High volatility is something that has become associated with the crypto market. However, when the momentum is bullish most cryptocurrencies tend to benefit from the trend, but that has not been the case with Algorand (ALGO) lately.
Despite the predominant bullish trend, Algorand has struggled to break out from the grasp of the bears. Meanwhile, investors are flocking to a new project in presale, that holds so much promise it could change an entire industry.
Algorand (ALGO) Struggles After Bittrex Lawsuit
Algorand (ALGO) is an exciting project as it builds the next generation of finance by creating a platform to converge decentralized & traditional finance. This makes Algorand (ALGO) more than just a regular payment processor.
In a Securities and Exchange Commission (SEC) lawsuit filed against a cryptocurrency exchange, Bittrex, the exciting Algorant (ALGO) was listed as an unregistered security along with five other cryptos listed on the exchange.
Of the tokens described by the SEC as unregistered securities, Algorand (ALGO) is by far the largest by market capitalization and capitulates the unstable market for Algorand (ALGO), which has already been bearish.
As is common in the crypto industry, the bearish sentiment of Algorand (ALGO) fostered by a SEC lawsuit means investors are looking for alternatives, with many rushing to back Sparklo a new promising project in presale.
Sparklo Gains Momentum in Stage One Presale
Sparklo is in stage one of its presale but is showing more momentum than some more established digital assets. The reason for the huge momentum boost is the problem Sparklo solves and how big its use case can get in the future.
Sparklo is building what will become the crypto industry’s first precious metal trading platform. Sparklo seeks to allow investors to buy fractions of precious metals – silver, gold, and platinum.
Using blockchain technology, Sparklo will allow investors to buy any amount of gold, silver, or platinum they want, solving the accessibility and affordability issues limiting the metal investment market.
As the potential of Sparklo, the platform will have access to the $1.42 trillion global silver market cap, the $13.3 trillion global gold market, and the $273 billion global platinum market – possibly more than any crypto project has ever had.
This is the major reason why investors rush to buy the first stage of Sparklo which currently sells for $0.015. The platform has also gained the trust of users as it has completed an audit by the InterFi Network to assure users of its smart contracts and reserves.
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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Source: https://coinpedia.org/press-release/algorand-struggles-to-recover-investors-rush-to-buy-stage-one-of-sparklo-presale/