Algorand (ALGO) price surged 23% within 24 hours, mainly driven by Google’s quantum AI whitepaper, with Algorand cited multiple times. The 24-hour trading volume jumped 429%, drawing institutional investors’ attention. The ALGO price rebounded to $0.1052, still below its all-time high, so the market needs to closely watch the subsequent trend.

On April 1, among the top 100 cryptocurrencies by market cap, Algorand had the largest gain, up 20.41%; Midnight had the largest decline, down 10.46%. Other tokens with relatively high gains include Sei and Venice Token, while the top five decliners include Canton and Chiliz.

Gate News reports that on March 24, Swiss postal service-owned bank PostFinance added support for Layer 1 blockchain Algorand. Users can now purchase ALGO tokens directly through their bank accounts without needing to set up a wallet.

Algorand Foundation announces 25% workforce reduction to address economic uncertainty and market weakness, causing ALGO token price to decline approximately 6%, now trading around $0.09. Despite the staff reduction, network activity remains stable, with quarterly transaction volume growing 4.7%. This restructuring aims to optimize resources and ensure long-term sustainability. Overall, it reflects the pressure and adaptation trends in the crypto market.