IOTA in A New Partnership with ENGIE Lab CRIGEN - IOTA News, MIOTA Price. Monday, September 10
IOTA Cryptocurrency News
IOTA in A New Partnership with ENGIE Lab CRIGEN
The energy sector will soon have stronger links with the distributed ledger technology thanks to the new memorandum of understanding signed by IOTA Foundations, the non-profit organization dedicated to the expanded use of the IOTA Tangle technology, and ENGIE Lab CRIGEN. The partnership is aimed at using the Tangle technology in the energy industry which ENGIE Lab CREGEN wants to explore.
The company is a research center focused on gas, new energy source and emerging technologies and has been associating with the IOTA network but now wants greater collaboration in the use of the technology in for smart energy.
The IOTA Data Marketplace which is known as the most promising in the industry has attracted many corporate entities such as Volkswagen, Audi and Fujitsu. ENGIE Lab CRIGEN has been involved in many proof-of-Concept tests and is willing to try out IOTA technologies on the DLT that would be a fit for the energy industry.
Wilfried Pimenta de Miranda, head of business development of the IOTA Foundation expressed delight at the cooperation between IOTA Foundation and ENGIE Lab CRIGEN saying that it will advance the development and prototyping of new technologies in the power and utilities industry.
IOTA Making Massive Inroad in Germany
Germany is a strategic country industrially. In reality it is one of the world most impressive industrial hubs even with China’s massive manufacturing prowess. That IOTA is making inroad in the country is quite a big deal. A number of German top industries are already working in partnership with the IOTA Foundation. This is expected to drive crypto adoption since these industries have the financial and social clout to influence the consumer market.
With the leadership role of Germany in the Internet of Things advancement, it is a natural fit for IOTA. It is no wonder then that the foundation and network are gaining grounds and goodwill.
Beyond goodwill from the industries, the foundations has been getting positive signals from regulators as evinced by the fact that IOTA is among the key presenters in the annual economic summit between the 12th and the 14th of November hosted by Suddeutsche Zeitung, a major German newspaper. Aside the German Chancellor and the European Commission president, IOTA’s Dominic Scheiner will be among the speakers.
IOTA is Striving to Recover But Weakly
The daily trade volume of IOTA is down to $36 million as the coin moves in synch with most altcoins against the dollar in the effort to recover from the current slump. As a disadvantage acts the fact that the whole market is still being led by Bitcoin's price movement. When it comes to the top cryptocurrencies, Ethereum seems to be hit the most by the current price falls.
IOTA has lost nearly 20 percent of its value in the past week currently trading at $0.57 with a daily trade volume of $8.9 million in Bitfinex and $4.8 million in Binance.
The 50 day SMA shows the coin capped at $0.592 according to the 1 hour chart. This is still below the $0.600 psychological mark needed to be bridged if the coin is to make a sustainable progress towards the $0.7000 target.
The main support of MIOTA cryptocurrency is currently located at $0.530 although there is an intra day at $0.572.
MIOTA/USD Price Chart, Monday September 10th:
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