IOTA Price Analysis: Focus on Development Projects, and Tie-ups with Automobile Giants Are The USP of Altcoin

IOTA is getting a lot of buzz from the automobile industry. Earlier it made a partnership with various automobile giants, and now the news regarding Jaguar came out. According to a report in Reuters, the automobile giant is developing a wallet that will be installed into their vehicles and will reward drivers with IOTA chips for sharing information such as traffic conditions, or potholes via automatic sensors connected navigation providers or local traffic authorities. This will help IOTA (MIOTA) is catching mainstream attention.

Current Statistics: (On May 29, At UTC 08:31)

• IOTA vs USD Price                                      47888316 USD
• IOTA vs Bitcoin Price                                   00005560 BTC
• Current Return on Investment                     30% (Negative)
• Market Rank                                               15^th
• Total Market Cap                                         1,325,768,306 USD
• 24-Hour Volume                                          89,915,611 USD
• Circulating Supply                                       2,779,530,283 MIOTA

IOTA Price Comparison:

• IOTA (MIOTA) hit the top of Bollinger chart on Dec 19, 2017, and traded at 5.69 USD, nevertheless, the same year on July 15, it touched the all-time low of $0.147933 USD.
• Again, the high and low for the previous day in the altcoin was at 0.498817 USD and 0.418719 USD respectively.
• While the crypto opened yesterday at 0.437865 USD, it closed the intraday trading at 0.481277 USD.
• In an intraday trading for yesterday, there was a positive change in the value of the coin and was 0.043412 USD (9.91%), with a trading volume of 81,894,004 USD.
• Again if you look at 4-week price change, on May 04, IOTA (MIOTA) was around 0.29502266 USD, and in a gap of 25-days, its value strengthened by huge 62.32%.

IOTA (MIOTA) Price Prediction:

If you look at the price chart, IOTA has followed the bullish run in the market and there is a sharp upward movement toward the upper side of the spectrum. Although yesterday was a slightly adverse trading day for IOTA, the development team’s focus on projects and continuous tie-up with various brands in automobile space is a good thing for the crypto in the long run. As per IOTA Price Forecast, there is a resistance level at $0.5, however, if IOTA breakthrough it, there is speculation that the altcoin will hit $2 mark by the EOY.