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IOTA Market Analysis: IOTA’s Pollen testnet records 1,500 TPS, IOT/USD falls below pennant formation

  • IOTA has shared the early progress updates of its Pollen testnet just a week after its launch. 
  • Pollen recorded a peak performance of up to 1,500 transactions per second (TPS). 
  • Confirmation time for sending IOTA tokens on the Pollen network was between 10-12 seconds.
  • IOT/USD bears remained in control for the second straight day.

IOTA recently shared the early progress updates of Pollen, the first IOTA 2.0 testnet infrastructure, just a week after its launch. The firm noted that over 280,000 messages were sent between node operators, of which over 20,000 were value transactions. During the process of synchronizing a new node with the network, Pollen recorded a peak performance of up to 1,500 transactions per second (TPS). The firm said:

IOTA added that the confirmation time for sending IOTA tokens on the Pollen network was between 10 to 12 seconds. Sending non-token messages has taken less than 5 seconds. Commenting on this, the team noted:

This represents over a 12x performance improvement from the current mainnet. 

The IOTA Foundation noted that it plans to optimize the usability and user experience of the node software. The memory consumption to run a Pollen node is 340 MB on average, with a CPU usage of only 3.5%.

Since launch, all double spends registered by the network were resolved w/ full agreement by all nodes. It’s a great (early) achievement. More testing, attacking & validating to follow!

IOT/USD daily chart

IOT/USD daily chart

IOT/USD dropped from $0.2517 to $0.2508 as the bears remained in control for the second straight day. In the process, the price has also fallen below the pennant formation. The MACD shows sustained bullish momentum, while the RSI is trending alongside the overbought zone. 

IOT/USD has one strong resistance level at $0.254. On the downside, healthy support lies at $0.2407, $0.2315 (SMA 20) and $0.2269 (SMA 50).

Key levels

IOT/USD

OVERVIEW
Today last price0.25089
Today Daily Change-0.00080
Today Daily Change %-0.32
Today daily open0.25169
TRENDS
Daily SMA200.22995
Daily SMA500.22552
Daily SMA1000.1999
Daily SMA2000.20825
LEVELS
Previous Daily High0.25406
Previous Daily Low0.24016
Previous Weekly High0.2677
Previous Weekly Low0.228
Previous Monthly High0.257
Previous Monthly Low0.19602
Daily Fibonacci 38.2%0.24547
Daily Fibonacci 61.8%0.24875
Daily Pivot Point S10.24321
Daily Pivot Point S20.23474
Daily Pivot Point S30.22931
Daily Pivot Point R10.25711
Daily Pivot Point R20.26254
Daily Pivot Point R30.27102
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