Algorand is a leading blockchain project that seeks to become the most environmentally-friendly platforms in the world. It is a smart-contract chain that utilizes the Algorand Virtual Machine, (AVM), which offers many possibilities for scaling up and accelerating projects. According to its website, Algorand can handle over 1,000 transactions per second (tps).

Algorand price performance

Algorand is ranked as the largest smart contract platform in the world. It has a market capitalization totaling over $4.7 billion, according to CoinGecko. Like most digital coins, ALGO has not had a good year as its price has crashed by more than 60%. It has also declined by over 77% from its all-time high and is trading near its lowest level since February 2021.

There are many reasons why Algorand’s price has fallen in recent months. There are significant risks that the Federal Reserve may adopt a more hawkish tone. The bank has already implemented two rate increases.

The most recent rate hike that happened in May was a whopping 0.50%. The bank decided to keep increasing interest rates and implement quantitative tightening measures. Algorand and other cryptocurrencies have historically underperformed during periods of high interest rates.

Second, Algorand has struggled due to the growing competition and the smaller ecosystem than its peers. Algorand is up against some of the most formidable competitors: Cronos, Solana and Cardano. These networks have a total valued locked (TVL), of billions. Algorand, however, has a much smaller one.

With this in mind let’s take a look at the top reasons Algorand makes a great investment.

Algorand’s World Cup exposure

World Cup has been viewed by billions worldwide and is the most watched sporting event in the world. Recent data indicates that the final between France & Croatia attracted over 1.1 billion viewers. This is an impressive number, considering the fact that there are more than 8 billion people in the world. The World Cup is also watched more than Formula 1 or Super Bowl.

In May 2022, Algorand announced that it had signed a deal with FIFA to become a major sponsor of the World Cup. Its logo will now be seen by millions around the globe. FIFA will also use Algorand technology to create blockchain initiatives such as Non-Fungible Tokens.

We believe that the Algorand market will see a steady rise during and after the World Cup. As more people buy the coin during matches, this will occur.

However this may be a positive catalyst, it’s worth noting that most cryptocurrencies that have been featured in events have experienced a temporary increase. Cronos, formerly known as Crypto.com Coin saw a mode gain after the sponsorship of Super Bowl.

Its expanding ecosystem

Algorand is a good investment because of its growing ecosystem across the board. Algorand, like Avalanche and Solana, has been adopted by many developers. These creators have built applications across all industries, including Automated Market Makers and Analytics (AMM), decentralized autonomous organizations, DEX, governance oracles, NFTs, DEX, analytics, analytics, DEX, DEX, DEX, DEX, governance, and governance.

The Algorand app catalog has grown rapidly over the last few months. AlgoFund and AlgoLaunch are some of the most well-known blockchain platforms. These projects are still in their infancy but there is every chance that they will grow over the next few years.

It’s a proof-of stake platform

The other reason the Algorand prices will continue to do well is because they were built using a pure Proof-of-Stake consensus (PPoS). This protocol allows new coins to be created by the use of validators. This is different from proof-of-work, which allows coins created by solving complicated mathematical problems.

Proof of stake is a better way to go, which is why Ethereum is moving from its PoW platform into PoS.

Algorand is a PoS platform with many benefits. It allows investors to make a profit by holding the coin. This process, known as staking, allows people to earn as much as 12% APY. Algoran is also significantly faster. It can handle over 1,000 transactions per second, while Ethereum can only handle less than 20.

Further Algorand’s PoS program helps ensure it is climate-friendly. ClimateTrade is used to offset the platform’s carbon footprint. Companies that want to reduce their carbon footprints often use ClimateTrade.

Algorand can be found all over

Further is a common service offered by brokers and exchanges. It can be found on major centralized exchanges such as Binance, Crypto.com and Coinbase. These exchanges are among the most popular in the world. It is also possible to trade Algorand on leading decentralized exchanges such as Uniswap or PancakeSwap.

Learn more about how to trade cryptocurrency.

Algorand is home to a strong community

Algorand is home to one of the largest communities in the blockchain industry. Its main Twitter account has over 250,000 followers, which is higher than most cryptocurrencies. It also has millions upon millions of wallets, as a closer inspection of its network reveals. At the same time, Algorand has launched a $250 million grants program to incentivize developers.