$2.77T
Total marketcap
$79.66B
Total volume
BTC 49.96%     ETH 17.08%
Dominance
Algorand

Algorand ALGO Price

$0.1985 4.7153%
  • BTC 0.0000028
  • ETH 0.000051

Algorand Price chart

Sorry, that's all we've gotfor now...

Statistics

Algorand Price $0.1985 All-time high $3.56 Days since ATH 1803
Price change $0.00894 (4.7153%) Date of ATH Jun 20, 2019 % of ATH -94.42%

Algorand Review

Algorand (code: ALGO)

Founded Date: Jan 1, 2017

Founders:

Silvio Micali
Silvio Micali
Founder

Algorand(ALGO) - Coin Trading Data

Algorand Price $0.1985
Ticker ALGO
Market Capitalization $1.62B
Fully Diluted Valuation (FDV) $1.62B
Value 24h low $0.1874
Value 24h high $0.1998
Trade Volume for 24h $43.79M
Current Circulating Supply 8.17B
Maximum Supply 8.17B
Algorithm
ICO Price and ICO ROI 2.4 USD 0.08x
Price Change 24h % 4.7153%
ALGO quote $0.1985
Fully Diluted Valuation (FDV) $1.62B

Algorand(ALGO) ATH - All Time High Price

Algorand ATH Price $3.56
ALGO quote 1803
ATH Date Jun 20, 2019
All Time High % -94.42%

Algo Profile

Algorand is a project that generates multiple options to use cryptocurrency using increased transaction speed. Algorand uses the Proof-of-Stake (PoS) consensus mechanism and shares rewards among all holders of its proprietary ALGO cryptocurrency.

Algorand's public blockchain, powered by stacking, now enables the development of decentralized applications (dApps) and makes the network more scalable. The platform has already been used in real estate, copyright, microfinance, and so on.

Moreover, the Algorand network has low computational requirements for transactions, and as a result it serves as a reliable and independent platform with affordable transaction fees. In essence, developers are trying to overcome something called the "blockchain trilemma":

  1. Decentralization: the network should not be controlled from a specific position.
  2. Security: the system must be resistant to bugs, malware attacks, and other problems.
  3. Scalability: The blockchain must be scalable to handle a huge number of users.

Originally, the Algorand developers focused the blockchain platform on creating decentralized solutions in different sectors of the commercial economy. But over time, the network began to be used in the areas of real estate, government, copyright, finance, issuance of tokenized shares, etc.

The largest partnership is the development of the Marshall Islands' national digital currency based on Algorand. It was announced in March 2020 by SFB Technologies, which is involved in the project.

Algorand features:

  • Reduced risk in settlement.
  • Low cost of transaction processing and low entry barrier.
  • Flexible implementation, with the possibility of adapting to specific conditions.
  • Ability to create complex applications using TEAL.
  • Scalable, fast and secure execution.

History of Algorand

  • In 2017, Italian and American computer scientist and Turing Prize winner Silvio Micali, in collaboration with Professor Jin Chen, released a project white paper.
  • In the summer of 2018, the development team launched a closed test network Algorand, which demonstrated to potential investors all the advantages of the new blockchain.
  • In 2019, when $60 million was raised through token sales, the team launched the main network and the native coin with the ALGO ticker.

ALGO Token

ALGO's full offering of ten billion coins was released as part of a pre-mine. Most of it was split between the team, early investors, and the uncommercial organization Algorand Foundation.

ALGO's release schedule has been seriously reconsidered since launch. The support program has distributed 3.1 billion ALGOs over 2020-21. Over 2021, the number of ALGOs in circulation increased from 3.11 billion to 6.97 billion.

The founders originally planned to distribute all the coins by 2024, but now the date has been shifted to the next decade. New coins are distributed as follows: you need to create a non-custodial wallet and deposit at least one token. The storage reward is transferred after a new block is generated, about once every ten minutes.

This mechanism makes the coin the easiest and most convenient to earn passive income from staking. According to current plans, the remaining blockchain coins will be distributed by 2030 as grants, staking awards, management, and retransmission node maintenance.

The Algorand cryptocurrency token serves the following purposes:

  • Providing consensus in the network
  • Transaction fees: the standard fee is approximately $0.0014.
  • Management of the system development
  • Rewards for staking and for voting members (the opportunity to become a blockchain validator).
  • Storage in a wallet and payment for purchases.

Staking

The main advantage of Algorand that attracts many users is its random selection of validators who have coins in staking. Every user in the network has a chance to become a validator who proposes a new block and makes it valid.

After that, the solution is double-checked by other community members and written into the chain as a correct block. If the block turns out to be incorrect, a new validator will be elected and then the process repeats.

Validators are rewarded with ALGO coins, which are also used in the consensus mechanism and for transaction fees.

Pure Proof of Stake

Participants are selected according to the following principle: the more coins in the staking, the higher is the chance of the account to participate in the creation procedure; accounts with a minimum number of coins also have the chance to pass.

Algorand and Ethereum

Increasing commissions for Ethereum have caused DeFi developers to turn their attention to Algorand for app development. Transaction fees in Algorand are generally lower than in the Ethereum network.

Both Algorand and Ethereum 2.0 use Proof of Stake to generate new coins. However, participants in the Algorand network need only one ALGO coin to participate. Meanwhile, Ethereum 2.0 requires 32 Ethereums which is a much higher barrier to entry.

NFT

NFT tokens are very popular right now, and many companies are using them for a variety of purposes. Algorand is the big player in NFT industry: Italy's largest copyright agency, SIAE, creates NFTs representing authors' rights on the Algorand blockchain. Algorand also supports Fractional NFT technology, which allows several people to own tokenized assets.

DApps

Algorand supports development of decentralized applications and provides SDKs for JavaScript, Python, and Java. All this is accompanied by excellent documentation from the community. Algorand has already developed many DApps starting from crowdfunding apps to COVID tracker, and their number is constantly increasing.

Token Storage

You can create a My Algo web wallet.

Instructions on how to create one:

  1. Go to the link and click "New Wallet."
  2. Accept the terms of the agreement and create a strong password.
  3. Click "Create Wallet", and save the seed.
  4. Confirm the save and enter the password.

You can log into the interface through a browser or use the Ledger hardware safe. There is also a mobile app for Android and iOS platforms.

Pros and Cons of Algorand

At this point we can highlight the following pros and cons of Algorand

AdvantagesDisadvantages
Unlimited scalabilityLow liquidity of the coin
Impossibility of blockchain branchingPotential vulnerability of the system
Secure three-level protocolHigh level of competition in this market segment
Decentralization
Low transaction fee

Summary

Algorand is evolving dynamically and at the moment about a thousand projects are developing applications based on its blockchain. The coin has a real demand, and the project's blockchain can be used in different spheres: from payment applications to DeFi-protocols and NFT. Among the main disadvantages of ALGO is the weak liquidity of its coin. Although the coin is traded on all major exchanges, it cannot yet boast large trading volumes and liquidity.

How much is a one Algorand worth now?

1 Algorand worth $0.1985 now.

What is the price of ALGO?

The price of ALGO is $0.1985.

What is the Algorand max supply?

The max supply of Algorand is 8.17B.

What is the Algorand stock symbol or ticker?

The stock symbol or ticker of Algorand is ALGO.

How many ALGO coins are there in circulation?

There are 8.17B coins in circulation of ALGO.

What is the exchange rate of Algorand(ALGO)?

The exchange rate of Algorand is $0.1985.

What was Algorand's trading volume in 24 hours?

Algorand's 24-hour trading volume is $43.79M.

What was the highest price paid for Algorand?

Algorand reached a record high of $3.56 on Jun 20, 2019

Algorand Exchange Rates on Trading Markets

# Exchange Pair Price 24h volume Volume % Updated
1 Binance Binance ALGO/USDT $0.1989 $6.2M 15.48% 22 minutes ago
2 Upbit Upbit ALGO/KRW $0.2003 $4.21M 10.51% 6 minutes ago
3 WhiteBIT WhiteBIT ALGO/USDT $0.1975 $3.43M 8.57% 6 minutes ago
4 Bibox Bibox ALGO/USDT $0.1975 $3.3M 8.24% 3 minutes ago
5 XT.COM XT.COM ALGO/USDT $0.1975 $3.12M 7.8% 7 minutes ago
6 Gate.io Gate.io ALGO/USDT $0.1982 $2.59M 6.46% 2 minutes ago
7 Bitrue Bitrue ALGO/USDT $0.1982 $2.11M 5.26% 9 minutes ago
8 Bybit Bybit ALGO/USDT $0.1982 $2.09M 5.22% 13 minutes ago
9 Coinbase Exchange Coinbase Exchange ALGO/USD $0.1975 $1.78M 4.45% 4 minutes ago
10 OKX OKX ALGO/USDT $0.1975 $1.67M 4.17% 3 minutes ago
11 AscendEX (BitMax) AscendEX (BitMax) ALGO/BTC $0.1968 $1.28M 3.2% 4 minutes ago
12 LBank LBank ALGO/USDT $0.1975 $1.24M 3.09% 5 minutes ago
13 Bitvavo Bitvavo ALGO/EUR $0.1982 $1.12M 2.81% 8 minutes ago
14 Trubit Trubit ALGO/USDT $0.1975 $1.07M 2.67% 3 minutes ago
15 KuCoin KuCoin ALGO/USDT $0.1975 $977.21K 2.44% 3 minutes ago
16 AscendEX (BitMax) AscendEX (BitMax) ALGO/USDT $0.1982 $736.29K 1.84% 5 minutes ago
17 HTX HTX ALGO/USDT $0.1975 $687.03K 1.72% 3 minutes ago
18 DigiFinex DigiFinex ALGO/USDT $0.1975 $597.87K 1.49% 4 minutes ago
19 Coinstore Coinstore ALGO/USDT $0.1989 $577.67K 1.44% 10 minutes ago
20 Bithumb Bithumb ALGO/KRW $0.2003 $538.69K 1.35% 7 minutes ago