After wandering in the wilderness for better part of August, IOTA (MIOTA) appears to have gotten the groove back after getting a major boost from a Japanese tech giant. The surprise support will see the crypto outfit maintain its leadership in the IoT market despite the increasing competition from young player in the blockchain industry.
The month of August has seen the IoT focused coin shed over 35% that saw investor confidence dip sharply. The coin hit an all-time low of $0.4 mid-August sending it to the list of the worst performing Altcoin in a span of 9 months. The entire market has been hit by a sell off and MIOTA has not been spared.
IOTA (MIOTA) Partnership with Fujitsu
Fujitsu is a respected Japanese tech company that has a global audience. In its announcement, the IT giant has picked IOTA to help it make inroads into Industry 4.0. The blockchain will be the “latest protocol standard” that will enable fast data exchange and automation in the manufacturing sector.
The Program Manager at Fujitsu, Leopold Sternberg, was quoted as saying:
“Fujitsu is well-equipped to help roll out IOTA as the new protocol standard as we are experts in both IT services and the manufacturing of IT products.”
He went ahead and added that:
“Product quality is a critical success factor for the Manufacturing Industry. Assembled products can consist of hundreds of components and their production is based on complex processes. For audit trails in industrial production environments and supply chains IOTA provides a single source of truth.”
The timing appears just right as comes days after the community celebrated the release of the Trinity beta wallet. The wallet is more function and you can use it to access multiple accounts by just using a single password and what’s more; the wallet is available for mobile for those on the go as well as for your desktop.
The different access points for the Trinity wallet means users will have various gateways to access their funds whether in the office, home or on the go. With enhanced features, it is also more users friendly and easy to navigate thus a good tool for new users.
IOTA (MIOTA) Price Surge
It appears Fujitsu has played a huge part in the MIOTA price surge. After the announcement, the coin appreciated by 11% against the dollar to trade at $0.58 on Monday morning to mark the highest surge the coin recorded during the previous 7 day trading period.
The momentum seems to hold for the IoT outfit which has seen the MIOTA coin trade at $0.764765 in the last 24 hours put after gaining 13.10% against the dollar and 10.64% to Bitcoin. These recent gains have seen reduced MIOTA fluctuations with a possibility of climbing to the $1 mark in the coming months.
MIOTA is ranked the 10th most valuable coin by market cap which stands at $2.1billion and its native coin, MIOTA has made huge strides in the IoT sector and its real life use cases continue to grow with major partnerships already in place and more lined up. However, all might not be well behind the scenes for the IoT market leader
IOTA Latest Controversies
Despite its prominence in the market, IOTA continues in its journey to increase its partnership. A recent deal with Audi Berlin has seen the coin continue to dominate the auto industry in the provision of various IoT solutions including data dissemination and automating processes.
With the recent chat between the platforms co-founders is a case of infighting which might end up in to missed opportunities in the market and sowing down the strides the outfit has been making for the last 12 months. The chat indicated the one of the co-founder Sergey Ivancheglo showed the intent to outs hid partner, Dominik Schiener.