Is Algorand dead or can it recover?

[danherbias07]

Within the tumultuous seascape of cryptocurrency, the storm of instability is the lifeline we clutch onto, wouldn't you say? The predicament you're grappling with regarding Algorand echoes across the crypto cosmos in this era of relentless disruption. The seismic shockwaves sent by the latest SEC verdict certainly upset the apple cart. Algorand finds itself in the eye of the storm, inducing a collective, nail-biting suspense among all.

Yet, one mustn't mistake this narrative. The branding of Algorand as a security isn't the mortal blow you might perceive it to be. There's a whole plethora of securities that shine in the marketplace. The real pivot of discussion is the inherent usefulness and worth of the asset at hand.

This transient plummet might seem merciless, yet recall the genesis years of Bitcoin. It danced its own waltz of peaks and troughs before it found its stride. Thus, the question of Algorand's mortality or survival lies largely in the beholder's gaze. If faith in the project remains unwavering, this could very well be a golden opportunity. However, remember, in the unforgiving world of crypto, guarantees are elusive as shadows.

Dude, that's deep, I didn't even understand anything you said.  We can always just make it simple.

OP, it's not dead but big problems are coming out.
https://www.coindesk.com/business/2023/07/11/defi-protocol-holding-55-of-algorand-value-to-shut-down/

Algofi, the largest decentralized finance protocol on layer-1 blockchain Algorand, said it will shut down following a "confluence of events" that meant it could no longer be maintained to its highest standard.
The platform, which offers lending, borrowing and trading, will shortly move into withdrawal-only mode, a blog post said.

Now, it's your choice. If you are on the losing side and you think it's still worth the wait then go for it.
IMO, I would withdraw if they are given a chance to do it now. For me, these are bad signs of something bigger happening and I am so pessimistic about it.
The chances of it closing down is there.
Again, it's your choice. There are other projects who survived this kind of thing and went up afterward due to heavy support from their investors and retail buyers. If you think the money you spend investing with them is okay to lose then stay.

[judaspriest]

What you must know with altcoins is that once the price is dumped it becomes almost impossible for it to recover and that is why altcoins are referred to as gambling,  you can't rely on them and as a matter of fact, investing in altcoins should be done with a predetermined mindset that anything can happen and the investment could visibly become zero.


This is why altcoins are not suitable for long-term purposes because their markets are highly unpredictable and for sure not suitable for long-term holding.

Actually not all altcoins are not suitable but indeed for the long term the risk is big,
for long term stay top coin is still a viable and safer option,
The most important thing is to always do your research before investing.

[Abiky]

Is anyone buying these lows?

I am waiting for 10 cents before I buy again - if it doesn't fall that low I will just hold what I have till 2025 and hope it recovers.

Demand for ALGO is low compared to other leading coins such as BNB and ADA. I highly doubt people are buying, especially when they're only following the hype. The competition is stiff these days, so Algorand developers would need to bring something new to the table if they want to gather the attention of mainstream investors and traders alike. It's likely the crypto market will turn bullish by 2025, making it extremely-likely for ALGO to soar towards new heights.

What matters is the utility of the cryptocurrency instead of its price. If it's useful, it will retain its value for a long time. Otherwise, it will fade away into oblivion until it becomes history. No one can predict the future, so let's hope for the best. Just my thoughts

[darewaller]

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

It is currently at its lowest price in 3 years and almost at its all time low.

The SEC labelling it a security has put a lot of fear into everyone.

Does it have a future or is it over?

In my opinion, the current situation has indeed made cryptocurrency prices fall, including the price of Algorand, but as long as Algorand still has a progress, then of course Algorand can still recover and increase again, so if you really feel that Algorand has progress and still active, then you don't need to worry, so you need to keep holding and doing DCA Algorand to be able to get profits quickly.

Please don't tell me it was the bear you are thinking? But we are almost out of it. As of now, any strong crypto can be able to rise on its own but I don't see that Algorand is among with it. And If its true, then it was already being talked about everywhere. Still, I don't think Algorand is dying.

Maybe it's true that it still has some progress. That was enough already to get qualified for the next bull run. He thinks everything is over for Algorand but why would he decide to HODL it then? That would only lead him for more losses. It would be better if we just sell the coin so that we can still get something. At least, we are not a total loser.

[Yudhisthir]

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

It is currently at its lowest price in 3 years and almost at its all time low.

The SEC labelling it a security has put a lot of fear into everyone.

Does it have a future or is it over?

I think the coin is good as dead. The coin without much success is having obstacles and hurdles on every step.
There are 100s of alternatives that are trying to achieve what algorand is trying to. The motto are a bit different like algorand claims to bridge the gap between traditional and futurefi but every of side chain platform are trying to do the same. The war is of recognition, speed, fees and adoption. And with its years lost without much adoption, there's no way it would be able to compete with popular utility coins now and any potential competitor that may be introduced in future.

[Abiky]

I think the coin is good as dead. The coin without much success is having obstacles and hurdles on every step.
There are 100s of alternatives that are trying to achieve what algorand is trying to. The motto are a bit different like algorand claims to bridge the gap between traditional and futurefi but every of side chain platform are trying to do the same. The war is of recognition, speed, fees and adoption. And with its years lost without much adoption, there's no way it would be able to compete with popular utility coins now and any potential competitor that may be introduced in future.

You're right about that, mate. Coins with smart contract features usually get a lot of attention, but that's not the case with Algorand these days. I think the project is slowly dying. Developers need to come up with something new to help attract the masses into the project. With strong marketing/promotion, ALGO could make a comeback. I really hope it does, considering that the project has a huge of potential to disrupt the Web3 industry.

I like how fast and cheap it is compared to other Blockchain platforms. We might need to wait until the next bull run to see what happens. Who knows how much ALGO will be worth in the future? Just my opinion

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[ThemFloo]

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

It is currently at its lowest price in 3 years and almost at its all time low.

The SEC labelling it a security has put a lot of fear into everyone.

Does it have a future or is it over?

The coin problem is almost the same.
best if you want to buy it maybe this is an opportunity.
But if you doubt it's best not to, especially if you observe the movement for 3 years.
If you are still curious for the future we can inves but with a small amount.
actually the coin movement is unpredictable even though there has been no movement for years but it could suddenly increase very far from expectations.

[JamesDaniel90]

Algorand is showing good signs going into this coming bull run.

I bought quite a bit at the bottom in September but wish I bought more.

I am happy I held though as i can see this reaching $4-5 in bull run

[Abiky]

Algorand is showing good signs going into this coming bull run.

I bought quite a bit at the bottom in September but wish I bought more.

I am happy I held though as i can see this reaching $4-5 in bull run

I love your enthusiasm, but the truth is there's not much to Algorand than "meets the eye". The competition is getting fierce each day, with new projects bringing innovative approaches to scaling. Aptos, Solana, Polygon, Sui, and even Avalanche have proven to be superior than Algorand in terms of tech and mainstream adoption. These competitors also have a bigger ecosystem of dApps, tokens, and services.

If Algorand wants to take off, developers are going to need to come up with something that will "blow away" the entire crypto/Blockchain industry. Otherwise, I'm afraid Algorand's market price will continue to decline until it becomes history. Not even a bullish market will save it. Who knows what surprises we'll find in the future? 

[JamesDaniel90]

Algorand is showing good signs going into this coming bull run.

I bought quite a bit at the bottom in September but wish I bought more.

I am happy I held though as i can see this reaching $4-5 in bull run

I love your enthusiasm, but the truth is there's not much to Algorand than "meets the eye". The competition is getting fierce each day, with new projects bringing innovative approaches to scaling. Aptos, Solana, Polygon, Sui, and even Avalanche have proven to be superior than Algorand in terms of tech and mainstream adoption. These competitors also have a bigger ecosystem of dApps, tokens, and services.

If Algorand wants to take off, developers are going to need to come up with something that will "blow away" the entire crypto/Blockchain industry. Otherwise, I'm afraid Algorand's market price will continue to decline until it becomes history. Not even a bullish market will save it. Who knows what surprises we'll find in the future? 

Lets see, I still believe in Algorand.

It hit a low of 9 cents in October, hit 24 cents last month and has been consolidating at 17 cents since.

Bull run is almost here and I will be happy with $3.

[DeathAngel]

The SEC says a lot of things are securities. It doesn’t mean that you can’t make handsome profit though. I don’t think Algorand is going to change the world & become like Bitcoin for example but you could absolutely still do well in it. It’s a pure proof of stake smart contract blockchain & we have seen growth in its ecosystem. While it has some unique features like accessible staking and low transaction fees it faces challenges such as centralisation & tokenomics. It's too early to definitively say if it has a big future but patient investors can find opportunities in its long term growth. Some people say it’s promising due to its technology, I would consider it a good buy but maybe not a super long term HODL.

[JamesDaniel90]

The SEC says a lot of things are securities. It doesn’t mean that you can’t make handsome profit though. I don’t think Algorand is going to change the world & become like Bitcoin for example but you could absolutely still do well in it. It’s a pure proof of stake smart contract blockchain & we have seen growth in its ecosystem. While it has some unique features like accessible staking and low transaction fees it faces challenges such as centralisation & tokenomics. It's too early to definitively say if it has a big future but patient investors can find opportunities in its long term growth. Some people say it’s promising due to its technology, I would consider it a good buy but maybe not a super long term HODL.

I am planning to sell this bull run , the technology is great.

I will start selling around $2 and just hope it can reach $4-5 at the peak of the bull run.

[Abiky]

The SEC says a lot of things are securities. It doesn’t mean that you can’t make handsome profit though. I don’t think Algorand is going to change the world & become like Bitcoin for example but you could absolutely still do well in it. It’s a pure proof of stake smart contract blockchain & we have seen growth in its ecosystem. While it has some unique features like accessible staking and low transaction fees it faces challenges such as centralisation & tokenomics. It's too early to definitively say if it has a big future but patient investors can find opportunities in its long term growth. Some people say it’s promising due to its technology, I would consider it a good buy but maybe not a super long term HODL.

Of course. SEC chairman Gary Gensler believes most cryptocurrencies are securities. Either he doesn't truly understand how crypto/Blockchain tech works, or he is just pretending to minimize the growth of the industry as much as possible. Approving spot Bitcoin ETFs was a "miracle", considering how the regulatory agency kept denying applications for years.

Algorand could have a place in crypto land if it delivers as promised. But if there's no innovation, don't expect it to stand up against well-established players (ETH, SOL, BNB) with a huge number of supporters behind them. The market often behaves in many strange and bizarre ways, so anything's possible. Who knows how far will Algorand go?