n You asked for IOTA, we did it n
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IOTA Bulls May Dominate And Drive Prices To Q2 2019 Highs
- IOTA bouncing from Q1 2019 peaks
- Azimuth, Coordicide, and release of Trinity bullish for IOTA
From Azimuth to Coordicide and the recent rollout of Trinity, IOTA is readying for a machine economy. As a leading IoT platform, fundamentals are bullish. Therefore, despite weakness, odds of price recovering are high.
IOTA Price Analysis
Fundamentals
In an automated data-driven future, there is no room for error. As a result, IOTA is prepared and laying the framework, the necessary foundation for a secure network. Critics were slamming IOTA for their blockless, Proof-of-Work dependent consensus algorithm claiming the Coordinator was centralized.
Luckily for IOTA fans, developers are working overtime for a solution that will not only secure the network from one-third attacks, as that is what a determined hacker needs, but to make the platform as scalable and decentralized as possible. Coordicide is the solution. The option entails the complete removal of the Coordinator without compromising the security and efficiency of the network.
However, it doesn’t stop there. There are rafts of developments in progress. Top of the list is Azimuth. In a new consensus algorithm that is reliant on Proof-of-Work, Azimuth is all about efficiency. Azimuth, it appears, is a dedication. A show that developers are working their hands to the bone.
Basically, it is a spam protection mechanism that is so efficient that it doesn’t need the computational power like in other proof-of-work systems. Because of autopeering, nodes will accept transactions from any neighboring nodes meaning small IoT devices can quickly join the IOTA ecosystem without wasting their computational resources.
As a result, not only will the IOTA ecosystem be more secure and scalable, but it is the essential cog required for a prosperous, revolutionizing machine-to-machine economy.
Candlestick Arrangement
At the present time, IOTA is down the market cap rankings. Dropping to 19th, IOTA is wallowing and below NEO. Even so, it is stable and fundamental factors alone mean the coin is bullish. If anything, and in line with previous IOT/USD trade plans, buyers are in control.
Note that there is support from 40 cents. Trading within a bullish breakout pattern thanks to upswings of mid-May 2019, buyers are in the driving seat.
Concluding retests, IOTA bulls may end up printing higher this week. Accordingly, every low is an entry opportunity for aggressive traders aiming at 55 cents or May high. Contrarily, If there is liquidation below 40 cents complete with high trade volumes, prices may tumble to May low of around 30 cents.
Technical Indicators
Ideally, the reversal of June 27 losses at the back of high participation exceeding 17 million of June 26 is bullish. As mentioned, that will open the flood doors for 55 cents or better in coming weeks in a trend continuation phase, the third phase of a classic breakout pattern.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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IOTA Foundation Launches Trinity, a New Software Wallet for IOTA tokens
n IOTA has launched their new software wallet, Trinity, promoting features designed for ease-of-use and securityn
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IOTA Retest Q1 2019 Peaks, Price Bullish Despite Weakness
- IOTA slides 11.4 percent
- Coordicide and a new scalability-enhancing algorithm is bullish
The Internet of Things (IoT) industry is expected to rise to over 5 billion by 2023. As such, the IOTA Foundation is ready to capitalize on this projection. Through Coordicide and improvement of the existing algorithm, IOTA prices could correct upwards.
IOTA Price Analysis
Fundamental
Given the rise of smart contracting, futurists are optimistic. With millions supporting research and development, analysts are churning out papers confirming the power of blockchains. Therefore, it is so easy to see why blockchain dominates headlines. It is disruptive despite inherent technical challenges.
All the same, the creators of IOTA took a different route. By introducing a blockless system that is by default scalable, they plan to take over the IoT sector. Estimated to reach billions of dollars in coming years, the IOTA Foundation is readying for this bright future. However, there are outstanding hitches.
Top of the list is the issue of centralization. With a white paper detailing the removal of the Coordinator, the prospects of IOTA as an investment is attractive for enterprising investors. However, there is more. The IOTA Foundation is lining up for a new algorithm that will drastically improve the network’s performance.
Overly, the express objective of this algorithm is to address scalability, arrest spam attacks, and above everything, tackle congestion. In a paper, Achieving Fairness in the Tangle through an Adaptive Rate Control Algorithm, co-authored by Dr. Luigi Vigneri, a senior research scientist of the IOTA Foundation and one of the team members planning to implement Coordicide, the new algorithm will turbocharge the platform in three planes.
Firstly, it introduces the ability to stake IOTA. Secondly, it proposes an idea requiring each transaction to expend resources when solving a proof-of-work puzzle. Thirdly, upon implementation, the difficulty of the network shall be directly proportional to the number of transactions sent over time.
Candlestick Arrangement
At the time of writing, IOTA is down the liquidity and market cap leader board. Sliding 11.4 percent from last week’s close, IOTA is at risk of registering more losses. On the bright side of the equation, short to medium term performance of the asset is mainly dependent on the reaction at 40 cents.
Doubling up as Q1 2019 primary support, IOTA is at a retest. If there is an upward correction today or in coming days as prices rebound from 40 cents, odds are IOTA bulls will take charge in a trend continuation phase towards 55 cents and later 90 cents.
In that case, conservative traders should buy the dips once prices rally past 50 cents propelled by high trading volumes. On the other hand, any drop below 40 cents could see IOTA sink to 25 cents.
Technical Indicator
As a result, June 26 candlestick leads this trade plan. Any bulls’ confirming bar lifting prices above 50 cents ought to be with high participation exceeding 17 million of June 26. Similarly, marking a dump down is a meltdown below 40 cents differentiated by increasing trading volumes exceeding 17 million.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post IOTA Retest Q1 2019 Peaks, Price Bullish Despite Weakness appeared first on NewsBTC.
Top 5 Crypto Performers Overview XEM, Ripple, Stellar, Bitcoin, IOTA
n Among the sea of red in the top 20 cryptocurrencies, NEM stands out as it keeps oscillating into the green once in a whilen
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Bitfinex’s LEO Spikes 32%, Passes IOTA on Crypto Leaderboard
- LEO surges, up 32 percent
- FOMO likely accelerating LEO demand
The tokenization of BitFinex through the sale of LEO tokens was an opportunity for investors to draw maximum benefits from a liquid exchange. At the time of writing, LEO is up 32 percent week-to-date.
LEO Price Analysis
Fundamentals
Desperate times call for desperate measures. That’s the adage that BitFinex’s owners, iFinex Limited, heeded, quite literally. Faced with insurmountable pressure upon the damaging revelation that the exchange used part of Tether Limited’s fund to fix a deluge, the management settled for an Initial Exchange Offering (IEO).
The objective was quite clear and brazen: crowdfund billion in USDT from private investors. That meant tokenizing the exchange through the Unus Sed LEO tokens. Hardly surprising, Justin Sun was said to be among one of those who had made applications for consideration.
However, reports had it that he pulled out, it was apparent that opportunity seeking billionaires couldn’t leave this lying. Of the many investors who kept decided to keep it low key, the outspoken “china’s BTC billionaire” Zhao Dong, notified the community of BitFinex’s plans:
“Leo tokens are intended to be the utility token at the heart of the iFinex ecosystem. Token holder will experience immediate benefits across iFinex trading platforms, products, and services including LEO holders’ taker fees will be reduced by 15 percent overall crypto-to-crypto pairs (including crypto to Stablecoin. Taker fees…reduced by an additional 10 percent overall crypto pairs. For traders with an average >,000 USDT in LEO tokens in their account during the previous month…etc.”
Candlestick Arrangement
Considering the benefits, it was highly anticipated that the coin sold out in minutes, gifting BitFinex the much-needed liquidity. However, for investors, LEO prices sunk. Upon listing on May 20th, LEO prices dropped from .49 to .025 before closing at .07.
Even though it was seven percent in the green, investors were shaken. Presently, LEO on a recovery path, adding 96 percent and changing hands at .96 against the greenback. As a result of this, LEO’s market cap is $ ,959 million surging 32 from week-to-date.
Technically, hype alone will shore LEO as investors don’t want to miss another BNB moment. Therefore, even though prices could react at .15 or the 78.6 percent Fibonacci retracement, bulls will likely prevail in the long term. Thus, for the savvy trader, every dip is another buying opportunity. Stop limits at .55 could be the safety net just against there is an unexpected liquidation.
Technical Indicators
Noteworthy, trading volumes are increasing. That is buoying bulls, which is positive. Breaks above May 20th high at .15 should ideally be with high trading volumes exceeding 3.95 million of June 10th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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IOTA Is Down The Liquidity Rankings Despite The Promise of Coordicide
- IOTA stable, up 1.3 percent week-to-date
- The success of Coordicide will determine IOTA’s trajectory
Coordicide dominates in IOTA Forums. Upon test and implementation, the platform will trailblaze within the IoT landscape. Meanwhile, IOTA is stable but down the liquidity rankings.
IOTA Price Analysis
Fundamentals
The IOTA community is jubilant because of Coordicide. Consensus among critics and supporters is that the transaction validator, in Coordinator, is indeed a central point of failure. Its downtime can severely cripple IOTA’s ecosystem.
In a new white paper explaining how the blockless IOTA, meeting the needs of a feeless and real-time IoT ecosystem, will implement a solution, the team highlighted the need for patience.
Although supporters describe the final activation as game-changing, rewarding, and setting apart IOTA’s excellence in research, the exact date will remain tentative. That is until tests confirming that the option operates as designed.
Most importantly, initial tests must without a shadow of doubt demonstrate that the network is secure with sync in consensus, peering, discovering, and accountability of nodes. Once these tests are satisfactory, the mainnet will launch.
“Proposed ideas need to be simulated and tested to develop specific network components which we feel confident to deploy on the main network. We stress that some of the ideas presented here are works in progress and as such are not fully fleshed out. They are therefore likely to be modified as we make progress and perform simulations.”
Candlestick Arrangement
Down to 17th, IOTA is stable in the daily and weekly chart, respectively. Even though the digital asset is trading within a bullish breakout pattern after convincingly closing above Q1 2019 highs-now support, bulls are struggling to rekindle initial momentum.
From the chart, IOT is at the early stages of a trend resumption phase after selloff of May 30th and the confirmation of June 3rd. As a result of the above, the best cause of action is for aggressive traders to load on dips.
Alternatively, conservative traders can wait for a complete reversal of May 30th losses. Therefore, that means upon clearance of May high, traders can comfortably buy the dips while aiming at 65 cents or higher.
Technical Indicators
In light of the above, May 30th and June 3rd candlesticks anchor this trade plan. The success of IOTA bulls largely depends on the strength of the underlying momentum.
If the breakout above 55 cents or May high is with high participation exceeding 22 million, odds are bulls will rally to 65 cents or beyond. Conversely, losses below 40 cents could see IOTA tumble to 25 cents or lower.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post IOTA Is Down The Liquidity Rankings Despite The Promise of Coordicide appeared first on NewsBTC.
May Crypto Roundup: Markets Surged 50% as Bitcoin, Ethereum, BCH, EOS and IOTA Dominated
A 50 percent pump for crypto markets in May with BTC, ETH, BCH, EOS and IOTA gaining more than 50 percent each.
For a fourth month this year, crypto markets have surged with May market performance being the best so far. Total market capitalization surged by 50 percent in May, largely driven by Bitcoin which made it to ,000. A ten month high of 5 billion was hit on May 30 before a slight pullback. Gains have been impressive for most of the top crypto assets and some have doubled in price.
As in April, Bitcoin has been the driver of momentum for crypto markets continuing its uptrend and reaching a new 2019 high. Starting out at ,350 Bitcoin surged 55 percent to end the month at ,320. A high over ,100 was touched at the end of May before a slight correction cooled markets off a little. BTC volume had surged to billion and the scene was reminiscent of late 2017.
May Crypto Winners
Ethereum performance equaled that of Bitcoin has it pumped 60 percent to end the month at 0. Gains previously had been very hard to come by for ETH but May has finally seen a resurgence as it returned to highs not seen since August 2018.
XRP has not been as fruitful as the two above it but the Ripple token still managed a 37 percent gain in May to end it a .423. Bitcoin Cash did much better conversely with a surge of just under 60 percent to end the month at around 5.
Litecoin had a solid run in May jumping 48 percent from to 0. LTC is likely to continue this momentum in the run up to its halving event in August. EOS matched ETH in terms of performance adding 60 percent over the month to end it at .75.
Binance Coin, which has been a train this year, made 45 percent in May moving from to . BNB also hit a new all-time high of just before month end. Bitcoin SV had been manipulated by a fake news scam so its 250 percent surge to 0 from cannot really be considered. Rounding out the top ten is Stellar which has been slow to recover making just 30 percent to end May trading at .13.
Tron managed 34 percent in May climbing to .032 by the end of it and Cardano was even weaker adding just 22 percent over the month. Monero did much better with a 48 percent increase to end May at .
Dash made a similar 44 percent reaching 0 by month end while IOTA had better fundamentals driving it up 60 percent to .49. Cosmos increased by 43 percent, Ethereum Classic 39 percent, but Tezos only managed 21 percent. NEO gained a solid 35 percent and rounding out the top twenty was NEM surging almost 70 percent in May.
There were no losers last month which has been one of the best since the previous bull market. The top performing cryptocurrencies in May 2019 were Bitcoin, Ethereum, Bitcoin Cash, EOS, IOTA and NEM, all of which gained in excess of 50 percent. Those not performing so well getting smaller gains included Stellar, Cardano, and Tezos.
All figures from Coinmarketcap.com
Previous months: February 18 | March 18 | April 18 | May 18 | June 18 | July 18 | August 18 | September 18 | October 18 | November 18 | December 18 | January 19 | February 19 | March 19 | April 19
Image from Shutterstock
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Crypto Market Wrap: IOTA Defies Market Correction With 16% Surge
Crypto markets cool off; IOTA cranking while Bitcoin, BNB, Tron and Monero start to slide.
Market Wrap
There has been a bit of a cooling off for Bitcoin and crypto markets following solid gains over the past couple of days. Red has seeped into the charts as losses begin to accelerate during Asian trading today. This has knocked billion off total crypto market capitalization as it slides back towards 5 billion.
From a high of ,760 a few hours ago Bitcoin started to fall back, dropping 3 percent to below ,500. The selloff has accelerated over the past two hours and may well result in a fall back to resistance at around ,200. The big 30 percent pullback is still looming and it may have just started to happen.
Ethereum has followed suit, dropping a similar amount at the time of writing and falling back to 3. ETH still remains coupled to the movements of BTC, especially on the downside.
The top ten is all red at the moment with altcoin losses starting to mount up. Only XRP is surviving right now with no losses on the day but that will definitely change if markets drop further. Binance Coin has lost the most with a 5 percent slide back to while Litecoin is back at 1 losing almost 3 percent.
There is only one altcoin surging in the top twenty today. IOTA has pumped over 16 percent as the Tangle team announces the next evolutionary stage for the platform. A move closer to full decentralization with ‘Coordicide’ has driven IOTA fomo today as it gets close to .50.
IOTA Announces Coordicide Solution: A Distributed Ledger Technology which Removes the Barriers to Real-World Adoption. https://t.co/g7qdimiDew
More details on https://t.co/Gx8P2tMgtH#IOTA #Coordicide— IOTA (@iotatoken) May 28, 2019
Big dumps are everywhere else with Tron, Monero and Ethereum Classic dropping 5-6 percent. The rest are also starting to fall back now with a couple of percent lost each.
FOMO: Aurora Back Up
AOA must be one of the most pumped and dumped altcoins in the top one hundred. Today it is back up 24 percent for no apparent reason again. Pundi X has made 15 percent as former member of the governing board of the Ethereum Foundation, David Ben Kay, gets appointed as President of the Function X Foundation. IOTA is the third altcoin in double digits at the moment. At the messy end of the top one hundred is Verge and Aelf dropping 7 percent each.
Total crypto market capitalization has shrunk by billion in 24 hours as it returns to 7 billion. Bitcoin has been largely responsible for the decline as altcoin losses are largely comparable. On the week, however, markets are still up by almost 7 percent so the minor pullback is just that – at the moment.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: IOTA Defies Market Correction With 16% Surge appeared first on NewsBTC.
Top 5 Crypto Performers XEM, XLM, XTZ, BNB, IOTA
n After this weeks strong recovery and then dip, lets check out the marketsn
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