As we can see, the price chart of ALGO is almost similar to the price chart of Bitcoin, and its increase or decrease almost depends on the price of Bitcoin.

ass we saw the price of ALGO almost depends on the price of Bitcoin. the price of ETH is also depends on Bitcoin so then the both of them almost depends on Bitcoin.

In the last three months of 2021, as we can see, the price of ALGO was around 1.8 and the number of transactions was almost 2 million on average. Since the end of June, the price of ALGO has averaged almost 0.7, but the number of transactions has averaged 1.5 million and has not changed much compared to before.

We see a peak in the number of transactions from December 17th to June 7th, which I think could be due to the fluctuations in the price of Bitcoin, which caused the price of ALGO to reach 2.3 on June 14th. And after that, with the decrease in the price of Bitcoin, there was a downward trend.

According to the SOL charts, everything we said about the ALGO price is also true for the SOL price

The above graph is interesting for SOL and we can see that as the price of SOL increases, the number of transactions decreases and then with the price decrease, the number of transactions increases.

conclusion

According to what was said, the price of ALGO and any other token is almost related to the crypto market and especially the price of Bitcoin. And the number of transactions and assets, etc., may cause a change in the price of tokens in time frames, but in the end, they are highly dependent on the crypto market.