The cryptocurrency is evolving fast and is all set to become mainstream soon. Many altcoins are entering the crypto market by offering unique features. Algorand cryptocurrency is one such altcoin that has been launched with the 3 purposes for :
The Algorand network has been built on the basis of Proof of Stake (PoS) mechanism. The native token of this network is called ALGO, which can be used as a payment gateway for paying fees within the network. You can trade Algorand coins (ALGO) through major cryptocurrency exchanges such as Coinbase, Coinmama, OKEx, Huobi, Binance, or decentralized exchanges.
If you are interested in investing in Algorand (ALGO) token, you should have an idea of the extent of increase in its price in the coming years, especially in the coming 5 years. Is investing in Algorands market a profitable investment?
To understand this, let me walk you through some of the important aspects of Algorand coins, facts, figures, and Algorand crypto currency forecast so that you can have an idea how much you may expect your investment to grow in the coming 5-years from now. At the end of this article, I’ll let you know the crypto currency prediction of ALGO price (ALGO / USD forecast) by the end of 2021, 2022, and 2025-2026.
All these facts and figures will help you to make a decision on investing in Algorand by making ALGO price prediction:
Algorand was founded by an MIT (Massachusetts Institute of Technology) professor of computer science, Silvio Micali. It went live in June 2019. The Algorand network is a recognized public cryptocurrency blockchain whose protocol can deliver decentralization as well as security for the participants. The best thing about this platform is that it is capable of handling around 1 million transactions per day. The Algorand network is reliable, scalable, and safe.
One thing that you must know is that the Algorand blockchain platform is the first ever pure proof of stake foundational blockchain. It comes with an advanced technology, providing a set of efficient layer-1 blockchains offering in-built privacy, high security, and amazing scalability.
The Algorand network aims in building a global trust through decentralization. They want to offer users with an efficient and elegant technology that will drive adoption by billions. Many feel that Algorand has the potential to become Ethereum killer and will experience exponential price increase, just like what Solana price is experiencing currently.
Before I forecast Algorand price, it is important to know the fundamentals of the platform, technology, and native token.
The Algorand platform is designed for offering next gen:
This network of Algorand works as a bridge between traditional finance and decentralized finance (DEFi). The users can use the FutureFi product of this network for creating and deploying:
You can use the user-friendly Algorand wallet for interacting with the public network. The watershed moments in the Algorand network are:
The smart contracts were introduced in the Algorand 2.0 update. Custom rules and logic were introduced in the layer 1 smart contracts.
At the beginning of 2021, ALGO price was US$0.3546 (as of January 1, 2021). It started 2021 after a bearish trend in the last quarter of 2020. However, the ALGO price started an upward trajectory against the US Dollar and by mid-February 2021 reached yearly highs at US$1.71.
In mid-to-late February 2021, the price dipped suddenly to around US$1 and started trending sideways. During May-mid-August 2021, it traded below US$1. However, in late-August, ALGO price again started moving uphill. The spurt in price came in early September 2021. ALGO price doubled in just 10 days from around US$1 to over US$2 and went to hit a 90-day high at US$2.54 at around mid-September 2021.
ALGO price prediction by analysts point out that it will experience a price rise at the end of this year. Algorand's prediction of price says that it will reach anywhere from US$4.2 to US$8.56 by the end of 2021.
To get a clear idea of what’s happening in the crypto market, keep an eye on both DeFi news and NFT news. This will help you get a feel of the cryptocurrency forecast of Algorand in the coming years. Keep on reading the elrond price prediction for 2022 and 2025-26.
At the first part of 2022, ALGO may trade around an average price of US$3.85. However, as the Algorand community concentrates on strengthening this protocol and user base, the price of ALGO against the US Dollar will start rising. Algorand price forecast by analysts and experts is US$9.25 by the end of 2022.
The Algorand community is expected to attract many users/marketers in various collaborations with other startups and projects. Experts believe that the community will emphasize more on transparency and security, leading to more widespread adoption. This will, in turn, make the price of ALGO to increase exponentially. As per price forecasts of analysts and experts, the price may hit US$30 by the end of 2025 or 2026.