IOTA (MIOTA) has been referred to as the “very first open-source distributed ledger that is constantly being built to power the future of the Internet of Things (IoT) enabled by feeless microtransactions.” IOTA is committed to delivering access to data that is secure and valid. This ensures that this data is what Distributed Ledger Technology is centred on. In other words, it is a protocol that is designed to achieve consensus on the current state of matters in a network. Moreover, this is done by having a unified cryptographically secured truth.
IOTA (MIOTA) performance on the charts has been quite impressive in the past 4 weeks. The cryptocurrency has maintained an uptrend that has seen it recover from trading lows of $0.9. IOTA/USD is currently trading above $2.00 while technical momentum and trend indicators point towards an upside breakout. The price is up a whopping 13% in the last 24 hours as at the time of writing this article. Besides, its trading volume has more than doubled from 66,547,100 the previous day to 166,059,000 recorded yesterday. Significantly, its market capitalization has maintained above $5 billion in the last one week.
IOTA continues to impress the world with its constant stream of innovations and developments focused on blockchain as well as IoT. It essentially has been leaving a lasting impression on the minds of both the investors and cryptocurrency enthusiasts out there. Consequently, MIOTA is currently getting ready for the impending listing on COBINHOOD exchange. The community got the news after COBINHOOD announced via Twitter that it was listing IOTA as a tradable instrument on its platform. A more elaborate message was published on the exchange’s medium page noting that:
“Depositing and trading IOTA with BTC, ETH, and USDT trading pairs will be live on May 4th, while withdrawing will be enabled two weeks after listing (this post will be updated with the exact date),”
In addition to that, the exchange went ahead to say that it is starting the “Upcoming Contests & Airdrops”. Furthermore, IOTA (MIOTA) is going to be the first coin to be featured on COBINHOOD exchange in May.
The listing of a coin on another exchange has various direct benefits and advantages that are worth looking forward to. For instance, the trading volume increases almost instantly as the investors find other avenues to buy and exchange the digital asset. Second, the demand for the coin goes up causing a surge in the price of the asset. Importantly, the market capitalization of the cryptocurrency increases, boosting the coin up the ladder to becoming one among the top coins in the market.
Whether or not the listing of IOTA scheduled for tomorrow will cause a surge in the price, the event is still a plus for the community and the team. IOTA is expanding into a new market, besides, COBINHOOD cryptocurrency exchange appeals to the younger generation. Interestingly, IOTA is transforming the technology and intertwining it with the blockchain to achieve solutions for the real-world problems. Therefore, I believe, for IOTA (MIOTA), this listing is one step towards revolutionizing technology and expanding into other markets.