Algorand Crypto: ALGO Price Overview and Its Working 

• 1 ALGO was established by a Turing Award-winning professor Silvio Micali.
• 2 Algorand crypto is originally operated as a payment method and to store values. 
• 3 ALGO is used to transfer money, purchase goods and services, and send messages securely.

Algorand is a decentralized, permissionless blockchain protocol and open-source cryptocurrency utilised to facilitate transactions and constant the network against malicious actors. It’s designed to provide fast, steady, and reliable transactions with low transaction fees and scalability. Algorand (ALGO) is an asset-agnostic, proof-of-stake protocol that can process thousands of transactions consistently with minimal costs.

Algorand’s native cryptocurrency “ALGO” is used as a way of payment and to store the values. It is used to switch cash, buy goods and offerings, and send messages securely. It is correspondingly utilized to develop and install decentralized packages (dApps), tokenize property, and create smart contracts. Algorand crypto is a treasured asset for buyers due to its low transaction charges, scalability, and security. It additionally offers a tremendously liquid marketplace with few restrictions on transaction sizes.

Algorand founded Silvio Micali, a Turing Award-winning professor at MIT and a famend cryptography professional. He is also the founder of the Algorand Foundation, which is liable for the improvement, management, and ongoing renovation of the Algorand protocol.

Algorand Crypto: ALGO Price Overview 

The ALGO Crypto is currently trading at $0.237408 and its 24-hour trading volume is $92.04 million, according to Coingecco data. It means that the crypto has moved 0.20% over the last day and 25.30% over the last week. Algorand has a market cap of $1.90 billion, based on 8 billion existing ALGO coins. Algorand is #47 on CoinGecko today.

Algorand Crypto has a 24-hour trading volume of $92.04 million, a change of -22.40% from the previous day. That means the market activity is reduced now.

The highest Algorand crypto price was $3.56, which happened on Jun 20, 2019 (more than 4 years ago). The current price is -93.30% lower than its previous high.

The lowest Algorand crypto price ever was $0.087513, which happened on Sep 11, 2023 (3 months ago). The current price is 171.00% above its lowest price.Algo Crypto has a market capitalization of $1.90 billion, calculated by the value of Algo tokens in circulation (there are 8 billion tokens in circulation today).

Algorand Crypto has a fully diluted value (FDV) of $1.90 billion. Assuming all 10 billion Algo tokens are in circulation today, it is an estimate of record market capitalization. However, depending on how ALGO coins are distributed, it could take years to get FDV.

Algorand Crypto outperformed the global cryptocurrency market, up 5.10%, and outperformed similar Level 1 (L1) cryptocurrencies, up 7.20%, over the past 7 days. The Algorand crypto price is up 25.30% in the last 7 days.

Glimpse at Global Algorand Price 

Conclusion

Algorand is a decentralized, permissionless blockchain protocol and open-source cryptocurrency utilised to facilitate transactions and constant the network against malicious actors. Algorand crypto is originally operated as a  payment method and to store values. ALGO is used to transfer money, purchase goods and services, and send messages securely.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.