Major South Korean crypto exchange Upbit announces the listing of ALGO token. More so, Users now have access to buy the Algorand token using their local currency, KRW.
Consequently, The ALGO price tops out at 75% to reach the $2.93 level in a single hour on the news.
However, the spike lasts a little time as it retraces to around $1.85
Meanwhile, ALGO is still 48% down from its June 2019 all-time high of $3.56. Of course, this is despite staging a surge to a yearly peak of $2.38 in mid-September of this year. Also, this spikes comes after a $100 million sponsorship deal between Algorand and the Drone Racing League.
About ALGO
So, Algorand is a scalable high-speed blockchain, supporting smart contracts and is on proof-of-stake consensus.
Furthermore, Upbit also lists AUDIO at the same time as ALGO. So, AUDIO is the native token of Audius, a decentralize music sharing and streaming protocol. Notably, it handles content transactions directly between listeners and creators without intermediaries.
Lastly, AUDIO prices spikes 55% within an hour or so of the listing announcement to $3.58.
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