2021 has been big for Algorand: particularly, with how it introduced a new governance mechanism to become even more decentralized. Has it produced results so far? Let’s let the numbers talk and look at the Algorand price prediction 2021, 2022 and further!
Algorand Price Prediction 2021–2030
- Analysts are split on Algorand price prediction 2021, ranging from cautiously bearish $1 to extremely bullish $8 targets;
- In the Algorand price prediction 2022 the targets are a bit more conservative, up to $4.476;
- In the future, most targets given are moderate, but the possibility of a rally up to $22 by 2025 is not ruled out;
- In 2030 it may get close to $70, according to some forecasts.
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 can be randomly picked for verification, without the need to lock them, 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 in the Algorand tutorial from our blog.
Algo Price History
ALGO Price in 2019–2020
The first portion of Algos on the market was distributed in an auction held by the Algorand Foundation. The very first ALGO were selling at $3.28, the still unreclaimed ATH (June 21, 2019).
However, since the cryptocurrency market had a global consolidation, 2019 closed with 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, at which price it closed in 2020.
ALGO Price in 2021
In 2021 so far, Algorand has been showing positive 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.
The current (at the time of writing) price of ALGO is $1.76. It ranks 21st according to CoinMarketCap with a market capitalization of $11,073,244,987.63.
What Influences the Price of ALGO?
Algorand 2.0, which introduced layer-one smart contracts, tokens and atomic transfers, caused a short-term surge in 2020. What was achieved in 2021?
The Algorand team managed to partner with enterprises that are developing Skybridge, an Ethereum-Algorand bridge. While the Algorand implementation is still in the works, potentially it will make Ethereum DeFi more accessible thanks to the Algorand specifications.
Another large partner solution is Algomint, a digital asset minter. Algomint also works as a bridge and lets users utilize wrapped versions of BTC and ETH on Algorand.
In April 2021, the Algorand Foundation introduced a new governance model in which stakers can commit ALGO to a community pool to participate in voting. The first term is currently underway in Q4 2021, and the system is expected to be finalized by 2022.
Decentralized Finance and NFTs
DeFi in and of itself is already a use case for many blockchain platforms. The DeFi products bring a lot of applications with them to further increase the usability of each protocol.
In April, Balancer announced that their AMM will expand to non-Ethereum platforms, Algorand being one of them. For the Algorand ecosystem, they became the first decentralized exchange.
Smart contracts enabling tokenization naturally led to the NFT sector emerging on the Algorand platform. Some of the projects developed with it are ALGO Gators, Al Goanna and Space Monkeys.
Another use case enabled by smart contracts is stablecoins: Algorand is used by a dozen of stablecoin issuers to bring fiat-pegged tokens to more users. Among these issuers are Tether, Centre and Monerium.
Algorand is supported by the Algorand Foundation, and they do exceedingly well to strike new partnerships every month.
For example, VitalPass, the project of Auna Ideas, tracks vaccination efforts in South America, and uses the Algorand blockchain. ANote’s Music Marketplace uses it in music distribution to help artists utilize NFTs.
Recently, UNLOX onboarded to the Algorand blockchain to tokenize several real-world solutions: marketplace for tokenized IOUs, fractionalized assets and NFT collection with the Spin Magazine.
Latest Twitter posts
Fundamentally, there’s been a lot of hype around the $ALGO blockchain and after the wedge breakout pattern, $1.8 seems like a really good price point to
buy in or add more positions. #cryptocurrency #Crypto #NFT #Algorand #Algo pic.twitter.com/tAv2QlQBJr
— Bunny.io (@ThatCryptoBunny) November 23, 2021
Trader Bunny.io points at the convergence of sentiment and technicals around Algorand. They think that the current price is a good point of entry.
— Hangman Trades (@HangmanTrades) November 25, 2021
User Hangman Trades shared some data about NFTs on Algorand. The monthly volumes are growing explosively across the ecosystem.
Enjoy this sneak peek prototype of what’s coming next to the official Algorand Wallet 👀
— Algorand (@Algorand) November 26, 2021
The official Algorand account teased a new feature in the Algorand wallet: NFT gallery. It seems to be a very requested feature, all things considered!
Algorand Price Prediction 2021
Bitcoin Bros Algorand Price Prediction 2021: $2–8
The channel Bitcoin Bros covered the latest Algorand news such as the conference in Miami and the World Chess Championship sponsorship. These could present an opportunity to rally but by how much ALGO can feasibly move?
In the technical analysis, they point at the Fibonacci extensions at $2 and $5.27. These areas can serve as resistances for the next couple of months.
If Algorand repeats the September move after consolidating in November and early December, the price can soar as high as to $8, they speculate.
WalletInvestor Algorand Price Prediction 2021: $2.1
Even though the service gives a moderately bearish signal to ALGO, WalletInvestor still considers it a worthy investment. The chances to fix above $1 are pretty high, and the 2021 closing price can be anywhere between $1.512 to $2.1.
Coinquora Algorand Price Prediction 2021: $1–3.5
Technical analysis from Coinquora team points at the chart consolidating and exiting oversold area. At this rate, the first $2.48 resistance will be broken and the rally has the potential to stretch to $3.5.
Support levels to watch out for are at $1.54 and $1.089.
Algorand Price Prediction 2022–2024
WalletInvestor Algorand Price Prediction 2022: $1.530–3.481
What do WalletInvestor have to say about Algorand price prediction 2022? Their results show confidence in an ongoing uptrend. 2022 can open at $1.818 on average but closing price might land anywhere between $2.588 and $3.481.
CryptoNewsZ ALGO Price Prediction 2022: $4
CryptoNewsZ analyst David Cox is sure of the bright future of ALGO but sceptical about short-term price surges. He is betting on slow organic growth of the price in the next several months and expects ALGO to land close to $4 in 2022.
Previsioni Bitcoin Algorand Forecast 2022: $2.76–4.18
Algorithmic prediction service Previsioni Bitcoin projects a decline after the rally in late 2021. In 2022, the price of ALGO will lower from $4.18 in January to $2.76 in December.
DigitalCoinPrice ALGO Price Prediction 2023: $4.18
DigitalCoinPrice are similarly bullish but their estimates are more moderate. In 2023, there won’t be much volatility, and average monthly prices will be around $3.17 to $4.18.
LongForecast ALGO Price Prediction 2024: $3.70–6
According to LongForecast, 2024 will be the year of ALGO.
At that point in the future, it most likely will escape consolidation from a slow downtrend. The $3.70-4.60 price range in January 2024 will move upward in December to $5.23-6.01.
Algorand Price Prediction 2025
RippleCoinNews ALGO Price Prediction: $22
What do RippleCoinNews think about the future so far? While their reasoning is more or less the same as with the rest of expert opinions, the long-term target is much higher: $22.
Among the factors that can affect the price they mention accessibility of markets and trading pairs.
DigitalCoinPrice ALGO Price Prediction: $6.27
As for 2025, in the DigitalCoinPrice projections, ALGO will continue to move upwards slowly. The average of monthly averages they give is $5.43, and the volatility can make it descend to $4.70 or rise to $6.27.
Coinpedia Algorand Price Forecast: $3.8521–10.874
For the forecast for five years in advance, Coinpedia analysts assume that the development of the Algorand ecosystem will proceed as it has been going. In that case, the user base will grow enough to warrant ALGO per $10 a piece but bears can hold it down to $3.85 as well.
Algorand Price prediction 2030
Price predictions for ten years in advance can’t be very accurate but some analysts still try.
CoinPriceForecast thinks that it will take until 2030 for ALGO to gain +324% and be traded for $7.64. CryptocurrencyPricePrediction is way more positive about ALGO’s future and projects growth from $54.90 up to $72 in 2030.
ChangeHero’s Algorand price prediction
Summing all the opinions up, we can see that most of those bet on Algorand finding adoption with more users and products.
The team plans to release all their holdings in auctions or through grants by 2030, becoming more decentralized with each year. By that time, it gets more probable that the market will stabilize and price will be determined via trading.
How to Buy Algorand?
You can do it on the ChangeHero website in a few steps:
- Go to the purchase page or click “Buy or sell crypto from 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 of 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?
- Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives.
- The Best Rate transactions will use the rate current to the time when your funds arrive.
The Fixed Rate will use the rate at the time of step 1;
- The Best Rate transactions will use the rate current to the time when your funds arrive.
- As soon as the exchange has been processed, your ALGO is on the way to your wallet.
The customer support is here for you 24/7 in the chat on the website or through the email: [email protected].
Algorand contributes real value to the cryptocurrency market. The Foundation makes strides to decentralize the project and will transfer to the new governance model by 2022.
Frequently Asked Questions
Is Algorand a good crypto?
Algorand is a crypto project with real-world applications. At the rate the ecosystem and community grow, the future of Algorand is indeed bright, as most analysts conclude.
Is Algorand a good investment in 2021?
Most analysts agree that Algorand is a worthwhile investment in 2021, but especially in the long-term.
How much will Algorand be worth in 2022?
Depending on the source, ALGO can be worth between $1.530–4.476 in 2022.
How much will Algorand be worth in 2025?
According to some forecasts, ALGO can be worth anywhere between $3.8521 to $22.
How much will Algorand be worth in 2030?
According to some forecasts, ALGO can be worth anywhere between $7.64 to $72.
Can you stake Algorand?
As a Proof-of-Stake cryptocurrency, ALGO can be staked for rewards.
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 investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.