IOTA (MIOTA) ended October at a monthly low of $0.443839 USD as the total market capitalization dropped to $1.2 billion USD. Since the start of November, the coin has seen a steady rise to $0.51 USD in the first week of November and is currently trading at $0.495022 USD, representing a 2.58% increase in the last 24 hours. This places it third on the highest gainers charts after NEM (XEM) and ZCash (ZEC).
The performance by Iota in November has been heavily dependent on the recent developments seen from the Iota Foundation. These are some of the key event that may well push Iota back to the top 10 coins in November.
The November miracles on IOTA
1. IOTA integration on the Ledger Nano S
The recent announcement by Iota Foundation of the addition of IOTA token on the Ledger Nano S, a hardware wallet, on November 2 is one of the key events so far. In the announcement made on Medium, the latest move will allow users to store their coins in hardware wallets to improve the level and quality of security. Ledger will integrate its services with the Trinity Wallet to offer the best
“The collaboration between the teams created an immediate synergy concentrated on developing a compatibility feature allowing users to access, store and manage IOTA tokens on Ledger devices. We are thrilled to welcome IOTA onto the Ledger platform.”
As seen on the chart above, the price of IOTA started to steadily rise once the news of Ledger Nano S integration was released. Trading below the $0.48 mark when the news was released, the IOTA token quickly soared to $0.48879 USD in a few hours on November 2.
2. IOTA Go and Iota Java added to the clients library
As Ledger Nano S supported IOTA which benefited the investors, traders and HODLers, the developers on the Tangle also had a treat as the Foundation added the IOTA Go and Iota Java to the clients’ libraries. This will ease the development of the project as improvements were made on the libraries.
One of the most important areas of the crypto world has to be the development of the platforms. However, most companies do not report their developments though which cripples the overall marketing of the coin especially to the developers in the field. As Iota made the Iota Go and Iota Java beta releases public in November, the market had a reversal as seen on the chart below.