Algo price rising steadily in next five years
If you were looking at the Algo price and wondering whether to invest in this cryptocurrency during this bear market, it just might be one of the best choices for you.
Still, the coin has to perform up to expectations, so we looked and made some of Algorand’s price predictions from 2022 to 2030.
Algorand stood at $0.3122 with a 24-hour trading volume of $69,136,042. Algorand was rising by 2.62% at the time of writing. The current CoinMarketCap ranking is #30, with a live market cap of $2,168,961,784. It has a circulating supply of 6,95 billion Algo coins.
We could say that Algo was growing steadily but at a slower pace during the last few months. Also, the current crypto winter and the overall bear market significantly impacted the token.
Back in March 2020, the token hit the ground with the $0.1024 record low. On the other side, back in June 2019, the price stood at its highest - $3.28.
The token picking some momentum, though; therefore, we think the price direction will look bullish during the next few years.
We predict Algo coin in 2022 will be $0.32 at the end of the year. At the time of writing, however, ito was down by around 80% from its opening price in January 2022. Still, we believe the company’s acquisition of John Alan Woods, technical director of Cardano, who joined Algorand as CTO, will benefit the price rise.
In 2023, we predict the token price will hover around $0.45-$0.52. Algorand recently became an official Fifa blockchain, and we anticipate this will offer greater exposure to the broad public.
Our Algo prediction for 2024 is $1.02. Even though the token was called an Ethereum killer, Cardano still stands as a heavy competitor. However, since Wood’s transfer, we think it will manage to break a critical $1 psychological limit.
We predict that in 2025, the token will stand at $1.24. We predict that, with numerous developments within the blockchain space, including developer forums and Algorand IDE, Algorand will show up to the task.
We predict that in 2026 Algo will be worth $1.56. his will probably show how the token competes against other cryptos regarding Web3, including Metaverse, gaming, and the NFT market.
Our Algo price prediction for 2027 stands at $2.09. Algo may profit from its apps library; some trending ones such as Folk’s finance, Yieldly, and Humble Defi.
Author: Teuta Franjkovic
A sincere writer with a strong will to share knowledge on all things blockchain, crypto, metaverse and DeFi. Starting out as a writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing newspapers and websites within the fintech industry for over 15 years. She holds a double MA in Public Politics and Entrepreneurship.