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Nano embraces speed, sees transaction rate jump to 750 TPS

Akash Anand

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Nano embraces speed, sees transaction rate jump to 750 TPS
Source: Unsplash

On 18th August, it was informed to users that Nano, the cryptocurrency, had achieved a maximum transaction per second [TPS] rate of 750 blocks per second, a record high for the cryptocurrency. The company also announced that they could maintain an average sustained rate of 75 TPS for over 30 minutes. The official handle of the cryptocurrency announced:

“A big THANK YOU to everyone who participated in the beta network stress test. Users reported an average sustained TPS of 75 over 30 minutes with a reported peak of 756 blocks/second.Want to find out more? Join the conversation at https://bit.ly/2PeEA17$Nano #v15isComing”

Users of the cryptocurrency were very impressed by the development as made evident by the sheer number of positive comments on the announcement.

The Nano Seagull, a crypto enthusiast commented:

“Mighty impressive stuff!

The transaction speed development also goes hand in hand with NANO’s addition to the Bitcoin Superstore, the world’s only cryptocurrency store. The Bitcoin Superstore houses almost all retail stores worldwide, including stores like Amazon, Alibaba, and John Lewis. Customers can pay for their purchases through cryptocurrencies which reports suggest could usher in a path to mass adoption.

Currently, the store accepts Bitcoin [BTC], Bitcoin Cash [BCH], Dash, Ethereum [ETH], Litecoin [LTC], Nano [NANO], TRON [TRX], and XRP. The upgrades in the cryptocurrency network have seen a direct positive correlation in its price with the token seeing a 43% hike in value. According to reports, this has been a recurring pattern this week, with altcoins showing a sudden bullish rise in this bearish market.



The end of the week saw a marked difference in the cryptocurrency market with altcoin prices varying drastically, surprising investors as well as enthusiasts. According to CoinMarketCap, the biggest gainer during the midweek August window was VeChain, Ontology, and Lisk. Reports suggest that the surge in price is a stark contrast in the bearish market, where the prices have been on the downflow for the past one week.

The recent strides made by Nano has seen the cryptocurrency get a notice to be listed on the London Block Exchange [LBX]. The partnership would mean the first Nano and British Pound [GBP] pairing, a stark contrast to the pound’s rigid behavior. Furthermore, Nano and the exchange platform have decided to launch a cryptocurrency hunt in order to celebrate the collaboration.



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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

News

IOTA [MIOTA] surges by 7% as retail expansion prospects brighten following Zeux App integration

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IOTA [MIOTA] surges by 7% as retail expansion prospects brighten following Zeux App integration
Source: Pixabay

IOTA [MIOTA], the 14th largest coin in the market was buoyed by its recent integration with the Zeux platform, resulting in the coin surging by 7% against the US Dollar. The coin closed the gap with the privacy-centric Monero [XMR], and trailed the latter by $15 million, at press time.

Zeux announced the MIOTA addition on 21 March via a Medium blog post, and added that this integration will boost the coin’s retail use. Merchants that cater to Apple Pay and Samsung Pay users will now accept MIOTA as well.

The Zeux platform will roll out in Europe by April, and will enter the US in 2020. The application claims to be a “digital banking solution for both fiat and cryptocurrencies,” and plans on tying up with several merchants at the retail level. Zeux already received its license from the UK’s top regulatory body, the Financial Conduct Authority.

Their tweet announcing the integration stated,

Source: Twitter

Frank Zhou, Founder and CEO of Zeux, believes that the partnership will help propel cryptocurrencies into mainstream retail use. Zhou is looking forward to working with IOTA’s Tangle technology, a Distributed Ledger Technology [DLT] facilitating machine-to-machine interactions, seamless micropayments, and data transfers. Referencing Tangle, he said,

“As a distributed ledger with zero transaction fees, The Tangle is a very promising chain for us to build our customer data Dapp.”

Source: Trading View

IOTA was trading at a stagnant price level of $0.291, with a brief surge to $0.302 on 16 March. After dropping to $0.285, the coin later saw a massive increase of 7.97 percent and pushed the price to $0.308.

The rise continued with the coin reaching $0.315 in the next six hours, peaking at $0.323 on 22 March. At press time, the coin was trading at $0.319. This was the coin’s highest price since 24 February.

In terms of market capitalization, the coin was hovering around the $830 million mark, prior to a drop to $806 million. Following this, the coin’s valuation shot up to $876 million, peaking at $899 million. At press time, the market cap had dropped by over $10 million, and was valued at $887 million.



The South Korean exchange, UPbit, took the top spot in terms of IOTA trade volume, accounting for over 27.6 percent of the total volume in the trading pair IOTA/KRW. Other prominent exchanges in the MIOTA market were Binance, Bitfinex, and Huobi Global.

Zeux had previously integrated Qtum [QTUM] on its application, resulting in a whopping 36 percent price hike for the coin.

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Analysis

Litecoin [LTC] Price Analysis: Price breakout imminent as bears control silver coin

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Litecoin [LTC] Price Analysis: Bear lurks around the silver token's realm even as another breakout is anticipated
Source: Pixabay

The fourth largest coin on CoinMarketCap, Litecoin [LTC] was trading within the $59- $62 range after a short surge.

At press time, the crypto asset held a market cap of $3.60 billion, and was priced at $59.12. The crypto asset registered a 24-hour trading volume of $1.74 billion. LTC exhibited a decline of 2.32% against the US dollar over the past 24 hours, while a growth rate of 3.98% was recorded over the past seven days.

Coineal contributed the highest trading volume for the coin, accounting for 7.98% via the LTC/BTC trading pair. It was followed by Coinall and DigiFinex with 4.22% and 3,66% of the trading volume, respectively.

1-hour

Source: TradingView

Litecoin’s one-hour chart showed an uptrend from $52.39 to $55.86, and another uptrend from $57.90 to $60.29, fueled by the coin’s recent bull run. A downtrend from $55.82-$34.08 was registered on the chart. The support for the coin was found at $52.39.

Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.

Awesome Oscillator: The closing bars of the indicator were red, indicating a bearish price momentum for the crypto asset.

Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that money was flowing into the LTC coin market. Hence, a bullish price trend was predicted for the coin.

1-day

Source: TradingView

The candlestick arrangement on LTC’s one-day chart exhibited an uptrend from $32.79 to $45.68, and a longer downtrend from $55.82 to $34.08. The immediate resistance for the digital asset was marked at $67.78, while the immediate support stood firmly at $30.55 and at $24.10.

Parabolic SAR: The dotted markers were below the candlesticks, and pictured the coin in a bullish environment.

MACD: Post a bearish crossover, the MACD line was treading below the signal line.

Klinger Oscillator: The KO indicator also sustained a bearish crossover, following which the reading line was below the signal line.



Conclusion

The short-term indicators for Litecoin [LTC] exhibited mixed signals, with significant volatility and potential price breakouts being predicted. The long-term indicators echoed strong bearish projections for the digital crypto’s price.

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