ALGO Price Analysis December 2021

ALGO/USDT is a token of platform Algorand. Its current price is around $1.74 by the time of writing, was at $0.3192 at the start of 2021, and has a market cap of 11 billion dollars.

Algo Price Analysis December 2021
ALGO Price Analysis December 2021

What is Algorand?

Algorand is a blockchain platform with a decentralized public ledger used in various business applications. Sean Lee founded it in 2019. Algorand aims to bring secure, reliable, low-cost financial transactions worldwide. Algorand’s native coin is ALGO.

AItgorand supports smart contracts, and its consensus algorithm is based on proof of stake and a Byzantine agreement protocol that promises to be more efficient and scalable than existing technologies. Algorand is a new distributed consensus protocol that can scale to millions of users without a centralized system. It was created to solve the issue of scalability in networks.

What is ALGO Crypto?

ALGO token is the platform’s coin that is trading around $1.74 by the time of writing which was at $0.3192 at the start of 2021. Its current ranking is #18 according to CoinMarketCap, with a market cap of 11 billion dollars. 

It reached a high of $2.83 in 2021 with a low of $0.3192. ALGO is the crypto of the platform Algorand. The token can purchase processing power to run neural networks or other machine learning algorithms. 

ALGO Coin Market Analysis 

It has a max supply of 10,000,000,000 coins worth around $1.74 with a market volume of 988 million dollars, whereas the market capitalization is 11 billion dollars at writing.

ALGO Price Prediction

On the 1D timeframe, the falling wedge was broken, and the price is now going back towards the resistance. The price will have to increase to identify more buying zones before deciding whether to buy.

For any time, on-demand analysis on $ALGO or any other coin can join our Telegram channel.

Algo Price Prediction
ALGO Price Prediction

Here are some of the best exchanges to buy ALGO.

Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.

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Pratyaksh