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Cryptocurrency News Articles
IOTA (MIOTA) Primed for Major Q4 2024 and 2025 Growth as Platform Makes Strides in Global Supply Chain Adoption
Oct 07, 2024 at 10:46 pm
IOTA is gaining significant momentum as it positions itself for major growth in Q4 2024 and 2025. The platform is making strides in global supply chain adoption with the recent onboarding of the Kenyan government and several other nations under the Trade Logistics Information Pipeline (TWIN).
IOTA is gearing up for a major growth spurt in Q4 2024 and 2025, thanks to its increasing adoption in global supply chains. The platform's recent onboarding of the Kenyan government and several other nations under the Trade Logistics Information Pipeline (TWIN) is a significant step towards tokenizing international trade documents.
The implementation of these solutions will roll out soon, further strengthening the organization's position in the global trade market. IOTA's Eviden Digital Passport has also advanced beyond its proof of concept phase.
Now a fully operational product, it is attracting attention across various industries in the European Union (EU). Following the successful integration with the European Blockchain Services Infrastructure (EBSI), Eviden is being adopted by several sectors.
Concurrently, the roll-out of the Ethereum Virtual Machine (EVM) is expanding the blockchain's use case in real-world applications, as reported by CNF.
One of IOTA's most distinctive developments is its integration of the Move programming language, making it one of only three Layer 1 networks to do so. This feature sets IOTA apart from competitors as it combines both Move Virtual Machine (MVM) and EVM functionalities.
The move has gained popularity in the developer community, offering IOTA an advantage in utilizing both MVM and EVM ecosystems. The introduction of Move could mirror the success of Solana with Rust as developers explore alternatives to Ethereum.
For context, Ethereum has faced challenges, including its ETF failure, its complex Layer 2 system, and the increasing competition from Solana. IOTA, along with other blockchains like Sui, may be well-positioned to capture the market share left void by Ether, according to the CNF report.
Another major development is Realize, IOTA's initiative to tokenize treasury bills on the EVM and potentially its Layer 1 (L1). These projects, including TLIP, Eviden, and Real World Assets (RWA), are expected to drive increased usage of IOTA's Layer 1.
The locked supply of IOTA tokens due to these projects will decrease circulating supply, potentially driving up demand. In turn, this could also impact the IOTA price significantly due to the supply shrink.
Despite the network's increased utility, the token price remains historically low, presenting potential opportunities for investors. With the anticipated demand from various industry sectors, there is potential for significant upside.
However, there is always a risk as the market has not fully priced in IOTA's recent developments. This has created inefficiencies that could result in high rewards or losses, depending on market conditions.
Currently, the IOTA price is relatively stable at $0.125, gaining 1.72% in the last 24 hours. It has also rebounded substantially from the recent low of $0.1135, surpassing the critical $0.124 mark.
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