Should You Buy Algorand (ALGO)?
Have you been wondering about the possibility of investing in Algorand (ALGO) based on the potential of its blockchain technology? Well, you must know that Algorand is not only one of the most popular smart contract chains in the decentralized finance (DeFi) space. Its novel token, ALGO, is a top 50 digital asset.
This article takes an extensive look into Algorand, its core areas of business - and most importantly, for prospective investors - the pros and cons which can help answer the question: Should You Buy Algorand (ALGO)?
Algorand (ALGO) is one of the best performing cryptocurrencies that trended in the 2nd quarter of 2021. This was a result of the numerous programs it has in store for developers who can help in the growth of the Algorand ecosystem. At the time of writing, there are more than 10,000 coins on the market. To have a digital asset that has returned more than 100% year-to-date after the May and June lows points out the resistive factor that keeps ALGO crypto going.
Just like other governance tokens such as MATIC of Polygon, YFI of Yearn Finance, UNI of Uniswap, and AAVE of Aave, ALGO oversees the economy of Algorand. To put it simply, it settles all transactions on the Algorand Network.
With the volatility of cryptocurrencies at its usual high, ALGO could bring enormous returns for day traders, cryptocurrency traders, blockchain enthusiasts, and value investors. ALGO may just be the digital asset needed to balance your portfolio of investments. For investors who added ALGO on 1st January, it has been one of the best yielding assets in 2021.
The cryptocurrency market was in an uptrend for the better part of 5 months, with prices reaching new high lows in May and June, will Algorand go up? With more developers signing up for Algorand’s programs that aim to cover every aspect of decentralized finance, is Algorand a good long-term investment? Having failed to test its all-time high price of 2019 in the last 2 years, how much will Algorand be worth in the future? With an improvement in its speed of processing from 1,000 transactions per second to 46,000 TPS, is it worth investing in Algorand?
Most importantly, for inexperienced traders and investors - what are the pros and cons which can help answer the question: Should You Buy Algorand (AGLO)?
If you want to invest in Algorand (ALGO) easily and quickly, check out eToro Exchange!
- Algorand at a Glance
- The PROS of Buying Algorand (ALGO)
- The CONS of Buying Algorand (ALGO)
- Where Can I Buy ALGO / How to Invest in ALGO?
- The Bottom Line - Should You Buy Algorand (ALGO)?
Algorand at a Glance
In this section, we are going to have an extensive overview of the history of Algorand. In simple terms, what is Algorand, the history of Algorand, how many Algorand (ALGO) coins are there in circulation, and the price performance of ALGO from June 2019 to date?
The History of Algorand
Algorand was founded by Professor Silvio Micali of the Massachusetts Institute of Technology (MIT) in 2017. Founder Silvio Micali has been one of the leading figures in cryptography since the 1980s. It was after the success of blockchain-inspired cryptocurrencies Bitcoin, Litecoin, Dogecoin, Dash, and the creation of Ethereum that made him understand the possibilities of blockchain in the global world. With a highly sophisticated team that comprises cryptographers, computer science experts, mathematicians, and economists, the founding steps were formed. Algorand moved from a mere conception of an idea to the reality of a team of experts building an evolving blockchain technology in a borderless economy.
On Thursday, 1st February 2018, Algorand announced that it has obtained $4 million in seed money from Union Square and Pillar Ventures. After 3 months on Tuesday, 1st May 2018, Algorand shared details of its protocol. It consisted of the Byzantine agreement protocol that had the technical advancements to support the pure proof-of-stake (PPOS) blockchain.
On Friday, 20th July 2018, community members were invited to participate in the launch of the Algorand TestNet. On Tuesday, 9th October 2018, Algorand’s first open-source code of verifiable random function (VRF) was released. This was the first phase of the testing of the scalability and speed of the system to support millions of users. On Wednesday, 24th October 2018, Algorand embarked on two key journeys.
Firstly, it announced its executive team, with Sean Ford serving as Chief Operations Officer (COO) and the Chief Executive Officer (CEO) role going to Steve Kokinos. Secondly, the formation of the executive team culminated in a broad global investment group providing $62 million to support the Algorand project.
In 2019, Algorand reached key milestones. On Friday, 25th January 2019, the Vault: Fast Bootstrapping for the Algorand Network was announced. On Friday, 1st February 2019, there was the launch of Developer.Algorand.org. This gave developers the needed resources to build in a borderless economy.
After several milestones followed, renowned distributed computing expert Maurice Herlihy joined the Algorand project on Friday, 29th March 2019. On Thursday, 4th April 2019, Algorand’s Core Technology was released by Silvio Micali. The TestNet was finally opened to the public on 16th April 2019. After months of going through the final process, the Algorand Foundation announced the first auction which marked the official MainNet launch on Wednesday, 5th June 2019.
Algorand Incorporated and Algorand Foundation oversee the activities surrounding the project. They are based out of Boston and Singapore respectively.
What Is Algorand?
Algorand is a decentralized, secure, scalable, permissionless public chain that aims to build a borderless economy. Algorand is a blockchain platform for secure and fast global transactions and the simple creation of financial instruments.
Algorand, unlike Bitcoin, Litecoin, and Dogecoin does not rely on a proof-of-work (POW) algorithm. Instead, it employs a variant of the proof-of-stake (POS) algorithm called the pure proof-of-stake (PPOS). The primary advantage of using this algorithm is that blocks are finalized within seconds. This prevents forks and provides instant transaction finality. The core reasons for developing Algorand were attributed to simplicity, performance, adoption, and instant verifiability.
Algorand has a native asset called ALGO. This is the cryptocurrency on the network. The primary ticker ALGO is what Algorand trades on the various cryptocurrency exchanges that list it for trading.
Read Also: Could Algorand Be a Millionaire Maker Coin?
What Is The Purpose Of Algorand?
Algorand was created to find solutions to the three-way problem blockchain technologies have been associated with since its inception by Satoshi Nakamoto’s Bitcoin in 2009. Algorand aims to solve issues related to decentralization, security, and scalability.
How Many Algorand (ALGO) Coins Are There In Circulation?
As per information retrieved from CoinMarketCap, there are 3,110,000,000 ALGOs in circulation from a total supply of 5,589,842,879 ALGOs. At the inception of the release of the tokens, 10 billion ALGOs were put out there. The team has a plan of auctioning off 600 million coins annually till 2030.
Algorand (ALGO) Price Performance in 2019
According to data retrieved from CoinMarketCap, ALGO appeared on cryptocurrency exchanges on Friday, 21st June 2019. Since that day, ALGO has been unable to retest its opening day price. What’s more, the year 2019 was billed as the year of recovery for cryptocurrencies. This was because digital assets plunged to new high lows towards the end of 2018 with BTC shedding more than half of its new all-time high price of more than $20,000 recorded in that year.
ALGO opened on 21st June 2019 at $3.28, recorded an intraday high of $3.28, an intraday low of $2.39, and settled at $3.20. Astonishingly, ALGO wasn’t like other cryptocurrencies that started with relatively lower trading volumes. Algorand saw investor interest to the tune of $133 million. The momentum of interest was maintained towards the close of the 2nd quarter of the year. ALGO closed in June with a volume of $119 million and a price of $1.43. In the space of 9 days, ALGO shed 56.4024% percent of its opening day price.
One of the worst signs of an increase in an asset’s price can be attributed to the huge sell-off that follows new high highs. ALGO opened at $1.43 on 1st July 2019 and plunged to a new high low of $0.9511 on 10th July 2019. The momentum in trading volume started diminishing to $60 million at the end of the month. It closed at $0.5671 on 31st July 2019.
Many traders and investors felt that ALGO had reached a new high low that could enable it to cross new price milestones due to an uptrend. Unfortunately, those who bought the dips experienced a plummeting of ALGOs price to $0.4124 on 31st August 2021. Unsurprisingly, trading volume dropped to a new low as well which stood at $32 million on the last day. ALGO began 1st September 2019 with a trading price of $0.4142 and closed the day at $0.392. More misery befell the native asset of the highly decentralized blockchain technology. ALGO traded for a coin at $0.2497 on the last day of the 3rd quarter.
On 1st October 2019, ALGO opened at $0.2511. With trading volume hanging in the balance, the cryptocurrency dropped to new high lows throughout October, November, and December. With a trading volume of $38 million and a market capitalization of $108 million, ALGO opened on 31st December 2019 at $0.2268 and closed at $0.2175.
In the process, ALGO shed 93.3689% of its opening price in its crypto trading history.
Algorand (ALGO) Price Performance in 2020
After 6 months of trading experience, ALGO was finally set to establish itself as a mainstream cryptocurrency in 2020. Unfortunately, events that happened almost led ALGO to trade near extinction zones. The coronavirus pandemic did not spare any assets. From cryptocurrencies, stocks, commodities, and metals, every sector was hit. More than 22 million people lost their jobs in the process.
On the other hand, this welcomed a new set of traders and investors into the cryptocurrency space. They were tagged as unsophisticated since they relied on social media feeds to go about their trading and investing activities. Embarking on fundamental and technical analysis was not worth the time for them. They were in to make instant gains and move on to other social causes of life.
ALGO opened on 1st January 2020 at $0.2175, reached an intraday high of $0.2235, an intraday low of $0.2163, and closed the day at $0.2199. The daily trading volumes of ALGO stood below $100 million. The crypto trading asset closed on 31st January 2020 at $0.2481. ALGO returned 14.069% in the space of 30 days. This made experts and analysts forecast bullish price patterns for Algorand in the short and long term.
ALGO started rising in the days leading up to the peak of the pandemic. The digital asset retested $0.3 on 8th February 2021, $0.4 on 12th February, and closed on 29th February 2021 at $0.3341. In the peak of the pandemic in March and April, ALGO followed the price patterns of Bitcoin and major altcoin Ether (ETH) into dropping into lows. ALGO opened at $0.3333 on 1st March and dropped to a new low of $0.141 to close on 12th March. The crypto-token picked up the pieces towards the end of April and settled at $0.2109 on 30th April. With low trading volumes which reached as low as $17 million on 30th June, ALGO closed the day at $0.2084.
With the distribution of the 1st stimulus package in April, ALGO picked up momentum in the 3rd quarter of 2020. Eventually, it ended with a trading price of $0.3457 on 30th September 2020. With news of the 2nd stimulus package hitting bank accounts in December, many people continued to pour liquidity into the cryptocurrency. Trading volume soared in the last quarter of 2020 with a high of $205,559,779 recorded on 3rd October.
ALGO opened at $0.3466, with a corresponding $353 million on 1st October. On 31st December, the digital asset dropped slightly to close the day at $0.334.
In the process, ALGO returned 53.5632% for traders and investors.
Algorand (ALGO) Price Performance in 2021
The story has been different for 2021. In the 7 months of crypto trading, ALGO has performed well. In a year where all cryptocurrencies have increased their valuation, ALGO took advantage of the bullish engulfing and has returned enormous gains for its holders.
ALGO opened at $0.3342 on 1st January. With Bitcoin crossing $40,000 for the first time in February, ALGO retested $1 on 9th February. For the first time in its trading history, ALGO joined the ranks of digital assets worth more than $1 billion. On Saturday, 17th April, ALGO reached a year high of $1.82.
At the time of writing, ALGO had a trading price of $0.9215, had a trading volume of $77,710,993, and a market capitalization of $2,868,509,026.
Many analysts continue to forecast new price milestones for ALGO despite the bearish outlook of the market in May, June, and July. What are the primary factors behind their predictions?
To put it simply, what are the pros and cons of investing in Algorand that can help explain the bullish and bearish patterns the cryptocurrency can be summoned to in the future?
The PROS of Buying Algorand (ALGO)
What Are The Positives Of Investing In Algorand (ALGO)?
There are several benefits of Algorand such as it being a major player in the creation of CBDCs, being extremely cheap, being highly undervalued, having a relatively faster scaling time, and having impressive use cases. Aside from these factors, what are the other drivers of ALGO's price? To gain an insight into this, let us look at the pros of investing in Algorand (ALGO).
✅ ALGO Has Positive Returns
As of 9th July 2021, ALGO has returned 164.34% year-to-date. This is highly impressive of the cryptocurrency as it returned a huge loss in 2019. It increased by more than 50% in 2020 but this cannot be compared to the new heights the cryptocurrency has reached and continues to aspire to. ALGO’s issuing authority, the Algorand Foundation continues to foster great partnerships that see more liquidity poured into the network.
Since ALGO is the primary native asset on the platform, it continues to be involved in 100s of transactions daily. By all accounts, with the number of developer programs coupled with the aim of Algorand to create a system that can help scale faster, Algorand’s ecosystem will continue to expand in the long term.
Several experts believe ALGO will trade for a coin at the lowest price of $1.3 by the close of 2021. This means that its current percentage return is poised to go up in the months leading up to the end of the year. This is the primary reason why you should consider investing in ALGO so that you wouldn’t miss any potential gains that may befall the cryptocurrency.
✅ ALGO Has the Support of Major Players in the Game
After 2 months of trading online, ALGO was listed on Coinbase on 9th August 2019. This made ALGO one of the fastest tokens to be listed by the exchange. In the current crypto space, it is easy for fans of a particular cryptocurrency to put pressure on certain cryptocurrency exchanges to list assets of their interest. In the years before 2021, this was impossible.
Coinbase listing became one of the primary drivers of an asset’s price due to the credibility and authenticity of the exchange. For Coinbase to list ALGO meant that they conducted an extensive assessment of the cryptocurrency. They got to know the entirety of the project and the newness of the innovation. Coinbase certified ALGO as a possible high-yielding cryptocurrency that could command a huge trading volume.
On the blog of Coinbase, it is written, “One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time.” Once an asset could bring more liquidity to Coinbase and it’s not involved in any shady schemes, the exchange lists it. As of 15th April 2021, Coinbase has approximately 56 million users. ALGO is in the sights of these users daily. As the project picks up and continues to see more mileage in the mainstream due to its usage, it would be easy to access the cryptocurrency and invest in it.
The Algorand Project has also seen the backing of Pillar and Union Square Ventures, Flipside Crypto, SyncSort, as well as Global Universities which joined Algorand to further decentralize the network. All these institutions continue to support Algorand so that it can create an innovative technology that has not been seen before. This could go a long way to grow the network and increase the number of applications running on it. Once the network sees more volumes, such activity could reflect in the daily trading volumes of ALGO and positively impact price.
✅ ALGO is highly volatile
Volatility in its simplest form means something unpredictable. It is known across investment circles that cryptocurrency falls under a highly volatile asset class. Since ALGO is a cryptocurrency, it confirms its volatility. In the last 30 days (9th June to 9th July 2021), the volatility rate of ALGO has gone up and currently stands at 1.05. This is relatively higher than BTC (0.86), Cardano (0.82), and Dash (1.04). This means that ALGO continues to see multiple percentage swings daily which is larger than privacy coin DASH, smart contract token ADA, and parent crypto Bitcoin.
The volatile nature of cryptocurrencies can result in irrecoverable losses for thousands of traders. For the experienced trader or investor who is sophisticated, high-volatile assets present a perfect opportunity to make gains through day trading.
As an e-learning organization, we would urge you to continue to learn more about assets. This would help you turn what is seen by many as a pitfall into something lucrative. You can take advantage of ALGOs swings and use them as a hedge against other unyielding digital assets.
Don't Miss: Why Algorand Will Skyrocket
✅ ALGO Has a Great Team behind the Project
There are cryptocurrency projects that died early based on a lack of innovation by their founders. Not long ago, Next, Auroracoin, LuckyCoin, and PeerCoin were dominating the headlines. After following BTCs template and adding nothing to the crypto space, some of these earliest altcoins have been archived across the various search engines. Algorand is being backed by two organizations (Algorand Incorporated and Algorand Foundation).
The Algorand Foundation is composed of researchers, business leaders, economists, and industry experts among others. The Foundation points out that, “We are committed to the development of an inclusive and transparent system where anyone can build opportunity through decentralized applications and projects, no matter where they are.” Through its diverse network of workers, the foundation has been assisting with the growth of the network.
Using social media platforms, Twitter, fans, and holders are informed about the progress of the blockchain technology. What’s more, the foundation provides in-depth articles through its website to help developers know the programs Algorand is running and if they can be a part of it.
Algorand Incorporated has 51 to 200 employees. This team comprises cryptographers and mathematicians that employ their knowledge of enabling developers to store sensitive information or transmit it across insecure networks so that it cannot be read by anyone except the intended recipient. Others include computer science experts and economists. They also use skills gained over years of practice to help advance the course of the Algorand Network.
Their works are highly reflective of the more than 500 companies that employ Algorand to scale their applications. As more experts are being added to the respective organizations, Algorand will continue to work on the development of the platform. This will in the long term embolden investors to act on the asset. Once there is demand in an asset, the resultant effect is an increase in the price of that particular asset and under this report, ALGO.
✅ Algorand Has Launched $2 Million Trailblazer Bounty Program
On Wednesday 16th June 2021, the Foundation announced this initiative to bring the wider crypto community and blockchain developers into the ecosystem of the Algorand Protocol. The $2 million seed money will be distributed through grants and bounties over two years via GITCOIN (one of the leading bounties platforms). Developers and non-developers will get the chance to earn ALGO by completing designated tasks set by the community and more importantly, the Algorand Team.
On speaking on this partnership, the CEO of the Algorand Foundation, Sean Lee, pointed out that, “I’m excited to welcome Gitcoin and its membership into the Algorand ecosystem. Our goal is for Algorand to become the development platform of choice for sustainable, decentralized blockchain applications and this trailblazer program will be a key tool in rewarding people who join on that mission.”
At the time of writing, the series of events that preceded the start of the program has ended. In the next 6 months (July to December), GITCOIN and Algorand Foundation events will be announced. This will further help integrate the two communities and provide opportunities for further development.
Algorand comprises several sectors. With the bounty program now in full section, Algorand will compete to add more innovative solutions to the already existing ones. This means that in the not-too-distant future, Algorand will be competing with all the first-movers in the space. Algorand will compete with Ethereum for DeFi users, Ripple for cross-border payment solutions users, Decentraland and Enjin Coin for non-fungible token users, and Stellar for central bank digital currency customers.
If all these areas flourish on the Algorand Network, the possibilities of the platform will become endless. Whatever happens, this will only see ALGO rally to new price milestones no one ever envisioned.
✅ Algorand Has Launched a 250 Million ALGO Grants Program
Algorand aims to go further than Cardano (ADA), Tron (TRX), Internet Computer (ICP), and EOSIO (EOS) into becoming an Ethereum Killer. Through the Algorand Foundation, a program has been launched to offer various funding level opportunities across a lot of categories. They are research proposals, applications & use cases, education & community, and development tools & infrastructure.
Under Education & Community, Algorand will continue to provide support through the Algorand Ambassador Award Program. This grant will go to purely community-certified projects. Under Application & Use Cases, Algorand will continue to support projects that target real-world-use cases that will drive mainstream adoption. Algorand is open to innovative use cases for applications under Open Finance or DeFi, global information systems, social media, payments, asset exchanges, copyright authentication, supply chain, and asset tokenization.
Under Development Tools & Infrastructure, Algorand will continue to support the development of its blockchain. This will make essential tools accessible to developers. Areas of development that will be prioritized include libraries, utilities, applications, tooling, monitoring, and deployment. Other areas that will be focused on are asset creation and manipulation, TEAL analysis, and IDE integration for ASC among others. The last part is Research Proposals. Algorand will provide support for a wide range of research on token economics, blockchains, and cryptocurrencies. Other areas in computer science that grants will be made available include but are not limited to developing disciplines such as artificial intelligence (AI), programming languages, and cryptography.
By the end of the program, we can all agree that 250 million ALGOs would have been taken off the total supply. Aside from this, there would have been a huge chunk of innovation added to the ecosystem of Algorand.
In the long term, this will give Algorand an edge over other blockchain technologies. It may become the go-to smart contracts chain for developers.
The CONS of Buying Algorand (ALGO)
What Are The Negatives Of Investing In Algorand (ALGO)?
A great project like Algorand does not have many negatives. Unfortunately, there is no flawless crypto project. Whatever happens, there is always something missing that needs to be corrected. Few experts are conservative when it comes to the price patterns of ALGO. What are some of the pitfalls of investing in Algorand that you should look for? To gain an extensive understanding of the demerits of the blockchain, let us consider the cons of investing in Algorand (ALGO).
❌ Scarcity Is In the Long Term
One of the major drivers of some cryptocurrencies is their maximum supply. Fortunately, founder Silvio Micali decided to cap the maximum supply of ALGO at 10 billion. With that said, all the coins were not released to the general public like Bitcoin (BTC) or Litecoin (LTC).
Instead, it has been spread over years that sees the final set of coins released to the general public in 2030. What this means is that the laws of demand and supply can only hold up to ALGO in the next 9 years. This does not bode well for ALGO as a crypto trading asset since most investors watch out for the scarcity factor before making decisions on digital assets.
❌ Algorand is Still in Developmental Stages
It is extremely exciting to see the programs that have been brought forth by Algorand. Although the project continues to have great use cases, it is still based on possibilities and not certainties. Ethereum, Stellar, and EOS are smart contract chains that have been tried and tested.
Algorand continues to make waves but it would take a great deal of time before it would sink into the minds and hearts of developers. Because of the number of users on Ethereum, it’s extremely easy for developers to patronize Vitalik Buterin’s blockchain. At the end of the day, the applications they have created must gain mileage and not rest on a public blockchain somewhere. This is the primary reason why ALGO continues to trade at less than 2,000 times the price of ETH and less than 100 and 200 times the price of other smart contract tokens. Algorand will get there but it needs time.
❌ ALGO Is Not That Popular Among Novice Traders and Investors
It may come as a surprise to many who are not into cryptos that there are more than 10,700 coins in the market. One of them is ALGO. Unfortunately, Bitcoin, Ether, Dogecoin, XRP, Tronix, Binance Coin, and Cardano continue to remain the most popular cryptocurrencies based on their extensive usage as transactional currencies.
This could explain why the cryptocurrency does not see the enormous liquidity of those other tokens daily. ALGOs popularity will soar in the future. At the moment, millions of cryptocurrency users classify it as a minor altcoin and not a major altcoin. In the long term, if this doesn’t change, ALGO could be impacted negatively.
Read Also: Is Algorand Worth Investing?
Where Can I Buy ALGO / How to Invest in ALGO?
You can buy ALGO at eToro. eToro has a user-friendly platform that can meet your needs and interests. Having been in business for more than 15 years, eToro has served its customers without incident. This is the primary reason why we are recommending their services to you.
To start investing in ALGO, you must go through this simple process.
The first step is to create an account on eToro. As we have all become used to, you must provide your full legal name, email & residential address, as well as your contact number.
The second step is to verify your account. As part of the Knowing Your Customer (KYC) phase, you’d be asked to provide proof of identity, and proof of address. Once you upload a government-issued card and bank, or credit card statement, you are good to go.
The third step is to deposit funds. Based on your investment budget, you can upload funds in the form of USD, EUR, and GBP.
The fourth step is to navigate to the ALGO page. On this page, you can buy 1 or several ALGOs. The transactions will be processed and added to your account.
The Bottom Line - Should You Buy Algorand (ALGO)?
Algorand (ALGO) is one of the best yielding cryptocurrencies you should consider investing in according to Wallet Investor. As per the experts, ALGO could command prices of $1.330 by the end of 2021 and $8.624 on the last day of June 2026. With such a price forecast, we can deduce that ALGO is worth investing in, in the short and long term.
With that said, you must always note that 95% of investments come down to risks versus rewards. You should always ask the question, do the potential earnings (rewards) outweigh the possible consequences of the risks?
Algorand has risk factors such as being a relatively newer project, not being too popular with traders and investors, and not having scarcity to look forward to in the short or long term. On the other hand, it continues to foster alliances and create programs that reward developers to add up to its ecosystem. In addition to this, ALGO has brought massive returns to investors and has the support of major players in the decentralized finance space.
So, is Algorand (ALGO) a good investment? ALGO is a good investment because it has returned more than 160% for investors in the last 7 months. It could return the same percent for traders and investors before the turn of 2022.
So, should I buy ALGO? Yes, Trading Beasts think you should buy ALGO. The portal estimates Algorand to reach the best possible price of $1.4833541 by the end of 2021. Perhaps, now could be the right time to buy ALGO since it could return 60.9717% for you on the last day of December 2021.
Now that you have been informed about the pros and cons of buying ALGO, if you would like to jump into investing in ALGO as soon as possible, eToro provides the chance to trade and invest in up to 90 cryptocurrencies.
eToro – Best Platform to Buy Algorand
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
ALGO Price Prediction: Can ALGO Reach $5?
YES! According to Wallet Investor, ALGO could reach $5 on 9th February 2026.
ALGO Price Prediction: Can ALGO Reach $1,000?
Algorand could touch $1,000 in the future. Currently, it seems impossible for ALGO to test $1,000 since it is yet to cross certain milestones ($5, $10, $50, $100, and $500).
ALGO Price Prediction: How Much Is Algorand (ALGO) Worth in 2025?
According to Coin Price Forecast, Algorand could reach $2.92 by the end of July 2021 and trade for a coin at $3.21 by the end of 2025.
According to Wallet Investor, Algorand (ALGO) could command an average price of $4.508, the lowest possible price of $1.810, and the best possible price of $7.382. by the year's end of 2025.
According to Digital Coin Price, Algorand (ALGO) could have a trading price of $2.57 by the close of 2025.
ALGO Price Prediction 2030
Coin Price Forecast estimates Algorand’s crypto could reach $3.51 by the end of July and $3.68 by the year’s end of 2030.