Algorand (ALGO) reminded the crypto enthusiasts about its existence by finally moving in the past couple of weeks. The developers seem to be showing more activity in work on the blockchain platform, which is a good sign. We come back to our Algorand price prediction to refresh the forecasts, give new targets for 2023 and 2033 alike. Dive right in!
Algorand Price Prediction 2023–2033
- In a summary of Algorand (ALGO) price prediction 2023, experts do not seem to have a consensus. Some think it will shed most of its value this year, while others expect it to bounce back;
- The most bullish time period for Algorand price predictions seems to be 2028. In five years, it is expected to grow to its highest historical levels;
- As for the ATH, it can be reclaimed by 2030 but then again, not all sources and estimations seem to agree.
What is Algorand and ALGO?
Algorand is a blockchain with the mission to end the need to compromise between scalability, security, and decentralization. The developers claim it’s secure, since it uses the latest cryptography, scalable, since it’s memory-efficient, and decentralized, since all network participants propagate it.
The Algo (ALGO) is the native currency of this blockchain which is necessary to secure the network. Any coin-holding account can be randomly picked for verification, without the need to stake ALGO, and its holder will receive rewards for validating transactions.
Since validators are chosen from coin holders and the balance defines the chances of receiving rewards, ALGO is considered a Proof-of-Stake currency.
In addition to that, ALGO has a part in governance and transacting, as well. You can read a deeper dive into Algorand in a tutorial from our blog.
History of Price of Algorand
ALGO Price in 2019–2021
The first portion of Algos on the market was distributed in an auction held by the Algorand Foundation. The very first ALGO were selling at $3.28, the still unreclaimed ATH (June 21, 2019).
However, since the cryptocurrency market had a global consolidation, 2019 closed with average trading value of ALGO at $0.22. In 2020, it rose to $0.49 but then crashed to $0.14 at the onset of the COVID-19 pandemic. In July 2020, it managed to rise to $0.64 when Algorand 2.0 arrived. It pumped only to drop back to $0.4, the closing price of 2020.
In 2021, Algorand was showing more promising results. Having started the year at $0.35 a piece, it rose to $1.75 on April 18 and then rallied to the yearly high of $2.83 on September 12. Both movements coincided with two legs of the Bitcoin bull run, but since it ended around the same time, the bullish action in the ALGO price ended as well.
ALGO Price in 2022–2023
2022 was the end of the market cycle that ended the bull run and saw most assets take a nose dive. Algorand was no exception, even despite the efforts of the Algorand Foundation. With the transition to a new, less centralized governance model, the Foundation’s influence on the ALGO price movements became weaker. Having opened 2022 at around $1.65, by its end ALGO was traded for only $0.17.
So far, 2023 is turning out to be a more bullish year than the one before it. From the bottom price, Algorand managed to grow to the current (at the time of writing) price of $0.2155. It ranks 39th according to CoinMarketCap with a market capitalization of $1,537,025,148.
What Influences the Algorand Price?
Algorand 2.0, which introduced layer-one smart contracts, tokens, and atomic transfers, caused a short-term surge in 2020. In 2021, Skybridge and Algomint were developed, both connecting the Algorand ecosystem to BTC and ETH.
In April 2021, the Algorand Foundation introduced a new governance model in which stakers can commit ALGO to a community pool to participate in voting. The transition to a decentralized governance model was finished in 2022 but Algorand Foundation still contributes to the development of the platform. It hosts online meetings and AMAs with core developers so that any stakeholder can stay up to date with the progress.
Writing for AMBCrypto, Michael Nderitu argues that the Foundation’s commitment to onboarding developers to the ecosystem can boost the confidence of investors and bulls and kickstart a bullish move.
Web3, DeFi, and NFTs
With the emergence of the concept of Web3, many blockchain platforms turned to pursuit it, Algorand included. With all the necessary infrastructure in place, they only needed to find builders to create the Web3 ecosystem. In 2022, Algorand purchased Napster and LimeWire, previously peer-to-peer file-sharing platforms for music. It became a step in the brands’ re-emergence as Web3 platforms, which continues to this day.
Smart contracts enabling tokenization naturally led to the NFT sector emerging on the Algorand network. Some projects developed with it independently are ALGO Gators, Al Goanna, and Space Monkeys. Algorand also scored some brand deals, such as a 2022 World Cup tie-in partnership with FIFA.
Another use case enabled by smart contracts is stablecoins: Algorand is used by a dozen of stablecoin issuers to bring fiat-pegged tokens to more users. Among these issuers are Tether, Centre, and Monerium. Recently, they were joined by the National Australia Bank.
Roughly a month ago, the news that MyAlgo wallet was allegedly exploited or hacked came to light. The potential damage was estimated to be $9.2 million. Algorand’s CTO took to Twitter to explain that the nature of the incident was not caused by a vulnerability with the blockchain or the SDK.
The fallout of the hack was mitigated by one of the key features of Algorand: rekeying. Users of the Algorand blockchain are able to change their private keys without changing their public addresses. Therefore, even if their address is compromised, with a timely rekey process, it can be salvaged and the access can be restored.
Algorand (ALGO) in Twitter
BREAKING: When speculation ceases, technology wil triumph and $algo is primed to ride the wave of the next era. @ParisBlockWeek #algorand pic.twitter.com/qYQrwLLeSm— Nick Papacon (@NickPapacon) March 22, 2023
Nick Papacon shared a video clip of Silvio Micali speaking at the Paris Blockchain Conference. The inventor of the protocol believes that the value of the ALGO token lies in the tech, not in the market speculation.
Why Algorand blockchain? $ALGO— g-host 👻 (@ghostofDLT) March 22, 2023
- Zero Downtime
- Instant Finality w 3.6 block speed + 6000 max TPS (goal of 10k+ since inception)
- Concierge Developer Relations (other chains SHOW ME WHAT YOU GOT) #crypto $BTC $ETH $BNB $XRP $ADA $MATIC $SOL #USDT #USDC https://t.co/w5ZbWqCYfT pic.twitter.com/cOifgC4qlN
User g-host shared a thread from the official Twitter account of Algorand with a few more arguments for why builders should consider the blockchain. It has robust support and toolset, and is future-proof — what else would you need?
$Algo— World Of Charts (@WorldOfCharts1) March 22, 2023
Forming Descending Channel In 3days Timeframe Incase Of Breakout Expecting 300 to 320% Bullish Move🔥🔥🔥#Crypto #Algo #Algousdt #Algorand pic.twitter.com/nEG5FSJNvI
Trader World of Charts shared his prediction for ALGO in the short term. Once it breaks out of a descending channel, he claims it has the potential to go up by 300–320%.
Our Algorand Price Analysis and Prediction
Algorand is one of the crypto assets typically held for a long period of time (105 days per Coinbase). It means that there is little movement of ALGO price, and it consolidates. However, if it were to break out as the bulls so desperately want it to, where would the price go?
Using the local high from the 2021 bull run as a point of reference, let’s see what resistance levels will meet the buyers on the way there. Some of the strongest levels on the Fibonacci extensions are $0.6756 and $1.52. If $2.371 were to be reached with nice bullish impetus, the next stop could be at $3.7424.
Are the volumes and relative strength there to support such a rally? Not yet, even though RSI in the undervalued area gives the bulls a favorable hand.
Algorand Price Prediction 2023
The YouTuber Crypto4light market reviews Algorand price charts across all time frames to see how it reacted to the news from the US. He believes that the untrend in ALGO markets is strong and will continue, bringing it to $0.22 next. However, this resistance is strong enough to warrant a rejection to $0.20 and even $0.18.
Even though the service gives a bearish signal for ALGO, WalletInvestor still considers it a worthy investment. The chance to fix a minimum price above $1 almost doesn’t exist, and the 2023 closing price can be anywhere between $0.00684 and $0.02051.
TheNewsCrypto gives both a bullish and bearish Algorand price prediction grounded in technical analysis. They come to the conclusion that currently Algorand price is experiencing a strong sideways trend but the signals warning of its change and high volatility flash, too. With that in mind, they suggest keeping an eye on the resistance near $0.28 and the support at $0.1846.
Algorand Price Prediction 2024, 2025
Algorithmic prediction service Previsioni Bitcoin projects modest growth of Algorand with several pullbacks during 2024 and 2025. During 2024, ALGO prediction forecasts growth from $0.28 to $0.3834 at the year’s close. It will briefly dip to $0.27 and $0.32 before bouncing. In 2025, Algorand’s growth will accelerate, and so will there be more volatility. They forecast ALGO will rally to $1.2684 and show a buying opportunity at $0.4 and $0.68 mid-2025.
CryptoNewsZ analyst David Cox is sure of the bright future of ALGO but skeptical about short-term price surges. He is betting on slow organic growth of the price in the next several years and expects ALGO to land close to $0.97 in 2025.
DigitalCoinPrice is moderately bearish as well but their estimates are more moderate. In 2024, there won’t be much volatility, and average trading prices for each month will be around $0.48 to a maximum level of $0.55. By 2025, the outlook will not change significantly, albeit the volatility is expected to be more noticeable. The ALGO average trading price will stay in the range between $0.64 and the maximum trading value $0.75.
Algorand Price Prediction 2028, 2030, 2033
In five years, by 2028, Coinpedia analysts assume that the development of the Algorand ecosystem will keep developing at the current pace. In that case, the user base will grow enough to warrant ALGO per $2.6 a piece but bears can hold it down to an expected minimum price $1.686 as well. A little further into the future, in 2030, ALGO will potentially reach $4.368 or at the very least, $2.752.
CoinPriceForecast thinks that it will take until 2030 for the ALGO coin to gain +140% and be traded for $0.51. Even if this prediction promises growth, the pace makes it nothing short of bearish. As for the ALGO coin price prediction for 2033, ten years from now, they claim it will go down from $0.57 to $0.55 by the EOY.
CryptocurrencyPricePrediction is way more positive about ALGO’s future and projects growth from $6.62 up to $8.69 in 2030. Their colleagues at AMBCrypto give the following estimate targets for 2030 and 2033 respectively: $1.08 and $2.15.
How to Buy Algorand?
You can do it on the ChangeHero website in a few steps:
- Go to the purchase page or click “Buy or sell crypto from Visa” in the widget on the home page. Choose your country, check the currency of purchase/selling and rate;
- Proceed and provide the blockchain address for purchase or selling. Check the Terms of service before finalizing the transaction;
- Verify your phone number, email address and ID details. Next, provide the information of the bank card. If you are selling, you would also need to choose refund options and transfer crypto to the generated address;
- Go through the KYC procedure with your state-issued ID and a selfie to finalize verification;
- And from here on, our partner processes the purchase.
How to Exchange Algorand Instantly on ChangeHero?
- Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. The Best Rate transactions will use the rate current to the time when your funds arrive. The Fixed Rate will use the rate at the time of step 1;
- As soon as the exchange has been processed, your ALGO is on the way to your wallet.
The customer support is here for you 24/7 in the chat on the website or through the email: [email protected].
Overall, the experts’ Algorand predictions are more tame than a couple of years ago. Back then, there was no telling how the crypto market would look today. Nevertheless, it has been a while since Algorand delivered something that would have made it break out of the downtrend, and the situation seems to change.
Do you agree with the cited predictions? Join the discussion and subscribe to us on Twitter, Reddit, Facebook and Telegram. For more content to help you navigate the crypto world, explore our blog.
Frequently Asked Questions
What will ALGO be worth in 2025?
Depending on the source, experts name targets in the range between $0.4 and $0.97 for Algorand in 2025.
Can ALGO reach $20?
Not a single cited source is confident in this scenario even in 10 years. With the current circulating supply of ALGO, it will need to amass a $14,277,497,440 market cap to reach $20 per ALGO. This is not unfeasible but for that to happen, Algorand has to land between XRP and Cardano.
What will ALGO be worth in 2030?
Experts name different targets for Algrand to reach in 2030: from a minimum of $0.51 to a maximum value of $8.69.
Is ALGO a good investment?
Algorand (ALGO) is a coin with strong fundamentals and talent behind it. At the same time, it left some holders underwhelmed with its performance. Increasing developer activity can give the necessary confidence to increase the value of ALGO.
This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis and at your own risk.