Algorand, founded in 2017, says it’s a permissionless, public and decentralized blockchain. It’s similar to Bitcoin or Ethereum in this respect. It’s designed to serve as a base-level blockchain protocol on which other dapps can be built and smart contracts operated.
One thing that makes Algorand different is that it claims to be highly scalable, so it’s not prone to the same bottlenecks or fee issues that Bitcoin or Ethereum frequently are. It uses a proof-of-stake system that provides immediate transaction finality, which eliminates a lot of the forking problems of earlier blockchains.
Algorand (ALGO) is the 33rd largest cryptocurrency in the world by market cap, valued at $2,442,891,661. The current price of Algorand is $0.354162, which is 0.001% lower than yesterday. Prices have ranged between $0.357786 and $0.345741 over the past 24 hours. All prices are listed in US dollars and accurate as of August 07, 2022 05:08 UTC.
| Coin symbol | ALGO |
|---|---|
| Coin Marketcap | US$2,442,891,661 |
| Total ALGO supply | 7,350,652,281 |
| Circulating ALGO | 6,949,413,248 |
| Current price | US$0.354162 |
| All time high | US$3.56 |
| All time high date | March 13, 2020 |
| Notable team members | Silvio Micali |
| Partnerships | AIKON, Envision Racing |
| Industry | Decentralised finance |
| Token uses | Transaction fees, digital currency |
| Network | Algorand |
Historical prices compared with the price of US$0.354162.
| 1 hour | -0.76% |
|---|---|
| 24 hours | 0.00% |
| 7 days | 0.87% |
| 14 days | 0.19% |
| 30 days | 4.85% |
|---|---|
| 60 days | 5.35% |
| 200 days | 9.62% |
| 1 year | -11.47% |
![Algorand [ALGO]: Assessing if investors should expect better in August](https://images.cryptocompare.com/news/default/ambcrypto.png)
Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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