Altcoins have been on the rise in the past 24 hours and IOTA and Cardano are two of the horses out in front.
Just yesterday Cardano was in the red and losing value at a rate of close to 10%, but today the coin was among the top gainers. Cardano’s 5% growth rate and strong volume show show that many traders saw opportunity as the coin fell the previous day.
With this most recent surge Cardano is closing in on a 3 billion dollar market cap. This is yet another example of the see saw action that investors and traders have to deal with.
IOTA has seen strong gains and volume in the last 24 hours as well. The altcoin, famous for its tangle, is pushing 5% growth as well today with strong trading volume.
Cardano and IOTA are two of the more ambitious projects in the cryptocurrency space. IOTA is amino to take the “internet of things” and integrate it into everyday life. They are looking to have appliances, media devices, and other tools interact in ways that make not only business and money move more easily and efficiently but the way people interact with these devices and each other.
They recently partnered ENGIE Lab CRIGEN to create a smart energy ecosystem. This partnership and goal of efficient energy use is a perfect example of how IOTA intends to force his way into society.
Cardano, created by Ethereum co-founder Charles Hoskinson and his company IOHK, is taking a very scientific and academic approach to building their protocol. While building Cardano, IOHK has used peer review processes to ensure they are on the right tract while also bringing blockchain and cryptocurrency to mainstream academia.
The coins with scientific approaches are subject to the rollercoaster crypto ride just as the coins and tokens that are all hype.
