IOTA (MIOTA) was one of the best performing cryptos over the weekend. It pushed up by over 15% to trade above $0.55. This was mainly driven by a tweet yesterday about the test of CarIOTA II. Basically, this is a car that is connected to the IOTA tangle, and data can be accessed securely on the tangle, through a laptop or any other device. While it’s just a test and at a very small level, it goes to show the in-roads that IOTA is making in the mobility industry, a multi-billion industry that IOTA is already disrupting.
Today, more good news are coming out with regards to IOTA, news that will give it the momentum to keep growing, going into the future. EToro has announced that they will start offering IOTA (MIOTA), as part of its growing list of cryptos that investors can trade on the platform. Check the announcement on this tweet below.
While eToro is a CFD platform, which makes it quite different from a conventional exchange in terms of how investors interact with their coins, it is still something positive for the IOTA community. That’s because it introduces IOTA to a wider audience, which will spur demand. EToro is one of the best-known forex platform in the world, and transacts millions of dollars on a daily basis. If a good percentage of this money starts flowing into IOTA, it will add to this crypto’s demand, as well as the liquidity needed to give it a push in price going forward.
All these are great news for a crypto that is already proving to be of real utility in the new AI driven economy. A few month ago, ElaadNL announced the launch of the world’s first smart charging station. Through this station, vehicles that have the required hardware and software are able to charge, and make payments automatically using IOTA (MIOTA). It also works for cars that don’t have the necessary software since the owner can charge and manually make payments from their IOTA wallet. The ElaadNL smart charging station marked the entry of IOTA into the IoT economy, which looks set to become the next big leap for humanity. In the near-future, machine-to-machine communication will be the norm, and IOTA has demonstrated that it is way ahead of the curve on this front. As more of these smart chargers launch all across the world, the demand for IOTA (MIOTA) will skyrocket. Given that electric, autonomous cars look set to be the next revolution in the automobile industry, it then follows that IOTA (MIOTA) has one of the biggest use-cases in all of crypto.
Combine this with the coming reality of smart cities that are driven by IoT and you have yourself a cryptocurrency that is massively undervalued when trading at under $1. In fact the eToro news alone could easily push IOTA back to over $1 within the week. In the long-run when these applications go large-scale, IOTA (MIOTA) will be trading at multiple times what it was trading at, when it hit its all-time highs in 2017.