Algorand Crypto
| ALGO Crypto | USD 0.11 0.01 8.33% |
Performance1 of 100
| Risk Of DevaluationLess than 17
|
Algorand is trading at 0.11 as of the 2nd of November 2024, a 8.33 percent decrease since the beginning of the trading day. Algorand has less than a 17 % chance of experiencing some financial distress in the next two years of operation, but did not have a good performance during the last 90 trading days. Cryptocurrency ratings for Algorand are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 4th of August 2024 and ending today, the 2nd of November 2024. Click here to learn more.
Algorand is peer-to-peer digital currency powered by the Blockchain technology. More on Algorand
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Algorand is a digital token from an internet market maker for p-2-p internet money called Cryptocurrency. Algorand has been active in the last 3 months, and it is presently trading with a bearish sentiment. Cryptocurrencies such as Algorand are digital assets that allow for secure payments and are represented by ledger entries internal to the system, generally referred to as a blockchain. Blockchain implementations use encryption algorithms and cryptographic techniques that safeguard entries in the ledger. Cryptocurrency assets such as Algorand are becoming very popular among investors and have been praised for their portability, inflation resistance, and transparency. However, they face a lot of criticism, including lack of tax regulations, exchange rate volatility, and infrastructure vulnerabilities.
Algorand Crypto Coin Highlights
Most cryptocurrency investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend or investor sentiment. Algorand's investment highlights are automatically generated signals that are significant enough to complement your investing judgment regarding Algorand or challenge it. These highlights can help you better understand the crypto position you are entering and avoid costly mistakes.
| Business Concentration | Technology, Cryptocurrency, Blockchain (View all Sectors) |
Algorand is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 23 exchanges in multiple currencies. Algorand (ALGO) is a decentralized, permissionless blockchain protocol and open-source cryptocurrency used to facilitate transactions and secure the network against malicious actors. It is designed to provide fast, secure, and reliable transactions with low transaction fees and scalability. Algorand (ALGO) is an asset-agnostic, proof-of-stake protocol used for transferring money, purchasing goods and services, sending messages securely, creating and deploying decentralized applications (dApps), tokenizing assets, and creating smart contracts. Algorand (ALGO) is a valuable asset for investors due to its low transaction fees, scalability, and security. It was created by Silvio Micali, a Turing Award-winning professor at MIT and renowned cryptography expert, and is managed by the Algorand Foundation. | |
| Coin Type | Algorand |
| Proof Type | PoS |
| Industry | Financial and Insurance Activities |
| FINMA | Payment |
| FCA | Exchange |
| Access | Permissionless |
| Collateralized Asset | No |
| Symbol | ALGO |
| Rating | D+ |
| Technology Adoption Rating | D+ |
| Name | ALGO |
| Sponsored | false |
| Asset Whitepaper Url | View |
| Is Trading | true |
| Algorithm Type | sha-256 |
| Asset Launch Date | 2019-06-11 |
| Full Name | Algorand (ALGO) |
| Asset Website Url | https://www.algorand.foundation/ |
| Asset Token Status | Finished |
| Block Number | 43.88 Million |
| Platform Type | blockchain |
| Coin Name | Algorand |
| Total Coins Mined | 10 Billion |
Algorand (ALGO) is traded on CRYPTO Exchanges. Algorand is peer-to-peer digital currency powered by the Blockchain technology. The coin currently falls under 'Nano-Cap' category with a current market capitalization of 2.3 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Algorand's market, we take the total number of its shares issued and multiply it by Algorand's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities.
Algorand's Exchanges and Markets
HitBTC CoinJar Bitfinex Bitstamp Luno Unocoin Coinbase Kraken NDAX BitMart Binance Korbit DigiFinex Exmo Coinone Bitkub Bithumb BTCMarkets Bibox Bitso CoinEx LBank BigONEAlgorand Risk Profiles
| Mean Deviation | 2.52 | |||
| Standard Deviation | 4.82 | |||
| Variance | 23.21 | |||
| Risk Adjusted Performance | 0.006 |
Algorand Technical Analysis
When it comes to investing in cryptocurrency, such as Algorand, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of Algorand, which is currently traded at 0.11, shows everything you need to know about Algorand market value. You don't have to consider the fundamental factors that affect a crypto asset, such as Algorand, to determine its price movements. However, the Algorand's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so Algorand's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project Algorand's future price trendTransformation |
The output start index for this execution was zero with a total number of output elements of sixty-one. Algorand Inverse Tangent Over Price Movement function is an inverse trigonometric method to describe Algorand price patterns.
Algorand Against Markets
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Our tools can tell you how much better you can do entering a position in Algorand without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.Did you try this?
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How to invest in Algorand
You need to understand the risk of getting into digital currencies such as ALGO before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in Algorand in four ways:Buy ALGO through an exchange
Get yourself a crypto wallet before embarking on your Algorand journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase Algorand. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.Purchase fractions of Algorand through an exchange
You don't have to buy a full token when starting out since ALGO is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.Trade Algorand through a broker
If you don't want to store your Algorand Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.Invest in ALGO through an exchange-traded fund (ETF)
You can also invest in ALGO through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.Investing Ideas
In addition to having Algorand in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Thematic Opportunities
Explore Investment Opportunities
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algorand. Also, note that the market value of any cryptocurrency could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.