IOTA is currently number 15 among the largest cryptocurrencies with a market value of $847 million. Despite dropping sharply during the extended bear run, the price of IOTA has managed to maintain steady growth amid news that British car manufacturer, Jaguar Land Rover, has begun testing IOTA-based solutions. As of mid-day April 28, the price of IOTA trading at $0.3098.
IOTA (MIOTA) Price Today – MIOTA / USD
IOTA Price Prediction: How Partnership With British Auto Manufacturer Pushed the Price of IOTA
Jaguar Land Rover announced on Monday that it has started testing solutions based on smart-contracts tech. The technology would pay users for data sharing in IOTA. The company is reportedly creating a smart wallet. The wallet will be installed in their new fleet of cars. It will allow drivers to earn coins for sharing data like potholes locations, car performance and traffic congestions.
That price trend became positive for IOTA today after the UK’s largest automobile manufacturer made the announcement. The price of IOTA reacted quickly when the news started doing the rounds. Going by price movements, the price of IOTA which was in a 24 hour low of $0.261, moved over 18% to reach $0.310. The daily trade volume of the crypto almost tripled to over $30 billion going by the Asian trading session this morning. It is understood that Binance is getting most of this volume in BTC with a 40% share.
IOTA Price Prediction: The Price of IOTA Hasn’t Recovered Much Since Hitting Low in Recent Weeks Until the Partnership With Jaguar
Just as it is the case with most of the crypto markets, the price of IOTA had initially hit a low point as of mid-December during the bearish season. The price of IOTA at the time reached $0.20. it is clear that the price of IOTA hasn’t really recovered from that drop. It is safe to say that the partnership announcement with the British automobile manufacturer has helped revived the Internet of Things based asset class.
IOTA is now one of the top performing coins in a flat crypto market overall.
Jaguar Land Rover has already begun testing the new software. Per the report, the automatic data collection relating to road conditions as well as traffic volumes will be shared with navigation providers and the authorities. Drivers that consent to the initiative will earn IOTA which they can use to pay for parking, road tolls or charging their electric cars.
IOTA Price Prediction: Goal of Jaguar Partnership is the Remove Accidents, Congestion and Emissions
The British automobile firm added that its primary goal or reason behind the project with IOTA was to “zero accidents, achieve zero emissions, and zero congestion.” The new technology that is being tested in Ireland currently, has already been installed on Jaguar F-PACE and Range Rover Velar automobiles. According to Jaguar, there’s no specific timetable regarding when the new technology would be fully rolled out for public usage. Hopefully, we can expect this new partnership to yield fruit sometime in the near future.
According to data given by CoinMarketCap, the price of IOTA is trading at $0.318868 as of press time. The digital asset has a market capitalization of $886,302,015. IOTA also has a trade volume of $45,007,577 and circulating supply of 2,779,530,283 MIOTA in the last 24 hours.