On this page we take a closer look at Algorand. Transaction speed and scalability of cryptocurrency projects are often the bottleneck. The greater the use of a blockchain, the more difficult it is to keep this speed high. Algorand wants to develop a platform on which everyone can make successful applications.

Anyone can store data on a public ledger. Sales dates, payments, appointments and things like that. It is immediately visible which data is involved and in which order this occurred. Very useful for checking the reliability of the data, but difficult to scale up.

In this article we look at Algorand. We also take a closer look at the ALGO coin and discuss the Algorand forecast for the future. With this we hope to give you a better idea of ​​the question: “Is Algorand a good investment?”. What will the Algorand crypto do?

What is Algorand?

Algorand is a blockchain project that works on a transparent system on which anyone can develop successful projects and applications. Due to the consensus mechanism (Proof of Stake), investors not only have an incentive to keep ALGO. It should also improve the performance, security and general use of the network.

The tools that Algorand makes available to developers on the platform should ensure that the Algorand blockchain will be used more. You can think of the possibility to write smart contracts for applications and the ease of use of the platform in general.

It can be difficult for companies to get started in a world of decentralized economies. The better Algorand can eliminate these problems for the users of the platform, the better this will be for the ALGO price.

The use cases that can be created on Algorand are unlimited. The intention is to provide the tools so that cryptocurrency projects can get started with them. Some examples of these possibilities can be found in the video below.

The vast majority of our money (euros, dollars etc) is virtual. It’s all tracked on a ledger. The same goes for insurance and basically everything that our world and economy runs on. Having a reliable ledger is therefore very important.

The reason bitcoin ever got started is for the same reason. A reliable ledger that we can all use without anyone influencing it and this works. The crypto world as a whole is now much bigger than just the storage of financial data.

With ethereum, the smart contract world has also grown and this has led to new developments such as DeFi and NFTs. All data stored on public ledgers. So also all data that needs to be checked via a mechanism before its authenticity can be verified.

This activity is costing more and more computing power because the amount of transactions is rapidly increasing due to these new developments. A good solution must therefore be devised for this and Algorand claims to have found it. Important features of the project are:

  • Minimal amount of calculations. Regardless of the amount of users, the amount of calculations per user will not increase that much. Everyone per 1500 users won’t have to do more than a few via Proof of Stake
  • A new block every 10 minutes. A block will never leave the blockchain and will never take more than 10 minutes to be verified, no matter how busy it is.
  • No entity in charge. The power within the platform rests with users. There is no single entity that has full control over the network or can influence the transactions.

What does the Algorand rate do?

The Algorand coin was first sold during an ICO in June 2019. This sale was very successful. In total, more than $122 million was raised. Investors could buy one ALGO coin for $2.40. The current Algorand rate is $ 0.301814.

The token sale was done according to a so-called Dutch Auction where the first investors could buy ALGO for $2.40 p/s. Within the first four years, these buyers have the option to sell tokens back to the foundation for 90% of the sale price. 25% of the supply is reserved for the team and the foundation and the rest is used for rewards, community distribution and auctions.

If we look at the price, we see very clearly that the ALGO crypto can be seen for the first time on coinmarketcap on June 26, 2019 at a price of $2.16. Immediately after the introduction, the price seems to collapse and then gradually rise again at a lower level. We will see the first major increase in early 2021.

The Algorand All Time High is set at $ 3.56 (June 20, 2019). It has been a total of 1158 days since this rate was reached. The total market cap of the project is at $ 2,080,538,522 and it ranks 33rd among the largest crypto projects.

In my opinion it is very important that you take in such data. Many investors only start from the opinion of others, but what would you believe that when it comes to your money? It is better to form your own opinion based on data and we try to help you with that on this page. Below is therefore the Algorand price chart.

  • Zoom

  • Hour

  • Day

  • Week

  • Month

  • Year

  • All Time

  • Type

  • Line Chart

  • Candlestick

What is the Algorand forecast 2022 – 2027?

Algorand has chosen a very difficult and above all competitive use case. There are many projects that the want to become a new platform for developers to work on. Algorand must therefore distinguish itself well if they want to attract enough new users.

The project has also been called the Ethereum killer. An important advantage it has compared to that project is that it has a maximum supply. On the other hand, a large part of the Algorand crypto has gone directly to the founders and the foundation as opposed to projects that have been sold entirely on the open market. Important points to consider.

Can she do this? Then this is very positive for Algorand and the Algorand crypto outlook for the future. The moment developers create new products on the ALGO blockchain, these products also attract new users. The ball then starts to roll and this is good for the ALGO expectation.

It should be clear that the use case is in any case very important. In view of the increasing interest in a decentralized world with techniques such as NFTs and DeFi, a decentralized ledger that can handle a large number of transactions is becoming increasingly important. Will the project become the go-to ledger? Then no prediction seems too crazy.

If we look at the Algorand forecast for 2022, the terms are short. In a bull or bear market, this period has more influence on the price than the developments of the project itself in most cases. The latest news and other price data can also cause fluctuations in the short term.

If we try to formulate the Algorand forecast for 2027, things are already different. It is never certain that a coin will rise, but in view of the increasing demand for ledgers that can handle large volumes of transactions, the project has potential.

Nothing is certain in the crypto world and the development depends for the most part on the amount of new investors and developers. If they do this well in a period of five years, there is a chance that the project will grow with the general crypto market. At the beginning of 2021, for example, we already saw an increase of 553% within one month.

Historical Price for Algorand

Date Open Close High Low Volume

What is the use of the ALGO coin?

The Algorand coin (ALGO) is the currency on the network. As an investor you buy it if you have confidence in the future price and as a user of the network you pay it to make trades and things like that. You can also use it via Proof of Stake to build a passive income.

To make transactions on the platform, the owners of the ALGO crypto are called upon. By making this available for staking, you will receive a reward and help secure the network. On average, these interest rates are between 7 – 9% per year.

As an investment, it is good to look closely at the scarcity of the Algorand crypto as with most other coins. In total, a maximum of 10 billion tokens will be issued, of which 25% is managed by the founders/foundation. The more tokens of the whole that have already been issued (6,892,664,923 ALGO), the better this is often for the future value.

In the past 24 hours, the exchange rate difference -2.33% and in the last seven days this was -18.35%. By keeping the data on this page side by side and comparing it with other projects, you will hopefully come a step closer to a good portfolio with which you will earn money.

Huidige supply 6,892,664,923 SOMETHING Maximale supply 7,314,445,317 SOMETHING
% difference 24h -2.33% % difference 7D -18.35%

Where to buy Algorand?

Do you want to buy Algorand? Then you can do this on the cheapest exchange in the Netherlands, Bitvavo. You can easily pay with iDEAL and any winnings can also be paid directly to your bank account. Don’t have an account on Bitvavo yet? Then make one below free account and start trading immediately.

Exchange Description Rating
Bitvavo (Our recommendation!☝️) The best choice in NL. The lowest trading costs & easy to use. Receive a welcome bonus with your registration! 4,2/5 Visit exchange
eToro Largest social trading platform in the world. Trade with experts effortlessly and take advantage of their profits! 4,2/5 Visit exchange
Binance The largest exchange in the world, large assortment and many extras such as staking & ICOs 2/5 Visit exchange

The latest Algorand news

I have already mentioned some important things to you on this page that you can consider in your research into the Algorand expectation. The ALGO coin data, historical price data and the usefulness of the token itself. The last major factor in this story is today’s Algorand news.

No day is the same in the crypto world. A lot can therefore happen to the general sentiment, but certainly also to individual projects. By following the ALGO news closely, you are the first to know and you can therefore also be the first to respond to it. Many people only rely on the word of influencers for their investment, but you are actually always behind the facts.