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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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