September ends with successful Ethereum-merge and Cardano-Vasil rises. Although prices have not yet caught the expected momentum, the developers are happy with the results. However, ETH and ADA were not the only altcoin projects that went through radical changes.
Among the top 50, this altcoin project is also going to a new rise
One of the first layer Blockchain networks Tezos has enabled a new scaling feature known as Kathmandu. According to the Tezos team, the Kathmandu upgrade was released yesterday evening (at block 2,736,129). Kathmandu is the eleventh update of Tezos, born in 2018. It holds the promise of potential scalability gains for Tezos.
The official proposal of the upgrade aims to improve transaction throughput by streamlining the block verification process. It also adds the potential to support off-chain computing through Tier 2 solutions such as optimistic roll-ups. Among other protocol enhancements, contributors added that Kathmandu has added a persistent testnet to try out new features and added enhanced randomness in the way the mainnet chooses delegates for added security.
Kathmandu was recommended in July by Tezos contributors and development companies Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori & Tweag. Through a voting procedure, the community then gave its consent. After the rise in the evening of September 22, the price of XTZ welcomed its new investors.
Kathmandu upgrade was enough to move XTZ price
XTZ price is trading at $1.53 after completing the Kathmandu upgrade in the middle of the bear market. We saw that the rises did not have an effect on prices, especially with the inflation peaking in the USA and Europe. Investors still remain uneasy about the deteriorating economic environment globally. Tezos price gained around 6% after the rise. However, profit takers did not allow XTZ to rebound from $1,550. A sustained support at $1,5170 is needed to avoid losses from deleting the weekly advance of XTZ price. However, it is currently waiting for more support from the bulls to do so on the daily chart.
cryptocoin.comAs you follow, Bitcoin and Ethereum have been struggling to recover since the September 21 Fed meeting. Bitcoin managed to end a series of sudden bear moves at $18,617.55.
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