The IOTA price goes up over the past couple of days as the German Ministry chooses the IOTA Foundation as a hackathon finalist, the latest cryptonews show. In more details, the company behind the MIOTA token has been selected as a competition finalist to develop innovative solutions and fight COVID-19.
As we can see, IOTA has been moving higher in the past few weeks following the printing of the all-time low in March. Buyers are eyeing a trip to $0.30 as the IOTA price goes up – and are predicting a good trend that may last in the couple of next weeks.
For those of you who don’t follow our IOTA news, you should know that the token MIOTA (which is the native token of the project) gained nearly 10% last week only as the market continued to recover from the March lows.
Separately, the German Federal Ministry selected the IOTA foundation among the finalists in the competition to develop innovative tech solutions and help fight the COVID-19 outbreak. The IOTA Foundation was among the 20 companies which can develop digital tech to help fight the COVID-19 virus.
As announced, the event “The Smart Development Hack” took place on May 14 and May 15, held under the motto “let’s hack the coronavirus” and backed by the BMZ. Over 1,000 digital solutions were submitted by more than 150 participants. Among them, 20 were chosen as finalists and the IOTA Foundation was one of them.
Now, the MIOTA price chart above suggests that the IOTA price goes up following these news. However, besides the altcoin itself, the German ministry believes that the technology behind the coin can help a lot in the future.
“Our goal is to build on existing digital solutions and to refine and scale them with partners – across countries and sectors. The Hackathon is intended to adapt proven solutions locally and to promote innovations that provide digital help directly on the spot,” the German Ministry stated in an announcement.
Currently, IOTA is trading within the ascending wedge, which is considered a bearish chart formation.
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However, one break of the wedge’s upper line should picture a move higher as the buyers eye a trip towards $0.30 for the coin.
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