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Algorand (ALGO) price drops 10% amid lower derivatives activity after AI payments challenge ends

Market News
30 Sep 2026
Tokenpost
View Source
Bearish
Algorand (ALGO) price drops 10% amid lower derivatives activity after AI payments challenge ends

Algorand's token ALGO fell about 10% to around $0.12 after briefly reaching $0.14, reflecting a pullback following a recent rally. Derivatives open interest and volume both declined significantly, indicating weaker trading activity. The price movement coincided with the conclusion of Algorand's Global x402 Challenge, a competition focused on AI agent payments with a $100,000 prize pool and 500,000 ALGO rewards. While the challenge drew attention during ALGO's price rise, it is unclear if it directly caused the increase, and the token now faces pressure amid broader market trends affecting institutional infrastructure tokens.

Algorand's ALGO token is currently trading at Rp2,227 on Pluang, down 6.35% in the last day. The market cap stands at Rp20.17 trillion with a 24-hour trading volume of Rp3.92 trillion. This data is as of Sep 30, 2026 17:21 WIB.

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