New FIFA NFT Increases Algorand Raise

Cryptocurrencies remain on hiatus ahead of the Fed’s decision tomorrow. Bitcoin is consolidating at about $19,300, Ethereum has about $1,350 per token. However, the price of the cryptocurrency Algorand, which is one of the sponsors of the emerging world, has risen in recent days, bloody for cryptocurrency valuations:

  • Algorand is a cryptocurrency that benefited from a portion of the $600 million in funding created by the Temasek and BlackRock funds. He is also a partner in the fintech company Circle, which creates the USDC stablecoin. Circle has also been supported by BlackRock several times.
  • Algorand was part of a small group of cryptocurrencies that were members of a digital asset fund, the construction of which was also initiated by BlackRock. All this, along with the latest partnerships from BlackRock, Coinbase and Kraken, creates a web of cryptocurrency ties to the world’s largest investment fund, of which Algorand is a part.
  • Algorand takes advantage of decarbonization contributions and grants to support tree planting to capitalize on institutions’ efforts to implement ESG.
  • Last week, the network underwent an upgrade that allows it to process 6,000 transactions per second for a fee of 1/100th of the cryptocurrency’s value (about $0.033).
  • The cryptocurrency is one of the main sponsors of the FIFA World Cup in Qatar, as part of which it has created a unique NFT collection. The collection is gaining popularity for the most popular sports game among gamers, FIFA 23. Algorand’s price has been gaining momentum since NFT has become hugely popular.
  • Algorand is one of the few cryptocurrencies that is fully compliant with the new ISO20022 interbank settlement standard. Other projects include IOTA, Ripple and Stellar. Banks have until the end of November to test solutions related to the new ISO, which could lead to the growing popularity of these tokens. ISO20022 is expected to be fully implemented by 2025, originally planned for 2022, as the pandemic has extended the transition process.
  • The main goal of Algorand is to ensure the integration of financial assets in the blockchain and tokenization industry, which, if implemented effectively (migration of thousands of projects and companies in the blockchain industry), has been described by Blockworks analysts as a $18 trillion market. The project currently collaborates with more than 500 institutions worldwide.
  • Staci Warden, who has experience at the US Treasury Department and NASDAQ, among others, has become the new CEO of the Algorand Foundation. She was also a director at JP Morgan for eight years.
  • Algorand has reported “intellectual collaborations” with the Massachusetts Institute of Technology and UC Berkeley in the past. Based on the above, it can be concluded that Wall Street can rate the project favorably.

algorithm H4 interval. The price was up close to 30% in several days and was above the 200-session average at $0.30. For several days, Algorand has been above the SMA200, which continues to set the main trend. However, the RSI is indicating levels close to overbought, which has historically signaled an imminent correction. Source: xStation5

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