Analysts expect Algotech to beat Cardano price forecast in 2024

As Algotech (ALGT) gains momentum in the DeFi space, analysts speculate it might surpass Cardano (ADA) in 2024 price forecasts, backed by its unique approach to algorithmic trading and growing investor support.

The early months of 2024 have seen interesting projects gain momentum. One of the new entrants making waves is Algotech (ALGT), an algorithmic trading solution in the DeFi space. Algotech’s momentum has generated speculations about its potential to outshine established projects like Cardano (ADA) in terms of price forecast.

Algotech emerges as a leading contender

Algotech makes a public introduction as a leading presence in algorithmic trading. Its primary goal is not just the creation of advanced automation trading tools but its accessibility to everyone. Using blockchain technology, Algotech democratizes algorithmic trading and levels the long mountain of barriers that kept it out of reach to retail traders. 

Algotech has proprietary algorithmic trading software with a robust infrastructure that provides optimum capital security and gives users full control over their investments. 

Algotech’s platform provides a gallery of sophisticated trading tools and advanced strategies that can be accessed by any trader and automated in any market condition. Strategies like mean reversion, momentum trading, breakout trading, and arbitraging are some of the available options for starters. 

Analysts could also be bullish on Algotech because of its robust technological foundation: a combination of blockchain, artificial intelligence, and machine learning. 

ALGT’s road to going live  

Algotech came on the scene in late 2023. From then till now, ALGT has undergone two fruitful investment rounds. The first was a private seed-raising round that happened in February 2024, where $1.1 million was raised in 48 hours, showing strong investors’ interest. This was shortly followed up with a stage one presale of ALGT at $0.04 that went on to generate $1.7 million in a couple of days. 

ALGT is currently in its stage two presale and is selling for $0.06. The total investment generated was above $3.2 million as of the time of writing, and there was still about 10% of the total ALGT for presale two to go. ALGT promises to go live with a $0.15 tag.

A broader look at the landscape 

Cardano’s journey has had an unquestionable impact on the cryptocurrency market, as well as high points and difficult troughs. Despite having a robust infrastructure to be dubbed as an “Ethereum killer,” Cardano has suffered from a slow development momentum that often casts doubt on the project’s ability to compete on a large scale. 

Cardano has come a long way from its debut price at $0.0024 in 2017 and is now trading at $0.6500 as of the time of writing, recording a 26,983.33% growth in 7 years. While that percentage growth might look impressive, analysts compare that to the presale price of ALGT, already at $0.06, possibly moving to $0.08 in the next presale stage and going live at an estimated price of $0.15. 

Considering the growing wave of the algorithmic trading industry and the already established investor support ALGT has been enjoying, analysts predict ALGT could get to $2 before ADA.

To learn more about Algotech, visit the Algotech presale website or join the Algotech community.