Recently, in the news and price action alike, Algorand (ALGO) has been sending mixed signals. At the moment, it looks more bullish in the short term the more you zoom in but the long-term signals do not catch up just yet. We revisit our Algorand price prediction to refresh the forecasts and give new targets for 2024 and further into the future.
Algorand Price Prediction 2024–2034
- To sum up the Algorand (ALGO) price prediction 2024, experts do not seem to have a consensus. Some think it will not be able to recover noticeably, while others expect it to bounce to new heights;
- The most bullish period for Algorand price predictions is around 2029, in two market cycles. In five years, it is expected to grow to its highest historical levels;
- On the contrary, moderate and bearish ALGO price forecasts barely see it rise above 50 cents.
What is Algorand and ALGO?
Algorand is a blockchain with the mission to end the need to compromise between scalability, security, and decentralization. The developers claim it’s secure, since it uses the latest cryptography, scalable, since it’s memory-efficient, and decentralized, since all network participants propagate it.
The Algo (ALGO) is the native currency of this blockchain which is necessary to secure the network. Any coin-holding account can be randomly picked for verification, without the need to stake ALGO, and its holder will receive rewards for validating transactions.
Since validators are chosen from coin holders and the balance defines the chances of receiving rewards, ALGO is considered a Proof-of-Stake currency.
In addition to that, ALGO has a part in governance and transacting, as well. You can read a deeper dive into Algorand in a tutorial from our blog.
History of Price of Algorand
ALGO Price in 2019–2021
The first portion of Algos on the market was distributed in an auction held by the Algorand Foundation. The very first ALGO was selling at $3.28, the still unreclaimed ATH (June 21, 2019).
However, since the cryptocurrency market had a global consolidation, 2019 closed with an average trading value of ALGO at $0.22. In 2020, it rose to $0.49 but then crashed to $0.14 at the onset of the COVID-19 pandemic. In July 2020, it managed to rise to $0.64 when Algorand 2.0 arrived. It pumped only to drop back to $0.4, the closing average price of 2020.
In 2021, Algorand was showing more promising results. Having started the year at $0.35 a piece, it rose to $1.75 on April 18 and then rallied to the yearly high of $2.83 on September 12. Both movements coincided with two legs of the Bitcoin bull run, but since it ended around the same time, the bullish action in the ALGO price ended as well.
ALGO Price in 2022–2024
2022 was the end of the market cycle that ended the bull run and saw most assets take a nose dive. Algorand was no exception, even despite the efforts of the Algorand Foundation. With the transition to a new, less centralized governance model, the Foundation’s influence on the ALGO price movements became weaker. Having opened 2022 at around $1.65, by its end ALGO was traded for only $0.17.
2023 did not turn out to be a more bullish year for Algorand than the one before it. From the bottom price, Algorand managed to grow to $0.278 but soon slipped back below $0.1. Late 2023 and early 2024 once again seemed to be promising when the ALGO price jumped to 24 cents in January and 32 in March.
Since then, though, the price of Algorand has winded down to previous levels. The current price of ALGO at the time of writing is $0.1397. It ranks 64th according to CoinMarketCap with a market capitalization of $1,148,508,157.
What Influences the Algorand Price?
Like many other cryptocurrencies, Algorand (ALGO) is influenced by the market sentiment. Moreover, on top of it, some extra factors work for or against the price of Algorand and can even cause it to move in the direction opposite to the market trends.
Protocol Development
To make the vision of an effective blockchain network a reality and solve the blockchain trilemma, Algorand puts some major work into protocol development. Some previous milestones that moved the price of ALGO are the 2.0 update, the Skybridge and Algomint bridges, and the transition to a decentralized governance model.
Earlier this year, the Algorand Foundation undertook a bold move to incorporate Python as its smart contract language. It is very uncommon for this programming language to be used like that but Algorand Foundation hopes to facilitate smart contract development for millions of developers worldwide with this decision.
Challenges
The legal status of Algorand regarding whether or not it is a security is up in the air, but not according to the Securities and Exchange Commission. Coinbase got into hot water for supporting ALGO trading on the allegations of offering unregistered securities.
A use case enabled by Algorand’s smart contracts that is most in use is stablecoins. Algorand is supported by a few stablecoin issuers to bring fiat-pegged tokens to more users. Among these issuers are Centre, Monerium, and the National Australia Bank. Not all stablecoins stick around though: in June, Tether, the issuer of the largest stablecoin USDT, announced they would stop supporting USDT on Algorand.
Controversies
Unfortunately, Algorand is no stranger to controversial news. In 2023, the news that MyAlgo wallet was allegedly exploited or hacked came to light. The potential damage was estimated to be $9.2 million. Algorand’s CTO took to Twitter to explain that the nature of the incident was not caused by a vulnerability with the blockchain or the SDK. The fallout of the hack was mitigated by one of the key features of Algorand: rekeying, or private key change.
More recently, Algorand caught the X users’ attention with an ad that boldly claimed it is the only daily-use-ready blockchain. In response, the crypto community raised eyebrows because a few months ago the official block explorer AlgoExplorer was shut down citing a lack of funding.
Short-Term Algorand Price Analysis and Prediction
TradingView user MetaShackle is bullish on the current state of Algorand’s price. According to their comment,
The chart is indicating that ALGO is getting ready to make a very bid move in the coming months, and imo,
is currently on sale at the current price.
2024 Algorand Price Forecast
Even though the service gives a bearish signal for ALGO, WalletInvestor still considers it a worthy investment. The highest forecast ALGO price is $0.542, and the 2024 closing price can be anywhere between $0.127 and $0.488.
TheNewsCrypto gives both a bullish and bearish Algorand price prediction grounded in technical analysis. They come to the conclusion that currently Algorand’s price is pushing against a downward trend line. With that in mind, they suggest keeping an eye on the resistance levels near $0.212 and 0.2935 and the support level at $0.1035.
YouTuber Steph Is Crypto zooms out to a slightly larger time frame and gives a more long-term Algorand price prediction a few months in advance. By using Fibonacci extensions, he concludes that the bull run which will start this year, can take ALGO’s price to $1.04 in 2024.
Algorand Price Prediction 2025
Algorithmic crypto prediction service Previsioni Bitcoin projects modest growth of Algorand with several pullbacks during 2025. The next year, Algorand’s growth will accelerate, and so will there be more volatility. They forecast ALGO will rally to $0.8428 and show a buying opportunity at $0.45 in July.
CryptoNewsZ analyst David Cox is sure of the bright future of ALGO in both the short and long term. He is betting on slow organic growth of the price in the next several years and expects ALGO to land close to $0.57 by the end of 2025.
DigitalCoinPrice is moderately bearish as well but their estimates are more moderate. By 2025, the outlook on the expected average trading price of Algorand will not change significantly, albeit the volatility is expected to be more noticeable. The ALGO average trading price will stay in the range between $0.3 and the maximum trading value of $0.35.
Algorand Price Prediction 2026–2029
Expert opinions and estimates are more likely to turn out true in the near term. The further we try to glimpse the future, the more reliable price targets by algorithms that use historical analysis get.
In the case of Algorand (ALGO), the resulting targets vary significantly. While bears predict the ALGO price will decline even further, bears expect ALGO to hit double-digit prices in a few years.
| Year | Coinpedia | AMB Crypto | CoinDataFlow |
| 2026 | $0.268–0.9498 | $0.94–1.42 | $0.108733–0.481155 |
| 2027 | $0.774–1.527 | $1.93–2.90 | $0.127265–0.284111 |
| 2028 | $1.015–1.98 | $3.95–5.92 | $0.194261–0.592266 |
| 2029 | $1.6742–2.5988 | $8.07–12.10 | $0.512334–1.38 |
Algorand Price Prediction 2030+
At the end of the decade, Traders Union cryptocurrency analysts are ready to assume that Algorand would have not made any major progress. In that case, the maximum expected price ALGO can warrant is $0.2984. A little further into the future, in 2034, ALGO will potentially reach only as far as $0.4811.
On the other hand, analysts of Coincu expect the relevance and value of Algorand to grow together with the blockchain sector. As a result, by 2030 the maximum ALGO price will have reached $4 and in ten years, the price of ALGO will be anywhere between $2.1 and 5.05.
CoinPriceForecast’s Algorand price prediction breaks the tie. According to it, it will take until 2030 for the ALGO coin to gain +165% and be traded for $0.37. Even if this prediction promises growth, the pace is more on the bearish side. As for the ALGO coin price prediction for 2034, ten years from now, they claim Algorand’s price will fluctuate between $0.44–0.46.
How to Buy Algorand?
Do you want to purchase Algorand (ALGO) with a bank card? You can do it on the ChangeHero website in a few steps:
- Go to the purchase page or click “Buy or sell crypto with Visa” in the widget on the home page. Choose your country, check the currency of purchase/selling and rate;
- Proceed and provide the blockchain address for purchase or selling. Check the Terms of service before finalizing the transaction;
- Verify your phone number, email address, and ID details. Next, provide the information on the bank card. If you are selling, you would also need to choose refund options and transfer crypto to the generated address;
- Go through the KYC procedure with your state-issued ID and a selfie to finalize verification;
- And from here on, our partner processes the purchase.
How to Exchange Algorand Instantly on ChangeHero?
If you already have crypto, swap it for Algorand (ALGO) on ChangeHero! Get ALGO at the best rates, in a few steps without obligatory KYC or registration.
- Choose the currencies on the home page, amounts, and the type of exchange. Provide your ALGO wallet address in the next step and check the details;
- Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
- Send the cryptocurrency for the swap in a single transaction. In a Fixed Rate transaction, you have 15 minutes before it expires;
- Sit back and relax. Now we are doing all the work: checking the incoming transaction and making the exchange as soon as it arrives;
- As soon as the exchange has been processed, your ALGO is on its way to your wallet. And so, the transaction is finished!
The support team is here to help you 24/7, and in any case, reach them in the chat on the website or through the email: [email protected].
Conclusion
Algorand (ALGO) is rarely in the crypto news these days, and when it is, it is far from always optimistic. Nevertheless, occasionally, it manages to break out of its slump and remind the crypto community of the project.
Do you agree with the cited predictions? Join the discussion and subscribe to us on X, Reddit, Facebook, and Telegram. Explore our blog for more content to help you navigate the crypto world.
Frequently Asked Questions
How much will Algorand be worth in 2025?
Depending on the source, experts name targets in the range between $0.30 and $0.84 for Algorand in 2025.
What is the price of Algorand in 2030?
Experts name different targets for Algrand to reach in 2030: from a minimum of $0.30 to a maximum value of $4.
Can Algorand reach $100?
Not a single cited source is confident in this scenario even in 10 years. Because its circulating supply is over 8 billion ALGO, a $100 price tag per ALGO would make its market capitalization $800B. It is not entirely unfeasible because Bitcoin accounts for over $1 trillion but ALGO would have to become close to BTC in terms of value.
Is Algo a good coin to buy?
Algorand (ALGO) is a coin with strong fundamentals and talent behind it. At the same time, it leaves some holders underwhelmed with its performance. When considering investment in ALGO, seek professional advice and account for your own preferences and intentions.
Disclaimer
This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis and at your own risk.
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