Almost everyone is at a loss in the altcoin praised by the SEC president: Is it a buy signal?

Praised by SEC Chairman Gary Gensler, altcoin was recorded as the project with the most loss-making investors.

It revealed the cryptocurrency project with the most loss-making investors.

According to the data, it was understood that 90% of Algorand (ALGO) investors lost money. It was stated that 2% of ALGO investors are in a break-even position at the current price, while only 7% are in profit.

Algorand was founded in 2017 by Silvio Micali, a computer scientist and professor at the Massachusetts Institute of Technology. SEC President Gary Gensler was full of praise for Algorand when he taught at MIT Sloan School of Management in 2018 and 2019.

At the time Gensler was talking about ALGO in 2019, the price was around $3.5, which is very close to its all-time high. Over the past 5 years, ALGO has lost about 95% of its value. Over the same period, the top cryptocurrencies Bitcoin and Ethereum showed rise by 612% and 860%, respectively.

According to the data, ALGO, which has rise 2% in the last 24 hours, is trading at $0.17 at the time of writing.