IOTA is one of the few coins that have heard an incredible trading over the weekend. The surge has spilled into the new week’s trading and its momentum is unstoppable, at least for now. Other coins with larger market capitalization like Bitcoin (BTC) are still trading in the red following the walloping declines that swept through the market mid-last week. Bitcoin is battling to retrace above $6,300 while Ethereum (ETH) has dropped below $200. Ripple (XRP) is locked below $0.30 while Bitcoin Cash (BCH) is currently embracing the support at $480.
IOTA extended the declines below the short-term support that had been established mid-last week at $0.54. It exchanged hands below $0.52 on the weekend but formed a low at $0.513 before it started the recovery journey. The bulls intensified their attack and the price pulled back above $0.58. IOTA came close to $0.6 but the buyers lost steam leading to subtle lower corrections that are currently supported by the 50 simple moving average. There is another pullback towards the intraday limit at $0.60, however, the bulls have their eyes set on $0.62 and $0.6514 supply zones. On the flip side, the 100 simple moving average is providing support at $0.560 while as stronger support exists at $0.54 and $0.52 respectively. IOTA is up over 10% in the last 24 hours and 4.53% on a daily basis.
IOTA and ENGIE Lab CRIGEN partner to revolutionize the smart energy ecosystem using DLT
IOTA Foundation recently announced the Memorandum of Understanding signed with ENGIE Lab CRIGEN. The two companies are going to explore the IOTA Tangle and its use cases in the Energy as well as other related Internet of Things domains. ENGIE Lab CRIGEN operates as corporate research unit under the ENGIE Group. On the other hand, ENGIE Group is a world-class operator in the field of electricity, natural gas and other related energy services. The company has for some time now via its Computer Science as well as Artificial Intelligence Lab (CSAI Lab) concentrated on research centered on the blockchain along with the distributed ledger technologies (DLT). The collaboration with IOTA Foundation will allow ENGIE Group to focus its research using IOTA Tangle, which is an open-source permissionless DLT.
IOTA Tangle has been developed with the purpose of empowering the future of the Internet of Things (IoT). It supports feeless microtransactions without compromising on the integrity of the data of the devices that are connected to the network. Philippe Calvez, ENGIE Lab CRIGEN, Research Lab Manager, Computer Science and Artificial Intelligence Lab (CSAI Lab) said in a comment:
“To continue a fruitful collaboration with IOTA, we wanted to strengthen our links with The IOTA Foundation. Many works and Proofs of Concept have already been realized in the Lab and we would like to participate in larger projects in France and abroad, in order to concretize and extend the use of innovative DLT technologies like that offered by IOTA in different business activities of ENGIE.”
In addition to that, Wilfried Pimenta de Miranda, Head of Business Development at the IOTA Foundation said in regards to the partnership:
“The IOTA Foundation is excited to team up with ENGIE Lab to further accelerate the technology development and prototyping cycle through concrete pilots and international collaboration within the Power & Utilities industry.”