In two months, Algorand
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turned the corner, and fortunes for ALGO holders changed. Not only did the coin bounce from $0.10 registered in early November but it did so in a spectacular fashion.
By the time the world knew Donald Trump was the people’s choice, replacing Joe Biden, ALGO price flew to as high as $0.55, a 500% surge.
The recovery was a shot in the arm for buyers, most of whom were almost giving up, considering the doldrums and turbulence of the first half of 2024.
Now, as the market continues wobbling and swinging within a narrow range, with top altcoins like Bitcoin and Ethereum struggling to pierce key resistance levels, there is optimism that 2025 could be the year of the Algorand boom.
Algorand Rose 500% In Q4 2024: What Does 2025 Mean For ALGO Price?
On the last day alone, Coingecko revealed that ALGO was up nearly 5%, pushing prices to over $0.41. Technically, this resilience and impressive absorption of selling pressure could suggest what lies ahead.
From a technical viewpoint, ALGO is presently nestled inside a bull flag. As long as prices stay above the local support at $0.30, there is a high probability that buyers will push higher, breaking $0.50 and 2024 highs of around $0.55.
(ALGOUSDT)
If this prints out, there is little doubt that ALGO may conquer $1 by the end of the year. Thereafter, the coin may begin targeting $3.5, a price last printed over five years ago in June 2020.
This bullish outlook is thanks partly to the overly bullish crypto market, improving sentiment on digital assets, and a string of announcements from the Algorand Foundation.
Algorand Changing The Staking Game
What’s really stirring the ALGO pot at the moment is the release of the Algorand 4.0 upgrade and the announcement of a new staking program.
Algorand 4.0 represents a fundamental shift in how proof-of-stake blockchains distribute rewards going forward.
Under the new program, Algorand will distribute rewards to validators in real time, starting with 10 ALGO per block. Compensation will thereafter gently decay by 1% after every one million blocks.
Additionally, validators will receive 50% of transaction fees from blocks they successfully validate.
A new dawn for decentralisation.
Algorand 4.0 is here, consensus upgraded.
Today we stand at the precipice of a transformative moment.
With this upgrade Algorand is more secure and more community owned than ever before.
This isn’t just an upgrade, it’s a revolution.
— John Woods (@JohnAlanWoods) January 16, 2025
The decision to reward validators instantly is a stark contrast to setups in Solana and Ethereum, for example. All this will be done without compromising security, slashing stakers, or preventing users from using staked assets in other DeFi operations.
“While staking on Algorand is highly inclusive, it’s highly secure as well,” said John Woods, CTO of the Algorand Foundation. “Algorand uses advanced cryptography that makes it unnecessary to put user funds at risk of penalty or loss – their ALGO does not need to be delegated to other parties or locked up to be used to secure the network.”
It remains to be seen how ALGO prices will perform in the weeks ahead. From the daily chart, bulls are in control and the community is excited. Algorand 4.0 is a huge milestone and is after what was a successful 2024 for the proof-of-stake chain.
By July 2024, the network had accumulated over two billion transactions driven by a spike in DeFi and TradFi activities.
(Source)
At the same time, the blockchain attracted more developers.
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The post Will This Special Program Propel Algorand To New Highs? appeared first on 99Bitcoins.
