Algorand is a blockchain that aims to create a transparent system in which anyone can succeed through decentralized projects and applications. The Algorand Foundation assists developers in launching the network and developing it. The main mission is to make a reliable and seamless economy a reality.
Algorand was founded in 2019. However, the price of the ALGO coin began its price growth in January 2021. Let’s find out what to expect from Algo cryptocurrency and is it a good investment to diversify your crypto portfolio.
What is Algorand?
Algorand is a public blockchain and a protocol that aims to accelerate transaction speed. Algo is a native cryptocurrency of this blockchain. ALGO coins perform the same task as fiat paper money so that they can be used for buying and selling goods and services. Simply saying, they are used for instant transactions. The project was initiated by Algorand Foundation in 2019. The CEO is Silvio Micali, who is a MIT technology professor.
Some DeFi projects have already started to use the Algorand development base. Among all the partners, there are such companies as Ledger, Blockstack, Chainalisys, Circle, and more. Tether uses Algorand to provide USDT transactions at over 1,000 transactions per second in a scalable, secure, and decentralized way. Moreover, Algo became a platform for the development of a national digital currency in the Marshall Islands, named SOV.
Algorand smart contracts have several use cases, for example:
- Loan payments and fee execution
- Limit orders
- Decentralized exchanges
- Cross-chains atomic transfers, and more.
Algorand has another product – a cryptocurrency wallet, which has a clean and easy-to-use design. The wallet allows staking, notifications, statistics/rates, send and receive crypto. Algo wallet is secured by a limited number of PIN entry attempts. Another feature is Algorand rekeying, which is actually a collaboration with Ledger Nano X hardware wallet. Rekeying allows users to update an account configuration without changing Algo public address in the wallet.
Algorand Price Prediction 2021
Algorand shows a positive trend and perhaps is going to keep it throughout the following years. Let’s review some of the most popular opinions.
According to Gov.capital, ALGO can go up by 61%, reaching $1.8 by the end of the year. If you invest $100 now, you will get about $160 in one year. Digital Coin Price claims Algorand cryptocurrency to be a profitable investment. As in the previous case, the price will increase by 63% by the end of 2021, so that one ALGO will be worth $1.88.
Wallet Investor doesn’t promise us huge heights too. ALGO might go up to the $1.6 mark this year. The earning potential is just 36%. However, Cryptocurrency Price Prediction (dot com) promises us a much more bullish scenario. By the end of 2021, the price of one Algo will be more than $3.
ALGO Price Prediction 2022
In 2022, the price of ALGO is expected to grow slightly. So, the rate can reach the $2 mark. In the middle of the year, Algorand cryptocurrency will gain price and reach $2.2. However, by the end of 2022, ALGO price will correct to $2 again.
Algorand Price Prediction 2025
In 2025, ALGO will start the year at the $3 mark and rise to $4 throughout the year. According to the bullish scenario by Cryptocurrency Price Prediction, the price of Algorand can reach almost $18.
The whole Algorand tech stack is impressive. The project is scaling-oriented so it might play its part in top cryptocurrencies row. In 2021, the Algorand CEO plans to expand the finalized tps from 1,000 to 46,000 with the help of a trustful approach to block pipelining. Sounds very promising!
Frequently Asked Questions
Here we have collected the most popular questions regarding the Algorand project and its cryptocurrency.
Does Algorand have a future?
Definitely yes! Algorand is developing not only in smart contracts but also in a hyped sector of decentralized finance. When the crypto project can be flexible depending on a trend – it’s a good sign.
Is Algorand a good investment?
As you can see from the predictions above, you can make a profit from ALGO cryptocurrency. With Changelly, you can easily buy Algorand via credit card and Apple Pay. It is very convenient and friendly for newcomers in the crypto market. You can easily switch between fiat money and cryptocurrencies due to the low commission fee and immediate activation of transactions on your account.
How much will Algorand be worth?
Algorand cryptocurrency can reach $2 by the end of 2021, and even $17 by 2025. The crypto market is volatile and the price can change dramatically.