Borderless Capital is a blockchain VC firm and a modern financial institution. It has reportedly planned to use its half a billion-dollar fund to support the next-generation decentralized projects on the Algorand blockchain.
Algorand is an open-source decentralized blockchain. It was launched by computer scientist Silvio Micali in the middle of 2019. The native token ALGO saw impressive growth and recognition in 2021, which led many to anticipate that it could be a worthy competitor of the popular altcoin Ethereum.
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What to Know About Algo-based Projects?
As mentioned above, Borderless Capital has announced the launch of an Algorand-focused fund worth $500 million. The Miami-based company aims to use the fund and support cryptocurrencies that power the leading-edge decentralized applications (DApps) on Algorand.
Borderless Capital announced the launch on Twitter by sharing this post.
The VC company specifically highlighted decentralized finance (DeFi) and NFT projects, noting that the NFTs will “disrupt the creator’s economy” while the funding into Algorand’s DeFi ecosystem will be boosted.
Arul Murugan, the founding managing partner at Borderless Capital, stated.
“Algorand is the most efficient next-generation blockchain software in the market right now, and it is the next frontier for investment opportunities and disruption,”
The $500 million fund announced by Borderless Capital is not the only Algorand-focused fund launched by the company. It also manages another Algorand-focused fund worth $400 million, which now adds to the newly launched fund.
According to reports, Borderless Capital a $10 million fund in early November. This fund is focused on a decentralized air quality monitoring network called PlanetWatch, which is built on Algorand.
At the moment, Algorand is the 36th largest blockchain in terms of TVL (total value locked) in DeFi worth $97.4 million.
That’s not all, ALGO, the native token of the blockchain is also noticeably doing well. It is currently trading at $1.89 (at the time of writing).
Here is a graph by CoinMarketCap that shows the price of ALGO in the last 24 hours.
As per the graph, the price of ALGO has increased around 7.31% in the last 24 hours. Even though ALGO is not one of the most prominent altcoins, it is anticipated to see some kind of price surge considering the initiative taken by Borderless Capital.
Which Digital Asset Should You Invest in?
There is a wide array of digital currencies available in the crypto market. While the top two crypto assets are Bitcoin and Ethereum, people are often interested in other altcoins as well.
The cryptocurrency you choose to invest in depends on your personal preference. However, it is important to always choose the best cryptocurrency exchanges available.
Therefore, whether you are interested in buying ALGO or popular digital assets like BTC or ETH, make sure you choose the crypto exchange with the lowest fees.
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