The ever evolving cryptospace is home to a myriad of digital assets and protocols. One such emerging protocol is Algorand, which has managed to establish is reign in the industry. The network is built on the Pure Proof of Stake consensus mechanism. ALGO is a native token of the platform. The token acts as a payment gateway to pay for fees within the network.
Market Top Gainer
ALGO is listed by most of the prominent exchanges such as Binance, coinbase coinbase [email protected] Centralised Exchange Followers : 0 View profile , huobi huobi Decentralised Exchange Followers : 0 View profile , , and more. ALGO with its strengths has managed to make its way into the portfolios of investors. Are you keen on investing in ALGO? Look no further, as we bring to you the plausible price predictions of ALGO for 2022 and beyond!
|Market cap||$ 0.0000|
|Circulating Supply||$ 0.0000|
|Trading Volume||$ 0.0000|
|All-time high||$ 0.0000 Jan 1, 1970|
|All-time low||$ 0.0000 Jan 1, 1970|
Algorand (ALGO) Price Prediction
|Year||Potential Low||Average Price||Potential High|
Algorand Coin Price Prediction For 2022
ALGO’s price had initiated the year at $1.645, continuing its recovery from the bottom of $1.269. Which was seen on the 20th of December. After reaching its local top at $1.851 on the 5th of January. The prices slipped to $1.323 by the 10th of January. After a fake uptrend to $1.5, the price was pushed by the bears yet again. This time the price brushed levels at $0.804 by the 22nd of January.
While the altcoin did pose a 38.5% recovery by the 8th of February. The market-wide plummet resulted in the digital asset following suit. Wherefore, the price of ALGO was seen ranging in a downtrend and later hit its support at $0.7241, by March 12th.
After a prolonged stay at the support levels, the digital asset posed an uptrend on the 21st of the month. Which took called for a quarterly closure at $0.9835. Algorand has faced the brunt of the tumult of the broader market in the second quarter. The altcoin is presently down close to 70% since the start of April.
ALGO Price Prediction For Q3
With impetus coming from major announcements such as collaborations or adoptions. ALGO’s price could close the quarter with a potential high of $0.3817. On the contrary, failing to keep up its momentum and stance in the industry, the altcoin could fall to $0.2894. That said, considering the maximum and minimum targets, the crypto asset’s price could settle at an average level of $0.3330.
Algorand Crypto Price Prediction For Q4
If the team undertakes community-driving initiatives and sees impressive results from its efforts around greener NFTs. And with further impetus from positive social sentiments and volumes, the altcoin could claim a high at $0.4927.
Whilst regular trade activities, in the absence of external catalysts, could settle the price at $0.4146. The bears out-weighing the bulls could drag the price down to $0.3502.
ALGO Coin Price Prediction For 2023
The Algorand community might concentrate on strengthening the protocol as well as the user base. By the end of 2023, the digital currency might reach as high as $0.8701. On the flip side, negative criticism and FUD could result in the altcoin flipping down to $0.4488. Successively, an equilibrium in trade pressures could land the price at $0.6279.
ALGO Crypto Price Prediction For 2024
If the crew behind the platform employ developmental and community-building initiatives, amidst Bitcoin’s halving event. Escalating prominence of the altcoin will be supplemented by a plausible bull run. In such an optimistic scenario, the ALGO price could surge as high as $1.4421 by the end of 2024.
Conversely, factors like regulatory clampdowns and stiffer competition might curb the price projection to the minimum of $0.7238. That said, the regular price might land at $1.0243.
Algorand Price Prediction For 2025
In the next 3 years, ALGO might be listed on many exchange platforms and the price is anticipated to intensify. The community might attract users and marketers with certain collaborations with other projects and startups. It might enrich more security to its platform and may concentrate on transparency. Wherefore, ALGO’s price is assumed to hit its potential high of $2.2897.
On the flip side, if bears continue to dominate, the token might sink to $1.2454. Collectively, constrained by a linear momentum, with the lack of stimulating initiatives, ALGO’s price might settle at $1.6938.
Gov. capital has revised its ALGO price prediction. It expects the token to hit a maximum of $0.3082. On the contrary, they believe, trend reversals in the market would plummet the price to $0.2278. And with average buy and sell pressures it would end up trading at $0.268.
The website has also made bullish predictions for the long term. They expect the altcoin to close 2023 and 2025 with a maximum trading price of $1.6629 and $5.278 respectively.
Digital Coin Price:
As per Digital Coin Price’s forecast, ALGO could hit a potential high of $0.42 by the end of 2022. The analyst from the firm expect the minimum and average prices to fall at $0.37 and $0.39. According to Digital Coin Price, the altcoin could hit a maximum of $0.72 by 2023 and $1.32 by 2025.
Priceprediction.net pins a bearish outlook for Algorand price prediction. They expect the price of Algo to settle at its regular price of $0.33 by the end of 2022. The prediction from the firm expects the possible minimum and maximum trading values at $0.32 and $0.36. That said, the average annual trade closures for 2023 and 2025 are expected to fall at $0.46 and $0.97.
To read our price forecast for Litecoin (LTC) click here!
What Is Algorand?
The algorand algorand [email protected] Blockchain Network Followers : 0 View profile was founded by silvio micali silvio micali founder at algorand Silvio Micali was born on October 13, 1954, in Palermo, Italy. Micali is an Italian computer scientist, professor at the Massachusetts Institute of Technology, and the founder of Algorand. Micali’s investigation centers on cryptography and information security. He was honored with the Godel Prize in 1993, Turing Award in 2012, and ACM Fellow in 2017. He received the RSA Award for Excellence in Mathematics in 2004. In 2007, he was selected to be a member of the National Academy of Sciences and a Fellow of the International Association for Cryptologic Research(IACR). In 2015 the university of Salerno acknowledged his studies by giving him an honoris causa degree in Computer science.
Silvio Micali graduated in mathematics from the La Sapienza University of Rome in 1978 and earned a Ph.D. degree in computer science from the University of California, Berkeley in 1982, for research supervised by Manuel Blum. Micali’s research interests are cryptography, zero-knowledge, pseudorandom generation, secure protocols, and mechanism design.
Micali founded Algorand in 2017, which is a proof-of-stake blockchain cryptocurrency protocol, its native cryptocurrency is called ALGO. Algorand is composed of a company and a foundation. Algorand foundation manages ecosystem growth, award funding, cryptographic research primitives, on-chain governance, and decentralization of the Algorand network. The Algorand test network was launched to the public in April 2019, and the main network was launched in June 2019. EntrepreneurInvestorChief Information Security Officer(CISO) Followers : 0 View profile , the network mainnet went live in June of 2019. Algorand platform holds the capacity to handle almost 1 million transactions per day. The network is one of the recognized public cryptocurrency blockchains. The protocol intends to deliver decentralization and security for the participants.
Algorand introduced the world’s first pure “proof-of-stake” foundational blockchain.com blockchain.com Crypto trading and Information Followers : 1 View profile . Their advanced technology provides a set of efficient layer-1 blockchains that offers scalability, security, and built-in privacy. The network’s aim is to build global trust via decentralization. To offer an elegant technology that drives adoption by billions.
Algorand is the world’s most decentralized, secure, and scalable blockchain infrastructure that provides services ranging from decentralized finance to generative NFT, empowering sustainable blockchain for economic models of the future. The company’s mission is to earn global trust via decentralization by creating simple designs that drive adoption by a large number of people and building an elegant technology that removes barriers to prosperity for every individual across the globe.
Silvio Micali founded the company Algorand in 2017 and is US based. The network is the official blockchain of FIFA, world football’s governing body, that collaborated with a green blockchain technology firm. The firm is unleashing scalability, blending TradeFi and Defi, and accelerating international sustainability through its ecosystem of organizations, powering economic models of the future on the Algorand platform. The company has launched numerous leading projects, including Folks Finance, Algofi, Pera Wallet, Prismatic, and LimeWire.
The platform is aimed to offer next-generation financial products, protocols, and exchange of value. Basically, the network acts as a bridge between decentralized decentralized [email protected] Event Organiser Followers : 0 View profile and traditional finance. Their FutureFi product allows users to create and deploy tokens, NFTs, stablecoins, and securities. In addition to this Algorand wallet is a user-friendly way for anyone to interact with the public network.
The founder previously worked as a professor of computer science at the Massachusetts Institute of Technology. He was awarded the Turing Award in 2012 for his contributions to blockchain protocols, cryptocurrencies, and electronic cash. After research and gaining enough knowledge, he launched Algorand.
Soon after the launch in 2019, the network introduced some major events. Algorand 1.0 mainnet was launched in June 2019. Followed by Algorand 2.0 in November 2019. In the 2.0 update, smart contracts were introduced, and layer 1 smart contracts enforce custom rules and logic.
Our Algorand Price Prediction
The Algorand seems to be unstoppable with a series of events lined up for launch. This DeFi-based platform is the best-suited investment in the current uncertain market scenario. According to Coinpedia’s formulated ALGO price prediction. If the network launches upgrades such as Liquidity mining and staking, and game maker launch. The price may hit $0.5 by the end of 2022.
Conversely, if the network fails to execute its plan, then the price can flip into a bearish trap and dip to $0.35.
Historical Market Sentiments
- Algorand had initiated its journey on June 20 with an effective trading value of $2.89.
- Dramatically, the token started to decline at its initial stage of the journey and plunged to $1.43 by the end of July.
- The aggravating bearish trends dragged the price to $0.18 by September-end. Following oscillations the year was concluded at $0.23.
- ALGO continued to trade at $0.21, on a bearish note, during January.
- The price substantially recovered to $0.45 by the end of February.
- Following the decline of the cryptocurrency space amidst the Covid-19 outbreak, ALGO slumped to $0.12 by mid-March.
- Later the token significantly hit $0.65 and claimed a resistance level by mid-August.
- Algorand arrived at $0.33 in December to complete the year 2020.
- Following a bearish trend, ALGO entered the year 2021 with a trading value of $0.37.
- The token marked the yearly highs at $1.71 in the mid of February and dipped down, trending sideways further.
- After massive swings, ALGO saw a positive rally by the end of July and reclaimed a high of $2.37 by late September.
- The asset remained choppy until mid-December and plummeted to $1.34 on 19th December.
Click here to read our price prediction of Ethereum Classic (ETC)!
If considered as a long-term investment, ALGO could yield higher returns.
Algorand works on the Proof-of-Stake (PoS) consensus mechanism.
The ALGO price could potentially shine to $0.4927 by the end of 2022.
According to our Algorand price prediction, the digital asset could claim its potential high of $2.2897 by the end of 2025.
Algorand can be traded on exchanges like Binance, Coinbase Pro, Huobi Global, and OKEx, amongst others.