Did the founders of Algorand criticize Solana? ALGO’s credibility has the answer

The founder and CTO of Algorand have both indirectly made strong Remarks about Solana to compete for Helium Network’s early migration.

Now, you might wonder if this recent development coupled with Algorand’s massive focus on social media has helped Algorand’s price.

Well, earlier this month the Helium Network announced in a blog post, that they proposed to move their network to Solana. This, in order to improve the efficiency of their network.

Alas, the news was not well received by the people of Algorand.

In a recent development, Algorand CTO John Woodstook to Twitter to criticize the Helium Network’s move to Solana.

Algorand’s CEO joined the conversation, indicating that Algorand is ready to support the Helium network. Thus, calling their blockchain network secure, scalable and decentralized.

This development caused a stir in the crypto community. And, interestingly, it has contributed to Algorand’s already growing social media presence.

No bad publicity?

In the last 24 hours of news, Algorand’s social media activity has seen a huge spike. According Lunar Crush, there was a 299.7% increase in ALGO’s social dominance and a 105.8% increase in its social engagements.

But that’s not all, mentions of ALGO on social media have also increased by 49% in the last month.

Tweets on the Helium network could be one of the reasons for the increase in daily activity on social networks. But Algorand has been in the news for quite some time. Not to mention, recently they had a $35 million exposure to crypto lender Hodlnaut.

Despite the negativity surrounding the token, Algorand dominated social media. Its credibility on the street might as well help the price of the token rise in the near future.

Another encouraging development that has occurred over the past few days is the increase in ALGO development activity.

The metric has seen a gradual increase since September 10. Thus, suggesting that the developers are working on new updates and improvements.

Source: Santiment

However, one of the main concerns for Algorand investors could be its volume.

ALGO’s volume has seen a lot of volatility over the past seven days. It depreciated by 63.68% last week.

The token’s market cap dominance also took its toll as it fell 5.18% in the past week.

Source: Messari

Algorand, at press time, was trading at $0.3205 with a price appreciation of 12.51% over the past seven days.

Despite the fact that there are multiple positive factors behind Algorand’s support, readers should be careful before entering a trade. Searching for the new from Algorand upgrades better understanding the asset would be a wise decision.

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