### #altcoinsByZeusInCrypto binance Investors Seek Higher Returns and New Ventures

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Altcoin investors are always on the lookout for higher returns and new opportunities. Sometimes they succeed, but other times they wait for years without seeing the desired profits. Today, we're focusing on an altcoin that could rise to $0.229 in June.

#### $ALGO Price Commentary

Bitcoin's price has surged above $70,000, boosting activity in altcoins. Many cryptocurrencies are gaining value, and this positive trend seems to be preparing for new highs, especially with the ETH ETF launch on the horizon. So, what’s the current status of Algorand (ALGO)?

Data from IntoTheBlock shows that only 9.39% of ALGO investors are currently making a profit. A few weeks ago, this rate was above 90% for FLOKI Coin and even higher for other altcoins at their all-time highs. For ALGO, with profitability below 10%, the price might be attractive for buying.

Interestingly, 88.40% of ALGO investors are still holding their coins despite not being profitable. The average holding period for investors is 11 months, which is longer than for altcoins like Avalanche. It's nearly as long as Cardano, known for its “buy and hold” strategy, which has a 12-month average holding period.

#### ALGO Coin Price Prediction

About 20% of ALGO’s supply is held by whales, a rate that has increased by around 1% since May. The number of daily active addresses is over 54,000, which is impressive compared to Avalanche and Dogecoin. Transaction activity on the Algorand network is also trending positively.

Since the end of last year, daily transactions have doubled to 1.36 million. Most of these transactions are valued at less than $1, likely due to applications utilizing Algorand's low-cost fees.

From a technical analysis perspective, ALGO’s price has been between $0.200 and $0.169 since late April. A breakout above $0.2 could spark a rally towards $0.229,