This article will take a look at ten cryptocurrencies that have interesting developments lined up for the month of September, which could also have a positive effect on their price.
Cardano (ADA)
- Current Price: $3.03
- Market Cap: $91 Billion
- Market Cap Rank: #3
Cardano was founded in 2017 by Charles Hoskinson, who is also a co-founder of Ethereum (ETH). It is a proof-of-stake platform, whose native token is ADA. It is one of the biggest blockchain platforms to utilize the proof-of-stake instead of the proof-of-work consensus.
The Alonzo testnet was launched in May and the hard fork is expected to occur on Sept 12. It will allow the creation of decentralised applications (dApps) on the blockchain, potentially making it a competitor to ETH.
The Cardano summit will be held on Sept. 25. It will have seven events and 20 local meet-ups.
ADA has been increasing since it was trading at a low of $1.02 on July 20. So far, it has reached a new all-time high price of $3.08 on Sept 2.
This week, the network will test its new ERC-20 converter during the launch of the new testnet.
If ADA continues moving upwards, the next resistance would be at $3.34, the 1.61 external Fib retracement resistance level.
Kava.io (KAVA)
- Current Price: $8.10
- Market Cap: $642 Million
- Market Cap Rank: #112
Kava.io is a decentralized finance (DeFi) lending platform. Its three main use cases are that it enables users to invest, earn and lend their assets. One of the main selling points relative to other such platforms is the fact that it supports cross-chain assets.
After the release of the new testnet on July 28, the mainnet is expected to go live in September.
Just prior to this, KAVASwap will launch on Sept 1. It is a liquidity hub that bridges DeFi, blockchains, and financial services.
KAVA has been moving upwards since breaking out from a descending resistance line on July 24. It proceeded to reach a new all-time high on Aug. 22.
After validating the $7.30 horizontal support area on Aug 27, it initiated another upward movement and reached a new all-time high of $9.21 three days later.
Neither the MACD nor RSI is showing any definitive signs of weakness.
The next resistance is found at $11.90.
Zilliqa (ZIL)
- Current Price: $0.113
- Market Cap: $1.256 Billion
- Market Cap Rank: #81
Zilliqa is a public blockchain that has the ability to finalize thousands of transactions per second. It does this through the use of the sharding technique, which helps solve the issue of scalability. Furthermore, the Zilliqa platform is home to numerous dApps and also allows yield farming and staking.
ZIL completed a network upgrade on Sept 1. The upgrade will greatly improve network performance in different areas, including but not limited to:
- Memory clean-up
- Network stability
- Proof-of-work submission handling
- Node syncing
ZIL has been consistently rejected by the $0.115 resistance area since Aug 14. The rejection has been combined with a bearish divergence in both the RSI and MACD. In addition to this, ZIL appears to be breaking down from an ascending support line.
Therefore, it’s possible that it will continue decreasing in the short-term towards $0.085 before potentially breaking out.
ICON (ICX)
- Current Price : $1.43
- Market Cap: $927,258 Million
- Market Cap Rank: #100
ICON is a blockchain protocol that is mainly used for dApps. Its main focus lies in interoperability. Therefore, it helps different blockchains to operate with each other. The platform uses its native cryptocurrency, ICX, which is able to run smart contracts. Furthermore, it uses a novel protocol called delegated Proof-Of-Contribution.
A community airdrop will run between Aug 31-Sept 25. It will provide OMM tokens to various users of the ICON blockchain, more specifically those who provided liquidity and active voters.
ICX has been increasing alongside an ascending support line since July 20 and it reached a high of $1.61 on Aug 23.
However, it has fallen back to the support line once again. In addition to this, the MACD and RSI are both turning bearish.
The closest support is found at $1.13 while the next resistance is at $1.95.
Terra (LUNA)
- Current Price : $32.32
- Market Cap: $13.54 Billion
- Market Cap Rank: #13
Terra is a blockchain that uses stablecoins in order to power global payments systems. Therefore, it aims to combine the stability of fiat currencies with the speed and decentralization of cryptocurrencies. The native token is LUNA, which is used to stabilize the price of stablecoins in the blockchain. Furthermore, it is used for voting rights in governance proposals.
After the testnet launched on Aug 13, the Columbus-5 mainnet upgrade will launch on Sept 9. It will provide numerous updates that include dividend swap fees rather than burning them, in order to increase stake yields. In addition to this, it will optimize gas efficiency for voting processes.
LUNA has been moving upwards since breaking out from a descending resistance line on Aug 1. On Aug 29, it reached an all-time high price of $36.89. The high was made just above the 1.61 external Fib retracement resistance level.
There is some bearish divergence forming in both the MACD and RSI, a sign of a potential trend reversal.
The next resistance area is at $52.50. This target is the 2.61 external Fib retracement resistance level.
Coti Network (COTI)
- Current Price : $0.341
- Market Cap: $274 Million
- Market Cap Rank: #169
COTI is a blockchain platform that focuses on allowing users to create their own payment systems. It uses a novel consensus algorithm called “Trustchain.” The algorithm is based on machine learning and allows for the processing of more than 100,000 transactions per second.
COTI will begin with the deployment of on-chain smart contracts in September. Unlike numerous other blockchain projects that execute smart contracts off-chain, COTI will provide fully decentralized on-chain executions for its smart contracts. While smart contracts will be implemented sometime in September, the ability to deploy them on the COTI infrastructure should come sometime at the end of Q3.
COTI broke out from a long-term descending parallel channel on Aug 25 and reached a high of $0.49 the same day, moving upwards by a full 48%.
However, it was rejected by the 0.786 Fib retracement resistance level and has been moving downwards since.
IOST (IOST)
- Current Price: $0.045
- Market Cap: $668 Million
- Market Cap Rank: #114
IOST is an extremely fast decentralised blockchain network. It employs its own wallets and nodes. Furthermore, it employs a novel consensus protocol called “proof-of-believability.” The native token for the network is IOST.
The network also introduces different innovative technologies, such as Efficient Distributed Sharding, Atomix, and Micro State blocks.