- IOTA currently trades at $0.29
- The project has entered into an array of partnerships in recent times
- MIOTA currently ranks twelfth on CoinMarketCap
It seems the crypto winter has lasted longer than what people would have hoped for. There was no bull run in Q4 2018, nor did the altcoins give 10x, 20x returns over the year-end. However, it’s during this prolonged silence that developers and industry proponents do the majority of the unnoticed work. Hours of continuous work during bearish times culminates into “sudden boom” of the industry.
MIOTA Coin Position
One of the communities every crypto analyst should consider adding to their portfolio is IOTA (MIOTA), which continues to deliver on its promises, forcing the cryptoverse to keep a keen eye on this project throughout 2019.
Currently, MIOTA trades at $0.29 with a total market cap of $821 million and 24 hours trade volume of $11 million. The altcoin ranks twelfth on CoinMarketCap, and it looks like it could very soon breach the territory of top 10 altcoins.
Looking at the seven-day chart for MIOTA, it can be inferred that the coin has been on a downward trend – almost 25 percent fall since January 7, 2019. The sentiment has been dominated by the bears, with occasional an increase in its trading volume. The coin is treading the waters at $0.275 support level, with a resistance of $0.30.
Recent Developments in the IOTA Universe
2018 was inarguably one of the most prominent years for the majority of the cryptocurrencies, and MIOTA is no exception. The year started from the peak of crypto frenzy and has since tumbled down continuously, much to the dismay of the industry players.
With regard to IOTA, the community has no dearth of developments to boast about. BlockchainReporter reported on January 12, 2019, about the project’s partnership with ElaadNL. The latter built a proof of concept wherein the smart grid could autonomously balance itself through sharing data via IOTA.
Similarly, on January 9, 2019, reports emerged about IOTA’s partnership with Crypto Storage AG where the latter will offer enterprise-grade MIOTA storage solutions to institutional clients. The Germany-based project also formed an allegiance with the IBCS Group to propel the use of IOTA’s Tangle in the supply chain management space.
That’s not all. On January 11, 2019, BlockchainReporter informed its audience about IOTA’s collaboration with Odyssey Hackathon to foster adoption of the Tangle for real-world use cases. This partnership will provide a much larger platform to IOTA’s Tangle, as developers at the Hackathon will be able to build Tangle-based solutions. Notably, Odyssey Hackathon is the world’s largest blockchain, AI, and IoT hackathon.
All this is just within the first two weeks of the year. While these developments might not translate into giant upward strides for MIOTA in the short-run, one should not give up just yet. Although the infrastructure and technology are still at a very nascent stage, historically time has rewarded the ones with a lot of patience. So HODL on.