It caused by so many people are staking and they were sending it directly to the market to dump their coins. Remember some people were able to staking it through binance or another exchange site. That makes the inflation caused by the new coins that generated by those who have staked their amounts to the network got even worse.
The ico of algorand is overvalued and the developer has been using a very bad mechanism to put a big price as the ico price.

It was getting dumped everyday and so many tokens are not yet staked and just believe if this coin will be getting another dump again to the 10 cents. The annual yield is so high and that makes a lot of new coins produced everyday.