Algorand Price Overview and Market Analysis

Current Algorand Market Data

• Rank: #123
• Price: $0.715210 (102.98% change)
• 24h Trading Volume: $15,937,752
• Market Cap: $712,353,760

Algorand Price Today

The live price of Algorand (ALGO) is $0.715210, reflecting an 8.17% increase over the past 24 hours.

Historical Performance

• All-Time High: $15.72 (current price is -95.45% from ATH).
• All-Time Low: $0.040400 (current price is 1,670.33% above ATL).

What Is Algorand?

Algorand (ALGO) is a decentralized blockchain platform designed for scalability, security, and decentralization. It supports:

• DeFi protocols (lending, trading, yield farming).
• NFT platforms.
• Smart contracts and financial applications.

Key Features

• Pure Proof-of-Stake (PPoS): Energy-efficient consensus mechanism.
• Staking Rewards: Earn 5-8% annual returns by staking ALGO.
• Fast Transactions: High throughput with low fees.

How Algorand Works

1. PPoS Validation: Random selection of validators based on staked ALGO.
2. Block Formation: Two-phase process ensuring security via Binary Byzantine Agreement.
3. Decentralization: Open participation for global validators.

👉 Explore Algorand’s official technology

Algorand’s Development Timeline

• 2017: Founded by Silvio Micali.
• 2019: Mainnet launch post-$60M token auction.
• 2021: Partnerships with Six Clovers and Arrington Capital.
• 2022: $10M grant for Ethereum-Algorand bridge development.

Storing and Managing ALGO Securely

Cold wallets like Ledger provide offline private key storage, mitigating online theft risks.

Steps to Manage ALGO with Ledger:

1. Purchase a Ledger hardware wallet.
2. Install Ledger Live and the Algorand app.
3. Create an Algorand account.
4. Stake ALGO to earn rewards.

👉 Get started with Ledger

FAQ

How do I buy ALGO?

ALGO isn’t directly purchasable with fiat. Buy via trading pairs on exchanges using:

• Credit/debit cards.
• PayPal (via Ledger Live).

What’s the max supply of ALGO?

10 billion tokens, fully distributed by 2030.

Is Algorand eco-friendly?

Yes, its PPoS mechanism consumes minimal energy.

Can I stake ALGO on Ledger?

Yes, stake directly via Ledger Live for passive income.

Additional Resources

• Ledger Live Features
• Supported Cryptocurrencies

Note: Prices and data are live and subject to market fluctuations.