Transportation Deal With Austin May Mean Good Days Ahead For the Price of IOTA

IOTA has been among the top 20 coins for some time. The token appears to be attaining more heights. Now the IOTA Foundation has partnered with Austin’s transportation department in the US state of Texas. By taking the issues affecting the transportation sector to Blockchain for solutions, the collaboration hopes to improve interoperability between multiple transportation systems.

Blockchain is being used in the transportation sector for the first time. The technology is deployed by the partnership with the aim to solve the problems affecting the sector. They intend to make interoperability between transportation systems smoother. With this latest move, the price of IOTA is predicted to reach the $1 target by year-end.

On a global scale, the transport sector is large. But there are still numerous challenges affecting the sector. There’s the issue of inefficiencies and under-utilization.

“Internet of Things” and blockchain offers the potential to be the backbone of smart transportation. According to experts, this new system will enjoy improved interoperability between locations and let the industry become cost-efficient.

IOTA Price Prediction: The Price of IOTA is 4.66% Up in the Last 24 Hours

According to data given by coin market cap, the price of IOTA was $0.382746 as of the time this content was published. The digital asset is ranked number 16 among the top cryptos by market cap. It gained up 4.66% in the last 24 hours. The price of IOTA may gain more now that the network has entered a partnership with Austin’s transportation department.

As of press time, IOTA has a return on investment of – 40% and total circulating supply of 2,779,530,283 MIOTA with a market cap of $1,063,854,494 and 24-hour trade volume of $44,601,013.

IOTA Price Prediction: Comparing the Price of IOTA From 30 Days Earlier to the Present Levels

The price of IOTA started the year in a positive way. The price reached its highest point on January 10 at $0.36. Note that fluctuations were common despite starting the year on a positive note. The lowest price point of the year for the price of IOTA was reached on February 6 at $0.23. The market capitalization of the coin as of April 15 was $880,802,770 now $1,063,854,494. The price of IOTA stood at $0.316889 at the said date now $0.382746. The current market capitalization of the coin as well as the price of IOTA is 21.07% more than what they were 30 days ago.

IOTA Price Prediction: The Price of IOTA To Attain New Heights in the Short-term

When you look at the positive developments coming in for IOTA as well as the potential of the IoT technology, it is predicted that the price of IOTA will reach newer heights in the short-term. The coin will follow a bullish trend and hold it for the short-term. There will be resistance at $0.40, $0.45, and $0.5 and support at $0.2, $0.15, and $0.1 for the medium-term outlook. By year-end, IOTA’s price should be at $1.

New investors may buy at the current rate if they want to profit. The price of IOTA is going to increase going by the current market trends. Hence, long term holding should give investors at least 4 times the rate of the investment.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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