The Algorand coin is ranked #29 in market cap, with a market cap of $6,290,990,854.60. ALGO coins have a total supply of 10,000,000,000 tokens, with a circulating supply of 6,632,774,572 tokens.
The price of one token is currently $0.948470, down 1.03% in the last 24 hours. It is traded with a 0.29% market share. The trading volume for the previous 24 hours has increased by approximately 21.20% to $301,687,504.14.
What is the Algorand (ALGO) coin?
It is a self-sustaining, decentralized blockchain network that endows many applications. The network’s mainnet was launched in June 2019 and can handle approximately one million transactions daily. It employs the permission-less pure proof-of-stake consensus, which means that ALGO tokens cannot be mined.
Algorand (ALGO) coin price history & monthly technical outlook
The coin’s value has dropped by 1.49% in the last 24 hours. When we compare its current market cap to the previous day’s, we can see that it is decreasing by 1.03%, and its fully diluted market cap is $9,484,704,758.50.
The token’s price has risen 13.64% in seven days. Algorand’s current price is $0.948470, approximately 71.05% less than its all-time high of $3.28.
Algorand (ALGO) coin fundamental outlook
Algorand is a blockchain and crypto protocol that strives to be secure, scalable, and decentralized. The Alrogand Foundation declared a $10 million contribution to applied blockchain to develop the London Bridge in February 2022. It will make the Algorand blockchain ETH compatible. It will assist the network in attracting more liquidity, which can help the network’s growth. In addition, the Algorand Foundation has a long-term plan to solidify the Algorand DeFi ecosystem.
Will the ALGO coin price reach 10 USD?
This is one of the active cryptos that has maintained a bullish trend indefinitely. If the bullish trend continues, the native token of Algorand Network (ALGO) could reach $10 shortly. Regardless of the growth potential, it is always advisable to conduct extensive research on a cryptocurrency before investing in it.
Algorand price prediction 2022-2025
The token’s price prediction for the next five years is as follows. These forecasts are based on technical indicators, historical prices, market cap, volume, fundamentals, upcoming projects, etc.
Algorand price prediction 2022
Analysts are very bullish on Algorand’s short-term potential and believe that the price of the coin will skyrocket. They believe it will reach $2 by the end of 2022 while remaining between $1.50 and $1.5 in the year’s first half. If things continue to go well for the token, it could reach an all-time high of $3.28.
Algorand price prediction 2023
Our analysts believe that its price will reach as high as $8–$10 in the next year in 2023. However, this can only be accomplished if the bullish trend continues for a year.
Algorand price prediction 2024
In 2024, more integrations and partnerships are expected, which can push ALGO to a further upside at $12. The average price of the coin could remain at $8 in 2024.
Algorand price prediction 2025
The crypto price is expected to reach new all-time highs in 2025 as the world better understands crypto. If everything goes as planned, this token could get a value of $20. However, if something goes wrong, the token can fluctuate between $10 and $12.
Top 3 questions & answers about Algorand
Will the ALGO coin crash?
The ongoing developments and upgrades in the Algorand network could mitigate any price crash in ALGO this year. However, it is doubtful that its prices will drop rashly soon.
Will ALGO increase rashly?
The token is one of the top gaining coins this year, and the record achievements of this coin in the past few months give us high hopes for a spike in price this year.
Will ALGO overtake BTC?
No, it is implausible that the coin can overtake BTC for now. Although it has competitive features, Algorand has a long way to cover before reaching close to the big names in the market. Every day, we find new tokens with new features, which has made the competition even more difficult.