Markets are weak, but ALGO, FXS and HNT book a 20%+ rally — Here’s why

Large-cap cryptocurrency continue to slump as investors await comments from the Federal Open Markets Committee regarding the exact size of the next interest rate hike.

There are, however, a few bright spots in the market and select altcoins managed to post double-digit gains in trading on May 3, thanks to a big-time partnership announcement and cross-protocol collaborations that led to a spike in demand.

Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers over the past 24-hours were Algorand (ALGO), Frax Share (FXS) and Helium (HNT).


The pure proof-of-stake blockchain network had, perhaps, one of the most notable partnership deals for a crypto project in recent months after this week’s announcement that it had been selected as the official blockchain of FIFA, the globally recognized international governing body for soccer.

ALGO was…


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