Algorand price experienced significant growth on April 27, 2025, driven by a major announcement from the Algorand Foundation.

The Algorand price experienced significant growth on April 27, 2025, driven by a major announcement from the Algorand Foundation.

This important development concerns the collaboration with World Chess and the launch of an innovative project called Universal Chess Passport.

The news was spread via a tweet by Cas Abbé, who highlighted the exceptional scalability of the Algorand network, evidenced by over 6 million transactions already processed in collaboration with the world of chess.

Algorand processes over 6 million transactions for World Chess and launches Universal Chess Passport to bring unique blockchain identities to 600+ million chess players. This is incredible and showcases the network’s scalability for large-scale use cases. https://t.co/L9n97z8D7v

— CasuallyCas (CPH / Chainalyze) (@_CasuallyCas) April 27, 2025

As a result, Algorand is increasingly establishing itself as a high-performance blockchain with a solid infrastructure for high-volume use cases.

The Universal Chess Passport initiative aims to create a unique and secure identity on the blockchain, targeting more than 600 million chess players worldwide. This innovation could massively drive the adoption of the native token ALGO as a utility asset.

The price of Algorand is rising and sensational announcements

The Universal Chess Passport project aims to build a secure on-chain digital identity, recognized across different platforms.

This solution represents a turning point for identity management in the blockchain world, especially in a competitive sector like that of global chess.

The potential for use is enormous, as it exceeds 600 million active users, an audience never before reached by other similar initiatives.

After the announcement, the Algorand price showed immediate growth, rising from 0.135 to 0.139 dollars, equivalent to an increase of 3.2%.

Simultaneously, the trading volume of ALGO increased by 18% in the following 24 hours, reaching 42 million ALGO traded on platforms like Binance and Coinbase, especially in the more liquid pairs ALGO/USDT and ALGO/BTC.

As a result, there was also a significant increase in active addresses on the network, rising by 12% to 1.2 million.

These indicators highlight a growing interest in the token, favored by the prospect of increased demand related to transactions generated by the adoption of the digital passport.

The on-chain metrics indicate a growth in the number of daily transactions, which rose by 9% to 320,000 transactions on April 27, 2025. This increase suggests an expanding network, capable of supporting a greater load without hitches.

Furthermore, the annualized yield of staking ALGO has reached 5.8%, an increase compared to the 5.5% of the previous week.

This reflects a greater confidence in the network by investors, who find in the token not only an exchange asset, but also a source of passive income.

Liquidity and correlation with the main markets

The liquidity of ALGO appears solid, with a trading volume of about 3.8 million dollars for the ALGO/USDT pair on Binance and 1.2 million on ALGO/BTC.

Furthermore, there is a correlation of 0.72 with Bitcoin, indicating that the price of ALGO benefits from the movements of the broader crypto market.

Consequently, ALGO could follow bullish trends in sync with the rallies of Bitcoin, making it interesting for traders seeking balanced exposure.

From a technical standpoint, ALGO on April 27, 2025, was above the 50-day moving average, indicating short-term bull momentum. The current value of the moving average was 0.132 dollars, while the price was positioned above this threshold, confirming the active strength.

The relative strength index (RSI) was at 58, leaving room for a possible further rise before the asset enters overbought territory (around 70).

Furthermore, the MACD highlighted a positive crossover on the 4-hour chart, with the signal line surpassing the MACD line, a typical entry signal for long positions.

For those who follow or trade ALGO, the price levels to monitor are 0.145 dollars as the main resistance and 0.130 dollars as the consolidated support.

If the trading volume remains high or continues to grow, a breakout beyond the resistance threshold cannot be ruled out, opening new horizons of appreciation for the token.

Future prospects and considerations for investors

The Universal Chess Passport project represents a concrete opportunity for Algorand price and practical adoption of the blockchain in the real world.

The fact of aiming for a scalable and secure digital identity for such a vast user base (6