After weeks of bearish price activity, the market is beginning to shows signs of possible recovery. IOTA, in particular, experienced an 18% price increase – the most significant amongst top 10 tokens by the current market cap.
Bitfinex is responsible for nearly a third of IOTA’s total volume, followed by Binance and OKEx.
Bitcoin traded green today, rising above $7,400 after testing its support at $7,000 – it appears that IOTA’s recent gains are accompanying an overall market increase.
There is a lot of excitement in the IOTA community following the beta release of the token’s new Trinity mobile wallet app.
The IOTA Foundation stated via their blog:
“Over the last few months the Trinity development team has been working diligently, in close collaboration with community members. Long days and nights, building, testing, getting feedback and iterating. “
A desktop version is currently in the works, but the mobile wallet is available for both iOS and Android.
Initially a community project, the IOTA development team took over the wallet to ensure safety and ease of use. The wallet is designed for those who may be new to the crypto space, or who are not tech savvy.
However, Trinity is not the only news stirring up the market – last week the United Nations announced a blockchain-based transparency initiative with IOTA.
The Trinity wallet announcement coupled with the overall market increase may be responsible for the excitement that led to IOTA’s bullish movement today.
A better picture of IOTA’s value, in addition to the market’s sentiment, will be demonstrated over the next few days.
For more information about IOTA, including price charts, technical information and exchange actively trading it, please see our IOTA coin profile.
Cover Photo by Tyler Lastovich on Unsplash