Reasons for the increase of $ALGO in the last two weeks

1. Staking Rewards

Algorand will launch Staking Rewards in December this year. With this launch, nodes/validators who have been running nodes for approximately three years without getting incentives, starting this month will receive incentives from block rewards + transaction fees.

To run a node or become a validator which previously only required 1 ALGO, with the launch of Staking Rewards next month, users must have at least 30,000 ALGO in order to run a node and get incentives. This is expected to reduce the circulation of ALGO in the market and increase decentralization.

2. Algorand Blockchain Academy

Since 2023 last year, Algorand has collaborated with the United Nations/UN to form the Blockchain Academy. This Academy is specifically for the more than 23,000 United Nations staff spread across 170 countries.

Through this Academy, Algorand can promote how solutions to real-world problems are built using Algorand. Two solutions that are in the spotlight are TravelX and Hesabpay

TravelX has successfully brought 22 million passengers to try NFT-based flight tickets built on Algorand.

While Hesabpay has succeeded in becoming a popular payment application in Afghanistan. One of its achievements is that 30% of electricity bills in the country are paid through Hesabpay.

For this achievement, Hesabpay received direct support and collaborated with the UN, where one of the UN agencies engaged in humanitarian and food will start using Hesabpay to distribute aid.

The Algorand Blockchain Academy will be effective in the second week of November. With this academy, it is hoped that blockchain can achieve mass adoption and be used to build solutions to real-world problems.

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