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IOTA Keeps Making Friends with Large Companies

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As more and more large companies are becoming interested in the blockchain technology, they keep choosing IOTA as their blockchain research partner. The recent additions to IOTA’s partnership list include Volkswagen, as well as Japanese ICT conglomerate Fujitsu.

Volkswagen wants to bring blockchain on the road

Volkswagen has become known as a large supporter of the blockchain and crypto industry, and their partnership with IOTA is no secret. Right now, the carmaker is researching the new technologies in an attempt to find the way to make it improve vehicles and roads alike. Earlier this year, they confirmed working with IOTA in order to bring the blockchain on the road, and their recent tweet states that they are working hard on providing their customers with super-safe cryptosystems.

VW is currently exploring all areas of blockchain while trying to find all possible use cases that would tie their business to this technology. Many believe that the carmaking industry can benefit from this tech the most, via vehicle servicing, tamper-proofing, and even improving on the self-driving aspect.

The company’s IT Group has been exploring various concepts and potential benefits of implementing the blockchain technology, and have been discussing this with over 300 employees. With the self-driving cars quickly becoming a reality, and cars becoming more and more digitized, it is imperative that they are properly protected from hackers and any type of meddling with the vehicles’ systems.

These are the troubles of modernization, but VW firmly believes that IOTA’s blockchain has the potential to bring solutions that would eliminate this kind of concerns. The partnership was originally announced as far back as in January of this year. If the research bore fruit, this would mean massive progress for all 12 motoring brands that the VW group consists of. Those include Porsche, Lamborghini, Audi, Bentley, Bugatti, and more.

Fujitsu claims IOTA is a new protocol standard for audit trails

Another significant development for IOTA includes the Japanese firm Fujitsu, which has announced the launch of a new PoC, based on IOTA, and created for audit trail processes within the manufacturing industry. The new notice states that IOTA’s protocol will be used as a data storage medium for the audit trails. The goal here is to largely improve data security, data trust, as well as transparency of all processes.

The Program Manager at Fujitsu’s Industry 4.0 Competence Center from Munich, Leopold Sternberg, stated recently that the partnership would allow IOTA to become a new protocol standard. According to him, IOTA is perfectly well-equipped for this task, since it has a lot of experience with manufacturing industries, as well as in ICT services.

Through a joint effort, the two are hoping to bring a solution for supply chains and industry 4.0 manufacturing, both of which are facing data-related challenges.

Additionally, the notice describes a newly-proposed cryptographic ID system that would be used for various product components. The system would also keep track of the status of their production through a connection with nodes located on IOTA’s Tangle protocol, but hosted by Fujitsu itself.

Tangle is a new type of DLT, different from blockchain itself since it doesn’t use mining or blocks. Instead, it is built directly on a DAG (Directed Acyclic Graph). Basically, different kinds of transactions go on different chains at the same time.

The announcement of IOTA’s collaboration with Fujitsu has already reflected on the crypto’s price, which went up significantly since the partnership was first announced on August 25.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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