ALGO

Algorand price

ALGO
Quote currency
$0.19-1.85%
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Overview
Analysis

Algorand price live data

The current price of Algorand is $0.19. Since 00:00 UTC, Algorand has decreased by 1.85%. It currently has a circulating supply of 8.05B ALGO and a maximum supply of 10.00B ALGO, giving it a fully diluted market cap of $1.50B. At present, Algorand holds the 56 position in market cap rankings. The Algorand/USD price is updated in real-time.

Algorand price performance in USD

Time periodChange amount%Chg
Today$0.00-2.00%
7 days$0.00-4.58%
30 days$0.02213.48%
3 months-$0.03-16.83%

Algorand market information

24h low/high
24h low$0.19
Last price $0.19
24h high$0.20
Heat index ranking
174
Market cap ranking
56
Market cap
$1.50B
Favorited rate
2.47%
All-time high
$3.79
-95.12% (-$3.60)
Jun 21, 2019 (5 years ago)
All-time low
$0.082
+126.52% (+$0.11)
Aug 18, 2023 (7 months ago)
ICO date
06/17/2019
ICO price
$0.050
Circulating supply
8.05B ALGO
Market cap at circulating supply
$1.50B

About Algorand (ALGO)

Algorand is a decentralized blockchain network that aims to solve the blockchain trilemma by providing a secure, scalable, and fully decentralized network. Furthermore, because the source code of the Algorand blockchain is entirely open source and permissionless, the network is designed to be accessible and provide an ideal environment for developers to deploy decentralized applications (DApps) rapidly.

The Algorand blockchain is secured by an innovative Pure-Proof-of-Stake (PPoS) consensus mechanism. This gives Algorand the necessary processing power to execute over 1,000 transactions per second. Moreover, the Algorand network benefits from low gas fees, making it user-friendly.

One of the unique benefits of Algorand over other blockchains is that ALGO holders can earn rewards without needing to stake their ALGO tokens due to its unique consensus mechanism. Instead, rewards are automatically distributed to holders via the chain's PPoS consensus model. Hence, many traders consider Algorand an excellent blockchain for the mass adoption of cryptocurrency.

ALGO is the utility and governance token of the Algorand blockchain. ALGO is required to pay gas fees when completing on-chain transactions and is used to vote on essential governance proposals regarding the development of the Algorand blockchain. In 2020, it was announced that the Marshallese sovereign (SOV), which could become the first state-backed digital currency to enter circulation, would be built using the Algorand protocol. SOV is a blockchain-based currency and the new legal tender of the Republic of the Marshall Islands. SOV could become the first state-backed digital currency to enter circulation and is being built using the Algorand protocol by SFB Technologies.

ALGO price and tokenomics

The current circulating supply of ALGO tokens is approximately 7.07 billion tokens. This represents roughly 70 percent of the total ALGO supply of 10 billion tokens. The Algorand Foundation holds the remaining ALGO tokens in secure wallets. The Foundation aims to enable an inclusive, borderless global economy through Algorand's blockchain technology.

1,757.26 million tokens are allocated to community and governance rewards, 1,176.05 million tokens are distributed to ecosystem support, and 363 million tokens are channeled towards foundation endowment. Seed and presale round investors could sell their ALGO token allocation back to the Algorand Foundation at 90 percent of the initial purchase price.

These tokens were then burnt by the team, effectively reducing the supply. This deflationary mechanic was intended to increase token scarcity and drive appreciation to Algorand's price. In June 2019, via a Dutch auction, Algorand raised over $60 million in the public sale of its native token ALGO. The company sold 25 million tokens in less than 4 hours.

About the founders

Algorand was founded by Silvio Micali, the co-inventor of probabilistic encryption, zero-knowledge proofs, verifiable random functions, and other protocols that heavily contribute to modern cryptography. In 2017, Micali founded Algorand, overseeing all research, including theory, security, and crypto finance. He also received the Turing Award for computer science, the Gödel Prize for theoretical computer science, and the RSA prize in cryptography.

Since 1983, Micali has been a faculty member at the Massachusetts Institute of Technology (MIT) in the electrical engineering and computer science department. His research interests include cryptography, zero knowledge, pseudorandom generation, secure protocols, mechanism design, and blockchain.

Learn more about Algorand (ALGO)

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Algorand FAQ

What is Algorand?

Algorand is a decentralized blockchain network capable of executing smart contracts. Algorand's low fees, rapid finality, and high transaction throughput have attracted interest from several nations looking for central bank digital currency (CBDC) solutions.

Should I purchase ALGO?

At OKX, we advise you to research any cryptocurrency before trading. Cryptocurrency is deemed a high-risk asset and prone to sharp price movements. Therefore, we ask that you only buy what you are willing to lose. Furthermore, like all cryptocurrencies, ALGO is volatile and carries risks. Therefore, before purchasing, you should do your own research (DYOR) and evaluate your risk appetite before proceeding.

How can I buy ALGO?

Easily buy ALGO tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include ALGO/USDT and ALGO/USDC.

You can also buy ALGO with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for ALGO with zero fees and no price slippage by using OKX Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into ALGO, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

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