My Favorite Highlights from Decipher

Algorand is only going up from here

Algorand is having a big week.

It’s no secret that I’m a fan of this cryptocurrency. I got on the Algorand train back in the spring, and once I jumped on, I didn’t look back. I think this project is undervalued, underappreciated, and underestimated.

Algorand operates on proof-of-stake, has minimal transaction fees, is lightening fast, is carbon neutral, and was developed by some of the biggest brains out there.

And I’m only speaking in the broadest, most general terms. Get into specifics, and things get even better. The project is becoming a hot place for NFTs, there are several tokens that operate on top of Algorand, and even a budding social network has found a home on that blockchain.

I could add more—but I don’t feel like doing that right now. Look for expansion on some of those projects in later newsletters. I promise, I won’t let you down!

As for current price action, the Algorand and its native currency, the ALGO, are trading in the $2 range right now, and are up 525% over the year.

On Monday and Tuesday of this week, the folks associated with this project held a huge conference in Miami (What a town—did you see Art Basel is also going on there this week?).While I wish I could have attended Decipher in person, instead I had to keep up with from afar this year.

But here are a few highlights that caught my attention:

• Decentology added Algorand to the Hyperverse

  • The Hyperverse is a smart contact platform. The big goal is to make decentralized app creation quicker and easier. The Decentology folks say adding Algorand to the mix will make this even better for developers.

• Algofi has raised $2.8 million in seed funding for a decentralized lending market

  • I think Algofi is one of the most interesting projects being built on Algorand. It’s a blockchain bank, and announced at Decipher that it had raised $2.8 million to start a new kind of lending market.

• ClimateTrade announced the creation of the Green Treasury, a platform to allow Algorand and developers associated with it a way to offset the platform of the Algorand network

  • We can all do better when it comes to energy usage, and it never hurts to add a little “saving of the planet” to the mix. Algorand already does a great job when it comes to the reduction of carbon emissions, but the ClimateTrade announcement goes a step further. That’s fantastic.

These are just three things that I liked, and I think Decipher was overall a successful conference. The team also booked a myriad of A-list speakers, and holding the event in Miami right before Basel was a shrewd move. Going forward, I hope Algorand and the Algorand Foundation build on some of this good buzz. In fact, its imperative that they do this. Marketing is critical.

Get the message out, or perish.

For a long time (and in crypto, months is a long time) I wondered why more investors didn’t seem to know about Algorand, and why other blockchains with less potential and far less usage seemed to be getting all the buzz. The fact was—Algorand had hardly any marketing. Nobody was around to hype it up, or to explain why an investment in the $ALGO made a heap of sense.

While this was great for the people who did notice all the potential (they got in when the $ALGO was dirt cheap and many say it still is), the lack of marketing was bad for the overall project. Algorand can’t rest on quality alone.

But after Decipher, I have a lot more hope.

The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.