Over the past week, the price of Algorand (ALGO) has surged 31%, driven by its recent partnership with FIFA, the world’s most recognized and distinguished football organization.
ALGO, the native cryptocurrency of the Algorand blockchain, is trading at $0,77 per unit, after experiencing an increase of more than 31% in the last week, driven by its recent partnership with the Fédération Internationale de Football Association (FIFA).
Thanks to this alliance, Algorand (ALGO) is taking center stage in the crypto industry as the cryptocurrency with the highest weekly growth in the entire market.
Source: CoinMarketCap
ALGO, whose blockchain was designed to support the next generation of finance and NFTs, offering a high level of scalability and security to its users, ranks #23 among the largest cryptocurrencies by market cap, with a total value of $5.230 billion.
It may interest you: Algorand will become the official FIFA blockchain
Algorand, official blockchain of FIFA
Earlier this month, football organization FIFA announced that the Algorand blockchain would become its official blockchain platform, in a move to empower its community with the innovation of new technologies.
As reported by Bit2Me News, FIFA President Gianni Infantino announced the agreement with Algorand in Los Angeles (United States) alongside Silvio Micali, founder of the blockchain, highlighting that the sustainability of this blockchain will help them offer cutting-edge blockchain services and solutions.
The partnership with FIFA has made Algorand a regional sponsor of the 2022 World Cup in Qatar, to be held in the fourth quarter of this year on the Arabian Peninsula.
Partnership with Australia Zoo
In addition to partnering with FIFA, Algorand has also become the home of Australia Zoo NFTs, world-renowned as the home of crocodile hunter Steve Irwin.
The Australian Zoo will launch a collection of NFTs on the negative-emitting blockchain to raise awareness and funds to protect Australia's wildlife and wild places.
Algorand transaction numbers grow 200% in the last week
The number of transactions on Algorand (ALGO) has skyrocketed over the past week, following the announcement of major partnerships with the blockchain. Currently, there are more than 80.750 transactions taking place on the blockchain per day, according to the Algoexplorer block explorer.
Source: Algoexplorer
Another interesting fact that Algorand's block explorer shows is that, despite the increase in the price of its cryptocurrency and greater demand on the network, the commission fee remains accessible to all its users. According to the explorer, the average commission fee for Algorand is $0,00075 per transaction.
The number of active unique accounts created on the blockchain has also surpassed 25 million. In the last 24 hours alone, more than 200.000 new accounts have been created within the Algorand ecosystem.
Towards mass adoption of blockchain
The data reveals the growing interest and demand that exists in the world for scalable and environmentally sustainable blockchain ecosystems.
On his Twitter account, blockchain consultant Michael Jordan noted that, with its potential, this blockchain will build the future of finance, attracting billions of users around the world to drive mass adoption of blockchain technology.
Continue reading: The Vatican creates an NFT gallery to democratize art
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