ALGO Gains 0.3% After Upbit Restarts Deposit Services for 33 Digital Assets

ALGO Sees Modest Price Uptick Amid Ecosystem Developments

On December 5, 2025, ALGO experienced a 0.3% rise over the previous 24 hours, reaching a value of $0.1332. This comes after a 2.07% gain over the past week, despite a 2.56% decrease in the last month and a substantial 60.21% drop compared to the previous year. The recent price movement coincides with notable advancements in ALGO’s infrastructure, drawing increased attention from the crypto community.

Upbit Gradually Restores ALGO Deposit and Withdrawal Functions

On December 5, 2025, the decentralized exchange Upbit revealed that it is incrementally reactivating deposit and withdrawal services for cryptocurrencies, beginning at 5:00 PM ET. As part of a comprehensive security review of its wallet infrastructure, all previous deposit addresses have been decommissioned. Users are now required to create new deposit addresses for ALGO and 32 additional digital assets across 21 networks, including ELF, FIL, and FLOW.

The platform stressed that attempting to use outdated deposit addresses could lead to transaction failures or delays, urging users to promptly remove any obsolete address records. At this stage, withdrawal capabilities are only available for select tokens, reflecting a cautious, step-by-step approach to restoring full service.

This partial reopening of ALGO-related services is expected to boost user trust and may enhance liquidity for the asset, though the overall effect on ALGO’s price remains uncertain.

Market Overview and Analyst Insights

Although ALGO has posted a modest gain in the last day, its price is still well below its high from a year ago. While the news did not include specific analyst projections for ALGO, the return of vital exchange features is generally viewed as a constructive technical signal for a cryptocurrency’s near-term outlook.

This update underscores the critical role of exchange reliability and security in shaping investor sentiment. As a widely traded proof-of-stake token, ALGO stands to benefit from improved infrastructure and support, especially when major exchanges like Upbit update their systems to accommodate it.

No Additional ALGO-Specific News

Other updates in the original news covered topics unrelated to ALGO, such as statements from Allied Gaming & Entertainment, legal proceedings involving Ox Barrier B.V., operational news from IndiGo, the stock market debut of a Chinese AI chip manufacturer, Bitcoin mining statistics from Cango, insider activity at Gogo Inc., a legal review of Hormel Foods, and a shareholder inquiry into Alvotech. These items were omitted here as they do not directly impact ALGO or its market landscape.

Upbit’s decision to resume ALGO deposit services marks a significant step toward improving the asset’s accessibility, which could encourage greater adoption and trading activity. The key question now is how the wider market will respond and whether this move will help restore investor confidence in ALGO.