Algorand [blockchain](/news/article/blockchain-for-dummies) doesn't have the retail hype surrounding competitors, but that doesn't matter. The protocol is garnering institutional adoption, and Algorand news shows there's much more behind the scenes. This article lifts the curtain to offer you a preview.

## Algorand news often misses out

Algorand (ALGO) is an often-overlooked powerhouse, but ongoing Algorand news reveals a token with a promising future. The platform presents powerful features, including low fees, high-speed transactions, and various potential applications. Unfortunately, most investors miss out on its opportunities because it doesn't usually make it to the mainstream media. The truth is that the protocol has hidden value and the potential to join the league of top cryptocurrencies in the future.

## Upgrade boosts performance

Algorand recently released a network upgrade that reduced the protocol’s block time significantly and boosted its performance. According to the [announcement](https://twitter.com/Algorand/status/1671867287534534657), the newly released upgrade by the Proof of Work (PoW) network that went live on the Mainnet on 22 June, 2023, enhanced the network's speed by roughly 10%. Accordingly, the block time reduced from the previous 3.8 to 3.3 seconds, one of its most significant time reductions ever percentage-wise.

Following the news, the network's native token ALGO's value surged nearly 5% within 24 hours to trade at $0.13.

## Algorand 3.16.0-beta update

Other Algorand news indicates that while it may have suffered a severe body blow following US Security and Exchange Commission's (SEC) assertion that the project was a security, the protocol is already on its way to full recovery from the almost 25% crash it suffered that saw investors sell their holdings in an attempt to cut their potential losses. 

While the SEC announcement was bad news for the investor community, the [silver lining](https://github.com/algorand/go-algorand/releases/tag/v3.16.0-beta) that didn’t reach the limelight was the new [3.16.0-beta](https://developer.algorand.org/articles/developer-improvements-in-go-algorand-316/) update earlier in June 2023 that would improve the protocol’s usability, add new developer tools and add a few minor tweaks that would make it the fastest project in terms of responsiveness and transaction speeds.

## Algorand invades the Argentinian skies

Earlier in the year, some stealth Algorand news showed Argentinian low-cost airline Flybondi had integrated the nascent Web3 into its operations. Per the[ announcement](https://flybondi.com/ar/prensa/Noticias/193b58c1-74d4-4794-ac82-f7c856d1e040), Flybondi partnered with TravelX to issue e-tickets as non-fungible tokens ([NFTs](/news/article/are-nfts-dead-investigation)) on the Algorand blockchain. 

The integration was announced in early March 2023, and christened Ticket 3.0 was an expansion of the airline’s existing partnership with TravelX starting in September 2022. The Algorand-based NFT ticketing technology enables passengers to alter details and sell or transfer their NFTickets to gift family or friends via a self-management module.

## Kokua survivor wallet

Further Algorand news shows the human side of the protocol following its [recent announcement](https://www.prnewswire.com/news-releases/st-vincent-de-paul-disaster-services-launches-kokua-a-platform-for-disaster-relief-disbursements-built-on-the-algorand-blockchain-to-bring-game-changing-efficiency-and-transparency-to-relief-funding-for-people-impacted-by-natur-301690364.html) of corporate social responsibility (CSR) in partnership with St. Vincent de Paul Disaster Services.

The aid organization chose the Algorand blockchain to launch its Kokua survivor wallet. The disbursement platform streamlines the connection between relief organizations and natural disaster survivors to facilitate their recovery.

Survivors will validate their identity, redeem their household goods and furniture, and receive aid digitally via the Algorand blockchain. Amazon would fulfill the order–all using the Kokua survivor wallet.

## Conclusion

The nature, capability, and utility of Algorand have seen people view ALGO as a direct competitor of the dominant Ethereum. While it may not be too apparent to most crypto fans, Algorand news shows a crypto project with a bright future.

Algorand's impressive high-speed transaction processing and efficient functioning will see the protocol match and maybe overtake its competitors in the future.

Algorand news: Making silent moves behind the scenes

MyAlgo Wallet is a [digital cryptocurrency wallet](/news/article/solana-phantom-wallet-guide) launched by the Algorand Foundation. This project by Algorand is fairly new and is the second digital wallet in their collection. Here's how you can create a new wallet on MyAlgo and activate it properly.

## Create an account on MyAlgo Wallet’s website

Open your browser of choice and head to the [MyAlgo Wallet website](https://wallet.myalgo.com/new-account). 

Here, you'll see the terms and conditions and a rather in-your-face disclaimer. The website will warn you of the decentralized nature of the digital wallet, and also remind you to take special care of your mnemonic seed, which we'll discuss below.

Then, you set a password that passes the requirements set by the website and click on "New Account". This will allow you to create a new MyAlgo Wallet.

## Store and verify your mnemonic seed phrase

On your screen, you'll come across five cards consisting of a collective total of 25 words. This will be your mnemonic seed phrase. Ensure you save it, store it somewhere safe physically on a piece of paper, and never lose it. It will be the only verification method to access your account should a mishap occur.

You'll also be asked to verify this seed phrase in the same order as it was displayed previously. Make sure you get this part right!

## Set an account name and voila!

Finally, set a name for your wallet and hit the "Create Account" button. You're now set and ready to start trading ALGO crypto coins!

We must stress this again; it is essential that you make sure that your mnemonic seed phrase is secure and accessible only to you. If someone else gets access to it, they'll automatically have access to your account. 

Don't leave yourself vulnerable, and be safe out there!


blue image of hands opening wallet with myalgo logo

MyAlgo Wallet: How to Make and Use One

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](/news/category/altcoin-news) 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](https://coinmarketcap.com/) 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. 

## 2022 Estimate

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.

## 2023 Estimate

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.

## 2024 Estimate

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.

## 2025 Estimate

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.  

## 2026 Estimate

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. 

## 2027 Estimate

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.



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