We are at the cusp of a manufacturing revolution as IOTA is going to integrate the power of the Internet of Things (IoT) with its open distributed ledger technology. The combinations have the potential to start a new era of manufacturing excellence by taking the operating efficiency to an all-new different level.
So that you know, IOTA is an open-source distributed ledger, and now it aims to transform the manufacturing industry. The ledger allows seamless sharing of the data between different internet devices, which, in turn, will help to automate the processes in the manufacturing industry. It is seen as the most sophisticated way of sharing the data to automate manufacturing and expected to manifold the capability of computer numerical control (CNC) technology.
IOTA is relying on two primary components for making the manufacturing processes automated data integrity and feeless microtransactions. While the first component is going to make sure that data is shared in a very secure manner, the second component of the process helps in attaining real-time data transfer between devices connected through the internet. Both of these aspects are equally important as the absence of any one of the components could lead to a problematic situation. Data mishandling or operation delay leading to a decrease in working efficiency. IOTA, the distributed ledger, makes sure that communication happens between machine to machine in a seamless manner.
What makes this technology even more enviable is the fact that IOTA allows self-optimization during manufacturing operations. It will lead to more gains on operational efficiency while decreasing the repair and maintenance cost structure associated with the factory. Working towards the realization of the Industry 4.0 concept, IOTA technology provides the facility of a tamper-proof machine audit. It means you need not to be worried about the safety and security of data exchange happening between different machines. Indeed, IOTA technology has the potential to transform the future of manufacturing around the globe literally, and the IOTA foundation seems to have taken an edge in this fledgling segment.
IOTA Embarks Slight Improvement Over the Last 24 Hours
IOTA price movement has a history of astounding traders. The currency is popular for its hasty speed. The traders who have invested in the coin must be aware of the result-yielding proportion. The coin is anticipated to give good results to the traders.
The currency started dealing with the bear since the opening hours. However, recently, IOTA is seen marking improvement. The same has spiked hope among the intraday traders that the coin might fight the market pressure and close the day with a profitable digit.
IOTA Price Prediction
Yesterday, IOTA started dealing at $0.25818. The price slipped to $0.25410 within the next few hours. Later, the price escalated to $0.26848 by 5.6%, marking it as the highest point of the day. The price slipped to $0.2584 by 3.73%. Later, the IOTA price again picked up and touched $0.2662 by 3.05%. The currency dropped to $0.2634 by 1.10% in the later hours. The intraday movement of the coin reflected an overall improvement of 2%. Today, the coin started dealing at $0.2634. The price slipped to $0.2578 by 2.11%. Recently, IOTA has embarked uptrend once again. The price is currently dealing at $0.26223.
Unlike many other coins in the market, IOTA is currently indicating improvement. There are many coins in the market that are dealing at or below the major support level. Here, IOTA hasn’t breached the immediate support level. IOTA is recommended for long-term investors as it would bring the traders their desired return.
IOTA price analysis: IOT/USD catapults above $0.2660
- IOTA broke free from the recent tight range.
- IOT/USD may continue growing towards $0.2700.
IOTA, the 18th largest digital asset with the current market value of $748 million, has been growing strongly been growing on Thursday albeit the sell-off on a broader market. The coin has gained over 3% on a day-to-day basis. The coin hit $0.2679 high during early Asian hours and retreated to $0.2662 by the time of writing.
IOTA’s technical picture
IOTA is one of the best-performing coins on Thursday. The coin has been range-bound for several days after hitting the low at $0.2569 on November 11. However, a strong move above SMA50 (Simple Moving Average) 1-hour located on a psychological $0.2600, inspired a sharp growth towards the next barrier at $0.2663 (SMA200 1-hour). The price attempted a move above this hurdle but retreated back so far. Once it is out of the way, the upside is likely to gain traction with the next focus on $0.2700.
On the downside, the first line of support is identified at $0.2600-$0.2580. It coincides with the lower boundary fo the recent consolidation range. If it is broken, the sell-off is likely to gain traction with the next focus on $0.2569 (November 11 low) and $0.2438 (October 23 low).
IOT/USD, 1-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
IOTA’s Co-Founder Sells His MIOTA Coins, Community Led to Believe IOTA Goes Beyond Crypto
IOTA’a co-founder Sergey Ivancheglo says he quits working in crypto and has sold all of his crypto holdings, some now believe that IOTA’s overgrown being a mere coin
A short while ago, one of the IOTA founders, Sergey Ivancheglo stated that he leaves the cryptocurrency sphere and sells all of his MIOTA coins. That was announced during a Discord AMA session, reports Micky.
Leaving IOTA for good
Ivancheglo said that he leaves the IOTA Foundation so as to avoid the conflict of interests since he also works for other blockchain projects. He confirmed that his work on Qubic and Aigarth (both are IOTA-based projects) will continue. However, he does not want to deal with crypto any longer.
Ivancheglo did not name any other particular projects he is engaged with.
Earlier this year, in summer, he quit the IOTA’s board of directors and since then worked as an independent IOTA developer.
The community believes IOTA is much more than crypto now
In the comment thread, some of the IOTA community members assumed that Ivancheglo is quitting and selling all of his MIOTA stack due to one big reason – IOTA has evolved into a real protocol instead of being a mere cryptocurrency.
However, opinions split here.