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IOTA (MIOTA) Explodes To Record Highs On Internet Of Things Opportunity

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IOTA (MIOTA)
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IOTA is now the fourth largest cryptocurrency in the world, in market value, after an absolute tear in recent weeks. The digital currency price has surged by nearly 600% this month, consequently toppling Ripple’s XRP token for the fourth spot.

It is only a month ago that IOTA was valued at just $0.37. Ever since, it has registered a steady rise, reaching parity with the dollar as early as late last month. As bitcoin climbed to record highs of $11,000 and then to 14,000, IOTA punched through to record highs of $6. Its market cap now sits above $12 billion.

IOTA (MIOTA) Price Technical Analysis: Retracement Levels

IOTA (MIOTA) Price courtesy of coinmarketcap.com

The bullish trend in IOTA price comes as many casual investors learn about the cryptocurrency and its underlying technology. There is strong demand for IOTA among Asia traders given that the digital currency currently holds the highest trading volume on a number of exchanges such as Binance and Coinone.

Demand for IOTA cryptocurrency is not expected to diminish any time soon given that it’s trading volume has risen to over $2.46 billion. Very few cryptocurrency ever break the $1 billion mark.

 Internet Of Things Opportunity

The signing of a major agreement with Microsoft, Samsung, Fujitsu and others for business-to-business data sharing, is the immediate catalyst pushing IOTA price higher. The signing of the agreement has since catapulted the IOTA trading volume to historic levels significantly strengthening its price in the crypto space.

The agreement paves way for the creation of a blockchain based marketplace that will enable the sale of data. According to IOTA CO-founder David Sonstebo, the new marketplace will incentivize companies to sell data instead of letting them to go to waste.

“This next-generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real-world solutions, applications, and pilots for our customers,” said Microsoft’s Omkar Naik in a statement published on the IOTA Foundation website.

The cryptocurrency has the potential to have a significant impact on the Internet of Things thus explaining the attention it is receiving from the crypto community.

Free Transactions Fees

IOTA rise to stardom in the crypto space is mostly attributed to its Tangle System that creates and validates transactions. The system allows users to create transaction by validation thus leading to a more secure and immutable network,

The fact that system allows zero transaction fees has made it ideal for the data industry. This is because other legacy blockchain technology systems cannot handle micropayments for data among businesses. IOTA technology is thus expected to continue experiencing a growth in demand as the need for scalable free transactions continues to grow.

We will be updating our subscribers as soon as we know more. For the latest updates on MIOTA, sign up below!

Image courtesy of Schneider Electric Espana via Flickr

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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