IOTA Down By 5.61% – Time To Buy IOTA?

• IOTA Begins NFT Revolution With Soonaverse
• Identity Version 0.5 Released by IOTA
• TouchPoint Programs to Empower Builders, Experts and Investors

MIOTA is a cryptocurrency network that uses a data structure known as “Tangle”. Due to its unique configuration, the network requires no blockchain, no miners, and zero fees. The absence of transaction fees and the network’s speed has spurred investors to buy IOTA to access the network. Miota aims to create a suitable means of payment for the Internet of Things (IoT).

Touchpoint Program To Empower Builders, Experts and Investors

Recently, Assembly launched Touchpoint. The open builder program will allow builders, experts, and investors to build, connect, and launch the next generation of Web3 decentralised applications. Investors can buy IOTA as the network positions itself for increased development.

Interested participants will have access to a $100 million ecosystem fund supported by the early contributors behind Assembly. Also, there are no charges to become a member of the Touchpoint program.

IOTA Releases Identity Version 0.5

IOTA has announced the release of its Identity version 0.5. The network disclosed that the new update would provide the most secure, privacy-preserving, easy-to-use Self-Sovereign Identity (SSI) framework. This 0.5 update also incorporates notable modifications to the Decentralised Identifier (DID) messages on Tangle.

DID messages are compressed using the Brotli compression algorithm. This minimises about 40% of the message’s size without significantly impacting the performance. With the size reduction, DID messages will require low Proof of Work (PoW) difficulty, reducing publication time.

The new upgrade also improves its Account API’s flexibility, maintainability, and ease of use. Developers using the Rust framework will enjoy a simplified experience with flexible API. The API can now manage a single identity rather than multiple identifiers. Hence, there is no need to track the DID after creating an identity.

Developers are no longer required to enter the DID into every update function. Accounts will only manage a single DID, and Strongholds can be shared. This eliminates the need for users to set new passwords for each new identity.

IOTA Begins NFT Revolution With Soonaverse

IOTA has developed a foundational platform for building projects and facilitating an expanded community. The foundational platform, Soonaverse, is a decentralised platform, and its NFT marketplace on IOTA is fee-free. This is a welcome development for investors and developers who choose to buy IOTA. Creators, buyers and sellers can mint and trade with no fees accrued.

The Soonaverse provides a robust stage for other projects to thrive rather than a distinct type of application.

According to IOTA, the market uses a stable, consistent, private architecture incorporating centralised and decentralised technologies. This is to help provide NFT based funding and trading on the IOTA mainnet. The network aims to create a positive and well-defined path to decentralisation.

Technical Analysis

At press time, IOTA trades at $0.44. In the last 24 hours, the digital asset has dropped by 5.61%.

IOTA is trading below some of its long term moving average (MA) indicators. However, this is understandable given the present general crypto market’s condition. The global crypto market has experienced a 3.31% decrease over the last day.

Currently, IOTA displays a 50-day MA value of $0.44 and a 50-day exponential moving average (EMA) of $0.44. The digital asset trades within the 23.6% Fibonacci retracement threshold of $0.44.

Despite its bearish trend, IOTA’s moving average convergence and divergence (MACD) is positive, indicating a buy signal. In addition, the digital asset’s relative strength index (RSI) of 46.92 reveals that the token is trading in the underbought region. Investors can buy IOTA at a discount and rise with the market.

Buy IOTA at eToro from just $50 Now!