Algorand Trolling BTC, ETH & SOL; Is ALGO Capable Of Beat These?

The Algorand Foundation released an ad criticizing Bitcoin, Ethereum, and Solana for being slow, expensive, or prone to failure.

The ad highlights Algorand’s advantages in terms of speed, low fees, and reliability. The ad received mixed reactions from the crypto community, with some criticizing it for being negative and others praising it for its humor and marketing effectiveness.

Despite the ad, Algorand’s total value locked is significantly lower than Ethereum and Solana. Algorand’s native token, ALGO, has also experienced a significant drop from its all-time high.

Source: DefiLlama

When comparing ALgorand with Ethereum, Solana, and Bitcoin, it’s important to note that ALGO has the lowest Total Value Locked (TVL) at $95.78 Million. In contrast, Ethereum boasts the highest TVL at $63.172 Billion, followed by Solana at $4.65 Billion and Bitcoin at $1.144 Billion.

A higher TVL indicates that more capital is locked in the DeFi protocol, offering participants greater benefits and gains. Conversely, a lower TVL means there are fewer available funds, resulting in lower returns for participants.

Algorand Technical Chart is Looking Weak

ALGO has been in a bearish zone for a while on the technical chart. The price stopped near $0.3299 and then started moving downward, forming a lower-low structure.

It was at a crucial support level of $0.1500, and if it breaks this level, it might experience further downside. ALGO is trading below the key moving averages, indicating that bears are dominating the market.

At the time of writing, Algorand was trading at $0.1816 with a market cap of $1.49 Billion. Throughout the year, ALGO has shown lackluster and volatile performance.

Community Reactions on Algorand Advertisement

Community members have been actively discussing Algorand’s recent advertisement, with opinions varying widely. Some users have expressed appreciation for the ad, while others have criticized it, calling it a poor move.

One user, Sevendary.algo, compared different cryptocurrencies to superheroes, likening Algorand vs Solana to a matchup between Superman and Flash. They suggested that while Algorand can match Solana’s transaction speed, Solana will never match Algorand’s security and scalability.

On the other hand, another user, piccle, criticized ALGO’s performance compared to other cryptocurrencies, stating that holders are facing challenges and that Algorand is lagging behind in the current market, especially when compared to coins like Solana, Ethereum, and Bitcoin.