We all know that Bitcoin, Ethereum and other big names in the cryptocurrency world are making the news daily. However, the same cannot be said for digital currencies like IOTA which sometimes make the news – but most of the time are idle in the leading Bitcoin news portals.
If you haven’t heard about IOTA, it is basically a cryptocurrency with a market cap of $5 billion and currently the #1 on the list of most valuable cryptocurrencies. As of recently, it attracted several German companies with deep pockets (including Volkswagen and Bosch).
In an interview with Bloomberg, the co-founder of IOTA Dominik Schiener shared his beliefs for new partnerships. He sees them as a potential opportunity for the “next growth cycle”. Also, IOTA is constantly in the news for the possible smart contracts technology and features that it may offer, but some say these are rumours.
What’s certain at this point is that all the developers and mathematicians hired by the company are paid in IOTA tokens and not fiat currency. Also, the IOTA foundation has gathered more than 300,000 Euros in IOTA donations from users of the currency (who want it to rise and improve over the years).
In the Bloomberg interview, Schiener stated that there is room for expansion of IOTA – especially because of his successful partnership alongside David Sonstebo, Sergey Ivancheglo and Serguei Popov. The company is based on Berlin and gained much more credibility amongst the masses.
Despite its slow and passive growth, IOTA is a name every crypto trader and investor should remember – and one that will rise and become one of the most valuable cryptocurrencies of our time.
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“Until we close below it, my probability of $1,300 remains a little bit lower; the […] we have a full candle below the moving average, it’s all over; we’re going to $1,300.’’In the top twenty list, Litecoin saw some daily gains up to 9 percent thus reaching a price at around $28,79 and this increase in price comes from the announcement that a booking website named Travala will start accepting Litecoin.
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“The numbers next to the line are the spread b/w the open and close for that day. There is nothing bullish about this chart until BTC reclaims $3,300. Your obsession to knife catch a ‘bottom’ is directly proportional to your account erosion,’’ Hsaka said.A similar sentiment is placed upon Ethereum as well as for Ripple when digital asset trader DonAlt said:
“If ETH makes it out of that horizontal and diagonal resistance combination, I’ll be turning into a dip buyer. For big ETH bears, this is the place to look for shorts. If this resistance fails I think we’ll go quite far. I’ll just observe and see how it does.”The daily volume of BTC has almost halved from $6.5 billion and the decline in volume shows a period of high volatility proving that most digital assets are dropping in price without a higher sell-pressure from sellers and bears. It is very unlikely that in the following months, a new set of investors will join the crypto market which will provide the market with some breathing space.
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