iExec RLC rallies 400% after big-name collaborations and Coinbase listing

Centralized exchange listings ignite the rally

Momentum for RLC kicked into high gear following the May 4 announcement that it would be listed on Coinbase, the top U.S. exchange by volume, which recently made waves in the traditional financial markets following its direct listing on the NASDAQ.

CTSI, RLC, MIR & TRB are launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store CTSI, RLC, MIR & TRB. We will update when all are fully live. https://t.co/4C3BS8fiUs

— Coinbase (@coinbase) May 6, 2021

On May 5 it was also revealed that the RLC would be listed on the Huobi and Bithumb exchange, bringing further legitimacy and trading volume to the token.

The project received another boost of attention following the May 6 announcement of the official start of the iExec developer rewards program in which $1 million has been allocated to “inspire developers to discover the opportunities for innovation made possible with the iExec $RLC protocol.”

Monday’s price breakout to new record highs was initiated after the following tweet that highlighted iExec’s participation in the EU-backed Data Cloud project:

iExec recently announced its position as a technology provider in the EU-backed project DataCloud, with 16 other partners @BoschGlobal, @SINTEF, @KTHuniversity, Klagenfurt Univesity, @JOT_Internet, @MOGTechnologies, @UBITECH_GR & @Tellu_AS

More details in an article coming soon: pic.twitter.com/eIwNQvYsEb

— iExec (@iEx_ec) May 10, 2021

Follow up tweets that detailed iExec’s involvement in the ‘Trusted compute’ working group within the Ethereum (ETH) Alliance, Google’s confidential cloud computing program, the Confidential Computing Consortium and its collaboration with IBM further helped provide a further boost to RLC on May 10.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for RLC on May 9, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. RLC price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for RLC reached a low of 48 on May 8 before quickly pushing into the dark green zone for a score of 84 on May 9, just two hours before its price rallied 120% over the next day.

After securing partnerships with some of the biggest cloud computing providers in the industry and listing on the largest centralized exchanges in the cryptocurrency market, iExec RLC looks well-positioned for further growth as mainstream investors look for real-world blockchain use cases to invest in and more money finds its way into the growing cryptocurrency ecosystem.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Protocol upgrades and Google Cloud integration lift EOS price 245% in 2021

Altcoin Watch

EOS price hit its highest level since 2018 after protocol upgrades and big-name collaborations attract institutional investors.

On April 16 EOS price soared to a new high at $8.49 and the current market structure for the altcoin suggests there is room for further upside.

EOS initially made headlines during the ICO craze of 2018 when its parent company Block.one raised a record $4 billion in funding to create the EOSIO software and in the past three months, the altcoin has nearly tripled in value.

Data from Cointelegraph Markets and TradingView shows that since trading at a low of $2.43 on Jan. 27, the price of EOS has climbed 245% to set a multi-year high of $8.47 on April 16.

*EOS/USDT 4-hour chart. Source:* *TradingView*

Three reasons for the rally in the price of EOS since late January include the launch of the new EOS PowerUp model, the release of the new EOSIO testnet by Block.one and the announcement of a collaboration with Google Cloud to advance the integration of distributed ledger technology with cloud computing and storage.

Protocol improvements power up’ price momentum

Momentum for the EOS token began to pick up in earnest in January as approached reaching consensus on integrating the new EOS PowerUp Model which is designed to improve resource allocation.

Congratulations #EOS. Consensus has been reached and the new PowerUp model is live, improving resource allocation. Let’s continue to make EOS stronger. https://t.co/sVkcg2XsfE
— block.one (@block_one_) February 24, 2021

The PowerUp Model is the EOS network’s solution to the issue of transaction fees, which is currently one of the major issues facing the Ethereum (ETH) network.

Under the new model, users have the choice of paying a small fee to power up their account for 24 hours with CPU and NET bandwidth that can be used to fulfill transaction needs or they can deposit their unused tokens to receive a percentage of the power up fees generated by the EOS public blockchain.

As network congestion increases as global adoption rises, networks that offer acceptable solutions to high transaction costs and latency concerns are likely to attract more users looking for a smooth user experience.

New testnet ignites the rally

One of the most significant sources of momentum for EOS and its community came on April 1 when Block.one announced the release of its official EOSIO Testnet.

Ready to test your #EOSIOHackathon project? Experiment in a sandbox running the latest stable release of #EOSIO with our Testnet. #EOSIOTools https://t.co/9exrJOGtNm
— block.one (@block_one_) April 1, 2021

According to the project’s website, some of the features included in the new testnet include a multi-node distributed network, one-click blockchain account creation, an embedded EOSIO explorer and the inclusion of snapshots that enable the quick syncing of EOSIO testnet nodes to ensure high uptime.

The new testnet release is one of the most significant releases to come out of Block.one since the protocol was originally launched in 2018 and provided a boost of confidence for community members who were concerned about the January 2021 departure of Block.one chief technical officer and EOS creator Dan Larimer.

Momentum for the protocol was percolating during the month of March due to an ongoing hackathon that led up to the surprise release of the testnet on April 1 and ignited a significant price rally over the next two weeks.

Google Cloud collaboration adds rocket fuel to the rally

EOS got an added boost to price momentum on April 2 when Google Cloud posted an article discussing its collaboration with EOSIO and how it’s helping revolutionize the integration of distributed ledger technology with confidential cloud computing.

We’re helping @Block_one_ develop and operate their distributed ledger tech with the scalability and reliability of our network, innovation in Confidential Computing, and leadership in #AI / #ML and data analytics. Learn more ⬇️ https://t.co/hfJd5BbpmM
— Google Cloud (@googlecloud) April 2, 2021

Google Cloud was also one of the main partners in the aforementioned hackathon and had the goal of helping "build applications that redefine the future of blockchain and cloud-based systems” which helps to combine the transparent nature of blockchain with the speed and security offered by cloud solutions.

Having such an active relationship with a platform under the Google umbrella has given EOSIO increased validity and the filing of an EOS Grayscale trust in late January means that institutional investors now have an easier way to gain access to this growing ecosystem.

Cloud Storage