{"id":503691,"date":"2022-09-26T13:24:44","date_gmt":"2022-09-26T13:24:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=503691"},"modified":"2022-09-26T13:24:44","modified_gmt":"2022-09-26T13:24:44","slug":"algorand-up-nearly-30-in-last-7-days","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/algorand-algo\/algorand-up-nearly-30-in-last-7-days\/","title":{"rendered":"Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days"},"content":{"rendered":"

In only the past week, ALGO has grown by a whopping 30%. Some may not be surprised by this development, as Algorand collaborated with FIFA to create FIFA+ Collect, a platform where fans can buy digital collectibles in the form of NFTs. There has been a dramatic impact on the environment as a result of\u00a0this alliance.<\/p>\n

A tweet from @intotheblack\u00a0shows that the number of unique addresses that have completed their first transaction for ALGO has increased from 5,000 to 20,000.<\/p>\n

There has been an increase in the cost of ALGO because\u00a0to the increased number of transactions using unique addresses. As of this writing, the price of one coin is somewhere between the 23.60 and 38.20 Fibonacci retracement levels, or about $0.3949 and $0.3724.<\/p>\n

There is no denying the ripple impact that this collaboration has on all of Algorand. But will the agreement lead to additional price increases, or is this simply a temporary boost?<\/p>\n

\"\"<\/p>\n

Image: NFTgators<\/pre>\n

ALGO Gets Boost From FIFA+ Collect<\/strong><\/h2>\n

The price of ALGO increased by 31.18% in a matter of hours on the press day of the FIFA+ Collect release. To sum up, the coin is up 27.54% from September 22nd when trading began till today, September 26th.<\/p>\n

As of this writing, ALGO is trading at $0.3662<\/a>, down 5.8 percent in the last 24 hours, data from Coingecko show, Monday<\/p>\n

Information provided by Santiment suggests that the cooperation has an impact beyond only the pricing.<\/p>\n

Algorand’s NFT sector has witnessed a dramatic increase in activity. From September 21 to September 22, the total volume of NFT trades surged from $186,000 to a staggering $606,000.<\/p>\n

Related Reading: Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit<\/a><\/div>\n

This is not the only positive development for the ALGO token and the Algorand ecosystem in general.<\/p>\n

The TVL of ALGO observed an increase in staked tokens. From September 22-24,\u00a0the TVL increased from $234\u00a0million to $263.69 million. The Algorand ecosystem also had a significant overhaul.<\/p>\n

Additionally, the ecosystem implemented the State Proof procedure. This version provides an additional layer of protection against quantum threats and enables the development of “decentralized bridges” to connect Algorand to other blockchains.<\/p>\n

ALGO Bullish Momentum Subsiding?<\/strong><\/h2>\n

At the time of writing, the coin’s price has already reached\u00a0above the double-bottom support level at $0.3687.<\/p>\n

This may indicate that the bullish momentum has waned and the bears are currently taking the driver’s seat.<\/p>\n

Considering this, ALGO\u00a0can fall to a relatively secure position near the 50 Fib level. This level will serve as the token’s support. However, it cannot fall below the indicated Fibonacci level, as this would indicate a bottom on September 22.<\/p>\n

Related Reading: Dogecoin (DOGE) Is On Top Of Whales\u2019 Menu \u2013 Here\u2019s Why<\/a><\/div>\n

<\/p>\n

ALGO total market cap at $2.25 billion on the daily chart | Source: TradingView.com<\/a>\r\n\r\nFeatured image from Forkast, Chart: TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"

In only the past week, ALGO has grown by a whopping 30%. Some may not be surprised by this development, as Algorand collaborated with FIFA to create FIFA+ Collect, a platform where fans can buy digital collectibles in the form of NFTs. There has been a dramatic impact on the environment as a result of\u00a0this alliance. A tweet from @intotheblack\u00a0shows that the number of unique addresses that have completed their first transaction for ALGO has increased from 5,000 to 20,000. There has been an increase in the cost of ALGO because\u00a0to the increased number of transactions using unique addresses. As of this writing, the price of one coin is somewhere between the 23.60 and 38.20 Fibonacci retracement levels, or about $0.3949 and $0.3724. There is no denying the ripple impact that this collaboration has on all of Algorand. But will the agreement lead to additional price increases, or is this simply a temporary boost? Image: NFTgators ALGO Gets Boost From FIFA+ Collect The price of ALGO increased by 31.18% in a matter of hours on the press day of the FIFA+ Collect release. To sum up, the coin is up 27.54% from September 22nd when trading began till today, September 26th. As of this writing, ALGO is trading at $0.3662, down 5.8 percent in the last 24 hours, data from Coingecko show, Monday Information provided by Santiment suggests that the cooperation has an impact beyond only the pricing. Algorand’s NFT sector has witnessed a dramatic increase in activity. From September 21 to September 22, the total volume of NFT trades surged from $186,000 to a staggering $606,000. Related Reading: Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit This is not the only positive development for the ALGO token and the Algorand ecosystem in general. The TVL of ALGO observed an increase in staked tokens. From September 22-24,\u00a0the TVL increased from $234\u00a0million to $263.69 million. The Algorand ecosystem also had a significant overhaul. Additionally, the ecosystem implemented the State Proof procedure. This version provides an additional layer of protection against quantum threats and enables the development of “decentralized bridges” to connect Algorand to other blockchains. ALGO Bullish Momentum Subsiding? At the time of writing, the coin’s price has already reached\u00a0above the double-bottom support level at $0.3687. This may indicate that the bullish momentum has waned and the bears are currently taking the driver’s seat. Considering this, ALGO\u00a0can fall to a relatively secure position near the 50 Fib level. This level will serve as the token’s support. However, it cannot fall below the indicated Fibonacci level, as this would indicate a bottom on September 22. Related Reading: Dogecoin (DOGE) Is On Top Of Whales\u2019 Menu \u2013 Here\u2019s Why ALGO total market cap at $2.25 billion on the daily chart | Source: TradingView.com Featured image from Forkast, Chart: TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":503696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85658,3],"tags":[71760,71759,1558,86837,86974],"class_list":["post-503691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-algorand-algo","category-news","tag-algo","tag-algorand","tag-cryptocurrency","tag-cryptonews","tag-tags-fifa-collect"],"acf":[],"yoast_head":"\nAlgorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days<\/title>\n<meta name=\"description\" content=\"In only the past week, ALGO has grown by a whopping 30%. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days","url":"http:\/\/ktsl888.com\/news\/algorand-algo\/algorand-up-nearly-30-in-last-7-days\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/algorand-algo\/algorand-up-nearly-30-in-last-7-days\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/Algorand-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/Algorand-1.png?fit=943%2C529"},"articleSection":"Algorand","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["algo","algorand","cryptocurrency","cryptonews","tags: fifa collect"],"dateCreated":"2022-09-26T13:24:44Z","datePublished":"2022-09-26T13:24:44Z","dateModified":"2022-09-26T13:24:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/algorand-algo\\\/algorand-up-nearly-30-in-last-7-days\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/algorand-algo\\\/algorand-up-nearly-30-in-last-7-days\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Algorand-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Algorand-1.png?fit=943%2C529\"},\"articleSection\":\"Algorand\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"algo\",\"algorand\",\"cryptocurrency\",\"cryptonews\",\"tags: fifa collect\"],\"dateCreated\":\"2022-09-26T13:24:44Z\",\"datePublished\":\"2022-09-26T13:24:44Z\",\"dateModified\":\"2022-09-26T13:24:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/Algorand-1.png?fit=943%2C529","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/503691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=503691"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/503691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/503696"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=503691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=503691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=503691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}