Swap Algorand (ALGO) to Tether USDt (USDT)

Compared to most of the assets on the crypto market, the Algo token has been showing a pretty stable course since the beginning of March 2022. From the middle till the end of the month ALGO to USDT exchange rate grew by 30% and reached 0.94. The Algo/USDT trading pair price chart stayed stable for the next 6 days and then dropped to 0.77 on April 7. 

Till the end of the month, the Algo token was maintaining this price level without significant drops and rises, but the Algo to USDT conversion rate was slightly declining and reached 0.67 by April 29. 

Following the crash of the prices of the major crypto assets Algo token also lost some value to USDT at the beginning of May. After trading at the level of 0.58 USDT, the Algo token went up, showing some nice gains in the first week of May. Even though it couldn’t resist the overall downtrend and on May 10 to swap Algo with USDT users had to pay only 0.38. The price chart then recovered to the level of 0.48 and continued, bouncing between 0.48 and 0.43 during the next week. 

On May 19 the Algo to USDT conversion rate dropped to 0.43 and continued to decline as the Algorand token followed the bearish tendencies of the crypto market. By May 29 Algo token price in USDT was 0.36. At the beginning of June, it slightly rose to 0.4 but went down to 0.29 with the new market drop.