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Breaking News / Cryptocoins / IOTA

IOTA Breaches $2.00 Once More, Plus New IOTA Foundation Announcements

IOTA have had a very good run recently, with a pairing of two significant announcements. Firstly, their involvement within the MOBI mobilities project and as a result of the launch of their new Q project. Whilst the details of Q are still unknown at the moment, the pending launch date of the project set in June promises speculation to start to build as we enter the latter days of May.

For more information regarding IOTA’s work within MOBI, check out our full story, here- https://cryptodaily.co.uk/2018/05/iota-reaping-benefits-announcements/

For more information regarding Q, check out our full coverage of the announcement, here- https://cryptodaily.co.uk/2018/05/iota-continues-great-form-wake-qubic-announcement/

Over the past few days, IOTA have announced the appointment of two new key team members within the IOTA Foundation, notably Andrew Greve as Online Community Liaison and Michael Nilles as a member of the Board of Directors and as Chief Digital Officer.

According to Greve:

“Just as IOTA is on the cutting edge of technology, the IOTA Foundation and community are similarly on a cutting social edge. I believe that the open nature of the IOTA ecosystem and community push the redefinition of the relationship between organization and community to new levels. As such, I am honoured serve as the first steward of the Online Community Liaison role at the IOTA Foundation.”

Likewise, according to Nilles:

“The Industrial Internet of Things today is very powerful within individual industry sectors, but it lacks a decentralized and trusted machine-to-machine transaction layer to fully enable cross-industry ecosystems. The smart city of tomorrow for instance will require bridging autonomous mobility and intelligent buildings. IOTA with its Tangle based Distributed Ledger Technology is best positioned to fill this gap. I’m delighted to join the IOTA Foundation and become part of this transformational journey for many industries.”

You can read more about each appointment on their respective Medium posts from the IOTA Foundation:

Andrew Greve- https://blog.iota.org/welcome-andrew-greve-to-the-iota-foundation-d3b897113ce4

Michael Nilles- https://blog.iota.org/welcome-michael-nilles-to-the-iota-foundation-403feb15bb6a

How is IOTA looking today?

At the time of writing, IOTA is finally on the up, off the back of a bad weekend and a less than exciting start to the week. IOTA is valued at $2.04 and is up 7.02%. This weekend saw IOTA drop below $2.00, after recently riding highs of $2.61, this drop did encourage some concern within the IOTA community. Overall though, it does seem to be a small blip, with the currency now making tracks back up to $2.50.

An ultimate price for IOTA sits at around $5.00 so therefore, any movements towards $2.50 mark a significant half way point for the value of IOTA. In order to meet $5.00, IOTA needs to hit $2.50 and it also needs to prove that it can remain above this threshold.

Given the current climate, we believe this could finally happen, from then, $3.00 upwards will rely on some really big movements from the IOTA Foundation, hopefully the launch of Q next month will encourage this.

Overall, IOTA finally looks to be back on track after slipping as a result of the market plunge. Whilst this drop couldn’t be helped, it does highlight just how volatile cryptocurrencies are given that even well performing currencies like IOTA, can slip suddenly. Now we are back on the right path, let’s see how IOTA continues to move over the next few weeks, leading up to the launch of Q.


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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.