IOTA, the 4th largest cryptocurrency by market cap, has been trading in a strong bullish trend. The coin has been on a bullish momentum since the past week after a steady decline in the price. The coin has also been trading in a strong bullish trend over the past month, which shows that the coin is climbing the ladder of recovery.
IOTA is one of the few coins which has been steadily rising without any major dips or sudden changes in price. The coin has been rising steadily and the the coin which is the fourth largest in the market has been rising steadily without any major dips or sudden changes in price. The one which is the fourth largest in the market has been rising steadily without any major dips or sudden changes in price.
Is it just me or did IOTA of late look like a more bullish coin? IOTA bears had been heavy on the coin and it had been volatile in the past week, but it seems like this week this coin has been showing strong buying pressure. The coin has been making progress in the markets and more and more of the community is joining in increasing its user base.
- In the last week, the price of IOTA (MIOTA) has increased by more than 80%.
- Tangle is used by IOTA to achieve consensus and transaction verification.
- The present positive trend is expected to continue, and the price of MIOTA will shortly approach $3.
IOTA (MIOTA), a distributed ledger technology, has witnessed its price increase by more than 80% in the last week.
Tangle, a proprietary technology, is used by IOTA to achieve consensus and transaction verification. Tangle is also a node network that verifies transactions. Furthermore, the platform’s creators say that IOTA has quicker speeds than traditional blockchains, making it a good fit for rapidly growing the IoT ecosystem.
At the time of writing, the MIOTA price was trading at $1.78, with a 24-hour trading volume of $521,748,146, according to CoinMarketCap. MIOTA’s price had originally risen 34% to an intraday high of $2.08 on September 4, with a 55 percent increase in 24-hour trading volume to $140.587 million, up from a low of $1.546 on September 3.
Chart of the MIOTA/USDT Exchange Rate (Source: TradingView)
The preceding chart depicts MIOTA’s positive performance. If the current trend continues, MIOTA’s price will shortly hit $3.
The Reason for the Increase in MIOTA Prices
MIOTA is regarded as one of the most promising cryptocurrencies since it has a number of well-known companies as partners. Furthermore, the technology is optimized for microtransactions and has a long track record of reliability.
The Hornet version, which restores automatic peering and combines a faucet plugin with the Hornet node, has sparked a surge in interest in the project. It simplifies the process of operating a private Tangle.
Furthermore, anticipation about the Nectar update may boost IOTA smart contracts, contributing to the current price rise.
The network is also working on the planned update as well as a new wallet called Firefly. More importantly, the wallet aims to simplify crypto while being future-proof because to its modular design, which makes it simple to add new features in the future. Firefly, which will become an IOTA app store, will be built on decentralized identifiers (DID), smart contracts, and integrations. In addition, on August 2, 2021, SUSEE (Secure Sensor Platforms for Smart Energy Networks) accepted the IOTA tangle.
IOTA has been enjoying a very bullish run for the past week. It has broken the $0.5 and $0.6 resistance levels and has pushed up all the way to the $0.65 level. As we can see above, the price is currently trading at $0.67 and could be pushed even higher if the bulls continue to push the price higher.. Read more about what will iota be worth and let us know what you think.
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