Algorand Price Sputters at $0.14 as Sellers Dominate

Algorand's price surge to $0.14 was short-lived, driven by speculative activity rather than sustained demand.

The altcoin faced rejection at $0.14 and fell to a low of $0.12, down 10% on the daily charts.

With intense selling pressure from investors who had become risk-averse or bearish, Algorand's derivatives volume dropped 67% to $129 million, while Open Interest (OI) decreased by 20% to $76 million.

The spot trading volume fell 28% to $224 million as investors moved to the sidelines, suggesting reduced market activity and a lack of risk appetite.