Algorand PriceALGO

There are two schools of thought when it comes to determining the price of a cryptocurrency like Algorand.
By way of intrinsic value: Intrinsic value is typically assessed through on-chain metrics, project metrics, and financial metrics of Algorand, collectively known as fundamental analysis. Factors such as the law of supply and demand, tokenomics, use case, project roadmap, and the regulatory and governance environment will influence the long-term value of Algorand.
By way of price action: technical analysis , using candlestick chart patterns and indicators like MACD, RSI, and Bollinger Bands, forecasts the price of Algorand on the basis that history tends to repeat itself.
Since candlestick charts reflect market sentiment, news announcements and community sentiment can also significantly influence the price action of Algorand.
Long-term investors usually favor fundamental analysis, while short-term traders often depend on technical analysis. In practice, combining both approaches can yield intriguing scenarios for Algorand and the broader cryptocurrency market.

Algorand achieved the all-time high of $3.56 in 2019-06-20, and is currently trading at $0.2348.

ALGO reached its all-time low of $0.08751 on 2023-09-11.

The current market cap of Algorand is $2.01B, as 8.58B ALGO is trading at the price of $0.2348.

There are currently 8.58B ALGO circulating in the market. These Algorand can be actively traded or used in the open market.

The maximum supply of ALGO is 10.00B , which includes its circulating supply, locked or staked supply, and the supply that has yet to be mined, minted, or created.

At the moment, the fully diluted market cap, also called the fully diluted value (FDV) of Algorand is $2.34B. The FDV is calculated taking the assumption that all supply of Algorand is circulation, multiplied by its current price of $0.2348.

Using an algorithm to automatically identify historical data trends, this Algorand price prediction adjusts its forecast from time to time based on current market conditions. With advanced machine learning, this prediction tool can help investors gauge market probabilities before making investment decisions.

Algorand offers a good potential ROI due to its inherent volatility, which presents numerous profit opportunities. However, this volatility is a double-edged sword, making it suitable for investors with high risk tolerance and a strong financial position. It is crucial to remember that Algorand and the broader crypto market are subject to extreme market conditions, regulatory changes, social media influence, and other unpredictable factors. Therefore, it is advisable to exercise risk management and do your own research (DYOR) before investing in Algorand.

You can buy Algorand via Gate.io by following the steps on how to buy ALGO once you have funded your account.