Like many other cryptocurrencies, altcoins such as XLM, ADA, NEO, EOS, and IOTA are beginning to show some green candles after a volatile week.
Stellar Lumens (XLM)
Along with privacy coin Monero, XLM will benefit from additional exposure after financial services organization deVere Group announced it would be adding the two currencies to its platform. This brings the company’s offerings to a total of seven digital coins, as deVere also offers Bitcoin, Ethereum, Ripple, Dash and Litecoin.
CEO Nigel Green noted that there has been a huge burst in customer demand for both Stellar and Monero, as clients are seeking to diversify their portfolios.
“People are piling into cryptocurrencies. The surge in demand is being fueled by digital currencies becoming even more mainstream. Both retail and institutional investors are finding it increasingly hard to ignore the potential opportunities of cryptocurrencies.”
Cardano has dropped from 25 cents to 24 cents since our previous price discussion. This is a 1.66% increase over the last 24 hours on a volume of $66 million. Cardano’s total market cap sits at approximately $6.31 billion.
NEO is currently trading for about $59. That’s a three-dollar slump since our last price article.
News was posted on Twitter that suggests NEO and fellow cryptocurrency Ontology may be merging and moving in a new direction together. The two entities have allegedly signed a “memorandum of understanding” – a formal agreement designed to establish a professional partnership.
NEO and Ontology signed MOU concerning strategy and technology.https://t.co/wfCoUtojDG
— NEO Smart Economy (@NEO_Blockchain) May 14, 2018
While it is not a legally binding contract, it does signify that the two cryptocurrencies have strong intentions of working together.
A press release on NEO’s website claims:
“NEO and Ontology, together, provide compliance-ready, regulatable protocols to global developers. These protocols are supported by NEOVM, with exceptional finality and a smart contract system with a robust and stable infrastructure-level network.”
In addition, the press materials also suggest that both parties will provide standardized technology interfaces like APIs, and “share and communicate development achievements and research results.”
EOS has incurred a one-dollar drop since our last price piece and is trading for roughly $12.77.
The currency’s price had recently experienced a brief surge to $13.46 as the launch of its main net drew closer.
Still, EOS continues to draw attention and push for change in the cryptocurrency arena. The asset’s latest announcement involves XimbraX, a major email provider that provides services to over 500 million global users. The platform will soon be transitioning to the EOS blockchain space.
Since our last price discussion, IOTA has incurred a nasty fall, dropping from roughly $1.90 to $1.76, however, the currency increased 2.48% over the past 24 hours.
The currency is garnering some newfound attention after several announcements occurred this week, starting with the IOTA Foundation’s addition of two new members to its board in Andrea Villa and Dyrell Chapman. Villa is described as a “self-taught computer hacker and entrepreneur,” while Chapman is an “architectural technologist.”
In addition, IOTA’s new Trinity Wallet is set to be released in the coming weeks, while a proof-of-concept application is now up and running in the IOTA ecosystem. Lastly, the company has signed a partnership with Kontakt.io, a startup that seeks to digitize the physical world.
At press time, the cryptocurrency market cap has fallen to $375 billion, roughly $4 billion more than where it stood during our last article.
The market continues to show signs of heavy volatility, and investors are warned to always trade with extreme caution. The world of digital assets continues to remain speculative, and individuals who delve into the market are advised only to invest what they can afford to lose.
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