Algo is the native cryptocurrency of Algorand Blockchain. Algorand blockchain is open-source and decentralized. Algorand Blockchain has its unique consensus mechanism with a two-tiered structure based on proof of stake. Algorand was created by MIT professor Silvio Micali and launched in 2019. Algorand aims to solve blockchain trilemma with ultra-fast transactions with high security. Algo is a promising coin focused on payment network functionality.
With a total market cap of over $1.59 billion, Algorand is the No. 38 cryptocurrency by market size. The currency symbol for Algorand is ALGO. There will only ever be 10 billion Algorand tokens issued. So far 7.13 billion tokens (71.3% of the total supply) have been issued.
We found savings accounts offering up to 5% APR on Algorand deposits and loans as low as 8% APR against Algorand used as collateral. Check out our Algorand staking yields table and Algorand loan rates table for further details.
The technical price analysis for Algorand below is undertaken automatically by Tradingview by looking at over 20 different technical chart indicators. You can see how many of these indicators were BUY, NEUTRAL or SELL at the bottom of the chart. The indicators will change depending on what time frame you are looking at. The analysis does not consider market sentiment or broader macro issues that may affect the price of Algorand.
AAlmost all Algorand loans require you to provide collateral of higher value than the value of the loan that you are tkaing it. The only exception to this is Algorand flash loans which allow you to borrow uncollateralised Algorand for a few seconds as part of a wider transaction. You will need advanced coding skills to take advantage of flahs loans. You can compare all Algorand loans on the Algorand Loans tab.
QWhich venture capital firms have invested in Algorand?