Algorand

ALGO

USD

$0.095507 ≈ $ 0.095507

+￥5204,24 -1.6494% 1D

1D 1M 1Y ALL

Updated: 2023-09-27

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Market Cap (USD)	746.95M
24H Volume	22.07M
Circulating Supply	7.83B ALGO
Maximum supply	10B ALGO
All Time High	3.56
Rank	49

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About Algorand (ALGO)

Algorand, Inc. in Boston is responsible for the design and development of the Algorand platform. In 2017, the company was founded by Silvio Micali, a professor of computer science at the Massachusetts Institute of Technology and a Turing prize winner. The test network will be listed in April 2019, and the mainnet will be launched in June 2019.

Algorand is a cryptocurrency platform based on blockchain, aiming at security, high scalability and decentralization. The Argoland platform supports smart contract functions. Its consensus mechanism is based on the principle of proof of stake and Byzantine consensus protocol. The platform's native cryptocurrency is called Algo. In addition, using Algorand, you can also create a customLayer 1 blockchain.

How does Algorand (ALGO) work?
Algorand's pure proof of stake consensus mechanism helps to decentralize the power in the traditional proof of stake model. Anyone who wants to participate and stake (even if the amount is small) has the opportunity to be randomly selected as a validator or block proposer.

ALGO is the native token of Algorand, with a maximum supply of 10 billion. The goal of the project is to complete distribution by the end of 2030. You can earn ALGO by holding at least one ALGO in an unmanaged-type wallet, and APY is expected to reach approximately 5-8%.

ALGO is suitable for investors who want to passively obtain returns without staking tokens. You can also use tokens to pay network transaction fees and stake when generating consensus.

What is Algorand (ALGO)？
Algorand is a decentralized, efficient and sustainable blockchain platform designed to support various types of economic models, from decentralized finance to NFT digital art. Algorand relies on pure proof of share (PPOS consensus mechanism) to solve the problems of decentralization, security and scalability of blockchain. Another unique feature of Algorand is that it has cooperated with ClimateTrade to establish a negative carbon network and is determined to become the greenest blockchain.

Like other ecosystems, Algorand introduces its native currency ALGO into the economy, enabling users to pay transaction fees based on Algorand and have the right to govern the community.

Algorand (ALGO) Crypto Wallet
In addition to placing ALGO in the Gate.io exchange to facilitate trading, ALGO can also be placed in the crypto wallet.

The safe and open source community driven Pera wallet is the simplest and safest way to store, purchase and exchange on the Algorand blockchain.

Pera wallet is built and maintained by Hipo's expert team, which is the team behind Tinyman, Vesta Equity, Aorist, Algorand governance platform and many other successful Algorand projects.

Pera wallet is fully committed to the Algorand ecosystem.

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Algorand Market

Currency	Price	24h Change	Action
ALGO /USDT Spot	$0.095507	-1.6494%	Trade
ALGO /USDT Perpetual	$0.0974	+2.42%	Trade
ALGO /USDT 3X Margin	$0.095507	-1.6494%	Trade

Algorand(ALGO) Links

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Algorand FAQs

1. What determines the price of Algorand?

There are two schools of thought in determining the price of Algorand.

By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Algorand, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Algorand from a long term perspective.

By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Algorand on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Algorand as well.

HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Algorand and the cryptocurrency market as a whole.
2. What is the highest price of Algorand in history?

Algorand achieved the all-time high of $3.56 in 2019-06-20T14:51:19.480Z, and is currently trading at $0.096.
3. What is the lowest price of Algorand in history?

In 2023-09-11T19:42:08.247Z, Algorand reached the all-time low of $0.088.
4. Should I buy Algorand now?

It is important to remember that Algorand, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.