TL;DR
- Algotech is now in its third presale stage and has raised more than $3.7 million so far.
- The broader crypto market has performed well this week, with BTC now trading above $70k.
The broader cryptocurrency market has recovered from last week’s poor performance. BTC is up by more than 5% in the last seven days and could soar higher in the near term.
At press time, the price of Bitcoin stands at $70,287, up by more than 1% in the last 24 hours. Thanks to the positive performance, other major cryptocurrencies are also trading in the green.
The Algotech presale also continues to move excellently, with the third stage now 14% completed.
What is Algotech?
To understand why the Algotech presale is moving fast, it is crucial to know what the project is about. Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading.
It is ideal for retail traders thanks to the advanced algorithms and machine learning features available to them.
Algotech is bringing AI features to traders as it seeks to eliminate the limitations and challenges associated with manual trading. In addition to that, the platform’s algorithms are fast, smart, and accurate, enabling traders to execute precise and consistent investment strategies.
Algotech’s AI and crypto trading features
The total cryptocurrency market currently stands above $2.5 trillion and is expected to double before the end of the year. As the trading volumes increase, crypto traders need to develop their edge to enable them to make a profit.
Algotech could help traders build their edge in the market. Per their whitepaper, the platform’s advanced algorithms analyze assets across over 1000 unique data points to identify the next breakout opportunities.
Thanks to the platform’s algorithms, traders can make split-second entry decisions for high-precision trading. Algotech monitors market funding levels, availability, liquidity and spread. This helps reduce risk for traders.
The AI-based trailing stops also make it easier for traders to manage risk and protect their capital.
Arbitrage opportunities are also possible thanks to the advanced AI tools offered by Algotech. Finally, the platform provides access to trading strategies, community resources, and trading education.
Will Algotech grow stronger?
Algotech has the features to become a leading project in the AI and DeFi ecosystems. If Algotech rolls out its features and products, it could attract thousands or even millions of traders in the crypto space.
According to their whitepaper, Algotech will issue 350 million ALGT tokens. 10% of the tokens have been allocated to R&D and funding for testing, durability and performance on the current and new algorithms.
The team allocated another 10% for the support in promotion and bounty to partners. The founders will hold on to only 7% of the total supply while the team gets a 3% allocation. Finally, 70% of the total token supply is available for public sale (including marketing).
ALGT holders will enjoy certain incentives such as a percentage of trading fees. The token grants governance rights in the Algotech community, meaning each individual can affect the platform’s important decisions.
Should you buy the ALGT tokens?
The Algotech presale is currently in its third stage and has raised more than $3.7 million within a month. In this stage, the ALGT token is going for $0.08, with more than 86,000 tokens sold so far.
The ALGT token will power the Algotech ecosystem and early investors could benefit from the token’s utilities.
Algotech could gain massive adoption in the market and this could see ALGT’s price soar higher in the medium to long term. The platform presents traders with multiple arbitrage strategies that enable the platform to earn profits by exploiting price discrepancies across several exchanges.
Token holders will receive a certain percentage of platform trading fees. They will also participate in governance votes, proposals and potential airdrops in the future.
Read more about the Algotech presale here.