Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

The native coin of the Algorand ecosystem is Algorand (ALGO). Algorand is a decentralized open-source blockchain that uses smart contracts. After the mainnet launch in 2019, ALGO was introduced. Algorand has its own native Algorand Virtual Machine, similar to Ethereum (EVM). On the blockchain, users can create a variety of dApps using algorithm smart contracts.

Algorand, the official blockchain platform partner of the FIFA World Cup 2022, noticed an increase in investor optimism. ALGO has seen quite a lot of significant gains over the past month. It is expected that despite the fact that the market is critical now, ALGO will soon see the bulls on its side.

According to AlgoExplorer, there were 17.3 million accounts on Algorand as of the end of the previous year. The total number of accounts on the network climbed to 23.5 million by 10 March 2022. These figures have only risen over the last few months, and Algorand seems to be becoming more well-liked. Now, many people are wondering whether it is worthwhile to invest in ALGO.

In 2021, the entire crypto-market exploded, and ALGO suffered a similar fate. However, after a little while, it immediately went back to $1. ALGO saw some early signs of a robust comeback in February, reaching $ 1.67 before dropping once more. From February to April 2021, ALGO’s price fluctuated and occasionally fell, but it consistently stayed above $1 to provide a support level.

ALGO’s price rose up until 2022, when it fell to $0.90 on 14 February. Then, it gradually grew once more, largely because of LimeWire, an NFT marketplace for music