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).
Algorand
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.
BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6
— Algorand (@Algorand) May 2, 2022
ALGO was…
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).
Algorand
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.
BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6
— Algorand (@Algorand) May 2, 2022
ALGO was…
