BTCS Rises 11%; Adds Algorand Protocol To Its Infrastructure Staking Operations

(RTTNews) - Shares of bitcoin technology company BTCS Inc. (BTCS) are climbing more than 11% in the morning trade on Thursday.

The company today said it has added Algorand, a blockchain cryptocurrency protocol, to its infrastructure staking operations.

Launched in 2019, Algorand's blockchain features asset development, atomic swaps and smart contract execution. Its decentralized network enables processing speeds of 1,000 transactions per second and achieves block finality in less than five seconds.

The stock has been on the rise after BTCS announced the first-ever dividend payable in Bitcoin by a Nasdaq-listed company, last week.

BTCS, currently at $7.46, has traded in the range of $2.91- $32.40 in the past 52 weeks.