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Algorand

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1 ALGO = 0.2028 USD
Last updated 2024-04-25 15:20:56(UTC-0)

Algorand price live data summary

The live price of Algorand is $0.2028 per (ALGO / USD) today with a current market cap of $1.65B USD. The 24-hour trading volume is $195.46M USD. ALGO to USD price is updated in real time. Algorand is -8.17% in the last 24 hours. It has a circulating supply of 8,138,097,000 .

What is the highest price of ALGO?

ALGO has an all-time high (ATH) of $3.28, recorded on 2019-06-21.

What is the lowest price of ALGO?

ALGO has an all-time low (ATL) of $0.08761, recorded on 2023-09-11.

Algorand price prediction

Set your prediction

When is a good time to buy ALGO? Should I buy or sell now?

When deciding whether to buy or sell ALGO, you must first consider your own trading strategy. The trading activity of long-term traders and short-term traders will also be different. The Bitget ALGO technical analysis can provide you with a reference for trading.
According to the ALGO 4h technical analysis, the trading signal is Neutral.
According to the ALGO 1d technical analysis, the trading signal is Buy.
According to the ALGO 1w technical analysis, the trading signal is Sell.
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Algorand price performance in USD

24h7d30d90d1yAll-time
-8.17%+15.38%-26.47%+20.77%+6.36%-15.68%

Algorand price history in USD

TimeLowHigh
24h$0.1969$0.2192
7d$0.1602$0.2576
30d$0.1482$0.2898
90d$0.1482$0.3290
1y$0.08761$0.3290
All-time$0.08761(2023-09-11, 227 days ago )$3.28(2019-06-21, 4 years ago )

Algorand market information

Market cap
$1,650,560,520.59
-8.17%
Fully diluted market cap
$2,028,189,804.64
-8.17%
Volume (24h)
$195,457,929.05
-68.16%
Market rankings
Circulation rate
+81.00%
24h volume / market cap
0.1184
Circulating supply
8,138,097,000 ALGO
Total supply / Max supply
10B ALGO
-- ALGO
ICO price

Algorand ratings

Average ratings from the community
4.4
100 ratings
This content is for informational purposes only.

Algorand Social Data

In the last 24 hours, the social media sentiment score for Algorand was 3.2, and the social media sentiment towards Algorand price trend was Bullish. The overall Algorand social media score was 705,296, which ranks 35 among all cryptocurrencies.

According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,318,607 times, with Algorand being mentioned with a frequency ratio of 0.13%, ranking 14 among all cryptocurrencies.

In the last 24 hours, there were a total of 1,444 unique users discussing Algorand, with a total of Algorand mentions of 1,667. However, compared to the previous 24-hour period, the number of unique users increase by 13%, and the total number of mentions has increase by 79%.

On Twitter, there were a total of 45 tweets mentioning Algorand in the last 24 hours. Among them, 20% are bullish on Algorand, 2% are bearish on Algorand, and 78% are neutral on Algorand.

On Reddit, there were 119 posts mentioning Algorand in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 32% . Additionally, there were 0 comments mentioning Algorand. Compared to the previous 24-hour period, the number of mentions decrease by 0%.

Visão geral das redes sociais

Average sentiment(24h)
3.2
Social score(24h)
705.30K(#35)
Social contributors(24h)
1.44K
+13%
Social mentions(24h)
1.67K(#14)
+79%
Social dominance(24h)
0.13%
Twitter
Tweets(24h)
45
+246%
Twitter sentiment(24h)
Bullish
20%
Neutral
78%
Bearish
2%
Reddit
Reddit score(24h)
273
Reddit posts(24h)
119
-32%
Reddit comments(24h)
0
0%

About Algorand(ALGO)

What Is Algorand?

Algorand is a decentralized network that was designed to address the Blockchain Trilemma, which encompasses the challenges of achieving speed, security, and decentralization simultaneously. Founded by the computer scientist and MIT professor Silvio Micali in 2019, Algorand is an open-source blockchain platform that anyone can build upon. It stands out for its impressive capability to process over 1,000 transactions per second (TPS) and achieve transaction finality in less than five seconds. This rapidity is combined with a strong emphasis on security and decentralization.

The platform uses a Proof-of-Stake (PoS) consensus mechanism and distributes validator rewards to all holders of its native ALGO cryptocurrency. This approach ensures both high throughput and equitable community incentivization, making Algorand suitable for a wide range of global applications.

Algorand's architecture is unique, featuring a two-tiered blockchain structure. The base layer, Layer 1, supports smart contracts, asset creation, and atomic swaps between assets. This layer ensures security and compatibility. The second layer, Layer 2, is reserved for more intricate smart contracts and decentralized application (dApp) development. This bifurcation allows Algorand to process transactions efficiently, with simple transactions being processed swiftly on Layer 1 without interference from more complex smart contracts

Resources

Official Whitepaper: https://algorand.com/technology/white-papers

Official Website: https://algorand.com/

How Does Algorand Work?

Algorand operates on the Proof of Stake mechanism, termed Pure Proof of Stake (PPoS). This consensus mechanism is highly democratized, requiring only one ALGO coin to participate, making it accessible to a broad range of users. In the PPoS system, validator nodes are chosen randomly to confirm transaction data in a block.

This process involves two phases: proposing and voting. Any member of the Algorand network can partake in these phases by staking ALGO and generating a valid participation key. The proposal phase involves the selection of a block leader to propose the current block. This leader is chosen through Algorand's verifiable random function (VRF), a mechanism that selects nodes in a provably random manner. Following the proposal, the voting phase begins, where Participation Nodes are elected to a committee responsible for ensuring the integrity of the current block. If the block is approved, it's added to the blockchain; if not, the network enters recovery mode.

What Is The ALGO Token?

ALGO is Algorand's native cryptocurrency. The total supply of ALGO is capped at 10 billion coins. The current circulating supply of ALGO is 7.8 billion. It plays a pivotal role in the network's structure. Unlike many other platforms where only block producers receive rewards, in Algorand, rewards are distributed among all ALGO coin holders. This inclusive approach means that all ALGO coin holders can earn an annual percentage yield (APY). Users don't need to actively stake the coin for block production; merely holding ALGO in a non-custodial wallet or on an exchange allows them to access earned rewards.

Algorand's Impact on Finance

Algorand is making significant strides in the financial sector, particularly in the realm of decentralized finance (DeFi). The platform's efficiency, security, and scalability make it an attractive choice for dApp developers and DeFi traders, especially those seeking alternatives to Ethereum due to its rising gas fees. Additionally, Algorand's capability to host other cryptocurrencies and blockchain-based projects positions it as a direct competitor to Ethereum.

The Algorand Standard Asset (ASA) protocol allows developers to create new tokens or transfer existing ones to the Algorand ecosystem. Notably, stablecoins like USDT and USDC exist as ASAs on Algorand, benefiting from higher throughput and lower transaction fees than on Ethereum. Furthermore, as central banks explore networks for their central bank digital currencies (CBDCs), Algorand emerges as a top contender, with the Marshall Islands already selecting it to host their CBDC.

What Determines Algorand's Price

In the dynamic world of cryptocurrencies, the Algorand price has become a focal point of discussion among investors and crypto enthusiasts. Many are constantly seeking updates on the ALGO price today, which seems to be influenced by a myriad of factors, including its unique blockchain platform renowned for scalability and speed.

Various platforms offer Algorand price predictions, focusing on its Pure Proof of Stake (PPoS) consensus mechanism, a major attraction for large institutions and companies. They utilize Algorand's infrastructure layer to address real-world issues requiring scale, speed, and cost efficiency. Furthermore, the ALGO crypto price is significantly impacted by the initiatives and developments spearheaded by the Algorand Foundation. This non-profit entity nurtures the Algorand ecosystem through vibrant community engagement, innovative research, and governance initiatives.

Investors keeping a close eye on the Algorand ALGO price live must note that the ALGO coin price is inherently tied to its utility within the network. The current Algorand price may fluctuate based on transaction fees on the network, which stood remarkably low at 0.001 ALGO as of October 2022. The ALGO USD price also tends to respond to participation in the Governance Program, where ALGO can be staked for voting on significant proposals concerning the protocol's future, offering enticing rewards to participants. These aspects, coupled with community engagement, have the potential to elevate the Algorand coin price, as evidenced in various Algorand price charts.

Analyzing the Algorand price history, it's clear that the platform has progressed significantly since its 2017 inception by Professor Silvio Micali. The ALGO market cap has steadily increased, showcasing a network capable of processing up to 6,000 transactions per second. This makes it a formidable competitor against first and second-generation blockchains like Bitcoin and Ethereum. Those conducting ALGO price analyses frequently spotlight the technological advancements and growing adoption of the Algorand blockchain in sectors such as financial services, decentralized finance (DeFi), and fintech.

Looking ahead, the latest news on Algorand paints a promising trajectory for the cryptocurrency. The forecast for Algorand price is bolstered by its green blockchain initiative, where it has considerably offset carbon emissions since April 2021. Furthermore, predictions for the Algorand price in 2023 hinge on ongoing projects in the ecosystem, with a spotlight on decentralized finance sectors like lending and trading. Keeping a tab on real-time ALGO price movements and scrutinizing the ALGO price graph can offer insights into potential growth trajectories. As the ALGO cryptocurrency price reacts to internal ecosystem developments and broader market trends, investors are keenly observing to see if the upward trend in Algorand's token price will persist, reflecting its robust foundation and bright future.

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Trade ALGO perpetual futures

After having successfully signed up on Bitget and purchased USDT or ALGO tokens, you can start trading derivatives, including ALGO futures and margin trading to increase your income.

The current price of ALGO is $0.2028, with a 24h price change of -8.17%. Traders can profit by either going long or short onALGO futures.

Join ALGO copy trading by following elite traders.

After signing up on Bitget and successfully buying USDT or ALGO tokens, you can also start copy trading by following elite traders.

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People are also inquiring about the price of Algorand.

What is the current price of Algorand?

We update our Algorand to USD price in real time. Get the live Price of Algorand on Bitget.

What is the 24 hour trading volume of Algorand?

Over the last 24 hours, the trading volume of Algorand is $195.46M.

What is the all-time high of Algorand?

The all-time high of Algorand is $3.28. This all-time high is highest price for Algorand since it was launched.

Can I buy Algorand on Bitget?

Yes, Algorand is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy guide.

Can I get a steady income from investing in Algorand?

Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

Where can I buy Algorand with the lowest fee?

We're pleased to announce that strategic trading platform is now available on the Bitget exchange. Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders.

Is Algorand (ALGO) a good investment?

Algorand (ALGO) ranks prominently among the leading 50 cryptocurrencies by market cap as of August 2023, positioning it as a notable investment contender. Here's why ALGO could be a key addition to your investment portfolio: Esteemed Development Team Led by the acclaimed Professor Silvio Micali, a Turing Award recipient, Algorand boasts a team with unparalleled expertise in computer science. Their solid foundation in innovation and research lends credibility to the Algorand project. Eco-friendly and Efficient Algorand's unique Proof-of-Stake (PoS) blockchain emphasizes efficient transaction processing. Renowned for being one of the most environmentally-conscious blockchains worldwide, Algorand ensures dependable, green performance. Seamless Integration with Ethereum The Algorand Virtual Machine (AVM) offers interoperability with Ethereum, a crucial feature enticing dApp developers. By providing an economical and scalable platform for new projects, the expanding Algorand ecosystem positions ALGO as a promising investment. Rising in the Web3 Era Beyond its prowess in DeFi and NFTs, Algorand is poised to shine in the web 3.0 landscape. As web3 applications continue to proliferate on its blockchain, the demand and potential value surge for Algorand can be anticipated.

Where will ALGO price go?

Algorand's (ALGO) potential in the crypto market is underscored by key factors: Ethereum Compatibility and DeFi Boom: ALGO's alignment with Ethereum and the burgeoning DeFi sector positions it favorably. Ethereum's network issues further spotlight Algorand as a viable alternative for developers. Notable Gains: In 2021, ALGO boasted a staggering 250% ROI, marking its place among top-performing cryptocurrencies. This growth was fueled by rising demand for DeFi and Algorand-based dApps. Prospective Upswing: ALGO's future value hinges on sustained tech adoption and overall crypto market sentiment. While its historical performance is commendable, investors should practice due diligence, consider market trends, and gauge risk when investing in ALGO or other digital assets.This makes algo an interesting choice for an investment

What is ALGO Token used for?

Algorand's (ALGO) ecosystem boasts a multifaceted utility: Utility Token of Algorand ALGO serves as the primary currency for transaction fees within Algorand's diverse applications. By staking ALGO, holders participate in the consensus process, bolstering the network's robustness. In return, they gain passive earnings from block creation transaction fees. Invest in ALGO Algorand's compatibility with Ethereum boosts its appeal. As developers and users increasingly embrace the platform, the upward movement in ALGO's price solidifies it as an investment-worthy asset. Generate Steady Earnings Multiple avenues exist for ALGO holders to earn passively. Beyond Algorand blockchain staking, investors can stake on DeFi platforms and exchanges. Lending ALGO on platforms like KuCoin also offers lucrative returns, propelling portfolio growth.

How to stake ALGO on Algorand network

Earning passive income through ALGO staking on the Algorand network is both beneficial and supportive of the blockchain. Here's a step-by-step guide to stake your $ALGO: Get an ALGO-compatible wallet. Some popular choices are Pera Wallet, Atomic Wallet, and Ledger Wallet. Procure ALGO on platforms like KuCoin, then transfer to your wallet. Navigate to the Algorand governance platform, typically located in the staking or governance section of your wallet. Look for the delegate ALGO option within this portal and click on it. A list of validators will appear. These entities ensure the network's security. Note that rewards may differ based on your validator selection. Finalize your delegation and authenticate the transaction using your wallet.

How much can you make from staking ALGO?

The current estimated reward rate of Algorand is 6.86%. This means that, on average, stakers of Algorand are earning about 6.86% if they hold an asset for 365 days.

How often are ALGO rewards distributed?

The Algorand Governance initiative operates in three-month cycles, comprising a registration stage, a balloting phase, and a reward distribution period. ALGO incentives are dispensed within the initial week following the cycle's conclusion
Cryptocurrency investments, including buying Algorand online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Algorand, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your Algorand purchase. This page and any information included are not an endorsement of any particular cryptocurrency.

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