Search results for "ALGO"
2026-03-19
07:59

Algorand Foundation lays off 25% of its staff, ALGO price drops 6% to $0.09

Algorand Foundation announces 25% workforce reduction to address economic uncertainty and market weakness, causing ALGO token price to decline approximately 6%, now trading around $0.09. Despite the staff reduction, network activity remains stable, with quarterly transaction volume growing 4.7%. This restructuring aims to optimize resources and ensure long-term sustainability. Overall, it reflects the pressure and adaptation trends in the crypto market.
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ALGO1.87%
OP2.65%