IOTA Trumps Bitcoin as Ethereum Release Validator Launchpad, Cardano’s Shelley Mainnet Now Live
Key Higlights:
- Bitcoin bulls are firmly in charge
- Path to Eth2 steady after Medalla Eth2 Validator Launchpad
- Shelley mainnet is now live
- IOTA is closer to Coordicide
Trending News: Bitcoin, Ethereum, Cardano, IOTA
The past few days have made several Bitcoin holders millionaires.
In an industry sometimes driven by hype, a Bitcoin rally often attracts speculators.
Currently trending at slightly over $10,900, BTC is one of the best-performing assets behind Ethereum. The good news is that Cameron Winklevoss, a serial investor and the co-founder of the Gemini Exchange, is confident of BTC’s prospects.
Compared to the crypto rally of 2017, the current spike is marked abnormally high capital injection and participation. Along this line, therefore, the future will likely capital and activity dense as traders scramble for profits.
Ethereum News: Medalla Eth2 Validator Launchpad is Ready
While Bitcoin soars, Ethereum is also rallying, as network users expect gear for the activation of the Medalla Testnet in early August. Its Validator Launchpad was subsequently announced early this week. Its purpose is to ease the on-boarding of Eth2 validators.
Their priority going forward is on education and most importantly, breaking down the role of Eth2 Validators. The Beacon Chain mainnet may launch in early November, setting the ball rolling for a Proof of Stake network where the price of ETH matters.
On the other frame, the DeFi market continues to heat up. Thus far, open finance dApps maintain control of over $3.3 billion worth of ETH.
Cardano News: Shelley Mainnet Launch, Path to Decentralization
On July 29, 2020, Charles Hoskinson and IOHK successfully launched the Shelley mainnet.
After five years of thorough testing, Cardano is now shifting away towards complete decentralization. Once Voltaire is ready for deployment, Cardano—as per Charles’s assessment, will be several folds more decentralized than Bitcoin.
The launch of the Shelley mainnet was accompanied by the release of the Daedalus v2.0.0 wallet, which is compatible with the Shelley mainnet. Through Daedalus, ADA holders can delegate their holdings to their favorite stake pools.
IOTA News: Pollen Upgrade
This week’s noteworthy performer is IOTA. Its native currency is up 11 percent against the greenback and is back to the top 20.
The network will eventually rid the Coordinator.
The release of a new version of Pollen complete with a new wallet was interpreted as a step in the right direction towards Chrysalis.
IOTA Price Analysis
At the time of writing, IOTA is changing hands at $0.30. The coin is up 11 percent against the USD, but down six percent versus BTC in the last trading week.
In the daily chart, the uptrend is firm. IOTA bulls have been printing a series of higher highs, convincingly breaking above June 2020 resistance at around $0.28. Crucially, this breakout was at the back of high trading volumes.
Participation continues to increase. July 30 bull bar for instance, banded along the upper BB—pointing to high momentum, as buyers pump prices. Currently, candlestick arrangements suggest strength. Therefore, traders can align with the current trend by buying dips, as long as IOTA prices tread above the middle BB and preferably above $0.26.
February 2020 high of around $0.36 is the immediate target.
Technical chart courtesy of Trading View
Disclaimer: Views and opinions expressed are those of the author. This is not investment advice. Do your research.
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies.
