If you have been following the altcoin IOTA recently, you probably saw it surging nearly 600% this month alone. This has a lot to do with the company’s launch of the Data Marketplace, which is now a product of a confirmed partnership with Microsoft.
A month ago, though, things were not this shiny for IOTA. The price of this virtual coin was valued at just $0.37 but has experienced a steady climb over the course of the following three weeks. It even reached parity with the dollar on November 27th, and punched through it’s all time high on November 28th.
December 5th Brings A New 22.24% Increase In The Price Of IOTA
Currently, the IOTA price is trading at an average of $2.93, marking another 22.24% surge on December 5th alone. With a market cap of $8.13 billion, IOTA is coming closer to Ripple and the fourth position on the list.
As we said above, the entire thing with this surge has a lot to do with IOTA’s Data MArketplace which is basically a Tangle-based solution built to help monetize data. This is also referred to as ‘the oil of the Internet of Things (IoT)’ which is a version that will run for two months and then see IOTA partnering with some of the corporate giants such as Microsoft, Samsung, CISCO and Volkswagen.
As the official announcement written by Microsoft’s Omkar Naik said:
“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,”
IOTA’s Trading Volume Reached Historic Levels In A Matter Of Hours
Hours after this announcement, the IOTA trading volume has gone to historic levels. There were more than 0 million IOTA trades bought in matter of hours and the demand for IOTA amongst Asian traders has been at the highest.
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IOTA is currently the highest volume trading pair on Binance and Coinone, with two IOTA pairs ranking within the top 10 on OKEx too.
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