The cryptocurrency market is seeing a lot of green today, as Bitcoin (BTC) continues to climb in price on its 10-day bull run. Bitcoin reached a price of over $8,200 today, the first time this has happened since mid-May. The rest of the altcoins in the 15 have followed suit and are all seeing percentage gains today. Let’s take a closer look at Stellar (XLM), Cardano (ADA), and TRON (TRX).
Last week, IBM announced that it would be supporting a new stable coin dubbed the ‘Stronghold USD.’ This new Tether competitor was launched on the Stellar network and has finally given investors insight as to what the working relationship between IBM and Stellar was all about.
IBM first initiated its partnership with Stellar Labs back in late 2017. Since the stable coin announcement, XLM has been on an upward trend. Currently, it sits as the sixth largest cryptocurrency by market cap.
At press time, Stellar (XLM) is trading at $0.300 a coin, up 5.47% in 24 hours. For the week, XLM is up 20.48% and for the month, the cryptocurrency is up 51.51%.
Charles Hoskinson, Cardano’s co-founder, is on the road again but has provided Cardano enthusiasts with a short update on Cardano’s latest developments.
brief update from Singapore https://t.co/Hp9y6jOXCp
— Charles Hoskinson (@IOHK_Charles) July 19, 2018
Hoskinson addresses Prometheus, the backend toolbox that will power multiple wallets. ‘Project Prometheus’ is setting up its own team on this project and will ensure the properties of the platform are carried over for development of mobile wallets, light wallets, and embedded devices.
Hoskinson also informed investors about the Plutus project and says that the team has been growing rapidly. The Plutus team has active efforts being made to use complex computer languages to make Cardano bigger and better. The goal of Plutus is interoperability. In the video, Hoskinson also addresses sidechains and smart contract development on Cardano.
At press time, Cardano (ADA) is trading at $0.173 a coin, up 3.61% in 24 hours.
Proud to announce @BitTorrent and @uTorrent are now part of the #TRON family. BitTorrent is supported by over 100M active users. Together we are building the future of the decentralized Internet! Stay tuned for updates #TRONBT $TRX @Tronfoundation https://t.co/mQQqUeOaHv pic.twitter.com/eSYY4lWsXI
— Justin Sun (@justinsuntron) July 24, 2018
News broke of Justin Sun acquiring BitTorrent around June 12th, but the project hadn’t officially confirmed it until today. As per Justin Sun’s tweet, BitTorrent holds over 100 million active members, and they are all now a part of the TRON ecosystem.
TRON (TRX) has been struggling on the market lately, but this news boosted its price a bit. TRON remains the 11th largest cryptocurrency by market cap. At press time, TRX is trading at $0.0377 a coin, up 8.91% in 24 hours.
Featured Image: unsplash/© Jeremy Bishop