I’m investing in Algorand and Klaytn on July 30 due to the increased activity of their networks and here is why!

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Jul 30, 2021
  • In the last 24 hours, Algorand has seen an increase in trading volume by 8%.
  • Klaytn has seen an increase in market cap by 0.45% and an increase in trading volume by 3%
  • The increased activity within the networks of these tokens could signal an investment opportunity.

Algorand ALGO/USD is a self-sustaining decentralized blockchain network that supports different applications in a secure, scalable and efficient way.

Klaytn KLAY/USD is a blockchain platform that provides an accessible user interface alongside a development environment by combining the best features of public and private blockchains through a hybrid design. 

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Both of them have experienced an increase in trading volume, but are they a worthwhile investment on July 30?

Should you invest in Algorand (ALGO)?

On July 30, Algorand (ALGO) had a value of $0.82.

The cryptocurrency token experienced its all-time high value of $3.56 on June 20, 2019.

This puts it at a 334% difference when compared to the value it has on June 30. We saw it go as high as $1.12 on June 3 and dropping to $0.68 on June 22. Comparing its July 30 value to the value it saw on June 3, we can see a 36% difference. With the increase in the trading volume, we could see its price moving up to $1.06 which would be an increase by 30% by the end of August.

Algorand is currently ranked #38 in terms of its market cap with a $2.6 billion value, which puts it in the perfect position to climb to a further ranking. With its increase in trading volume, we can see it potentially climb to the #36 ranking soon.

Should you invest in Klaytn (KLAY)?

On July 30, Klaytn (KLAY) had a value of $1.

The token experienced its all-time high value of $4.34 on March 30.

This puts it at a 334% difference when compared to the value it has on June 30.

That being the case, when we analyze its performance throughout June, we can see that its highest point was achieved on June 3, where it saw a value of $1.43. Its lowest point by comparison occurred on June 22 where it dropped to $0.77. The high of June 3 differs from July 30’s value by 43%.

Due to the increased trading volume, we can realistically expect its value to increase by 40% by the end of August, which would put its value at $1.30, making it a worthwhile investment opportunity. The coin is currently ranked #42 in terms of its market cap of $2.5 billion USD and as such, it could potentially go higher in both rankings and value the more investors get interested in the opportunities the blockchain proposes.

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