BlockDAG's Hackathon Draws 10,000 Developers, Presale Surpasses $215.3 Million

BlockDAG, a rising star in the layer 1 cryptocurrency space, has launched a global hackathon series in collaboration with HackerEarth, attracting over 10,000 developers. This initiative aims to foster the development of decentralized applications (dApps) and solidify BlockDAG's position as a leading execution layer. The hackathon, which combines virtual challenges with live events, has already seen the creation of over 200 dApps across various sectors, including DeFi, gaming, and smart contracts. Winning projects will receive BDAG coins, mentorship, and expedited access to grants, providing a significant boost to early-stage ideas.

As BlockDAG progresses towards its $600 million presale target, the expanding developer ecosystem is solidifying its status as a formidable layer 1 cryptocurrency. The presale has already amassed over $215.3 million and sold 19.2 billion coins, with each coin priced at $0.0248 in its 27th batch. Early supporters are enjoying a staggering 2,380% return on investment (ROI), and the excitement continues to build as BlockDAG moves closer to its goal.

Monero (XMR) is also making significant strides, with its price recently escalating by 13% over the past week and a 12% gain year-to-date. Currently priced at $218, XMR is mirroring patterns that preceded its 2021 surge. Analysts predict that if these patterns persist, XMR could quickly climb towards $235 and potentially $263. This optimistic outlook is supported by increasing trading volumes and favorable metrics on the Bull Bear Power indicator. Although XMR may encounter resistance, historical and on-chain data indicate the potential for further gains, with the $300 level as a possible near-term target.

IOTA, another key player in the crypto space, is preparing for a pivotal reversal with an upcoming significant upgrade. The Rebased upgrade aims to introduce full decentralization and MOVE-based smart contracts, enhancing transaction throughput. The IOTA price is currently near its multi-month lows but is challenging the wedge’s resistance. Breaking through could propel it towards the $0.35 mark seen earlier in the year. With rumors suggesting the upgrade could launch as early as next week, traders are optimistic about a price increase based solely on anticipation. However, if IOTA fails to breach the resistance, the price may linger near the $0.20 support as the market seeks more definitive signals.

As BlockDAG, Monero, and IOTA continue to make strides in the crypto space, their developments are closely watched by stakeholders and observers alike. BlockDAG's hackathon series is not just a coding contest but a sign of growing momentum for a network that is already attracting significant attention. As new developers join and testing progresses, BlockDAG's role in the Layer 1 discussion is increasingly evident. Early backers have already witnessed a 2,380% ROI, and with the presale surpassing $215.3 million, observers on the sidelines might want to reconsider before BDAG’s next price surge.