At this point, Algorand appears to be both technically and commercially positioned to be a success in the blockchain space. This is one project that deserves attention going forward in my opinion especially as I know it has the attention of a few big whales who are accumulating this coin during this bear market.
I think if you’re prepared to hold this coin for the long term the rewards from passive income via its staking element is another big incentive to press the buy button also, even if their new system for staking via the governance rewards program is no way near as flexible or noob friendly as its old one used to be.
If you have substantial capital and are looking for long term holds to DCA into then I think ALGO is one of the more secure bets in the market to allocate funds to especially when compared to some of newer L1 projects out there.
During my time trading this coin over the last couple of years, I've noticed a recurring pattern where it tends to retrace most of its gains after experiencing significant rallies. Hence, despite its much improved fundamentals, its price remains at levels similar to those of 2019. Whether or not ALGO will eventually break this pattern and experience a healthy correction of 50-65% after a sustained rally and then continue its rise remains to be seen. Given this characteristic of the coin, I'm giving it a 4-star buy rating instead of 5-stars, as I generally prefer to see higher lows on my chart over a longer time frame when a project's fundamentals are improving. Show Less
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