Algorand (ALGO) Price Prediction 2025-2030: More losses for ALGO ahead
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.
ALGO is the native cryptocurrency of the Algorand blockchain, a proof-of-stake blockchain that deals with smart contracts. The crypto’s price has fallen by 18% over the past week alone, with the altcoin valued at $0.18 at press time. In fact, the crypto breached its last support level at $0.19 on the charts, a breach which means it could fall as low as $0.16.
Over two weeks ago, ALGO’s price was barely below $0.3 but then, things took a turn for the worse. The aforementioned downtrend was further accentuated by the Silvergate crisis and the rest of the crypto-market reacting bearishly to it.
Read Price Prediction for Algorand [ALGO] for 2023-24
Algorand’s performance as a project has engaged its first Chief Financial Officer (CFO) Mathew Commons, who was hired for the new position. This appointment takes place at a time when the Algorand ecosystem is expanding extremely quickly.
Since the beginning of the year, the total locked value (TVL) has been rising rapidly. At the end of 2022, it was $75 million. Figures for the same have risen over the last few months, despite the most recent decline in ALGO’s value.
Although Algorand (ALGO) is intended to be a very effective proof-of-stake (PoS) blockchain, other networks like Ethereum (ETH), BNB Chain, and Solana (SOL) have been at the forefront of significant DeFi activity. The narrative surrounding the blockchain appears to be changing for the better based on the increase in Algorand’s DeFi TVL during the past week.
Algorand has created a mark in traditional institutional circles, in addition to numerous
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