Presearch, Aragon and IOTA explode higher after Bitcoin price clips $50K

September 2, 2021 Coin Telegraph

Presearch, Aragon and IOTA explode higher after Bitcoin price clips K

Adoption

PRE, ANT and MIOTA lead altcoins higher as increasing bullish momentum has analysts calling for Bitcoin price to overtake $50,000.

Optimism across the crypto market continues to rise as bullish developments in the price of Bitcoin and Ethereum (ETH) renewed discussions about a 2013-style double-pump rally that could push (BTC) price past $100,000.

The positive price action hasn’t been limited to the top two market leaders. Many altcoins continue to rally and the 'altseason' indicator from Cointelegraph Markets Pro is signaling that the momentum could continue for a while longer.

*Top 7 coins with the highest 24-hour price change. Source:* *Cointelegraph Markets Pro*

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Presearch (PRE), Aragon (ANT) and IOTA (MIOTA).

Presearch's android app will debut on Chrome

The top performer of the day is Presearch, a blockchain-based, decentralized search engine that is community-driven and allows users to search privately and earn rewards for their activity.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for PRE on Sept. 1, 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. PRE price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for PRE began to rise as the price of PRE started to increase, and reached a high of 73 on Sept. 1, around one hour before its price increased 245% over the next day.

The boost in momentum and price for the project came after the project announced that the Presearch Android application will be added to the 'choice screen' on factory reset phones and it will be available as a default search option on Chrome.

Aragon benefits from its partnership with Polygon

Aragon is an Ethereum network-based protocol that focuses on the creation of decentralized autonomous organizations (DAO) as a way to help projects develop governance structures so that their communities can get involved with the development of the protocol.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ANT on Sept. 1, prior to the recent price rise.

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

As seen in the chart above, the VORTECS™ Score for ANT climbed into the green zone on Aug. 31 and reached a high of 71 on Sept. 1, just two hours before its price began to surge by 77% over the next day.

The sudden spike in interest for ANT came following the Sept. 2 announcement that Aragon had partnered with Polygon to help make the process of launching DAOs on the Aragon network more cost-effective.

Protocol updates push IOTA price higher

IOTA is a distributed ledger protocol that utilizes a proprietary technology called Tangle to perform consensus and confirm transactions.

Data from Cointelegraph Markets Pro and TradingView shows that after reaching a low of $0.96 on Sept. 1, the price of MIOTA spiked 55% to an intraday high at $1.50 on Sep. 2 as its 24-hour trading volume surged 234% to $681 million.

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

The sudden surge in interest for the project comes after the protocol integrated the Hornet update, which brought back the auto-peering feature and also integrated a faucet plugin with the Hornet node. This makes the process of running a private 'Tangle' easier.

The overall cryptocurrency market cap now stands at $2.214 trillion and Bitcoin’s dominance rate is 41.9%.

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.

Fetch.ai and Iota announce new data-sharing IOT partnership

June 9, 2021 Coin Telegraph

“The fundamental goal of this collaboration is to enable granular control over data and to reduce the reliance on centralized systems that take advantage of data,” said Humayun Sheikh, CEO of Fetch.ai.

Artificial intelligence research lab Fetch.ai has partnered with blockchain network Iota to enable a “controlled data sharing environment” for connected devices, setting the stage for a broad leap in Internet of Things (IoT) capabilities.

The partnership, which was announced Wednesday, will allow sectors such as mobility, supply chain logistics, finance, healthcare, energy and others to utilize automated data sharing across IoT networks. Iota’s native Tangle technology will help facilitate secure payments and communications between devices.

“While there are numerous partnerships focusing on data privacy, this one adds the layer of economic benefit for stakeholders via autonomous economic agents without compromising data privacy,” said Fetch.ai CEO Humayun Sheikh, adding:

“Enabling these agents to perform 'useful economic work' on behalf of individuals, businesses, companies, and other entities or organizations will speed up the adoption of Fetch.ai autonomous economic agents and IOTA Streams thereby allowing them to communicate with sophistication across industries like mobility, supply chain, IoT and more.”

Fetch.ai describes autonomous economic agents as artificial intelligence systems acting on an owner’s behalf, with limited or no interference, and with the stated goal of generating economic value for the owner.

The research lab told Cointelegraph that the Iota partnership will open up many tangible use cases for artificial intelligence and data sharing, such as “collaborative public administration,” where autonomous economic agents simplify the public administration process. The new partnership will also enable “smart urban planning” by evaluating data streams, breaking down data silos and offering real-time solutions for urban populations.

“Pandemic management,” where autonomous economic agents provide real-time information on hotspots and community spread, is also a relevant use case in light of COVID-19.

Iota was considered to be one of the most promising cryptocurrency projects during the 2017 bull market. While much of that attention has faded over the years, as evidenced by the MIOTA token’s sharp drop in the market rankings, the project appears to be gaining traction following the launch of the Nectar DevNet earlier this month. As Cointelegraph reported, the Iota 2.0 development network sets the stage for a fully decentralized Tangle network.

Iota 2.0 ‘Nectar’ DevNet goes live to achieve full decentralization

June 2, 2021 Coin Telegraph

Coin Telegraph

The Nectar DevNet follows on the heels of the Chrysalis upgrade and is an expansion of the Pollen Testnet released back in June 2020.

The roadmap to Iota 2.0 has reached another milestone as the Iota Foundation launches the Nectar DevNet.

In a blog post published on Wednesday, the Iota developer announced the news of the Nectar DevNet launch which forms an essential part of the preparatory work for the release of IOTA 2.0 slated for late 2021.

The Nectar DevNet follows on the heels of the Chrysalis upgrade and is an expansion of the Pollen Testnet released back in June 2020. The Iota 2.0 DevNet sets the stage for the transition to a feeless, permissionless and fully decentralized Tangle network.

According to the announcement, the absence of a centralized Coordinator is one of the major elements of the Nectar DevNet. Indeed, in Iota 2.0, the legacy Coordinator system will be replaced by a decentralized Coordicide.

Back in February 2020, hackers attacked Trinity — Iota’s native wallet — stealing about $2 million and causing a network downtime that lasted almost a month to prevent further damage from the attack.

Since the Trinity wallet hack, Iota has moved forward with its planned transition to full decentralization and the emergence of an incentivized Coordicide. According to the release, the Iota Foundation revealed that Nectar will rely on network consensus validation with honest nodes earning Mana tokens as rewards.

Apart from feeless transactions and complete decentralization, tokenization capability is another major feature of the Nectar Iota 2.0 DevNet. The research prototype offers the first opportunities for creating digital assets like utility “coins” and nonfungible tokens on the Iota network.

Nectar also comes with a modular architecture allowing developers to implement specific bug fixes and updates on isolated modules.

Commenting on the Nectar DevNet release, Iota Foundation co-founder Dominik Schiener called the Iota 2.0 research prototype a “game-changer.” According to Schiener, the Iota developers are eager to receive useful feedback on Nectar’s capabilities in preparation for the main Coordicide update.

Top 5 cryptocurrencies to watch this week: BTC, XLM, MIOTA, XMR, XTZ

April 11, 2021 Coin Telegraph

Bitcoin

Traders appear to be waiting for a trigger to start the next leg of Bitcoin's uptrend and if that happens, XLM, MIOTA, XMR and XTZ could join the party.

Bitcoin’s (BTC) hesitation near the all-time high suggests that the bulls and the bears are waiting for a trigger to start the next trending move.

The bulls are searching for a positive catalyst to thrust the price above the overhead resistance. On the contrary, the bears may be standing by in anticipation of any signs of weakness that could confirm a short-term top.

The event that may act as a trigger is the Nasdaq listing for Coinbase's COIN stock on April 14. A successful listing is likely to be cheered by the crypto bulls because that could signal increased crypto adoption by traditional investors in the future. Conversely, a tepid reception to the Coinbase listing could embolden the bears.

*Crypto market data daily view. Source:* *Coin360*

Onchain indicator HODL waves suggests that both the long-term investors and the short-term speculators are not booking profits as they expect higher levels in the future. An increase in the number of HODLers is generally a bullish sign but could become an overhang if fresh money dries up and the market starts to reverse direction.

If that happens, the short-term speculators are likely to panic first and dump their positions. That may hit stops of the swing traders and intensify the selling, paving way for a deeper correction.

As markets wait for a trigger, let’s analyze the charts of the top-5 cryptocurrencies that could benefit from a bullish sentiment.

BTC/USDT

Bitcoin soared above the $60,000 overhead resistance on April 10 and reached $61,301.21, just short of the all-time high at $61,825.84. However, the bulls continue to find difficulty in keeping the price above $60,000, indicating stiff resistance from the bears.

The price has yet to close above $60,000 which means the inverse head and shoulders pattern is still not complete.

The bears will try to capitalize on the small window of opportunity and pull the price down to the 20-day exponential moving average ($57,513). A strong bounce off this support will increase the possibility of a break above $61,825.84.

If that happens, the BTC/USDT pair could start the next leg of the uptrend that could push the price to $69,540 and then $79,566.

On the other hand, if the bears sink the price below the 20-day EMA, the pair could challenge the critical support at the 50-day simple moving average ($54,723). A break below this support will be the first indication of a possible change in trend.

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

The 4-hour chart shows the bears are active above $60,000. However, the positive sign is that the bulls have not allowed the price to sustain below the 20-EMA. This means the bulls are buying on every minor dip.

If the bulls can once again push the price above $60,000, the pair may challenge the all-time high. On the contrary, if the bears sink the price below the 20-EMA, a drop to $57,600 is possible. If this support cracks, the next stop could be $55,600.

XLM/USDT

Stellar Lumens (XLM) broke above the $0.60 resistance today and rose to a new 52-week high at $0.65. Whenever an asset hits a new 52-week high, it is a sign of strength because it shows that traders are in a hurry to buy as they expect the price to rise further.

The upsloping 20-day EMA ($0.46) and the relative strength index (RSI) in the overbought territory suggest the bulls have the upper hand. If the bulls can propel the price above $0.65, the XLM/USDT pair could start the next leg of the uptrend that could reach $0.72 and then $0.85.

However, the long wick on today’s candlestick suggests that the bears have other plans. They are trying to trap the aggressive bulls and pull the price back below $0.60. If the bulls do not allow the price to dip below $0.55, it will suggest accumulation on dips. That will keep the sentiment positive.

Contrary to this assumption, if the bears sink the price below $0.55, a drop to the 20-day EMA is possible. A break below this support will indicate that the bulls have lost their grip.

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

The 4-hour chart shows the pair closed above $0.60 but the bulls could not build upon this strength. The bears pounced on the opportunity and have pulled the price back below the breakout level at $0.60.

However, if the bears fail to sink the price to the 20-EMA, it will suggest the bulls are accumulating on dips. That will increase the possibility of the resumption of the up-move. Conversely, a break below the 20-day EMA may tilt the advantage in favor of the bears.

MIOTA/USDT

IOTA (MIOTA) is in an uptrend. The bulls pushed the price above the psychologically important level at $2 on April 10. If bulls can sustain the breakout, the up-move could reach the next target objective at $2.35 and then $2.60.

The upsloping 20-day EMA ($1.66) and the RSI near the overbought zone suggest the bulls have the upper hand.

However, if the bulls fail to sustain the price above $2, the bears may try to pull the price down to the 20-day EMA. The bulls have successfully defended this support since the start of the current leg of the rally in March.

Hence, if the price again rebounds off the 20-day EMA, it will suggest the sentiment remains positive and the bulls are buying on dips. Alternatively, a break below the 20-day EMA will suggest that the bears are making a comeback.

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

The 4-hour chart shows profit-booking above $2. The MIOTA/USDT pair could now drop to the 20-EMA, which is sloping up. If the price rebounds off this level, it will enhance the prospects of the resumption of the uptrend.

On the contrary, if the bears sink the price below the 20-EMA, the pair could extend its decline to the 50-SMA. Such a deep correction could delay the start of the next leg of the up-move.

XMR/USDT

Monero (XMR) broke above the $268.60 resistance on April 10, indicating the possible resumption of the uptrend. If the bulls can sustain the breakout, the altcoin could rally to the next target objective at $334 and then $384.

The rising 20-day EMA ($258) and the RSI above 75 suggest the path of least resistance is to the upside.

However, if the bulls fail to sustain the price above $288.60, the XMR/USDT pair could drop to the 20-day EMA. A strong bounce off this support will suggest the sentiment remains positive and the bulls are buying on dips. The bulls will then make one more attempt to resume the uptrend.

On the other hand, if the bears sink the price below the 20-day EMA, it will suggest a possible change in sentiment. That could result in a drop to the 50-day SMA ($232).

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

The 4-hour chart shows the bears attempted to stall the rally near the psychological resistance at $300 but the bulls did not give up much ground. They purchased the dip to the 20-EMA and pushed the price above $300.

The rising moving averages and the RSI near the overbought zone suggest the bulls are in control.

This positive view will invalidate if the price turns down and breaks below the moving averages. Such a move will indicate the demand has dried up and traders are booking profits. That could pull the price down to $250.

XTZ/USDT

Tezos (XTZ) is in a strong uptrend. It broke above the stiff overhead resistance at $5.64 on April 5 and completed a successful retest of the breakout level on April 7 and 8. The altcoin resumed its uptrend and made a new all-time high at $7.21 on April 10.

The 20-day EMA ($5.42) is sloping up and the RSI is near the overbought territory, indicating advantage to the bulls. In a strong uptrend, corrections usually last between one to three days as traders buy every minor dip aggressively.

The long tail on today’s candlestick suggests traders are buying at lower levels. If they can drive the price above $7.21, the XTZ/USDT pair could rally to the next target objective at $8.14.

The major support on the downside is the 20-day EMA. If the price rebounds off this support, it will suggest the sentiment remains bullish. The buyers will then again try to push the price above $7.21. Conversely, a break below the 20-day EMA will suggest the bullish momentum has weakened.

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

The 4-hour chart shows the bulls are trying to arrest the pullback at the 20-EMA. If they can push the price above $6.85, a retest of $7.21 is possible. A breakout of this resistance will start the next leg of the up-move.

Contrary to this assumption, if the pair breaks and sustains below the 20-EMA, it may drop to the 50-SMA. The bulls are likely to defend this support aggressively because the price has not dipped below the 50-SMA since March 29.

However, if the bulls fail to arrest the decline at the 50-SMA, the slide could extend to $5.40 and then to $4.60.

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

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