Algorand (ALGO), Avalanche (AVAX) See Hope, and Mushe (XMU) Soars


It’s been an interesting week for three of the most highly regarded new and forthcoming tokens. DeFi wunderkind Algorand (ALGO) continues to shake off a one-month slump, Avalanche (AVAX) re-established momentum after a selloff following an extended winning streak, and presale phenom Mushe (XMU) continues to give early investors reason to believe in its staying power.

Algorand established itself as a compelling option in the DeFi space with its move in late 2021 to a decentralized governance model. The switch includes a mechanism to actively reward holders for voting on governance matters, giving ALGO an especially strong base of investor support. The token continued a four-month surge into the new year, when like much of the crypto space, it experienced a prolonged slump.

ALGO got a big shot in the arm on May 3rd with the announcement of a new deal with FIFA. Algorand will partner with FIFA for the 2022 World Cup, and will be an official sponsor of the 2023 Women’s World Cup. The token surged nearly 25% on the news, reaching a two-week high and sustaining its new level of support into the week.

AVAX has head an even steadier run of success than ALGO, enjoying a three-month runup to a late-November high of nearly $135. Its cool-down has also been more gradual than those of AVAX and many other cryptocurrencies, but buyers may be returning to the speed-and-scalability standout. After seeing its price fall on lower volume throughout late April, AVAX experienced a notable jump in volume at the beginning of May, and both prices and volume continued to rise until the market wide slump on May 5th and 6th.

Investors will still need to wait two months until MXU’s July 4 launch, but early buyers are already being rewarded with a sustained run of performance. The very first investors in XMU paid $0.005 per token, and have seen their investments more than quadruple to nearly $0.024. 

This steady appreciation of value coincides with a stream of good news about Mushe’s broader infrastructure. The latest development was this week’s announcement that Mushe and XMU will be moving from the Ethereum blockchain to Solana and Stellar—the former for the development of Mushe’s metaverse, the latter for most of XMU’s financial capabilities.

If anything, this week goes to show that time-honored principles apply even in the cryptocurrency sphere. While crypto companies seem to break new technological ground every day, strong governance, financial value, and proof of concept are still enormously attractive to investors, whether they make their decisions with fiat currency or crypto tokens.

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