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IOTA: From A Small Project To A $4.4 Billion Cryptocurrency Developers ‘Love To Hate’

Nowadays, cryptocurrencies are crawling more and more people with ambitious visions for the future. We all picture the modern future as a time when the Internet of Things (IoT) will dominate in every possible way.

There are many examples of IoT as a great technology connected to a variety of devices. For example, a wristband on your wrist can detect sweat whilst you are running and turn on the water heater in your home. In another example, a sensor on your milk carton in the refrigerator can notice that you are down to the last cup and send you a notification that you need to buy some milk (or order it directly online).

One of the cryptocurrency projects that are focused on this (improved) reality is IOTA. What started as a small project is garnering quite a bit of attention lately – only because of the massive potential of the Internet of Things as a technology.

In other words, IOTA is a great way to disrupt the silos of the currency centralized system as well as streamline business in terms of its time and cost. According to the co-founder of IOTA David Sonstebo:

“The obvious thing is that [IOTA] is the first project that went beyond blockchain. Got rid of miners. In the process we solved the main pain points of transactions – no fees.”

With a team of 150 developers, cryptographers and others that keep their stories straight, IOTA has managed to gather $4.43 billion in its market cap. The current price of IOTA is around $1.65, up from $0.36 in June last year.

Still, there are several problems that are pointed out towards IOTA – and a couple of holes. All of the negativity started in September after an investigation which found a vulnerability in the project’s code.

Still, IOTA developers are confident and always manage to find solutions. Even though there have been many attempts to break down IOTA, it keeps on rising and now sits in the top 10 largest cryptocurrencies by market cap (holding the 9th position).

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Monero Surges 12% In A Crypto Recovery

The 11th largest cryptocurrency with a market cap of nearly $3.6 billion, Monero, jumped more than 12% over the past 24 hours, rising to a price of $233.74. The privacy-centric currency is now closer to the 10th-placed IOTA which has a market cap of more than $4 billion.

By gaining $1 billion this week, Monero has began the week with a price of $167.78 and a market capitalization of $2.66 billion. The cryptocurrency has recovered the capitalization it gave up over the past month – making the price reach $233 with a market cap of $3.732 billion.

However, experts say that Monero still has a way to go in order to reclaim the price that it had on January 20th  – $389 – with a market cap of $6 billion.

What’s interesting is that Monero was among the many cryptocurrencies that helped the market climb to $334 billion this week. While Bitcoin did not measure any specific growth, it was Monero and Ethereum that led the way to new gains.

If you are wondering what made this improvement in terms of price for Monero, there are a couple of factors. The most obvious one, however, is the fact that the cryptocurrency activated its semi-annual hard fork this April 6th, bringing a host of new upgrades. Still, one of the major upgrades threatens to split the network into two competing chains.

Earlier this year, Monero announced its intention to update its instance of the Cryptonight Proof-of-Work (PoW) mining algorithm – in order to prevent mining hardware manufacturers from developing Monero-compatible Application Specific Integrated Circuit (ASIC) miners.

Speaking of, ASIC chips maximize the efficiency to such an extent that mining with GPU miners becomes no longer profitable.

 

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Litecoin Price News: How Is Litecoin (LTC) Doing This Week?

We all know that Litecoin is one of the best performing cryptocurrencies on the market. For that, it is also linked to Bitcoin and seen as “the new Bitcoin”. However, over the past few months, the Litecoin price has been sinking (just like many other cryptocurrencies).

Fortunately, the cryptocurrency market has been trading well over the past few weeks – making Litecoin outperform many other digital tokens.

The 9.44% climb of Litecoin has tripled the gains of it – when compared to competitors such as Ripple and Ethereum. Currently, Litecoin is trading at $136.91, soaring above the rest of the pack.

Meanwhile, Bitcoin rose 1-2% to trade above $8,100 and Ethereum is trading at $523. Ripple is also seeing a strong trade at $40.669. However, Litecoin is growing above all of them and has been performing great lately.

With this in mind, we can safely say that 2018 has not been the kind of cryptocurrency market we expected. Just like most of the cryptocurrencies in the top 10 list, Litecoin has suffered a lot and had a poor first quarter – making more than 50% of its value to wipe off in just three months.

However, the situation now is a lot better – and the cryptocurrency is in good stead to continue on a bullish trend in the short-term. The founder Charlie Liee also cautioned buyers of the present risks on a volatile market and advised:

“If you can’t handle Litecoin going to the high, then don’t invest. Long term is good, short-term – no one knows!”

Litecoin is also available on more exchanges in 2018, after the South Korean exchange Korbit accepted the cryptocurrency among the ‘big fish’.

 

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Brazil’s Largest Investment Firm Plans To Launch A Crypto Exchange

The largest investment firm in Brazil, XP Investimentos, is now overlooking the crypto space and actively figuring out how to launch a cryptocurrency exchange. As a financial services company that manages over $35 billion for over 500,000 clients, the firm is not linked to cryptocurrencies in any possible way. However, this may change real soon.

According to Brazil’s Department of Federal Revenue, XP Investimentos recently registered XDEX INTERMEDIACAO LTDA – a company with around $7.3 million in registered capital.

The newly available data shows that this company was initially registered in August 2017. During the month of November, when most of the cryptocurrencies were surging, the exchange got its capital and turned to XDEX.

The local Brazilian news outlet Portal do Bitcoin confirmed this data and showed that this company is linked to XP Investimentos. However, there is still a lot that is unknown about this new cryptocurrency exchange. As Portal do Bitcoin states in a post on their website:

“It is not yet known what services the new exchange will provide. A source, who did not want to be identified, said that the action will be in the so-called over-the-counter market. That is: focused on movements of large volumes of capital and BTC.”

What’s most interesting in the entire situation is that XP Investimentos has been researching the crypto space for a while. In October 2017, they revealed that they registered the “XP Bitcoin” brand. One month later, they hired Fernando Ulrich who is a Brazilian cryptocurrency expert.

In Brazil, there are a lot of ‘rival’ associations in the crypto space. Even though associations are not yet certain on how cryptocurrencies should be regulated in the country, the president of one of these associations, Fernando Furlan, recently said:

“There is legal uncertainty. Depending on the purpose, it may be considered a means of payment or a financial asset. “

All in all, XP Investimentos’ move may come at the right time. After Brazil’s largest crypto exchange Foxbit went down for over 72 hours.

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Stellar Lumens (XLM) Price Analysis: Can It Stand The Test Of Time?

We are living in an era when the cryptocurrency market capitalization is coming down – and Bitcoin (BTC) is dominating the virtual currency game with the highest market cap. The tax deadline season is also right around the corner and finishing today.

It seems like the crypto market knows how to respond to periods and trends like this. On April 1st, the entire market cap dropped below $250 – but right now is more than $300 billion after Bitcoin had one of the biggest one-hour trade volumes in history.

However, we are focusing on a newcomer here which has been making headlines for some time now. Its name is Stellar (XLM) and currently, it is ranked at the 8th spot. The changes and price fluctuations for Stellar are minor – going around the $0.28 price.

The coin is apparently having a selling pressure which puts the price up and down. One Stellar investor from Queensland confirmed this online, stating that:

“Right now the coin is having a selling pressure with the RSI almost nearing to an overbought situation. The MACD indicators are moving towards a crossover which means that at that point a change in the trend can happen. Im not very sure about Stellar as of now. The support should hold the coin intact.”

More and more people continue to believe that Stellar (XLM) has a massive potential. Users and traders believe that $0.30 is the next milestone – with $0.38 to follow. For a long time, Stellar Lumens is an undervalued coin – and this needs to change.

With the current three-week surge in price, this may be more than just a reality. In a poll, 62% of Stellar respondents believe that the coin has already shown great potential but died out recently. 38% of them desire to wait for an uptrend that will kick in and ramp up the price of Stellar – to a dollar by the end of this year.

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