Algorand (ALGO) Spikes 25% as Stablecoins Hit New Highs

Algorand ALGO is the day's breakout star, jumping 25% after announcing a United Nations partnership to tokenize carbon credits This green blockchain is turning head,s blending eco goals with top-tier tech X posts like one from @og_thanatos at 17:03 PDT on March 20 called it early and by 1:29 AM PDT today ALGO was unstoppable

Algorand price is the day's biggest mover among the major cryptocurrencies, rising 25% to hit a seven-week high on Monday. The token's gains come after Algorand announced a partnership with the United Nations to tokenize carbon credits.

This development is likely to bring about significant changes in the domain of climate finance, and it showcases the speed at which green blockchains are becoming a force to be reckoned with in 2024.

For those interested in the best crypto coins for 2025, Algorand's integration with the UN spotlights the potential of blockchain technology to create a positive impact on the world.

Meanwhile, stablecoins are also making headlines today, with Ripple's CEO predicting "dramatic" growth for the coins in the coming year.

His predictions come as the latest data from IntoTheBlock reveals that stablecoin supply has reached $219 billion this week.

This figure marks a new all-time high and compares to $187 billion in April 2022, the previous record high which came at the peak of the last bull market.

At the time, the high signaled the beginning of a downturn for the crypto market, which saw Bitcoin price plummet by more than 50%.

However, today's stablecoin surge is a different story. It speaks to the strength of the ongoing mid-cycle rally for the crypto market, which still has plenty of room to grow.

Stablecoins have been a hot topic in recent crypto news, with Gemini reportedly planning to launch its own GUSD 20 token to rival Tether's and USDC.

Moreover, Binance's decision to phase out USDT in the E.U. has also boosted decentralized platforms like PancakeSwap, where CAKE price has shot up by 57% this week.

As stablecoins continue to flex their muscles in the market, they will be a key focus for those researching the top crypto coins for 2025.

In other crypto news today, Bitcoin price stays put at the $83,000 mark with a 3% gain in the past 24 hours.

The crypto is now up 105% year-to-date (YTD), and rumors of a U.S. Bitcoin reserve are swirling again after a leaked Trump crypto update by Forbes.

Ethereum price, on the other hand, is down 52% from its $4100 peak in December 2024. However, the token rose 1.5% today as stablecoin inflows continue to support the market.

Lastly, reports from VanEck predict BTC could hit $180,000 and ETH $6000 by year-end, while MicroStrategy's move to snag 130 BTC last week showcases corporate interest in the crypto.

Those following the crypto news for March 21, 2025, will find these developments pivotal as the crypto market navigates new highs and potential setbacks.

In a surprising turn of events, Nillion (NIL), the 65th project to launch on Binance's Launchpool platform today, will see users able to stake BNB, FDUSD, and USDC to earn the new token through March 23.

The project kicks off with a bang as BNB price rose by 2% and XRP price soared by 14.8% in the past 24 hours. Solana is also showing gains.

According to The Block, the crypto market cap has hit $2.84 trillion, demonstrating broad strength in the market.

The crypto market is buzzing with activity, and for those tuning in with "top altcoins March 2025" in mind, names like NIL and ApeCoin could be heating things up.

Those following the crypto news for March 21, 2025, will find this a pivotal time for the market as it juggles new highs and potential setbacks.

Stay tuned for the Fed's March 25 "dot plot" which could provide clues on future rate cuts, and keep an eye on security issues after Bybit was hacked.

With crypto top coin news moving quickly, staying informed will be an advantage in 2025.