 68.77%. Previously, this figure had fallen by 107% over a 30-day period. The 90-day metric also shows a clear trend reversal with an increase of 227.5%.
This development suggests the beginning of an accumulation phase. If this trend continues, the purchases by large investors could serve as support for the price.
Spot Market Shows Strength – Derivatives Market Weakens
On the spot market – the direct buying and selling of ALGO – demand currently dominates. The so-called Spot Taker CVD (Cumulative Volume Delta) shows a dominance of the buying side. This indicates confidence from retail investors.
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At the same time, activity on the derivatives market is declining: trading volume fell by 8.87%, and open interest dropped by 3.78%. This development shows that leveraged traders are currently acting more cautiously. However, their participation is crucial for sustainable price movements.
Liquidation Data Shows an Imbalance
The analysis of liquidations – the automatic closing of positions at high losses – paints a clear picture: long positions (bets on rising prices) lost over 10,700 US dollars, while short positions (bets on falling prices) were barely affected.
This imbalance indicates one-sided market positioning. Such situations often lead to sideways movements or sudden price spikes. For a true trend reversal, short positions would also need to be liquidated to a greater extent.
Technical Analysis: Resistance Remains
From a technical perspective, ALGO continues to move within a clear sideways range between 0.16 and 0.25 US dollars. This range serves as a support and resistance zone. Currently, the price is near the lower boundary.
The Stochastic RSI – a technical indicator for assessing overbought or oversold conditions – is currently showing an almost oversold area. This suggests a possible short-term recovery. However, without clear demand or a triggering event, an upward breakout remains unlikely.
Our Assessment
Algorand is showing clear progress on the network level: more users, increasing activity, and the return of large investors. But the price remains cautious. The restraint in the derivatives market and the imbalance in liquidations are slowing a potential upward movement.
For a sustainable breakout, confidence from all market participants – both retail investors and institutional traders – must return. Until then, ALGO remains trapped in its sideways movement.
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