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Algorand

ALGO

4.5

Price
$0.35
10/3/2022, 5:17:41 AM
diamondHands

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Market

Market stats

Market cap

$2.4B

Volume (24h)

$142.3M

Circulating supply

6.9B ALGO

Typical hold time

94 days

Popularity

#23

All time high

$3.28

Price change (1h)

-2.15%

Price change (24h)

-7.08%

Price change (7d)

-4.36%

Trading activity

93% Buy0% Buy
7% Sell100% Sell

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Algorand is on the decline this week.

The price of Algorand has fallen by 4.36% in the past 7 days. The price declined by 7.08% in the last 24 hours. In just the past hour, the price shrunk by 2.15%. The current price is $0.3453 per ALGO. Algorand is 89.47% below the all time high of $3.28.

The current circulating supply is 6,931,148,500.107 ALGO.

About

Algorand is a cryptocurrency and blockchain protocol that aims to be simultaneously scalable, secure, and decentralized. It uses a consensus algorithm called pure proof-of-stake.

What Is Algorand (ALGO)?

Algorand (ALGO) is a distributedledgerthat aims to remove the technical barriers in the blockchain and has a permissionless consensus mechanism

According to the Algorand whitepaper, the current blockchain faces the main challenges of the “blockchain trilemma”: security, scalability, and decentralization.

Algorand relies on randomness to solve the blockchain trilemma and uses the pure proof-of-stake (PPoS) algorithm built on a Byzantine agreement. A Byzantine agreement is a protocol for communication that allows the distributed system users to reach a consensus in the presence of malicious actors. PPoS helps achieve greater scalability without compromising the decentralization and security of the network while preventing a potential 51% attack

  • Decentralization: Algorand does this by selecting validators randomly from all token holders. The PPoS algorithm automatically picks the nodes belonging to the next group that becomes eligible to add blocks. Everyone can be selected by the system, thus maintaining decentralization on the platform. This ensures security (an important element in the trilemma), and no one knows who the next validators will be. On the platform, the PPoS algorithm uses staking to allow every token holder to potentially become a block validator. Thus, all users hold an equal chance to be chosen by the system. In this way, the network ensures decentralization. 

  • Scalability: Currently, Algorand processes over 1,200 transactions per second and aims to process 3,000 transactions per second with instant finality.

  • Security: Algorand is an unforkable blockchain that enables a high level of security.

ALGO is the native utility token of the Algorand network. The token is used to secure the consensus used to build each block on the platform and pay for every transaction. The platform aims to use the token to govern the growth of the Algorand ecosystem and as governance rewards for those who commit to voting as part of governing.

History of Algorand (ALGO)

Silvio Micali is the founder of the platform and has been an MIT faculty member since 1983 in the Electrical Engineering and Computer Science Department. He is the co-inventor of probabilistic encryption, zero-knowledge proofs, verifiable random functions. Steve Kokinos is the CEO and responsible for the overall business vision and strategy. W. Sean Ford is the COO and responsible for go-to-market execution and operations, including product management, engineering, marketing, and global community development. He also ran the Integration Management Office for LogMeIn's acquisition of Jive Communications in early 2018.

The Algorand Foundation is a not-for-profit organization with a vision of a frictionless, borderless economy built on public, decentralized blockchain technology. The Algorand Foundation has built the Algorand blockchain protocol in partnership with Algorand Inc.

On the Algorand platform, every user receives rewards proportional to their stake for every block committed to the chain. Through this process, Algorand aims to encourage users to join the Algorand platform and accelerate the path to decentralization.

How Many Algorand (ALGO) Tokens Are There?

The total max supply of ALGO is 10 billion.

How to Buy Algorand (ALGO)

Algorand (ALGO) can be traded at an exchange like Coinbase.

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Social

Algorand on social media.

Algorand was mentioned in 6,649 out of 1,632,849 social media posts on Twitter and Reddit on Oct 01, 2022. 3,999 unique individuals are talking about Algorand and it is ranked #41 in most mentions and activity from collected posts.

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Key indicators

Contributors

3,999 people

Posts

6,649 posts

Dominance

0.41%

Volume rank

#41

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FAQ

What is the current price of Algorand?

The price of 1 Algorand currently costs $0.35.

What is the market cap of Algorand?

The current market cap of Algorand is $2.39B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Algorand?

The all-time high of Algorand is $3.28. This all-time high is highest price paid for Algorand since it was launched.

What is the 24 hour trading volume of Algorand?

Over the last 24 hours, the trading volume of Algorand is $142.31M.

What other assets are similar to Algorand?

Assets that have a similar market cap to Algorand include Stellar Lumens, Crypto.com Coin, NEAR Protocol, and many others. To see a full list, see our comparable market cap assets.

How many Algorand are there?

The current circulating supply of Algorand is 6.9 billion.

What is the typical holding time of Algorand?

The median time that Coinbase customers hold Algorand before selling it or sending it to another account or address is 94 days.

What is the relative popularity of Algorand?

Algorand ranks 12 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Algorand?

Currently, 93% of Coinbase users are buying Algorand. In other words, 93% of Coinbase customers have increased their net position in Algorand over the past 24 hours through trading.

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