Crypto Loves IoT: Binance Lists IoTeX (IOTX); MoU For IOTA and Norway’s Largest Bank

Business chart with upwards arrow

As June gets underway, IoTeX’s IOTX and the IOTA Foundation’s IOTA, two cryptocurrencies representing two of the world’s most prominent technological trends – distributed ledgers and internet-of-things (IoT) – have been the darlings of the cryptocurrency market.

Notably, IoTeX (IOTX) is up some 115 percent over the past 24 hours after the world’s leading cryptocurrency exchange, Binance, announced its listing on Friday afternoon (JST).

The hefty jump in price has been enough to see IOTX penetrate the top 160 cryptocurrencies (by market cap). And understandably so, for the cryptocurrency enabling IoTeX – the first privacy-centric blockchain infrastructure for IoT – had previously been tradable on just two lower-volume exchanges, and KuCoin; both of which listed it just last week.

The much more established IOTA cryptocurrency also saw sizable gains on Friday, rising by 10.6 percent over the same stretch as IOTX; the most of any top 20 cryptoasset. Prompting the jump in value was a late-Thursday evening press release from the IOTA Foundation announcing that they’d signed an MoU with Norway’s largest financial services group, DNB ASA (Den Norske Bank).

Per the announcement, both DNB and IOTA will collaborate in an effort to explore how IOTA’s Tangle technology – best known for being built as a directly acyclic graph (DAG) rather than a blockchain – could prove valuable to the bank’s transaction-heavy data infrastructure.

It caps a busy week for the IOTA Foundation, having announced the beta release of their much-anticipated Trinity Mobile wallet app. Additionally, they welcomed Dr. Richard Mark Soley and Mathew Yarger to the team; their 24th and 25th hires in the past 22 weeks.

Related posts