ALGO is a token of platform Algorand. Its current price is around $0.7048 by the time of writing, with a low of $0.6744 in 2021, and has a market cap of 4.6 billion dollars.
What is Algorand?
Algorand is a blockchain platform and cryptocurrency that works like a significant payments processor. The native coin of the Algorand platform, ALGO, is used to secure the network and as a reward for operators. Staci Warden founded it in 2017, intending to remove three barriers that hinder mainstream adoption of the blockchain. These are scaling, security, and decentralization.
Algorand stands out from other blockchains because it uses an environmentally friendly consensus mechanism, and because the blockchain is fully decentralized, there’s no central point of control. As a result, hundreds of organizations are currently running Algorand at scale for use in their applications and systems.
What is ALGO?
ALGO is the coin of the Algorand platform, which is around $0.7048 by the time of writing, with a low of $0.6744 in 2021. Its current ranking is #29 according to CoinMarketCap, with a market cap of 4.6 billion dollars.
ALGO reached a high of $2.83, with a low of $0.6744. investing in Algorand could be a good idea for 2022. It’s one of the most promising blockchain projects regarding technology and use cases. In addition, many real-world projects are using the Algorand blockchain, which will only increase its value.
ALGO Coin Market Analysis
ALGO has a max supply of 10,000,000,000 coins worth around $0.7048 with a market volume of 224 million dollars, whereas the market capitalization is 4.6 billion dollars at writing.
ALGO Price Prediction
$ALGO/USDT is currently trading downwards on the 4H timeframe. It has shown that it has been experiencing a downtrend for a couple of weeks. Forming out the Bullish Shark Harmonic Pattern, where the price action retraced down the 0.886 level, the potential reversal zone level is between 0.886 to 1.13.
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