The SEC says a lot of things are securities. It doesn’t mean that you can’t make handsome profit though. I don’t think Algorand is going to change the world & become like Bitcoin for example but you could absolutely still do well in it. It’s a pure proof of stake smart contract blockchain & we have seen growth in its ecosystem. While it has some unique features like accessible staking and low transaction fees it faces challenges such as centralisation & tokenomics. It's too early to definitively say if it has a big future but patient investors can find opportunities in its long term growth. Some people say it’s promising due to its technology, I would consider it a good buy but maybe not a super long term HODL.
Of course. SEC chairman Gary Gensler believes most cryptocurrencies are securities. Either he doesn't truly understand how crypto/Blockchain tech works, or he is just pretending to minimize the growth of the industry as much as possible. Approving spot Bitcoin ETFs was a "miracle", considering how the regulatory agency kept denying applications for years.
Algorand could have a place in crypto land if it delivers as promised. But if there's no innovation, don't expect it to stand up against well-established players (ETH, SOL, BNB) with a huge number of supporters behind them. The market often behaves in many strange and bizarre ways, so anything's possible. Who knows how far will Algorand go?
