Algorand priceALGO

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ALGO price live data

The current price of Algorand is --, with a 24-hour trading volume of --. In the last 24 hours, the price of Algorand increased by 2.98%. With a circulating supply of 6,547,171,111 ALGO and a maximum supply of 10,000,000,000 ALGO, Algorand's fully diluted market cap stands at --. Currently, Algorand ranks No.32 by market cap. The ALGO to price is updated in real-time.

Algorand market information

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6,547,171,111 ALGO
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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 investors 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 important 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's primary aim is to enable an inclusive and 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 is also the recipient of 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.
Where can I view the current Algorand price?
To view the latest Algorad price, select "Spot" from the Trade dropdown menu. Then, at the OKX Spot Trading page, enter ALGO in the search bar located at the top left-hand corner. You may now view the price of ALGO against the various trading pairs offered on OKX.
Is ALGO a good investment?

At OKX, we advise you to research any cryptocurrency before investing objectively. Cryptocurrency is deemed a high-risk asset and prone to sharp price movements. Therefore, we ask that you only invest what you are willing to lose.

Furthermore, like all cryptocurrencies, ALGO is volatile and carries investment risks. Therefore, before investing, you should do your own research (DYOR) and evaluate your risk appetite before proceeding.

What is the maximum supply of Algorand?
The maximum supply of ALGO tokens is 10 billion. Of that number, there are currently 6.9 billion tokens in circulation.
How can I buy ALGO?

You can buy ALGO from OKX exchange. OKX offers the ALGO/USDT, ALGO/USDC, and ALGO/BTC trading pairs. Alternatively, you can buy BTC directly with fiat or convert your crypto to ALGO.

Before you begin trading with OKX, you need to create an account. To buy ALGO with your preferred fiat, click "Buy with card" under "Buy Crypto" on the top navigation bar. To trade ALGO/USDT, ALGO/USDC, or ALGO/BTC, click "Basic Trading" under "Trade." Then, under the same tab, click "Convert" to convert crypto to ALGO.

Alternatively, visit our new OKX Crypto Calculator. Select ALGO and the desired fiat that you would like to convert to view the estimated live conversion price.