The IOTA (MIOTA) cryptocurrency witnessed a significant surge of 8%+ in the past 24 Hours, following a series of positive developments announced by the project’s founder, Dominik Schiener. These developments included the onboarding of $100 million worth of real-world assets (RWA) onto the IOTA network and the upcoming launch of the IOTA Ethereum Virtual Machine (EVM) in March 2024.
$100 Million Real-World Asset Onboarding
The onboarding of $100 million in RWAs onto the IOTA network marks a crucial step towards the project’s goal of becoming the leading distributed ledger technology (DLT) for asset tokenization. These assets, once integrated and tokenized on IOTA, will unlock new opportunities for participation and value creation within the ecosystem.
IOTA Ethereum Virtual Machine Launch
The launch of the IOTA EVM in March 2024 is another significant development that is expected to boost IOTA’s adoption and functionality. The EVM will enable developers to build smart contracts and decentralized applications (dApps) on the IOTA network, leveraging the Ethereum ecosystem’s vast existing infrastructure and developer community.
Expansion Plans and Regulatory Compliance
During a recent AMA session held on crypto exchange KuCoin, Schiener also elaborated on IOTA’s expansion plans, highlighting a focus on entering the European Union (EU) market and further strengthening its presence in Asia, particularly in Korea, Japan, and Singapore. Additionally, Schiener emphasized IOTA’s commitment to regulatory compliance, aiming to position the project as a leader in compliant asset tokenization.
Related: IOTA Revs Up for Growth: EVM Launch, Staking, and Government Adoption in the Spotlight
Market Reaction
The market responded positively to these developments Furthermore, the daily trading volume of the asset witnessed a fivefold increase.
At the time of writing the price of IOTA is $0.239192, with a 24-hour trading volume of $71.61M. IOTA is +5.03% in the last 24 hours, with a circulating supply of 3.11B IOTA coins and a maximum supply of 4.60B IOTA coins. IOTA ranks 89 by market cap
IOTA’s Future Outlook
The recent developments surrounding IOTA suggest that the project is well-positioned for future growth and adoption. The onboarding of RWAs, the launch of the IOTA EVM, and the focus on expansion and regulatory compliance are all positive indicators for the project’s long-term prospects. With these initiatives in place, IOTA is poised to play a significant role in the future of decentralized finance (DeFi) and asset tokenization.
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