IOTA Gains 16% Overnight With Fujitsu Announcement
IOTA, the automotive and electronics focused blockchain protocol, is up 16 percent today following last weeks announcement by Fujitsu that it’s ready to start integrating the technology into its systems.
Fujitsu Program Manager Leopold Sternberg said the Japanese technology giant is “well-equipped to help roll out IOTA as the new protocol standard” and spoke of Fujitsu’s aims to “develop and co-create innovative technology together with customers.”
#Fujitsu is the leading Japanese information & communication technology company & the world’s 5th-largest IT services provider. Fujitsu offers a range of technology products, solutions, & services. Approximately 140,000 employee support customers in more than 100 countries. #IOTA pic.twitter.com/13pC5dXarD
— IOTA News (@iotatokennews) August 24, 2018
The price rose above $0.60 this morning as the Asian business week started, up from $0.52 early yesterday. Last Thursday on August 23rd it saw a weekly low of $0.46, showing a very impressive 25 percent gain over the week.
The IOTA Foundation have been working hard lately to promote its technology in the automotive and electronics industries. It’s recent collaboration project with Volkswagen, Digital CarPass, is also nearing completion. The project uses the IOTA protocol to gather telematics data from vehicles and track mileage for used car dealerships.
Analysts predict the price of IOTA may experience resistance at $0.61. If it manages to break its monthly high of $0.64 then it could possibly continue as high as $0.79. If a negative trend ensues, however, then it may only get support at $0.54.
IOTA has a current market capitalization of $1.67 billion and average daily volume of $47.9 million, maintaining its place at number 10 on CoinMarketCap.
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