- IOTA (MIOTA) and Avalanche (AVAX) have been enjoying excellent market conditions.
- The Hornet update caused the IOTA price to upsurge suddenly.
- AVAX has gained popularity due to its low fees and rush incentive system.
Data shows that IOTA (MIOTA) and Avalanche (AVAX) have been enjoying excellent market conditions. These two cryptocurrencies are considered as one of the potential altcoins as it makes many well-known firms as partners. In fact, the price of IOTA (MIOTA) and AVAX has increased by over 80% and 280% respectively in the last 30 days.
Reason for IOTA Current Price Surge
IOTA is showing a bullish trend. As per CoinMarketCap data, the IOTA price is at $1.69, at the time of writing.
The platform is designed for microtransactions and is considered as a reliable platform. In addition, the Hornet update caused the IOTA price to upsurge suddenly.
This brings automatic peering back and merges a faucet plugin alongside the Hornet node. Even more, the platform simplifies the method of running a private Tangle.
— IOTA (@iota) September 2, 2021
Added to this, the speculation over the Nectar upgrade will enable IOTA smart contracts, leading to a recent price surge.
For everyone interested in #IOTA:
1) IOTA 2.0 (fully #decentralized, #feeless and leaderless consensus) is live on a testnet for months. Read about our peer-reviewed research https://t.co/FEzyQGFhsB and follow the development https://t.co/ImXymSgQoG
— Dominik Schiener (@DomSchiener) September 2, 2021
Furthermore, the network also develops an upgrade alongside Firefly, a new wallet option. More so, the wallet aims to remove the complexities of crypto while staying future-proof because of its modular architecture, making it easy to incorporate new features in the future.
Reason for Avalanche Current Price Surge
Avalanche (AVAX) has gained popularity due to its low fees and rush incentive system. Recently, Avalanche Foundation announced an investment round from a venture capital group led by Three Arrow Capital and Polychain Capital.
Moreover, the $230 million raised helps support liquidity in the network’s DeFi ecosystem. In addition, the Kyber Network also released its automated market maker (AMM) on the blockchain of Avalanche as part of its $180 million incentive program.
As per CoinMarketCap data, the AVAX price is trading at $74.42 with a 24-hour trading volume of $2,572,361,380, at the press time.
The AVAX price surges over 30% in a week. If the bullish trend continues, the AVAX price can reach great heights soon.