Algorand (#ALGO ) has been ranked among the top 200 cryptocurrencies in terms of market capitalization as one of the 15 Decently performing crypto assets of the last year.

Algorand (ALGO) has been ranked among the top 200 cryptocurrencies in terms of market capitalization as one of the 15 Decently performing crypto assets of the last year. Along with other digital assets such as The Sandbox (SAND), Flow (FLOW), Flare (FLR) and Wemix (WEMIX), ALGO's adventure in the crypto market has been full of ups and downs. In particular, ALGO, which fell to a historic low of $ 0.0838 on August 17, surprised its investors with this situation.

The attitude of Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), was cited as one of the factors that caused ALGO's decline. Crypto market analyst Ali Martinez ironically thanked Gensler for his work to "protect investors" with a post on Twitter. Martinez shared Gensler's comments during a speech at the MIT Sloan Idea Exchange in 2019, praising Algorand and its founder Silvio Micali.

However, Gensler's positive comments were short-lived. Because ALGO has become one of the crypto tokens targeted by the SEC in the lawsuits it launched against Binance and Coinbase in June. After these cases, it was seen that Algorand reached an all-time low.

In the wake of this situation, many in the crypto industry have taken issue with Gensler's previous statements and the SEC's subsequent actions against Algorand, accusing Gensler of being a former supporter of Algorand and Micali. These events caused a significant change in ALGO's market performance and greatly influenced the decline in the value of the cryptocurrency. Such events have once again demonstrated how quickly the crypto market can change and how careful investors in this area should be. #Binance #BTC