• Algorand (ALGO) is a blockchain platform based on smart contracts
• ALGO holders receive nearly 7.5% APY as passive income on holding these crypto tokens
• Bullish ALGO price prediction for 2023 is $0.2814 to $0.4543
What is Algorand (ALGO)?
Algorand (ALGO) is the native cryptocurrency of the Algorand ecosystem. It is an open-source decentralized blockchain based on smart contracts, launched in 2019 following its mainnet launch. Like Ethereum, Algorand owns its native Algorand Virtual Machine (AVM). Through its smart contracts, users can develop various dApps on the blockchain and it facilitates fast, efficient, and sustainable transactions at lower costs. Furthermore, it helps resolve the blockchain trilemma: decentralization, security, and scalability with its “algorithmic randomness” consensus mechanism combined with Byzantine agreement protocol for validators and verifiers selection.
Current Market Status
As of March 30th 2021, ALGO holds the 40th position on CoinGecko with a current price of $0.225890 USDT and a 24-hour trading volume of $373,886,492 USDT with a 2.1% up in 24-hour price change. The circulating supply stands at 7,131,970,063 ALGOS while its all-time high was recorded at $3.56 USDT on June 20th 2019.
Algo Price Prediction 2023
An analysis using trader-friendly technical indicators predicts that bullish ALGO price prediction for 2023 lies between $0.2814 to $0.4543 while bearish predictions lie around $0.1214 USDT per token with potential for reaching a high of up to $0.6 soon enough if conditions stay favorable for this cryptocurrency platform over time through proper adoption and usage by individuals and organizations alike across the world’s financial market sector in general terms speaking from one perspective or another depending upon who you ask when all said & done whenever necessary within reason in regards to everything overall as we move forward into the future together today .
Ascending Triangle Pattern
The technical chart above demonstrates an ascending triangle pattern which usually indicates an ongoing bullish trend when broken out at resistance level eventually leading prices to further increase over time as investors capitalize upon their investments gradually throughout this process without fail each day making steady progress towards achieving their goals as they strive towards success never giving up along the way until they get what they want no matter what it takes no matter how hard it may seem like before hand beforehand so be ready & prepared well ahead of time whenever possible just incase because you never know what could happen next right now so stay alert always paying close attention every step of this journey moving forward together here today now understanding why this matters in the first place anyway basically speaking from one point of view or another depending upon whom you ask when asked regarding such topics related thereto accordingly one way or another as we continue onwards into tomorrow ultimately speaking from someones perspective somewhere somehow someday later down the line whenever necessary within reason & purpose .
In conclusion , Algorand (ALGO) has been performing very well since its launch back in 2019 following mainnet launch & its native AVM , PPoS consensus mechanism , algorithmic randomness approach & staking rewards have attracted many potential investors to invest in this promising cryptocurrency platform that could potentially reach highs of up to 0$6 sooner than expected if conditions remain favorable throughout 2023!