Algorand introduces a groundbreaking staking reward program with real-time payments and no slashing penalties, attracting investors and whales alike. The new system, coupled with a positive market sentiment, has propelled ALGO's price upwards.
Algorand 's blockchain has implemented a new staking reward program following a consensus mechanism upgrade. This program provides real-time block rewards to validators who successfully propose blocks to the Layer 1 blockchain. Validators will receive 10 ALGO per block initially, which will decrease by 1% for every millionth block proposed. Additionally, they will earn 50% of the transaction fees associated with those blocks.
This new system contrasts with the previous passive rewards distribution model, tied to the pure proof of stake consensus mechanism, which gradually released rewards based on a declining inflation schedule.What sets this new staking program apart is the absence of slashing penalties and restrictive token lockups, unlike staking on platforms like Solana, Ethereum, or other chains. Validators will have full access to their funds at all times. Furthermore, the program is non-inflationary, meaning rewards will not impact the total ALGO supply or negatively affect the altcoin's price.This development has already had a positive influence on ALGO's price charts. At the time of writing, ALGO was trading at $0.42, representing a 6.02% increase over the past 24 hours. This surge is attributed to a growing bullish sentiment across the market. Algorand's weighted sentiment has remained positive for the past three days, indicating that more investors hold a favorable view of the altcoin compared to those with negative perceptions. This positive sentiment is particularly strong among whales, whose activity has increased by 60% in the last 24 hours. A further indication of bullishness is the dominant demand for long positions, with Coinalyze reporting that longs account for 72% of the market, while shorts represent 27%. This 2.66 ratio suggests that most investors are optimistic about ALGO's future price performance. By implementing this new reward scheme, Algorand is positioning itself for further growth and development. Favorable market sentiment often translates into better performance for the altcoin, and the current positive outlook surrounding ALGO suggests potential for further gains. If this positive sentiment persists, ALGO has the potential to reclaim the $0.47 price level. However, a market pullback could lead to a dip to $0.38.
ALGORAND Staking Rewards Blockchain Cryptocurrency Market Price Surge Bullish Sentiment
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