Algorand’s adoption surges 62% – Is a $0.19 breakout possible?

• The new adoption rate of Algorand hit 62%, the highest since January, and follows a 32% monthly average.
• ALGO’s price action has been confined to a huge triangle pattern since the 3rd of December 2024.

Algorand [ALGO] hasn’t impressed in terms of price recently, but its on-chain story tells a different tale.

The altcoin has been in a free fall since the end of a rally had started in November following U.S. elections hype that saw most coins surge.

With the adoption of blockchain technology in various real-world applications, it is worth exploring why the adoption rate of Algorand is increasing.