Today, blockport announced that they were adding IOTA to their trading platform. Thanks to this listing, it will be possible for investors to buy and sell IOTA directly for Euros, without having to first go through bitcoin (BTC). This will add a significant amount to the volumes of IOTA (MIOTA) traded, and push up its demand. That’s because blockport recently reduced trading fees by 50% for people who hold at least 2.5 blockport tokens.
Fiat parings for IOTA (MIOTA) will play a huge role to its growth in the future. That’s because fiat pairs will slowly decouple the price of IOTA (MIOTA) in the future. IOTA (MIOTA) probably has one of the biggest use cases in crypto space, and it is gaining in adoption. For instance, it has made significant in-roads in the auto industry. It has gained partnerships with car manufacturers and also has a use case in allied industries like the car insurance industry. This is a use case that would push up IOTA (MIOTA) by a huge margin, if it weren’t tied too much to bitcoin (BTC).
IOTA’s market potential is also enhanced by the fact that it is based in Germany, one of the world’s leaders of industry. Most large industry leaders with a significant reach in Europe and the world are based in Germany. In essence, the fact that IOTA (MIOTA) has made in-roads in German industry, gives it a huge potential for growth, if more fiat gateways for accessing it come up. Being based in Germany also gives IOTA a huge intrinsic value in terms of adoption due to Europe’s GDPR regulations. These regulations prevent most European companies from adopting most DLTs that may not be compliant to these laws. The fact that IOTA is based in Germany, and is accepted by German industry, is an incentive for other European companies to adopt it, since there is little risk of breaking GDPR regulations. This is a factor that could drive up the value of IOTA (MIOTA) as it gains more fiat pairings in the markets.
However, before this happens, IOTA (MIOTA) will continue trading in the same direction as bitcoin (BTC) and the rest of the market. However, even in these conditions, there is reason to be bullish on IOTA (MIOTA). That’s because, just like altcoins fall faster than bitcoin (BTC) in a bear market, they also tend to rise faster in a bull market. Strong altcoins like IOTA (MIOTA) tend to rise faster in such conditions. While bitcoin has been trading sideways for some time now, there is a probability that it could turn bullish thanks to Bakkt. Unlike other bitcoin futures, it will be a physically delivered bitcoin futures, and could see the value of bitcoin push back above $10k before in November. If this happens, strong altcoins like IOTA (MIOTA) would emerge as top performers.
It’s a win-win situation for IOTA (MIOTA) both in the short-term and in the long-run. It’s a low risk crypto investment, as compared to most other cryptos.