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Market Cap
$ 1,553,808,151
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Total Volume
$ 65,435,882
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24 Hour
-3.24%
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7 Day
10.56%
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Algorand Price Prediction: 2024, 2025, 2030

Algorand price prediction, ALGO’s price has dumped by -3.24% in the last 24 hours.
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Algorand
Price Prediction
Algorand, ALGO could hit $0.49 in 2024
Algorand’s price prediction for the most bearish scenario will value ALGO at $0.15 in 2024.
Algorand’s previous All Time High was on 20 June 2019 where ALGO was priced at $3.56.

Algorand’s price at the same time last week was $0.18. It has moved by 10.56 % in the past week and is currently at $0.19. Infact, in the past 24 hours, ALGO has dumped by -3.24 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and ALGO could hit $0.26 in 2025.

The total circulating supply of Algorand as of writing this article was $8044573163.40 and the marketcap of ALGO remains at $1,553,808,151

Disclaimer

For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.

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About Algorand

 

Algorand (ALGO): An overview

Source: Algorand/X

 

Algorand (ALGO) is a decentralized, public blockchain platform designed to address some of the main challenges faced by legacy blockchain systems, particularly in terms of scalability, security, and decentralization.

 

The blockchain platform aims to create a borderless economy where everyone can participate equitably and transparently. To achieve this, Algorand offers a plethora of features:

 

Scalability: Algorand is built to handle a high throughput of transactions, rivaling major global payment gateways. This scalability ensures that as adoption grows, the network remains efficient. 

 

On Algorand, every 3.3 seconds, a block is generated, accommodating up to 25,000 transactions. This leads to a transaction capacity of approximately 7,500 transactions per second (TPS).

 

Smart contracts: While also offering smart contract functionality, Algorand opens doorways for decentralized applications (dApps). This function makes the blockchain useful for financial services, decentralized finance (DeFi), institutions, and ultimately for the users.

 

Atomic swaps: Additionally, atomic swaps allow for instantaneous cross-chain exchanges, increasing interoperability.

 

Two-tiered structure: Algorand employs a dual-layer blockchain architecture to balance rapid performance with the demands of complex applications. The foundational layer, Layer 1, facilitates the creation of Algorand Standard Assets (ASA), which can represent novel or pre-existing tokens on the chain, as well as enable atomic swaps and basic smart contracts on Algorand.

 

On the other hand, the advanced Layer 2 is tailored for intricate smart contracts and dApps that operate off-chain.

 

Developer tools: For developers, Algorand offers the flexibility to author smart contracts using Python. Additionally, to integrate with on-chain assets or applications, they can choose from one of the four available SDKs: PythonJavaScriptGolang, or Java.

 

Open-source nature: The Algorand protocol is entirely open-source. This transparency fosters innovation and community collaboration and ensures the platform's trustworthiness and adaptability for future technological advancements.

 

ALGO

Source: Algorand/X

 

ALGO is the native coin of Algorand's blockchain. As a versatile coin within the crypto space, it has several use cases:

  • Transaction fees: The coin is used to pay transaction fees on the Algorand network.
  • On-chain purchases: ALGO is used for buying on-chain items, including non-fungible tokens (NFTs).
  • Goods and services: It is used as a form of payment for various goods and services.
  • DeFi: ALGO holders can participate in various DeFi activities, both as users and investors.
  • Governance participation: Holders of ALGO can participate in the governance of the Algorand network, making decisions about its future direction.
  • Consensus mechanism: ALGO is also essential for securing consensus among participation nodes.

The maximum supply for ALGO is fixed at 10 billion. Even though all coins were pre-minted at the network's inception, the circulating supply will gradually increase as these pre-minted coins are unlocked and distributed over time. As of September 2023, 7,832,296,592 ALGOs are in circulation.

 

Q1 2023 signified the Algorand Governance Period 6. During this period, governors decided on the allocation of 68.2 million ALGO, split as follows:

  • General governance: 53.2 million ALGO
  • General DeFi rewards: 15.0 million ALGO

To ensure sustainable growth and a transparent future, the Algorand Foundation introduced a revised long-term Algo Dynamics model. This model is intended to guide the platform's progress over a period extending beyond a decade, potentially up to the year 2030.

 

How does Algorand work?

Source: Algorand.com

 

Algorand operates using a unique approach that stands out in the blockchain space, primarily leveraging its Pure Proof-of-Stake (PPoS) consensus mechanism and its dual-node structure comprising relay and participation nodes.

 

PPoS 

Unlike Proof-of-Work (PoW), which involves computational puzzles, Algorand uses the unique PPoS algorithm.

 

For each round of block generation, a committee of token holders is randomly selected to propose and validate a block. The likelihood of being chosen relates to the number of ALGOs they hold. This selection process is secretive, minimizing the risk of attacks.

 

Once a block is added to the chain in Algorand, it's final. This eliminates forks and provides certainty about transactions.

 

Relay nodes

Relay nodes serve as the primary communication infrastructure for the network. They are responsible for transferring data (like transactions and blocks) efficiently across the network.

 

Relay nodes connect to multiple other nodes, both relay and participation, ensuring data propagates rapidly and reliably.

 

Participation nodes

These nodes actively participate in the PPoS consensus process. They can be chosen to propose a block or to be part of the committee that validates and votes on a block.

 

Participation nodes predominantly communicate with the network through relay nodes, acting as a second layer that engages directly in the consensus process.

 

Algorand’s journey

Source: Algorand.foundation

 

The primary inventor behind Algorand is Silvio Micali, a Turing Award-winning cryptographer and a professor at MIT. Micali co-authored the Algorand white paper with Jing Chen in 2017.

 

The Algorand Foundation, based in Singapore, has been the primary force in supporting and funding the research and advancement of the Algorand protocol. In 2019, Algorand's mainnet was launched, and its first auction took place, marking the beginning of its public existence.

 

In September 2021, the blockchain announced the launch of its Layer 1 protocol: Algorand Virtual Machine.

In the following November, the momentum continued as the network witnessed the introduction of Algomint, the next-generation DeFi infrastructure. This project bridged popular assets to and from other blockchains to the Algorand blockchain.

ALGO Price Analysis

ALGO's weekly chart from September 2022 to September 2023 painted a predominantly bearish picture. At the time of writing, the cryptocurrency was trading at $0.0972. September 2022 had begun promisingly, with ALGO challenging its peak resistance at $0.41, comfortably supported at $0.28. But this support level wasn’t as strong as the bulls thought.

 

ALGO weekly chart

 

Starting from November 2022, this foundation was shaken, subsequently sending the price into a downward spiral. The downturn saw the bears exerting a formidable force, morphing the previous $0.28 support into a resistance level.

 

January 2023 witnessed the bulls attempting a rally, bringing with it a glimmer of hope. This optimism peaked in February 2023 when the price brushed against the $0.28 mark. Unfortunately, this rally was ephemeral, and the price failed to break through this resistance. This inability to cross led to a continuation of the downtrend.

 

Subsequent months saw the price attempting to consolidate at the $0.20 mark. Traders hoped that this would be the new stable support level. However, the bears remained in control and pushed the price further down, with $0.09 emerging as the most recent and lowest support level by the time of this writing.

 

Regarding volume, ALGO experienced a noticeable surge in November 2022. Post this surge, the volume began to thin out and maintained its decreased state throughout the year, suggesting a lack of strong interest or trading activity among market participants.

 

The Directional Movement Index (DMI) threw light on the sustained bearish momentum. Moreover, the negative directional index (-DI) consistently overshadowed both the positive directional index (+DI) and the average directional index (ADX line).

 

Though +DI attempted to break free twice—first in October 2022 and then in February 2023, reaching approximately 23.3 on both occasions—it failed to instigate a sustainable bullish move.

 

However, it's worth noting that the ADX line began an upward trajectory in June 2023 and even surpassed -DI by September 2023. This indicated an increasing trend strength, albeit in a bearish direction, as per the current data.

 

The On-Balance Volume (OBV) metric followed a downward trajectory. It experienced a significant decline between November to December 2022. For the remainder of the analyzed period, the OBV primarily formed lower troughs, suggesting consistent selling pressure outweighing buying interest.

 

Should you consider buying ALGO?

Based on the insights provided by the volume, OBV, and DMI indicators, the trading signal leans toward a “sell” for ALGO. The prevailing bearish trend, paired with low volumes and the sustained dominance of -DI, paints a bleak immediate outlook. 

 

For traders considering purchasing ALGO, it might be prudent to either wait for confirmed signs of a trend reversal or to consider implementing risk-management strategies, like setting tight stop-loss orders, to safeguard against potential further declines.

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Algorand Price Prediction

Algorand has had an eventful 2021. To simplify the latest ALGO price prediction, we have divided up the prediction by short term Algorand price prediction and long term Algorand price prediction. As of writing this article, ALGO had a trading volume of 65,435,882. Algorand has gone up by 12.76% in the past 30 days.

According to our analysis in the short term, Algorand price prediction for April 2024 shows the average price of ALGO at 0.41 and the highest possible price for April 2024 would be $0.44.

Further, according to our analysis in the long term, Algorand price prediction for August 2024 shows the average price of ALGO at 0.41 and the highest possible price for August 2024 would be $0.44.

Algorand's Short Term Price Prediction

DateAvg PriceLowest PriceHighest Price
21 February 2024$0.21$0.2$0.23
22 February 2024$0.22$0.2$0.23
23 February 2024$0.22$0.21$0.24
24 February 2024$0.23$0.21$0.25
29 February 2024$0.26$0.24$0.28
5 March 2024$0.3$0.28$0.32
15 March 2024$0.37$0.34$0.39
April 2024$0.41$0.38$0.44
May 2024$0.41$0.38$0.44
June 2024$0.41$0.38$0.44
July 2024$0.41$0.38$0.44
August 2024$0.41$0.38$0.44
September 2024$0.41$0.38$0.44
October 2024$0.41$0.38$0.44
November 2024$0.41$0.38$0.44
December 2024$0.41$0.38$0.44

Algorand price prediction 21 February 2024: Algorand's price for 21 February 2024 according to our analysis should range between $0.2 to $0.23 and the average price of ALGO should be around $0.21.

Algorand price prediction 22 February 2024: Algorand's price for 22 February 2024 according to our analysis should range between $0.2 to $0.23 and the average price of ALGO should be around $0.22.

Algorand price prediction 23 February 2024: Algorand's price for 23 February 2024 according to our analysis should range between $0.21 to $0.24 and the average price of ALGO should be around $0.22.

Algorand price prediction 24 February 2024: Algorand's price for 24 February 2024 according to our analysis should range between $0.21 to $0.25 and the average price of ALGO should be around $0.23.

Algorand price prediction 29 February 2024: Algorand's price for 29 February 2024 according to our analysis should range between $0.24 to $0.28 and the average price of ALGO should be around $0.26.

Algorand price prediction 5 March 2024: Algorand's price for 5 March 2024 according to our analysis should range between $0.28 to $0.32 and the average price of ALGO should be around $0.3.

Algorand price prediction 15 March 2024: Algorand's price for 15 March 2024 according to our analysis should range between $0.34 to $0.39 and the average price of ALGO should be around $0.37.

Algorand price prediction April 2024: Algorand's price for April 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction May 2024: Algorand's price for May 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction June 2024: Algorand's price for June 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction July 2024: Algorand's price for July 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction August 2024: Algorand's price for August 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction September 2024: Algorand's price for September 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction October 2024: Algorand's price for October 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction November 2024: Algorand's price for November 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand price prediction December 2024: Algorand's price for December 2024 according to our analysis should range between $0.38 to $0.44 and the average price of ALGO should be around $0.41.

Algorand's Long Term Price Prediction

Algorand’s long term Price Prediction below is a look at ALGO’s future prospect with regards to price. Algorand was last seen at $0.19, with a market cap of $1,553,808,151 and trading volumes of $65,435,882. ALGO’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.

YearsAvg PriceLowest PriceHighest Price
2024$0.41$0.33$0.49
2025$0.22$0.17$0.26
2026$0.22$0.18$0.27
2027$0.22$0.18$0.27
2028$0.22$0.18$0.27
2029$0.22$0.18$0.27
2030$0.23$0.18$0.27
2031$0.23$0.18$0.27
2032$0.23$0.18$0.27
2033$0.23$0.18$0.28
2035$0.23$0.18$0.28

Algorand price prediction 2024: Algorand's price for 2024 according to our analysis should range between $0.33 to $0.49 and the average price of ALGO should be around $0.41.

Algorand price prediction 2025: Algorand's price for 2025 according to our analysis should range between $0.17 to $0.26 and the average price of ALGO should be around $0.22.

Algorand price prediction 2026: Algorand's price for 2026 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.22.

Algorand price prediction 2027: Algorand's price for 2027 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.22.

Algorand price prediction 2028: Algorand's price for 2028 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.22.

Algorand price prediction 2029: Algorand's price for 2029 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.22.

Algorand price prediction 2030: Algorand's price for 2030 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.23.

Algorand price prediction 2031: Algorand's price for 2031 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.23.

Algorand price prediction 2032: Algorand's price for 2032 according to our analysis should range between $0.18 to $0.27 and the average price of ALGO should be around $0.23.

Algorand price prediction 2033: Algorand's price for 2033 according to our analysis should range between $0.18 to $0.28 and the average price of ALGO should be around $0.23.

Algorand price prediction 2035: Algorand's price for 2035 according to our analysis should range between $0.18 to $0.28 and the average price of ALGO should be around $0.23.

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A Historical look at Algorand, ALGO’s price

ALGO/USD Pair

ALGO
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USD
20 February 2021
1.38
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ALGO
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USD
20 February 2022
0.9
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65.31
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ALGO
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USD
20 February 2023
0.27
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30.84
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ALGO
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USD
20 February 2024
0.19
signal-icon
69.86
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ALGO/Euro Pair

ALGO
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EUR
20 February 2021
1.14
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ALGO
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EUR
20 February 2022
0.79
signal-icon
69.91
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ALGO
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EUR
20 February 2023
0.26
signal-icon
32.68
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ALGO
compare-icon
EUR
20 February 2024
0.17
signal-icon
69.08
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FAQs about Algorand

What is the price of Algorand as of today 20 February 2024?

Algorand’s current price is $0.19 and witnessed a -3.24% decrease in the past 24 hours. ALGO/BTC pair saw a -3.55% decrease in the past 24 hours

Is ALGO a good investment?

Investing in Algorand, ALGO will purely depend on your personal risk appetite. As you can see over the past 24 hours Algorand’s price has witnessed a -3.24% decrease and over the past 30 days Algorand has increase by 12.76%. So it all depends on if this investment will hit your trading goals.

How high can Algorand’s price go this year in 2024?

According to our latest Algorand Price prediction for 2024, ALGO should vary between $0.49 and $0.33. Please keep in mind that the crypto market is very volatile and this Algorand price prediction does not account for extreme wild swings in price.

How much will the Algorand be worth in 2024 ?

As per the Algorand price prediction 2024 model above, ALGO’s price for February 2024 should range between $0.33 to $0.49 with the average price for February being $0.41

How much will Algorand be worth in 2025?

According to the Algorand Price Prediction model above, ALGO’s price in 2025 would be $0.22. This price would however would range from $0.26 and $0.17.

How much will Algorand be worth in 2026?

According to the Algorand Price Prediction model above, ALGO’s price in 2026 would be $0.22. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2027?

According to the Algorand Price Prediction model above, ALGO’s price in 2027 would be $0.22. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2028?

According to the Algorand Price Prediction model above, ALGO’s price in 2028 would be $0.22. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2029?

According to the Algorand Price Prediction model above, ALGO’s price in 2029 would be $0.22. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2030?

According to the Algorand Price Prediction model above, ALGO’s price in 2030 would be $0.23. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2031?

According to the Algorand Price Prediction model above, ALGO’s price in 2031 would be $0.23. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2032?

According to the Algorand Price Prediction model above, ALGO’s price in 2032 would be $0.23. This price would however would range from $0.27 and $0.18.

How much will Algorand be worth in 2033?

According to the Algorand Price Prediction model above, ALGO’s price in 2033 would be $0.23. This price would however would range from $0.28 and $0.18.

How much will Algorand be worth in 2035?

According to the Algorand Price Prediction model above, ALGO’s price in 2035 would be $0.23. This price would however would range from $0.28 and $0.18.

What was the highest price of Algorand?

The highest price for Algorand was recorded in 20 June 2019 during which ALGO hit an All Time High of $3.56

What is the price of 1 Algorand?

The price of 1 Algorand according to current market rate is $0.19