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Angola

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Discover Angola's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Angola?

Angola (AGLA) is a cryptocurrency launched in 2022, operating on the Ethereum platform. It is part of the Angola Project, a social NFT system built on blockchain-based Web3 technology, aiming to become a mainstream NFT platform that ensures creators have full ownership of their works and corrects profit distribution in the digital asset market.

How is Angola used?

Angola (AGLA) is an NFT infrastructure built on blockchain technology. It aims to alter the dynamics of the current NFT market space by improving the way profits are distributed. The platform allows users to turn photos into NFTs and trade them for profits.

How do I store Angola?

To store Angola (AGLA) tokens, you need a digital wallet that supports the blockchain on which AGLA resides. The safest way to store your coins or tokens is by using "Cold Wallets," which are totally offline. You can also use a decentralized exchange (DEX) that supports the blockchain where your Angola tokens are stored.

How to buy Angola?

To buy Angola (AGLA) tokens, you can follow these steps:

  1. Choose a Centralized Exchange (CEX): Select a reputable CEX that supports AGLA trading, such as Gate.io. Ensure the exchange is available in your region and compliant with local regulations.

  2. Register and Verify Your Account: Create an account on the chosen exchange's website or app. Verify your identity and secure your account with two-step verification for added security.

  3. Buy a Base Currency: Use fiat to purchase a base currency like USDT, ETH, or BNB. This can be done through the exchange's OTC trading service or by using a financial service platform like PayPal or Robinhood (for US residents).

  1. Transfer Base Currency: Transfer the purchased base currency to the CEX that supports AGLA trading.

  2. Buy AGLA: Use the transferred base currency to buy AGLA tokens in the spot market. You can set a market price or a desired buy price for the AGLA/USDT pair.

  3. Store or Trade AGLA: Once you have purchased AGLA, you can store it in the exchange's wallet or transfer it to a personal crypto wallet. You can also trade AGLA for other cryptocurrencies on the exchange.

Remember to consult the exchange's customer service and local tax authorities for any specific requirements or restrictions.

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History of Angola

The Angola (AGLA) cryptocurrency is a part of the Angola Project, which aims to create a mainstream NFT platform built on blockchain technology. This platform focuses on enabling users to create NFTs based on their daily lives, ensuring full ownership for creators and correcting profit distribution issues in the digital asset market.

Historically, the price of Angola has experienced significant fluctuations. The all-time high was recorded on February 9, 2023, at $0.4785. However, it has since dropped by 98.34% to its current levels. The all-time low was recorded on June 17, 2024, at $0.007348, with a subsequent increase of 7.95%.

In terms of market capitalization, Angola's current market cap is around $3,771,327, with a circulating supply of 475,450,000 AGLA and a total supply of 3,000,000,000 AGLA. The fully diluted market cap stands at $23,796,366.

The project has been tracked by various sources, including TokenInsight, which provides historical data on the token's price, volume, and market capitalization. Additionally, CoinCodex offers price predictions based on historical movements and BTC halving cycles, estimating a potential rise of 228.04% to $0.590553 by July 19, 2024.

Overall, the Angola Project is focused on creating a decentralized NFT platform, and its cryptocurrency, AGLA, has experienced significant price fluctuations over time.

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How Angola works

The Angola (AGLA) cryptocurrency is a token built on the Ethereum blockchain, following the ERC-20 standard. It is part of the Angola Project, a social NFT system designed to create a mainstream NFT platform where users can create and trade NFTs based on their daily lives. The platform aims to ensure creators have full ownership of their works and corrects unreasonable profit distribution in the conventional digital asset market.

Key Features
  • NFT Creation: Users can turn their photos into NFTs and trade them for profits. This allows creators to monetize their digital assets in a more equitable manner.
  • Token Earning: Users can earn AGLA tokens by completing activities and selling their own NFTs within the platform.
  • Decentralized Trading: AGLA tokens can be traded on decentralized exchanges (DEXs) that support the Ethereum blockchain. This allows for peer-to-peer transactions without the need for intermediaries.
Technical Details
  • Blockchain: Angola operates on the Ethereum blockchain, which provides a secure and decentralized environment for transactions and smart contracts.
  • Token Standard: AGLA tokens follow the ERC-20 standard, ensuring compatibility with a wide range of Ethereum-based wallets and exchanges.
Trading and Investment
  • Market Information: The current market capitalization of Angola is around $3.77 million, with a circulating supply of approximately 475 million AGLA tokens.
  • Price Performance: The all-time high of AGLA was $0.4785, and it has experienced significant price fluctuations since then.
  • Price Prediction: There is no universal consensus on future price movements, but some predictions suggest a potential rise in value.

Overall, Angola (AGLA) is a cryptocurrency that enables users to create, trade, and earn from NFTs in a decentralized environment, with a focus on fair profit distribution and creator ownership.

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Angola's strengths

The token Angola (AGLA) has several strengths that make it an attractive investment opportunity. One of its key strengths is its potential for significant price growth. According to current price predictions, AGLA is expected to rise by 228.04% and reach $0.590553 by July 19, 2024, indicating a strong upward trend. Additionally, the token's long-term price predictions suggest that it could reach as high as $2.238 by 2029, further emphasizing its growth potential.

Another strength of AGLA is its low current market capitalization of $3.77 million, which provides room for expansion and growth. The token's trading volume is also relatively high, with a 24-hour volume of $412,368, indicating a decent level of market activity.

Furthermore, the Angola project is built upon a blockchain-based Web3 creator economy, aiming to become a mainstream NFT platform. This focus on the creator economy and NFTs could provide a unique value proposition and attract users interested in these areas.

Overall, AGLA's strengths lie in its potential for significant price growth, low market capitalization, and its focus on the creator economy and NFTs.

Angola's risks

Angola (AGLA) faces several financial risks that could impact its economic stability and resilience. Key risks include:

  • High Public Debt: Angola's public debt is substantial, with a significant portion being commercial debt. This debt burden absorbs a considerable portion of the country's revenues, making it vulnerable to interest rate fluctuations and repayment obligations.

  • Oil Price Volatility: As the largest oil producer in sub-Saharan Africa, Angola's economy is heavily reliant on oil exports. Fluctuations in global oil prices can significantly impact the country's fiscal position, leading to budget surpluses or deficits.

  • Fragile Banking Sector: The banking sector in Angola is weak, which can limit access to credit and hinder economic growth. This fragility can also make it difficult for the government to implement effective monetary policies.

  • Currency Fluctuations: The Angolan kwanza is susceptible to devaluation, which can lead to higher inflation and reduced purchasing power. This is particularly concerning given the country's reliance on imported goods.

  • Limited Diversification: Despite efforts to diversify the economy, Angola remains heavily dependent on the oil sector. This lack of diversification makes it vulnerable to external shocks and limits opportunities for sustainable growth.

  • High Unemployment and Social Inequalities: Angola faces significant social challenges, including high unemployment and major social inequalities. These issues can lead to political instability and social unrest, further complicating the financial landscape.

  • Infrastructure Deficiencies: The country's infrastructure, including transportation, water supply, and sanitation, is underdeveloped. This can hinder economic growth and increase the cost of doing business in Angola.

  • Corruption and Political Influence: Political influence is prevalent in many areas of the business environment, and corruption remains a significant challenge. This can lead to inefficient allocation of resources and undermine the effectiveness of economic reforms.

These financial risks underscore the need for Angola to continue implementing economic reforms, diversifying its economy, and addressing its infrastructure and social challenges to ensure long-term financial resilience.

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Did Angola raise funds?

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Angola's ecosystem

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Angola’s team

  • Founder and Team Members: The team behind the Angola (AGLA) cryptocurrency includes the founder and other members who are not explicitly named in the provided sources. For more detailed information, you can refer to TokenInsight, which provides information on the team members and founder.

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