Altcoins July 1, 2018 Daily Hodl Staff

IOTA Wallet Update, Progress at Enigma, and Predictions on ETH, EOS, XRP and LTC

From a testnet launch to predictions on four of the top coins on the market, here’s a look at some of the stories breaking in the world of crypto.

IOTA

IOTA just dropped new details on its Trinity wallet update. It includes a long list of bug fixes and improvements on both the mobile and desktop version. Trinity core developer Charlie Varley says a more comprehensive update is coming in the next few days.

Enigma

Enigma has officially launched its initial testnet. The release is a “self-contained network” that “allows external developers to build their first secret contracts.” You can find out more about the testnet and Enigma here.

Crypto Hedge Fund “Long on Ethereum and EOS, Short on XRP and Litecoin”

Multicoin Capital, the crypto hedge fund backed by Andreessen Horowitz’s Marc Andreessen, is revealing its take on four of the biggest cryptocurrencies by market cap.

The co-founder of Multicoin Capital Kyle Samani told Fortune that issues with the EOS blockchain launch aren’t changing his bullish outlook on the platform. “I concur that it wasn’t as good as it should have been given the resources they had, so they made some mistakes, and slipped up. But on a long-term time horizon those are rounding errors, they don’t really matter.”

As for Ethereum, Samani says the platform’s “relative maturity and explosive growth in popularity” make it his number one pick to hold for the next ten years.

Samani said he believes XRP will be classified as a security, something Ripple strongly disputes. “It’s quite clear to us that Ripple is a security,” he said. “We don’t know when that news is going to drop, but the catalysts seem to have kind of gone away from Ripple.”

Last but not least, Samani thinks Litecoin is “just sitting around” and believes the fork of Bitcoin has “no reason” to exist. “The only investment thesis I’ve ever heard for Litecoin is it’s a testnet for Bitcoin, but that’s not an investment thesis.”