Both, Tezos (XTZ) and IOTA price have surged by over 15% in the last 24 hours. Some cryptocurrencies in the crypto market are attracting a large number of investors and these two coins are certainly showing they have high-standard solutions to offer to the entire crypto community.
Tezos and IOTA Surge
During the last few weeks, there have been days in which altcoins moved higher and allowed traders to make some interesting profits. Two of these cryptocurrencies are now Tezos and IOTA, which are showing to be the largest gainers among the top 20.
According to data provided by CoinMarketCap, IOTA was able to surge 17% and reach a market valuation of $1.13 billion and a price of $0.408229. At the same time, Tezos moved 16% higher and reached a market cap of $3.17 billion and a price of $4.28 per XTZ.
One of the main reasons why IOTA received such large support from the community is related to the launch of the first phase of Chrysalis. This is going to represent one of the major upgrades to the IoT network allowing it to perform 1,000 transactions per second and 10-second confirmation times.
This was released by the IOTA Foundation on Twitter and they consider that the upgrade will bring an entirely new experience to using the IOTA network.
Coming next week! The first phase of #Chrysalis (IOTA 1.5) on our #mainnet with significant performance, usability, and reliability upgrades. With over 1k TPS and 10 second confirmation times, this upgrade will bring an entirely new experience to using the current #IOTA network. pic.twitter.com/1gJ50mVM1x
— IOTA (@iotatoken) August 10, 2020
It is worth mentioning that networks upgrades are very important for blockchain projects. One of the crypto projects that experienced large gains in recent times was Cardano (ADA) and Chainlink (LINK).
At the moment, Chainlink (LINK) and Cardano (ADA) are among the top 10 cryptocurrencies in the world with $4.62 and $3.7 billion market capitalization, respectively. This shows how bullish investors were about these two cryptocurrencies in the market.
Cardano launched its Shelley network upgrade that makes the cryptocurrency one of the most decentralized and advanced in the world. Many consider that it can certainly be a competitor to Ethereum (ETH) and attract a large number of users and developers.
As the entire market turns bullish several altcoins will start gaining traction and gaining a large number of investors over time. This will push the price of these assets higher and help them reach higher positions in the market.
At the time of writing this article, Bitcoin (BTC), the largest cryptocurrency in the world has a price of $11,850 and a market capitalization of $218.73 billion.