Price Watch: EOS, Cardano, IOTA, TRON, Stellar Lumens Finding Ground


Over the past week, the cryptocurrency market shed 10% of its market cap, or almost $30 billion. Despite the constant news, product developments and announcements from projects like EOS, Cardano, IOTA, Stellar and TRON, the market has still been experiencing steep drops like Sunday’s BTC sub-$7K nosedive.

EOS, currently ranked #5 by market cap, is down 0.43% over the past 24 hours. EOS has a market cap of $10.09B with a 24 hour volume of $1.24B.

Chart by CryptoCompare

EOS is down 0.43% over the past 24 hours.

After completing a record-breaking $4 billion ICO on June 2, EOS experienced a turbulent few days leading up to the launch of their mainnet.

Related Article: EOS Go to Launch: Unanimous Yes Vote Gives EOS Blockchain Green Light

With two opposing chain candidates in conflict, EOS faced a divided global community of developers before finally reaching a unanimous “go” vote from block producer candidates, leading to the launch of EOS v1.0.2 mainnet on June 9.

The EOS block producer election will select 21 superdelegates from over 200 candidates worldwide to guide the future scaling of the EOS ecosystem.

In early June, Weiss Ratings – the nation’s leading independent rating agency on project investment/technology potential – gave EOS a generous “B” rating over leading cryptocurrencies Bitcoin and Ethereum, which were both given a “B-” score.

Cardano, currently ranked #8 by market cap, is up 0.81% over the past 24 hours. ADA has a market cap of $4.63B with a 24 hour volume of $86.15M.

Chart by CryptoCompare

Cardano is up 0.81% over the past 24 hours.

On June 9, Cardano underwent a brand redesign to better illustrate the organic growth of the project – drawing inspiration from YouTube creator, “Crypto Gource.”

With the assistance of creative minds within the Cardano community, the IOHK team reworked the Cardano roadmap and leveraged the technology behind the video — Gource — to make it available via each Cardano website.

Related Article: IOHK Redesigns Cardano With Brand Refresh, Releases Updated ADA Roadmap

The redesign of the Cardano roadmap revealed progress in its early 2018 partnership with Zencash set to develop blockchain-based solutions for financial services in countries where traditional banks are inaccessible

The Cardano team continues to make steady progress on the Daedelus wallet — a release published in late May saw the addition of paper wallet functionality to the wallet, coupled with asynchronous wallet restoration and a range of minor ease-of-use improvements.

IOTA, currently ranked #9 by market cap, is down 0.32% over the past 24 hours. IOT has a market cap of $3.86B with a 24 hour volume of $73.62M.

Chart by CryptoCompare

IOTA is down 0.32% over the past 24 hours.

Announced on June 8, IOTA teamed up with Volkswagen in an effort to integrate blockchain technology with the future automotive industry.

Related Article: IOTA and Volkswagen to Demonstrate Tangle-Driven Proof of Concept at Cebit 2018

IOTA’s upcoming demonstration with Volkswagen will occur on June 12 at the Cebit 2018 conference in Hanover, Germany. The demonstration will reveal the core goals of the partnership in establishing a process to facilitate secure over-the-air updating of vehicle software via an immutable storage medium.

In early May, IOTA released their obscured Qubic project as a new protocol layer for the IOTA Tangle.

The project’s mission statement describes how Qubic gives the IOTA platform greater functionality:

“Specifically, Qubic is a protocol that specifies IOTA’s solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle.”

On May 31, IOTA announced a partnership with Norway’s largest bank, DNB ASA, to explore the integration of IoT-focused distributed ledger technology with their existing infrastructure.

Stellar, currently ranked #7 by market cap, is up 0.1% over the past 24 hours. XLM has a market cap of $4.67B with a 24 hour volume of $48.66M.

Chart by CryptoCompare

Stellar is up 0.1% over the past 24 hours.

Announced in late May, Stellar will hold its “7th Stellar Build Challenge” to allow community developers the opportunity to collaborate on Stellar-related open-source projects and contribute new features to the network.

Having held six Stellar Build Challenges (SBC) prior to this one, the community-oriented event has produced some of the most notable features of the Stellar network, including the Senseo Stellar iOS SDK client library.

Co-founder at Stellar Development Foundation, Jed McCaleb, described the intent of SBC:

“The build challenge is simple by design: it’s an experiment to find ways to develop services that are fair, affordable, and community-driven, and at the same time drive uptake of the Stellar network to maximize efficiency and reach.”

TRON, currently ranked #10 by market cap, is down 1.29% over the past 24 hours. TRX has a market cap of $3.14B with a 24 hour volume of $236.43M.

Chart by CryptoCompare

TRON is down 1.29% over the past 24 hours.

In late May, TRON initiated their migration off the Ethereum blockchain and onto the native TRON MainNet, Odyssey 2.0.

Although it officially launched on May 31st, Odyssey 2.0 will remain in beta testing throughout June. It will formally transition on June 25th, at which time TRON token migration will be complete and the MainNet will operate as an independent blockchain entity.

Related Article: TRON Transitions to Native Blockchain with Odyssey 2.0 Release

On May 25, TRON announced a partnership with non-profit vSport Chain to develop the first World Cup Prediction Platform based on blockchain technology.

Described in the official press release, TRON and vSport have joined together to “share resources, collaborate on technical challenges, deliver premium content, build communities, and expand their reach.”

Conclusion

The global cryptocurrency market cap stands at $300.64B with a 24 hour volume of $15.41B. The Coinbase Index is currently sitting at 3247.83. Bitcoin dominance is currently at 39.08%.

The overall cryptocurrency market is in a bearish downtrend, despite several of the top ten coins recovering from the red. On Sunday, Bitcoin (BTC) dropped below $7,000 for the first time since late March. Traders are reminded to remain cautious during market drops and only invest what they can afford to lose.



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