Algorand (ALGO), Ivy Life (IVY), and Phantom

How are the coins? Algorand (ALGO), Ivy, and Phantom Performance within the crypto market? In this article, we take a look at the latest updates on pricing and news that consider them champions.

Algorand cryptocurrency price compared to IVY and Phantom

The recent decline in the price of gourand (Cancel), which saw a 20% decline last week, has caught the attention of traders and investors.

Despite the highest level reached in several years at $0.613 At the beginning of the month, the price has now settled at $0.371, highlighting a significant trend reversal. This decline is accompanied by a series of market dynamics that affect overall sentiment.

One interesting aspect is the increase in active addresses, which almost doubled in just 24 hours 104,000 to 190,000.

This increase can be attributed to traders liquidating their positions to reduce losses and to new operators looking to profit from speculative market action.

However, the increased activity did not translate into improved sentiment, as the profitability of active addresses collapsed from 57% to 16% in just two weeks.

This decline indicates that many participants in the previous rally are now selling to limit losses or preserve profits, contributing to fueling the trend. Hold feelings.

The technical context also highlights increasing selling pressures. Indicators such as Chaikin Money Flow (CMF) and Balance Volume (OBV) reflect the dominance of sales over purchases, with the price moving within a descending channel.

Violating the lower line of the channel may accelerate further declines, while a break above the resistance level may provide an opportunity Hopes for recovery.

Meanwhile, Algorand’s DeFi ecosystem saw a major setback, with the total value locked (TVL) dropping from $245 million to $165 million in three weeks.

This decline amplifies negative sentiment, as declines in GVA tend to reflect a decline in confidence in the ecosystem.

In other words, until signs of recovery in DeFi or profitability are observed, the outlook for Algorand remains in a strong downtrend.

Ivy Life (IVY): Price declines and market outlook

In the last 24 hours, Ivy Live (IVY) recorded a trading volume of $4,637.63, Recording a decrease of -3.50% compared to the previous day, which reflects a decrease in market activity.

Currently, IVY price is 84.80% below its all-time high of $0.00001322, which was reached on August 24, 2023.

However, the current price is much higher by 1,336.61% compared to the all-time low of $0.061399, recorded on July 2, 2024.

The fully diluted valuation (FDV) of IVY, calculated assuming the full issuance of all 500 billion available tokens, amounts to $1,005,051.

However, the full realization of FDV may take years, depending on the speed of token distribution.

In terms of recent performance, IVY saw a decline of -18.90% in the past week, which is an underperformance of both global indices. Cryptocurrency The market, which recorded a decline of 11.60%, and the BNB Chain ecosystem, which remained stable.

This trend reflects a critical moment for Ivy Live, as the market needs signs of recovery to restore confidence and stimulate investor interest.

Phantom Wallet integrates with the Sui Network: a step forward for the multi-chain ecosystem

In a strategic move, the Sui Foundation announced that Phantom Wallet, one of the leading non-custodial multi-chain wallets, will officially support the Sui Network.

With nearly 7 million monthly active users and over 560 million cross-chain transactions recorded this year, Phantom stands out as a leader in the Web3 scene.

With advanced features like staking, in-app token exchange, NFT support, integration with Ledger hardware wallet, and full multi-chain support, integration with Sui represents An important milestone.

This collaboration marks a pivotal moment for the Sui blockchain, which joins Solana, Bitcoin, and Ethereum as a network powered by Phantom.

Jamil Khalfan, Global Head of Sui Ecosystem said:

“The Phantom Wallet integration represents a giant step for the Sui ecosystem, providing users with a first-class wallet experience.”

Available as a browser extension and mobile app, Phantom will provide Sui users with a secure and versatile solution.

CEO of Phantom, brandon millman, He praised Sui’s innovative approach to scalability and developer support, and highlighted the mutual commitment to high-performance blockchain.

The integration highlights growing interest in multichain solutions, with Sui’s market capitalization rising more than 100% in the past month.

The factor that drove blockchain to a $1.5 billion TVL and cemented it as one of the most promising networks in the tier-1 scene.