Algorand price prediction : Is Algorand a good buy?
We often talk about not only popular and interesting, but also significant blockchain projects. Algorand is among them, allowing you to expand the scope of cryptocurrency and create new promising projects on its basis. In a new article, we prepared a forecast for the Algorand rate from various experts.
Algorand is a decentralized and open blockchain system having its main goal to create an accessible blockchain platform that empowers users. The main features of the ALGO platform are high throughput and instant verifiability, which provides excellent transparency. Thanks to this, users can transfer ALGO cryptocurrency quickly and cheaply. Algorand works on the principle of Proof-of-Stake (PoS), i.e. a consensus algorithm through which holders are rewarded simply by holding cryptocurrency in their wallets or exchange balances (many crypto exchanges support this function).
ALGO is developed by an experienced team of world-class experts in cryptography, management and marketing from the USA Silvio Micali, Steve Kokinos and Sean Ford. However, his blockchain brings almost nothing new to the crypto industry. Algorand has stronger competitors like Cardano or Zilliqa that have developed their own decentralized protocols. But this does not mean that the prospects for ALGO-cryptocurrency are bad.
Recently, a natural steady growth of altcoin can be observed on the crypto market. At the time of writing this article, August 18, 2021, ALGO cryptocurrency costs $ 0.9347. Algorand is ranked 42nd on CoinMarketCap with a market cap of $ 3,044,042,521.
Nowadays the project looks confident enough for even the leaders of other countries to be interested in it. Thus, the Cabinet of Ministers of the Marshall Islands signed a partnership agreement with the creators of the project. On the basis of the Algorand blockchain, it is planned to create the state digital currency SOV, which will be in circulation along with the US dollar.
As in case with any other digital asset, it is difficult to make any predictions with ALGO. What forecasts do analytical platforms have for the near future?
So, according to Cryptonisation, it is expected that by the end of the year, in December 2021, it will already be equal to $ 1,377. Further, a gradual growth of the asset is assumed with a rate increase by May 2022 to $ 1.507. At the same time, due to analysts of the service, in May 2023 the asset will be able to overcome the $ 2,123 mark.
The Walletinvestor platform also has its own vision on Algorand price prediction. As stated by its analysts, by the end of 2021 the average cost of ALGO will be $ 2,744 which is twice that higher in comparison with ETN coin price prediction. In a year the ALGO rate is expected at $ 3,561, and in 5 years it will probably reach & 12,478.
Digitalcoinprice forecast shows that the cost of the asset in December 2021 will be $ 1.8. It is noted that a year later, in May 2022, the exchange rate will remain approximately the same, i.e. $ 1.82 proposing its rise up to $ 2.46 in 2023, $ 2.65 in 2024 with a gradual increase to $ 4.6 in 2028.
Algorand manages 1 million transactions per second, although it currently only supports only 1,000. This digital currency has a very bright future and it is likely to be worth up to $ 3 by the end of 2021. Certainly, the daily trading volume of this token could raise it in the ranking of the top 50 digital currencies in the world.