IOTA Gains 16% Overnight With Fujitsu Announcement

Golden IOTA coin in fire with bull trading stock chart.

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.”

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.

Image From Shutterstock

Related posts