Algorand price could recover as Spain’s Air Europa, and TravelX drop NFT flight tickets


  • A leading Spanish airline, Air Europa, has partnered with blockchain entity TravelX to introduce NFT flight tickets. 
  • The tickets will be available for purchase on TravelX’s blockchain platform. 
  • Analysts have predicted a break out in Algorand price as the utility of the altcoin rises. 

Algorand is on track to make a comeback as a recent partnership between and airline and a blockchain platform increases its real-world adoption. Analysts have revealed a bullish outlook on Algorand price. 

Algorand price on track to post gains

Algorand could soon power the world’s first NFT flight tickets, through a partnership between Spain’s Air Europa and TravelX, a blockchain firm. A leading Spanish airline, Air Europa, has partnered with blockchain platform TravelX to introduce NFTs. 

The NFTTickets would be available for purchase on TravelX’s platform. Beginning April 11, the process will repeat every two weeks. Proponents believe Air Europa’s partnership could boost Algorand adoption. 

Users buying Algorand collectibles will board a special flight between Madrid and Miami. This flight on November 29, 2022 would carry users to their destination. On presenting their collectibles, users can claim flight tickets from Air Europa. 

In mid-2021, Algorand price suffered a consistent drop below the red monthly support, and formed a bottom before closing above it. Analysts believe in a bearish scenario, Algorand price could close above its support at $0.50. 

Analysts have evaluated the Algorand price trend and predicted a rally in the altcoin. @kingthies, a leading cryptocurrency analyst observed the chart and revealed that Algorand vs Bitcoin reminds him of the cyclical BTC price trend. According to the analyst, Bitcoin price increases at a minimum two times a year, cyclically. 

The analyst believes it missed February 2022, and the high is now due, therefore predicting a move up in Algorand. 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Dogecoin Price Forecast: DOGE whale transactions fell by more than 70%; bearish move ahead

Dogecoin Price Forecast: DOGE whale transactions fell by more than 70%; bearish move ahead

Dogecoin (DOGE) continues to trade down around $0.24 after falling more than 7% in the previous week. The technical outlook suggests a further correction as DOGE’s momentum indicators reflect bearish divergences

More Dogecoin News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP are headed for further drops

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP are headed for further drops

Bitcoin's (BTC) price continues to edge down, trading below $96,000 on Monday after declining the previous week. Ethereum (ETH) and Ripple (XRP) prices followed BTC's footsteps, declined more than 7% the previous week, and traded below their key support level, hinting at further correction.

More Cryptocurrencies News
XRP sees gains ahead of Depository Receipts launch, Brad Garlinghouse set to join White House crypto council

XRP sees gains ahead of Depository Receipts launch, Brad Garlinghouse set to join White House crypto council

Ripple's XRP gained 4% on Friday following reports that investment firms Receipts Depository Corp and Digital Wealth Partners plan to launch XRP Depository Receipts in the United States.

More Ripple News
Ethereum Price Forecast: ETH could hit $1,200 as Trump announces plans for reciprocal tariffs next week

Ethereum Price Forecast: ETH could hit $1,200 as Trump announces plans for reciprocal tariffs next week

Ethereum declined 4% on Friday following United States (US) President Donald Trump's plan to announce reciprocal tariffs on several countries next week.

More Ethereum News
Bitcoin: BTC shows weakness, bears aiming for $90,000 mark

Bitcoin: BTC shows weakness, bears aiming for $90,000 mark

Bitcoin (BTC) price hovers around $97,000 on Friday after losing nearly 5% in the last three days. CryptoQuant weekly report shows that activity on the Bitcoin network has declined to its lowest level in a year. Traders should watch FTX's upcoming repayments to creditors starting on February 18, which could bring in volatility for Bitcoin prices.

Read full analysis
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

BTC

ETH

XRP