A well-known cryptanalyst claims that Ethereum (ETH) ‘s main competitor, Algorand (ALGO), is showing several worrying signs. Citing research by crypto analytics firm Messari in a new YouTube video, the Invest Answers host tells his 444,000 subscribers that large owners own 99.7% of Algorand, a much higher ratio than other ETH rivals like Solana (SUN). Let alone for what happened.
It will be around 20%. And that equates to the current largest Ethereum holders.
The moderator also notes that Algorand has almost 79,000 daily active users, which he says is “not bad.” But that doesn’t tell the whole story, according to the analyst. “If you look at the trend over the last 12 months, it’s flattened out… Zero growth sucks for me, especially in an area like cryptocurrency, which is growing so fast that Algo is trading at $0.26 as of this writing. The 30th-ranked crypto asset by market cap is up 7.51% in the last 24 hours.be adopted quickly and so quickly.” Additionally, the Invest Answers host says Algorand inflation is another possible negative factor.
“In September 2021, inflation was 19.42%. In the last 365 days, it’s been exactly 16%, which is high. Not the best, but not the worst either.