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AlgorandALGO

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ALGO Price Live Data

The live price of Algorand is $ -- (ALGO/USDT) today with a current market cap of $ 1.43B. 24-hour trading volume is $ 43.09M. ALGO to USDT price is updated in real-time. ALGO is 0.00% in the last 24 hours. It has a circulating supply of 8.15B USDT.

ALGO Market Information

Popularity
info

#60

Market Cap
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1.43B

24h Volume
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43.09M

Circulation Supply
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8.15B

About(ALGO)

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.

FAQ About Algorand (ALGO)

  • What is Algorand (ALGO)?

    Algorand (ALGO) is a cryptocurrency that serves as the native digital currency of the Algorand blockchain platform. Algorand is a decentralized blockchain protocol designed to provide a scalable, secure, and efficient environment for building decentralized applications (DApps) and executing smart contracts.
  • What is ALGO Used For?

    ALGO can be used for value transfer in the Algorand eco-system. It is also used to protect the Algorand Network. ALGO can also be staked by validators of the network to reward them for validating transactions and keeping the PoS Blockchain secure. ALGO is currently available on Toobit.
  • How to Buy Algorand (ALGO)?

    You can buy ALGO with USDT here on Toobit. Read our guide on How to Buy Crypto on Toobit for more information.
  • What is Algorand (ALGO) Price Now?

    Are you looking for ALGO Price? Live ALGO price is updated in real-time on Toobit.
  • Where to Buy Algorand (ALGO)?

    You can buy ALGO on some cryptocurrency exchanges. Choose one that suits you. You also can buy ALGO on Toobit with USDT. Read our guide on How to Trade Spot on Toobit for more information.
  • How does Algorand work?

    Algorand operates on a permissionless pure proof-of-stake (PoS) blockchain protocol. In the PoS approach, validators are known to each other and only need to agree on the next block to create a new one, unlike PoW blockchains where validation requires computing power. Algorand's two-phase block manufacturing procedure involves proposing and voting. By staking ALGO and having a valid participation key, all network members can participate in this process. Regular compensation is provided to incentivize participation in the Algorand network.
  • What are the potential use cases for Algorand?

    Algorand is a cutting-edge blockchain platform designed to handle a wide range of applications, thanks to its robust and efficient systems that prioritize security and scalability. Its low transaction fees and quick processing times make it an ideal choice for numerous real-world use cases. By offering compatibility with Ethereum through a bridge, Algorand seeks to tap into the vast DApp ecosystem of Ethereum, potentially attracting more users to its own platform. The ultimate aim of Algorand is to establish a solid decentralized finance (DeFi) ecosystem on its network, further establishing its foothold in the industry.
  • How does the performance of Algorand price compare against its peers?

    With a price decline of -9.30% in the last 7 days, Algorand (ALGO) is experiencing a downturn compared to the global cryptocurrency market, which is down by only -4.00%. Additionally, ALGO is also lagging behind similar Layer 1 (L1) cryptocurrencies, which have only seen a decline of -3.50%.
  • What has been the changing trend of ALGO price in recent years?

    Algorand's native cryptocurrency, ALGO, has a capped supply of 10 billion tokens, generated at the inception of the Algorand network in 2019. A significant portion of these tokens are currently locked up and awaiting distribution.
    A portion of the ALGO tokens has been designated for the organizations involved in the advancement of the Algorand ecosystem. For instance, 2 billion (20%) of the total token supply was allotted to Algorand Inc., which provides transparent reports on the utilization of these funds. Additionally, 500 million (5%) of ALGO was allocated to the Algorand Foundation, which spearheads the development efforts for the project.
    There are several pools of ALGO tokens that will be gradually released to users over time. Approximately 2.5 billion ALGO will be auctioned by the Algorand Foundation, with 25 million ALGO already sold during the initial coin offering. Furthermore, 1.9 billion ALGO has been earmarked as rewards for participating in the Algorand network, while around 3.1 billion ALGO will be granted to early adopters running relay nodes.
    The price of ALGO commenced at $2.19 at its launch in June 2019, but subsequently experienced a decline to as low as $0.19 in August of the same year, based on data from Toobit. Following a resurgence in the cryptocurrency market in 2020, the price of ALGO surged, reaching a peak of $1.71 in February 2020. The all-time high for ALGO's price was achieved in June 2021, reaching $2.37.
  • How Many Algorand (ALGO) Coins Are There in Circulation?

    The creation of the Algorand blockchain set the total supply of ALGO at 10 billion coins. Originally intended to be distributed by 2024, the distribution timeline for the fixed and unchangeable 10 billion ALGO has been extended to 2030.
  • What are the Key events and management of ALGO?

    Algorand was established in 2017 by renowned Italian computer scientist Silvio Micali, who introduced the innovative concept of pure-proof-of-stake to address the scalability challenges faced by traditional blockchain networks.
    The mainnet of Algorand was officially launched in June 2019, generating significant interest and raising $60 million in its initial ALGO token sale. Prominent venture capital firms such as Union Square Ventures and Pillar Venture Capital have also made strategic investments in Algorand, recognizing its potential in the rapidly evolving cryptocurrency space.
    In a significant development in June 2021, fintech infrastructure provider Six Clovers unveiled a cutting-edge cross-border payment system built on the Algorand platform. Around the same time, Arrington Capital launched a $100 million fund specifically dedicated to supporting projects and initiatives on the Algorand network, underscoring the growing confidence and investment interest in the platform.
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