Iota Continues November Bull Run with Slew of Good News
November has been good to IOTA. At the beginning of the month, the altcoin was trading at just $0.33 on most major exchanges. In the middle of the month, it made a run-up to nearly $1.00, seeing a healthy correction afterwards back to the $0.70-$0.80 range.
But it seems like the days of sub $1.00 IOTA are long gone, especially in the light of their recent announcements. On November 27th, IOTA posted on Twitter that the Korean exchange Coinone would be listing their coin with KRW trading pairs. IOTA was already listed on the Korea’s OKDex, but this exchange only accounts for 0.44% of the coin’s overall volume. The Coinone announcement slung prices upwards, as Western investors speculated that the new listing will pump the coins volume and price even further.
IOTA saw a new all time high last night after the news dropped, topping out at $1.09, only to pullback to $1.04. The good news keeps rolling out, however, and this has pumped prices even further. At the time of writing, it’s knocking on the door of $1.30.
The price-favorable news comes in the form of partnerships and major roadmap milestones. At 10:09pm on November 27th, Crowdfund Insider tweeted that Lattice80, the world’s largest Finetech Hub, is partnering with IOTA to help launch their new innovation lab. As if this announcement weren’t enough to leave investors salivating, IOTA announced on the morning of the 28th that they will be partnering with Microsoft, Fujitsu, and 20 other companies to establish the first ever Internet of Things marketplace which will be publicly accessible and powered by a distributed ledger.
It looks like IOTA’s team has come to play ball with the bigboys of crypto, proving that their product is worthy of a top 10 marketcap evaluation. And these developments may just be the tip of the iceberg for their end of the year announcements. According to November 12th conversation in IOTA’s slack chat, the company hinted that 90% of their 2017 news would be released in November and December. We’ve likely seen a chunk of that 90% in the past two days, but it may be safe to say that great things are still to come in December–we’ll be keeping our eye on IOTA.