{"id":232046,"date":"2022-05-04T15:30:39","date_gmt":"2022-05-04T10:00:39","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=232046"},"modified":"2022-05-04T14:55:15","modified_gmt":"2022-05-04T09:25:15","slug":"reasons-why-algorand-algo-traders-shouldnt-be-disappointed","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/reasons-why-algorand-algo-traders-shouldnt-be-disappointed\/","title":{"rendered":"Reasons why Algorand [ALGO] traders shouldn&#8217;t be disappointed in short-term"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">FIFA announced Algorand as its new official sponsor. <\/span><span style=\"font-weight: 400;\">The token had been struggling to get rid of bears, however, now it&#8217;s being anticipated that the announcement might help ALGO in ways more than one.<\/span><\/p>\n<h3><strong>History in the making?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Mainstream adoption is possible only through partnerships with popular mainstream companies or brands. But crypto found its way through sports partnerships and made it big in a very short frame of time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The latest recipient of the same is Algorand which has teamed up with FIFA to agree on a sponsorship and technical partnership deal. With this deal, Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: <a href=\"https:\/\/twitter.com\/FIFAcom?ref_src=twsrc%5Etfw\">@FIFAcom<\/a> has announced <a href=\"https:\/\/twitter.com\/hashtag\/Algorand?src=hash&amp;ref_src=twsrc%5Etfw\">#Algorand<\/a> will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more \ud83d\udc49 <a href=\"https:\/\/t.co\/LTTUqGNLNA\">https:\/\/t.co\/LTTUqGNLNA<\/a> <a href=\"https:\/\/twitter.com\/FIFAWorldCup?ref_src=twsrc%5Etfw\">@FIFAWorldCup<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/FIFAWorldCup?src=hash&amp;ref_src=twsrc%5Etfw\">#FIFAWorldCup<\/a> <a href=\"https:\/\/t.co\/LuEFTY3WK6\">pic.twitter.com\/LuEFTY3WK6<\/a><\/p>\n<p>&mdash; Algorand Technologies (@Algorand) <a href=\"https:\/\/twitter.com\/Algorand\/status\/1521266776276803585?ref_src=twsrc%5Etfw\">May 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">In addition to this, the blockchain will also be a regional supporter in North America and Europe and a FIFA Women\u2019s World Cup Australia and New Zealand 2023 official sponsor.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The announcement of this deal came just at the right time as less than 72 hours ago from 3 May, ALGO was trading at a 15-month low of $0.56. Since then, ALGO rose by 7% in two days. Fuelled by the deal, on 3 May, ALGO shot up by 14%, even touching 23% at one point.<\/span><\/p>\n<figure id=\"attachment_232047\" aria-describedby=\"caption-attachment-232047\" style=\"width: 1834px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11.png\"><img decoding=\"async\" class=\"wp-image-232047 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11.png\" alt=\"\" width=\"1834\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11.png 1834w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11-1024x484.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11-768x363.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ALGOUSD_2022-05-03_17-02-11-1536x726.png 1536w\" sizes=\"(max-width: 1834px) 100vw, 1834px\" \/><\/a><figcaption id=\"caption-attachment-232047\" class=\"wp-caption-text\"><em> Algorand price action <\/em> | Source: <a href=\"http:\/\/ambcrypto.com\/\">TradingView &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This news will help the ALGO holders significantly to get out of the losses they have facing for quite some time. Of the 11.7 million addresses which hold ALGO in their wallet, about 96.6% of them (11.36 million) are suffering losses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Barely 3% of them are doing good, but these 353k investors are not enough to imbue unconditional, never-ending optimism in the other 96%.<\/span><\/p>\n<figure id=\"attachment_232049\" aria-describedby=\"caption-attachment-232049\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_historical_in_out_of_the_money_2022-05-03T11_32_51.977Z.png\"><img decoding=\"async\" class=\"wp-image-232049 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_historical_in_out_of_the_money_2022-05-03T11_32_51.977Z.png\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_historical_in_out_of_the_money_2022-05-03T11_32_51.977Z.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_historical_in_out_of_the_money_2022-05-03T11_32_51.977Z-300x200.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_historical_in_out_of_the_money_2022-05-03T11_32_51.977Z-1024x683.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_historical_in_out_of_the_money_2022-05-03T11_32_51.977Z-768x512.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-232049\" class=\"wp-caption-text\"><em> Algorand investors in loss <\/em> | Source: <a href=\"https:\/\/app.intotheblock.com\/\">Intotheblock &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This is why more investors are looking to sell their ALGO holdings. Investors don&#8217;t look interested in buying ALGO right now. In fact, sell orders in the market exceeded the buy orders by almost one million ALGO.<\/span><\/p>\n<figure id=\"attachment_232048\" aria-describedby=\"caption-attachment-232048\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_exchange_onchain_market_depth_2022-05-03T11_32_16.664Z.png\"><img decoding=\"async\" class=\"wp-image-232048 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_exchange_onchain_market_depth_2022-05-03T11_32_16.664Z.png\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_exchange_onchain_market_depth_2022-05-03T11_32_16.664Z.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_exchange_onchain_market_depth_2022-05-03T11_32_16.664Z-300x200.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_exchange_onchain_market_depth_2022-05-03T11_32_16.664Z-1024x683.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/ITB_algo_exchange_onchain_market_depth_2022-05-03T11_32_16.664Z-768x512.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-232048\" class=\"wp-caption-text\"><em> Algorand buy and sell orders <\/em> | Source: <a href=\"https:\/\/app.intotheblock.com\/\">Intotheblock &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, eventually, Algorand can observe rising investors&#8217; interest in the coming days because of its growing popularity. Owing to the FIFA deal, the network is dominating the social channels, commanding 2.6% of the crypto traffic.<\/span><\/p>\n<figure id=\"attachment_232051\" aria-describedby=\"caption-attachment-232051\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022.png\"><img decoding=\"async\" class=\"wp-image-232051 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022.png 3840w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/05\/Algorand-ALGO-17.01.43-03-May-2022-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-232051\" class=\"wp-caption-text\"><em> Algorand sentiment <\/em> | Source: <a href=\"https:\/\/app.santiment.net\/\">Santiment &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>FIFA announced Algorand as its new official sponsor. The token had been struggling to get rid of bears, however, now it&#8217;s being anticipated that the announcement might help ALGO in ways more than one. History in the making? Mainstream adoption is possible only through partnerships with popular mainstream companies or brands. But crypto found its<a href=\"https:\/\/ambcrypto.com\/reasons-why-algorand-algo-traders-shouldnt-be-disappointed\/\">Continue reading <span class=\"sr-only\">&#8220;Reasons why Algorand [ALGO] traders shouldn&#8217;t be disappointed in short-term&#8221;<\/span><\/a><\/p>\n","protected":false},"author":43,"featured_media":232050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-232046","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Reasons why Algorand [ALGO] traders shouldn&#039;t be disappointed in short-term - AMBCrypto<\/title>\n<meta name=\"description\" content=\"FIFA announced Algorand as its new official sponsor. 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