Algorand Price Jumps 16% as Altcoin Market Cap Surges

Algorand's [ALGO] token price has surpassed its 20-week moving average for the second time since September 2025, and this week has started with a bang.

The ALGO crypto price is up nearly 16% for the day, with a daily trading volume explosion of 204% and an Open Interest surge of 43%. This follows strong interest in altcoins over the month, with the altcoin market cap (including Ethereum) up 33% since the second week of August.

The spot CVD was rising to show steady spot demand, but the funding rates had fallen into negative territory, presenting a short-term problem for ALGO crypto bulls. However, this could also lead to a squeeze as further price moves higher can liquidate these short sellers.