Details about Wrapped ALGO cryptocurrency
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Wrapped ALGO price charts
XALGO exchanges
Wrapped ALGO, the crypto
Wrapped ALGO (XALGO) is an ERC-20 token that represents Algorand's native cryptocurrency (ALGO) on the Ethereum network. It allows ALGO holders to directly interact with decentralized finance (DeFi) apps on Ethereum and participate in yield farming and other DeFi activities.
The point
The main point of Wrapped ALGO (XALGO) is to provide interoperability between the Algorand and Ethereum blockchains, allowing ALGO holders to access the features and benefits of the Ethereum DeFi ecosystem without having to sell their ALGO tokens first.
The problem
The problem that Wrapped ALGO (XALGO) tries to solve is the lack of interoperability between different blockchains. By creating a wrapped version of ALGO on Ethereum, it enables ALGO holders to access the liquidity and benefits of the Ethereum DeFi ecosystem without giving up their ALGO tokens.
Compare XALGO and BTC performance
| Timeframe | XALGO | BTC |
|---|---|---|
| 1h change | 0 % | -0.0400366 % |
| 24h change | -4.95 % | -1.35339 % |
| 7 day change | -24.49 % | -4.88361 % |
| 14 day change | -26.75 % | -4.14321 % |
| 30 day change | -37.24 % | -2.17976 % |
| 200 day change | 143.36 % | 127.499 % |
| Year change | 47.89 % | 127.673 % |