IOTA Price Technical Analysis: How to Identify Good Entry/Exit Points when TradingĮntry and exit points have the potential to make or break your investment.
#Price of iota upgrade
IOTA has sometimes shown an upward trend due to its developments around the network upgrade and partnership with the Japanese government. Mainstream and social media news often impact the performance of the crypto market. IOTA then surged to a high above $2.50 in April 2021.
This could be predominantly due to the excitement around the network upgrade Chrysalis which improved the speed of transactions 50 times more than its earlier performance. In the subsequent months, IOTA showed a steady rise in the price till around September 2020 when the value rose to around $0.48. The coin, however, still dropped to $0.07 the day after Black Thursday. Interestingly, on 12 March 2020 when the market crashed, IOTA announced yet another significant partnership with TradeMark East Africa to bring supply chain transparency to trade infrastructure. This price, not surprisingly, declined to around $0.19 from $0.33 by 11 March 2020. Hackers found a vulnerability in the official IOTA wallet and stole funds worth $1.6 million. In February 2020, the entire IOTA network had to be shut down because it was hacked. However, 2019 was again not the best year for the crypto market and this was mirrored with the value of MIOTA dropping to $0.16 by the end of December 2019.
The value of the coin shot up to around $0.45 in May 2019. On 3 April 2019, IOTA was announced as the founding member of the New International Association of Trusted Blockchain Applications (INATBA). Another strategic partnership that joined IOTA in November 2018 was Bosch.ĭespite the significant associations being formed, the crypto market suffered great loss in 2018 and following that trend, IOTA’s value dropped to around $0.30 by the end of December 2018. In August 2018, Fujitsu announced its support for the IOTA platform which led to a price hike for the coin by about 21%. 2017 was a great year for all cryptocurrencies and in December 2017, IOTA reached its all-time high of $5.37. The protocol launched its mainnet in July 2016 while the coin started trading on exchanges from July 2017 with an opening price of $0.63. In December 2015, IOTA tokens were released as part of a crowd sale that was hugely successful with the platform raising around $500,000. IOTA was initially established under the name of Jinn and was announced in September 2014 on the NXT form. IOTA was founded by David Sønstebø, Dominik Schiener, Serguei Popov, and Sergey Ivancheglo.
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