ALGO Crypto Prices Are Not The Main Focus, Says Algorand Foundation CEO

ALGO Coin. (Photo; Doc. The Coin Republic)

JAKARTA ALGO is currently trading at IDR 2,200 per coin. In the past week, the price performance recorded a decrease of 7.9 percent in the past week.

Not long ago, the CEO of the Algorand Foundation, Badminton, considered that prices were not the main focus. This statement was conveyed by kapitin in an interview with Real Vision Crypto. According to him, it is not a matter of price but the size of which is the extent to which the Algorand Foundation has succeeded in attracting developers into the Algorand ecosystem.

Earlier, last month, the Algorand Foundation as the entity responsible for the development of the ALGO coin, along with Algorand Inc, was faced with lawsuits related to crypto regulations related to securities status. Pribettir instead issued a surprising statement regarding securities legal issues considering his company is outside US jurisdiction.

Not only that, butANGI also commented on other issues related to hacking the Algo crypto wallet, MyAlgo Wallet, which occurred in February 2023. The Algorand Foundation injected grant funds to the developer of the ALGO crypto wallet. On the other hand, there were no clues to the cause of the hack after a forensic investigation. So this issue was handed over to the FBI.

In the conclusion of the interview, gubernatorially stated that Algorand is a young ecosystem that doesn't focus too much on hype. They prefer to focus on developers, protocols, and follow the "strategy from the bottom up."

Throughout 2023, the price of ALGO recorded a disappointing performance. ALGO fell more than 60 percent, based on Coinecko data.