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Algorand is a unique cryptocurrency that uses a pure proof of stake system to generate new coins. As such, the currency does not use up a lot of energy.

It is worth noting that energy inefficiency is currently one of the biggest challenges in the cryptocurrency world. ALGO is also fully decentralized, meaning it eliminates the need for intermediaries.

Algorand was developed by Silvio Micali, and its main purpose was to increase the scalability of altcoins. It rivals currencies like Etherium in the fact that it is a lot more scalable.

Another benefit of the Algorand is that it processed transactions in a fraction of a second, and this is notable since lately, Bitcoin has been taking too long to verify transactions.

Algorand and the gaming industry

ALGO has also been able to generate value because of its links to the gaming industry. It reinforces gaming networks and is able to speed up transactions on these networks.

Users of ALGO can send and receive money in any currency as the platform can be used for smart contracts. Such applications are important to consider when coming up with Algorand ALGO price predictions.

Algorand price action to consider

Algorand was developed in 2019 and entered the market with a price of about $1.44. The price quickly dropped and reached $0.22 by the end of September the same year. Until January 2021, the coin maintained a value of between $0.2 and $.0.5.

Like several other cryptocurrencies, this one would rise in value in February 2021 and reached a maximum price of $.1.67. By the start of September, the price of the altcoin had risen to about $1.4. The price seems to be rising steadily, although this doesn’t necessarily indicate that the trend will continue.

Algorand Price Predictions (ALGO) According to Longforecast.com

Top 5 Algorand predictions coming from Longforecast.com:

1. Crypto ALGO price will rise to about $2.5 by December of 2021.
2. At the start of 2022, the price will range between $2.10 and $2.40.
3. Longforecast predicts that the price will drop slightly in March to around $1.90, and it will go back up to about $2.60 by June of 2022.
4. Algorand will keep increasing in value until September when it will achieve a new top price of about $4.09.
5. By the end of the year, this altcoin should have attained a price of $4.51.

Longforecast.com suggests that the maximum possible price the cryptocurrency can attain in 2022 is $4.83.

Algorand Rate Predictions According to Wallet Investor

Wallet Investor has noted that ALGO is an excellent long-term investment. This website updates its price predictions every 3 minutes, and it takes many things into account when making the predictions.

Top 4 Algorand predictions according to Wallet Investor,

1. The altcoin will have a value of about $1.50 by the end of 2021.
2. Wallet Investor predicts that the price of Algorand will rise steadily and attain a price of about $2.00 by the middle of February.
3. In March, the price will drop slightly to about $1.95.
4. For the rest of the year, the price will fluctuate between $1.98 and $2.50.

Algorand Prices and Predictions According to Trading Beasts

This website uses linear and polynomial regressions to come up with predictions on the prices of cryptocurrencies.

Top 5 Algorand predictions based on Trading Beast analysis,

1. The price of ALGO will reach $1.68 by the end of 2021.
2. The expected maximum price in December 2021 is $2.10.
3. In 2022, the currency will maintain an average price of between $1.68 and $1.70.
4. As noted by Trading Beasts, the price of Algorand may rise to a maximum of $2.12 in 2022, and the lowest possible price is $1.43.
5. Since the price is set to rise gradually through the year, you can expect to get good returns from your investment.

Algorand Price (ALGO) Predictions According to GOV Capital

Gov Capital uses a custom algorithm that is based on Deep Learning, and it takes into account variables such as price changes, volume changes, and market cycles.

Top 6 Algorand predictions according to Gov.Capital

1. The price of ALGO will go up from September 2021 to December 2021.
2. By the end of the year, the currency will have attained a maximum value of $1.36.
3. At the start of 2022, the price will fall sharply to about $0.414.
4. Algorand will then rise quickly, and by the end of February 2022, it will have attained a value of $2.15.
5. From February to November, Algorand price will fluctuate between $1.80 and $2.20.
6. By the end of 2022, the price of ALGO will have gone up to a maximum of $2.30.

Algorand Price Predictions According to Digital Coin Price

The Top 6 protections about Algorand from Digital Coin Price predicts as follow:

1. The price of ALGO will hit a maximum of $2.4 by the end of 2021.
2. In January of 2022, the price will rise even higher to $2.57.
3. By June of 2022, the altcoin will move to a new high price of $2.90, and from here, it will start going down slowly.
4. 2022 will close at a price of $2.60 for the crypto Algorand.
5. According to Digital Coin Price, investors should purchase the altcoin now as it has excellent prospects.

Over the next few years, the price is set to go beyond the $6.4 mark. Based on Digital Coin Price Algorand price projections, any downward trends in the cryptocurrency will only be temporary.

Algorand Market Analysis and Opinions

The genesis block of ALGO indicates that 10 billion coins were minted, and the distribution of the fixed coins will be concluded by 2030.

The Algorand all-time low price of the coin is $0.1024, and this was recorded in March 2020.

On the other hand, the Algorand all-time high price of this altcoin is $3.28, and this was recorded in June 2019.

The market cap of ALGO is slightly over $5 billion, but the fully diluted market cap is $14.2 billion. This coin is currently ranked at number 36 in the list of most valuable cryptocurrencies. Given that it solves some important issues in the crypto world, its rank is likely to rise over the next few years.

What Makes Algorand Unique?

Algorand was developed to speed up transactions and make processes more efficient, and this is important, given that Bitcoin and other cryptocurrencies offer very low processing speeds. Another factor that makes the currency unique is that the transaction fees are very low.

Again, the transaction costs of Bitcoin have gone up significantly, and this issue can be solved with ALGO.

While Ethereum is planning to start using the proof-of-stake method in 2022, ALGO has already implemented the system. This means users of the currency don’t have to worry about damaging the environment as the process of generating new currencies is extremely energy efficient.

Algorand Price Conclusion

ALGO is an important altcoin that tries to offer the benefits of cryptocurrencies while eliminating the key disadvantages. It uses the proof-of-stake method of generating new coins, and this uses a lot less electricity.

All reputable Algorand forecast platforms predict that the coin will rise in price over the next year, although some don’t believe the price will rise significantly. Over the next few years, the price of ALGO is likely to go over $6.4.

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