Algorand analytics are now available at IntoTheBlock
The new suite of ALGO’s dedicated analytics are free for anyone to access
Algorand is quickly emerging as a contender for the smart contract platform space. As crypto moves into a multi-chain world, Algorand is aiming to expand the market with a highly scalable, unforkable blockchain.
Founded by Turing Award winner Silvio Micali, Algorand works on a specific consensus mechanism called Pure Proof of Stake (PPoS), and aims to solve the blockchain trilemma by being secure, scalable and decentralized.
And given the remarkable growth and traction that Algorand and its native token ALGO are gaining over the past months, we are excited to announce that starting today, ALGO’s dedicated analytics are now available at the IntoTheBlock platform.
ITB ALGO’s Dedicated Analytics — free for everyone to access:
The new release of ALGO analytics includes a full suite of indicators divided into 7 categories:
- Financial Indicators: Which combines blockchain activity with price information to provide insights into ALGO holder's profitability, monetary value of transactions, and dominance of large traders, among others.
As can be seen in the graph above, ALGO’s Global In/Out of the Money indicator reveals that 86.28% of the holders are “in the money” or in a state of profit.
- Network Indicators: How’s ALGO network behaving in terms of user growth, transaction activity patterns, costs, etc.
As can be seen in the graph above, the number of ALGO holders (addresses with a balance) is currently at an ATH with 14.96m addresses, increasing by a whopping 95% YTD
- Ownership Indicators: a view of ALGO’s “capital stack” according to concentration and holding period.
The Traders indicator is useful to track new money flowing into ALGO, as it quantifies the number of buyers that have been holding for less than one month. As can be seen in the graph above, the number of “traders” has almost tripled since August, pointing out to new buyers rushing to buy ALGO.
- Exchanges Indicators: This category measures movements within exchanges to provide a near real-time view of ALGO’s trading activity. Each indicator refreshes every 1 minute.
The Exchange-Onchain Market Depth indicator provides helpful information about potential buying and selling interest from both an order book and blockchain perspective.
- Social Indicators: Yes, we also cover social sentiment for Algorand. Measure the Telegram and Twitter sentiment, development activity and search trends.
- Derivatives Indicators: Derivative markets indicators offer an overview of the fast-growing perpetual swaps and futures markets.
The funding rate is a fee charged to perpetual swaps holders depending on the premium/discount and the positioning of contract holders. In the case of ALGO, it has stabilized once again to neutral or negative number, meaning that people are deleveraging their positions
- Capital Markets: Compare ALGO against Stocks, Commodities, ETFs, Market Indices, and More. Evaluate ALGO relative to established market vehicles. Metrics include price performance, correlations, sharpe-sortino ratios, volatility, intra-day movements and many more.
ALGO or S&P500? While the S&P500 is showing a remarkable YTD performance of 25.15%, ALGO is vastly outperforming as the yearly returns go as high as 330.69%. Moreover, ALGO is showing little to no correlation with traditional market indices.
This is just the first step of our collaboration with Algorand, as more analytics will be added soon as well as a deep dive article on ALGO using these new metrics.
At IntoTheBlock, we are excited and honored to partner with such a reputable and known brand in the crypto space. Please visit the new Algorand analytics and let us know about your experience!
