Algorand [ALGO] inches closer to $2B market cap recoup, details inside
ALGO, whose network supports a wide range of blockchain-based applications, had struggled to remain in the limelight since its 75.91% drawdown from its ATH. But like other assets, the new year brought it some sort of respite.
But before the hike, Algorand Foundation took steps to lengthen where the project operated. And according to, India was its next stop. The move to have an Indian wing was to help Algorand achieve three of its primary objectives. As reported by the local media, the blockchain aims to expand its developer base by offering real-world utility. It also considered investing in India’s web3 ecosystem.
The expansion, also known as AlgoBharat, would also foster strategic collaborations between Algorand and major Indian blockchain players. Meanwhile, the foundation’s Vice President Anil Kanani also commented on the development.Kanani, who acts as an adviser for India at the U.S. Treasury, noted that the web3 ecosystem in the country was already active. And this formed part of the reason the Foundation decided to establish a franchise there.
The move represents the second major announcement by Algorand this week. Earlier, the project announced that it was working to
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