Crypto: Sharp rise in the price of Algorand (ALGO)

Algorand (ALGO) is one of the few cryptos that is not in the red with rising US interest rates. Recently, the company behind this crypto hired former Visa executive Michele Quintaglie. Michele is the company’s new marketing director, and her appointment seems to have had a big impact on the Algorand (ALGO) market.

Algorand (ALGO) records a 15% jump

The Algorand community has shown itself to be rather favorable to the hiring of Michele Quintaglie as the new marketing director. The self-proclaimed sustainable blockchain has recorded a rise 15% after the announcement of the new appointment. Yet the Fed had just raised US interest rates again. The metric plunged many cryptos into the red.

At Algorand, Michele Quintaglie will work with Sean Ford, the new interim CEO. Sean Ford is temporarily replacing Steven Kokinos, who stepped down as CEO of the company in July. You should know that Quintaglie has several years of experience in three of the largest companies in the world.

Indeed, she has worked at Visa, Fidelity and Raytheon Technologies. In the first two companies, she was responsible for communications. In the last, she held the position of head of media relations and public affairs.

Moreover, the new appointment is not the only event to have impacted the Algorand (ALGO) market in recent months. There was also the signing of a partnership with FIFA in May. Indeed, the main football federation plans to launch a platform called FIFA+ Collect, which will be housed on the Algorand blockchain. FIFA+ Collect is aimed at football fans looking to collect NFTs depicting the highlights of next November’s World Cup.

The enthusiasm around the partnership with FIFA and around the appointment of Michele Quintaglie caused an increase in the ALGO price. But, Algorand (ALGO) is still not close enough to its bull market top.

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