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Wish you bought Litecoin and other top alts at mid-2017 prices? Here’s your second chance

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Several crypto assets are currently priced near their mid-2017 valuations, potentially offering a second chance to latecomers. One major caveat, however — these assets may never reach their highs again, or even rise at all from here. Buyers beware and do your own research. 

Litecoin (LTC) sat at a price of around $33 on June 11, 2017, according to a historical snapshot from CoinMarketCap. Its current press time price trades slightly higher, at around $46 — a dramatic difference from its all-time highs near $365. 

Ethereum (ETH) held a price of $340, just $2 away from its current press time price near $342. Ripple’s XRP hosted a $0.27 price tag. Currently, the asset actually boasts a lesser price at $0.23 per coin. 

Zcash (ZEC), on the other hand, cost $331 per coin back then. The asset currently trades near the $54 mark, a far cry from its former glory.  

Crypto has provided second and third chances at wealth through the years, although second chances sometimes come in different shapes and sizes. Just because these assets carry prices similar to years prior, it does not mean that those assets will ever see any price increase from here whatsoever.

Decentralized finance, or DeFi, appears to be a current early adopter category within the crypto industry. Many assets involved in the sector presently see obscenely bullish price action while participants seek high interest rates in tandem with loans and other speculatory activities. This sector, however, is also quite risky and complicated. Opinions vary on the viability of the DeFi niche as a whole. 



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Algorand (ALGO) price strengthens as institutional investors back the project

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Consolidation periods tend to follow strong rallies but they also present a good opportunity to survey the field and evaluate projects that have strong fundamentals.

One project that continues to gain traction in terms of price recovery and network adoption is Algorand (ALGO), a pure proof-of-stake (POS) blockchain network that has secured new partnerships and real-world use case applications, as well as support from multi-million-dollar funds in recent weeks.

Big funds invest in Algorand-based projects

Raising funds is one of the biggest challenges many projects face and in the last month the Algorand network announced that Arrington Capital, a digital asset manager, had pledged $100 million in funding meant to help accelerate additional development across all facets of the smart contract platform.

This development came on the heels of the June 2 announcement that Borderless Capital, a venture capital firm, had created a $25 million fund aimed at supporting Miami-based blockchain startups developing digital payment solutions on the Algorand network.

Related: Exodus Wallet raises almost $60M in crypto in regulated offering

New partnerships lure investors

A scroll through the Algorand Foundation Twitter feed shows a growing list of cryptocurrency projects across a variety of sectors that have joined up as part of the Algorand community to take advantage of the low fee, POS environment.

The nonfungible token (NFT) sector is showing some interest in the network following a partnership with Curate that will allow for the minting of NFTs as well as the release of a bridge by Curvegrid that will allow businesses to build NFT and blockchain technology into their business and consumer mobile applications.

Other recent examples of adoption include a partnership with the Bermuda-based MAPay healthcare payment solution, which will host its payment solution on Algorand blockchain in an effort to improve efficiency and reduce healthcare costs, as well as a partnership with Xfinite and Eros Now to create a blockchain-based content engagement platform for the 224 million registered users of Eros Now.

These new partnerships come after a busy year for the network which also included the integration of USD Coin (USDC) and Tether (USDT), the two largest stablecoins in the cryptocurrency ecosystem. 

The growing list of network partnerships and investments from players in traditional finance suggests that ALGO is well-positioned to see future growth as the blockchain sector sees continued adoption and the crypto market recovers from it recent sharp correction.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.