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IOTA’s Price Nosedives But the Foundation’s Projects Continue Strong

Avatar newsbtc 9 months ago

It’s Invest Diva’s  Kiana Danial https://www.investdiva.com/ with News BTC and here is your cryptocurrency update. IOTA was among the top losers in top 10 on Monday despite rumors that the foundation is aiming to hit $5 through its partnership with Nordic Semiconductors. Unfortunately for IOTA holders though, the cryptocurrency took a bearish turn before even reaching a key resistance level and appears to be moving back towards the key support level of $0.44. We haven’t given up on IOTA though. According to their website, there are a ton of upcoming projects and those under active development within the foundation. Some of IOTA’s engineering projects include the Trinity wallet, Hub which simplifies IOTA’s exchange integrations, and Qubic which enables smart contracts, oracles, and outsourced computation on IOTA’s Tangle. Projects that are still in the research phase include a spam prevention and detection tool, an automatic peer discovery tool, and a cryptography spec which details all the cryptographic elements of IOTA. Looking at IOTA’s price action on the daily chart you’d notice that the crazy fluctuations we used to see in the cryptocurrency’s price a few months ago have definitely calmed down. IOTA’s price action has become smoother and is probably waiting for that renewed bullish movement in the cryptocurrency market as a whole to bottom-out towards the all-time-high levels. Now I’d like to hear from you. What do you think about IOTA’s upcoming projects? Do you think the bottom is near? Let me know in the comments, and subscribe for more updates!

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