As part of the agreement, Algorand will represent FIFA as its official blockchain platform and will provide its official blockchain-supported wallet service. As a result of the agreement, Algorand became the official blockchain partner of the International Soccer Federation. ALGO has recently signed a contract with FIFA.

The World Cup Excitement to Underpin ALGO PriceĪs previously stated, the Algorand price was steadily rising in recent days as investors’ confidence in the ALGO network has been boosted by anticipation of the World Cup. CoinMarketCap now ranks #27, with a live market cap of $2.3 billion. In the previous 24 hours, Algorand has dropped 15.71%. The current price of Algorand is $0.3259, with a 24-hour trading volume of $632 million. The cryptocurrency market value has fallen below $1 trillion, breaking a recent trend. This was confirmed after the majority of popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), plummeted yesterday. It should be noted that the global cryptocurrency market failed to sustain its previous upbeat mode and lost momentum amid FTX’s bankruptcy and buyout by Binance news.

Apart from that, the reason for its winning streak could be attributed to the most recent improvement in its network, which significantly increased its speed, among other things.Īlthough, the gains in coin values seem to be fading away as the market’s bearish mood overshadowed its all positive progress and excitement for the coming FIFA World Cup. As a result, the World Cup event excitement has aided ALGO’s pricing as Algorand will be one of the event’s primary sponsors. The coin has been performing quite well in recent days, fueled by the excitement of the upcoming FIFA World Cup, which begins on November 20th and runs through December 18th. Join Our Telegram channel to stay up to date on breaking news coverageĪlgorand price prediction remains bearish, as ALGO has fallen below the 50-day moving average that had been supporting it near $0.3475. Algorand (ALGO) coin has failed to maintain its previous bullish stance and has dropped significantly around the $0.3233 level, most likely as a result of bearish crypto market sentiment, which tends to undermine several cryptocurrencies, including Algorand coin.

Algo coin price prediction