Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
Algorand has been showing impressive results since it began surging at the beginning of the year. ALGO has risen steadily, attracting the attention of many [...]
Algorand price was on an upward trajectory at the beginning of November before reports of the FTT token difficulties came in and culminated in the [...]
This week has been eventful in the crypto market. Many cryptocurrencies have recorded massive losses since Monday, September 19. The Merge on September 15 kickstarted another downtrend for crypto prices. Afterward, CPI data made the feds hike the interest rate by 75 basis points, sending assets price downwards. Related Reading: Bitcoin aSOPR Profit-Loss Junction Continues To Act As Resistance But as these macroeconomic factors push many digital assets down, others resist the pressure and move forward instead. Algorand ALGO is one of these assets, recording price gains in its 24 hours movements. But BTC and ETH haven’t fared well. For instance, on September 20 and 21, Bitcoin lost its grip on $19K, falling to $18K. On September 22, BTC climbed again to $19K, an intraday high, and did not hold on to that level till press time. Currently, the BTC price is again bounced to $18,914, representing a 1.91% loss in 24 hours. Algorand’s ALGO Not Affected By Macros While many cryptocurrencies bleed, ALGO is recording positive price movements. Currently, the ALGO price is $0.3761 on TradingView, and CoinMarketCap shows a 2.48% growth in 24 hours while 27.98% in the last week. So far, ALGO price movements are all green, as seen in the chart above. The coin started an upward climb since the close of the market on September 17. It jumped from $0.2973 to $0.3109 the same day. On September 18, ALGO lost some of its gains to close the market at $0.2925. But a few hours later, the coin jumped again and closed the market at $0.3172 on September 19. Since then, to press time, ALGO has continued its upward movement. It climbed to $0.698 on September 22 and is today trading at $0.3767. So far, the ALGO price movement shows a continuous price gain for three consecutive days. Analysts have also pointed out that ALGO’s moving average convergence divergence is positive. Also, the coin’s RSI (Relative Strength Index) is at 58.18, showing that ALGO is closing to the overbought region. Why Is ALGO Surging Even though the crypto market is negative, a lot is happening in the ALGO ecosystem. Currently, the total volume locked on the ecosystem has grown considerably. The DeFi blockchain is recording massive interest, evidenced by the $244 million worth of TVL. This figure was its data as of September 22 after adding 4.09% growth in its TVL. Data also reveals that $100 million out of this liquidity came from AlgoFi. Apart from growing TVL, Algorand has made partnerships. The prominent one recently is the FIFA& Algorand partnership enabling the crypto network to FIFA+ Collect. This platform is where users will buy NFT items of many types. Related Reading: Compound Prepares For A Major Rally To $80, Here Is Why According to the details of FIFA+ Connect, the platform will operate like NBA Top Shot. Its users can purchase artwork, highlights, images, etc., from prestigious soccer competitions. The platform will launch before the World Cup, slated for November. Featured image from Pixabay and chart from TradingView.com
Algorand (ALGO) has always been lauded for its imagination and innovation. Algorand’s mainnet update can process as much as 6,000 TPS ALGO beats BTC and ETH when it comes to speedy transactions ALGO price is now up by 6.88% following the announcement of mainnet update And it’s now stepping up the game. Recently, Algorand has wowed the community once again with a major upgrade done to its system. With this new update, Algorand is described to be quantum-secure and can now process as many as 6,000 transactions per second. This is nothing new though for ALGO as it has always been considered one of the crypto networks with the fastest processing of transactions. In fact, Algorand’s mainnet can process a maximum of 1,000 transactions per second prior to this upgrade. Related Reading: Algorand (ALGO) Posts Double-Digit Price Drops In Last 30 Days ALGO Beats BTC, ETH In Transaction Speed Nothing else comes close but CELO, XRP, and SOL that can somehow catch up to the speed of ALGO. It’s in fact one blockchain network that can beat both Bitcoin and Ethereum when it comes to transaction speeds. Albeit, this recent upgrade on ALGO’s mainnet could mean that other crypto networks may literally eat dust. Besides having that fast and furious vibe, ALGO encompasses to have also filled the gaps when it comes to issues surrounding third-party interference. The upgrade on the mainnet comprises of a state-of-proof integration as well wherein users can seamlessly create cross-chain communications without involving any middleman which also helps prevent cyberattacks. Rotem Hemo, one of the founders of ALGO, mentioned in his post on Medium that mainnet upgrade also includes a DApp update plus an extra layer of AM7 for seamless developer access. According to Hemo, “AVM 7 provides the ability to create randomness oracles that will enable every smart contract to get fresh randomness from a secure source when needed.” Algorand Price Up 6.8% Following Mainnet Update With the mainnet update announcement, ALGO price seems to have also spiked favorably. According to CoinMarketCap, Algorand price is up by 6.88% or trading at $0.3194 as of press time. But, despite the price increase, ALGO has still dropped by 91.63% from its ATH. Chart: Santiment On the other hand, ALGO’s trading volume has slipped by 9.06% but its market cap has soared and climbed to a whopping $2.08 billion. Despite the rally, Algorand seems to be showing a bearish correction happening in the next couple of days. In fact, today’s trading session shows that the ALGO price has been slipping by a few percent. However, with the mainnet upgrade, most investors are optimistic that ALGO may hit the $3.56 zone again. ALGO’s price has spiked by 4.8% following the latest news of its upgrade making Algorand five times faster and more efficient. Related Reading: Bitcoin Bulls Aim Past $20,000 Level – How Hard Can They Charge Forward? ALGO total market cap at $2.2 billion on the daily chart | Source: TradingView.com Featured image from CoinCentral, chart from TradingView.com
The crypto market reached a state where the next evolution would be enhancing speed and scalability. After Bitcoin's eco-friendliness problems and Ethereum's expensive gas fees, many other alternatives started to pop. Those alternatives managed to gain massive popularity back in 2021 and soared in valuation. One of those projects is Algorand crypto project. Not only is it an interesting crypto project, but Algorand price is sitting currently at a strong support level. Should you buy ALGO today?
In this article, we're going to talk about what Algorand crypto is, and technically analyze ALGO token price.
What is Algorand Crypto Project?Algorand is a blockchain platform that shows close proximity to blockchains like Ethereum, Cardano, and Solana. Algorand's blockchain can now process thousands of transactions per hour. This makes Algorand one of the fastest platforms on the market.
The blockchain uses the modern consensus mechanism Pure Proof of Stake, which ensures high transaction speeds. The blockchain thus developed into one of the fastest on the market. Algorand's native token is the ALGO token.
What problems does Algorand want to solve?Algorand wants to solve the problems that certain cryptocurrencies bring with them in the long term. A prime example is Ethereum. The Ethereum network is most successful in decentralized applications. However, Ethereum also has its own problems.
Ethereum is characterized by high gas fees and lower transaction speeds. Algorand would like to improve and optimize these restrictions, among other things. Algorand wants to solve the so-called blockchain trilemma. This states that there must always be a compromise on 3 major issues, scalability, security, and decentralization. The network wants to combine all of these 3 properties in its blockchain and is thus in the tradition of Cardano and Solana.
Who is behind Algorand crypto?As with many modern cryptocurrencies, the blockchain is backed by a non-profit organization. The Algorand Foundation is behind the project and is based in Singapore. Together with Algorand Incorporated, which is responsible for the technical implementation. Both form a management duo in the project.
How does Algorand work?As a modern smart contract platform, Algorand is very similar to the leading platforms Cardano and Solana . But the blockchain also has functions that the networks mentioned are still waiting for. An important element are the sidechains. With these, developers can operate their own private blockchains.
However, the big difference from other platforms is the modern Pure Proof of Stake (PPOS) consensus mechanism.
What is Pure Proof of Stake consensus mechanism?The Pure Proof of Stake consensus mechanism goes through two phases in total. In the first phase, the algorithm selects a secret random number. This number represents an ALGO token. The owner of the wallet in which this ALGO token is located is the staker for the next block and can propose it himself (block proposal).
In the second phase, a separate committee (Approval Committee) is formed, which validates the block that was previously selected as valid. Here, too, a random number is used to select who is a participant in the committee. 1,000 random tokens and thus 1,000 random validators belong to the committee. The probability of selection increases with the size of the ALGO fortune.
Algorand Price Prediction - Should you BUY ALGO?Other than being a promising crypto project, ALGO price is currently at a strong support level. Looking at figure 1, we can clearly see the support of $0.70. The current price is around $0.77, and with the current crypto market adjustment, prices are expected to reach that support price.
Fig.1 ALGO/USD 1-week chart showing the support area of ALGO - TradingViewOnce prices reach that support line, ALGO should retrace back upwards, at least towards a price of $1. This would yield a hefty 42% return. However, it's always a good idea to set an adequate stop-loss area in case things turn south. A sensible stop-loss would be right below the $0.70 price. Keep in mind that if the market is volatile, you might get stopped out before prices continue higher.
Algorand© CryptotickerThe Algorand (ALGO) blockchain has added over 6 million new accounts to its network since the beginning of 2022. According to AlgoExplorer data, the total number of accounts on Algorand at the turn of the year was 17,373,299, while at press time (by March 10, 2022), this number was 23,548,065. This represents a 35% gain from the start of the year. Algorand Gains 6 Million Users One reason for the enormous increase in interest in ALGO could be the network’s major technical improvement, which would allow Algorand-based products to run on other blockchains and in low-power contexts like mobile phones and smartwatches. Algorand total accounts. Source: AlgoExplorer Algorand also anticipates the development of London Bridge, a trustless bridge that will connect the platform to Ethereum (ETH). Commenting on the upgrade, Paul Riegle, the Chief Product Officer at Algorand stated: The power and composability of Algorand’s smart contract platform has transformed in recent months. Developers are building versatile decentralized applications that have and will continue to disrupt a wide variety of industries. With this latest upgrade, Algorand continues its leadership position when it comes to ongoing delivery of highly sophisticated blockchain technology. It’s also worth noting that the Algorand Foundation hired a new CEO, none other than former JPMorgan executive Staci Warden, only a few days before the award announcement. She brings a wealth of experience from her previous positions at Nasdaq, the US Treasury Department, and the Milken Institute. Grayscale Investments added Algorand to its list of assets under consideration as one of the 25 new token entries in January 2022. ALGO was one of numerous Layer 1 blockchain coins that were added to the list. Notably, Algorand had already begun the year on a high note, even before the Grayscale announcement. Anthony Scaramucci, the founder of alternative investment firm SkyBridge Capital, lauded Algorand, projecting its future as “the Google” of blockchain technology. Related Reading | Bitcoin Steadies Above $45k, US Inflation Comes In At 7.5% Year Over Year ALGO Price The Algorand price analysis is negative for the day, as the bears have created a means to retaliate after a brief bullish price action. The bearish momentum has been strong enough to reduce the price levels to $0.730. The bears have been quite successful in the last several hours, since the decline is massive and has had a negative impact on the entire value of cryptocurrencies. However, as seen in the price charts, the most recent advance is in favor of the bears. The next support for the ALGO/USD price function is at $0.703, where traders can expect the price to rise if the support holds. ALGO/USD trades at $0.7. Source: TradingView The 1-day and 4-hours Algorand price analysis reveal that the current trend has been bearish, resulting in a price reduction. The price has dropped to $0.730, which is a very low value when compared to the previous trading session. However, the support level around $0.703 appears to be firm, and there is little chance that the price will fall below it. Related Reading | Algorand, Solana, And More Lead List Of Biggest Losing Altcoins Featured image from iStockPhoto, Charts from TradingView.com
Analysts eyes Algorand (ALGO). ALGO maintains the market top 30 position. Algorand aims to expand its reach in the DeFi ...
Look at the Algorand Price Prediction 2030. What is the Algorand project? Will ALGO crypto price rise? Read all this and much more in our fresh article.
The post Algorand Price Prediction 2030: Will ALGO Crypto Price Go Up? first appeared on StealthEX.Here is the latest daily price chart of Algorand token (ALGO/USDT), which is currently at $0.26, and trying to stay above support levels. There is a strong support at $0.20 and upside targets of $0.45 to $0.50 are visible, and they may come in March-April 2025.
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
