IOTA held up well above $2, but now, a new upward trend is starting, as the project is selected for the spotlight.
IOTA (MIOTA) has awakened, becoming one of the actively spiking assets in the past days, after weeks of drifting around the $2 range. IOTA has now become the 13-th most active asset on the markets, though still taking up just around 0.8% of all trades.
— IOTA (@iotatoken) May 2, 2018
After the news, MIOTA added 10% overnight to $2.24, going up above $2.30 at one point. MIOTA is back as a top 10 coin, after yielding its position for a while to TRON.
In the new month, IOTA is one of the digital assets seen breaking out. However, the real breakout may happen once volumes return.
The IOTA Project Updates
Additionally, IOTA continues with community building efforts, launching an ecosystem website at the beginning of May. Until recently, the IOTA project relied on academic partnerships, or specialized developer organizations.
In the past weeks, criticism against IOTA has been somewhat forgotten. However, the Trinity wallet launch is still pending, possibly curbing the popularity of the project.
What is more worrying, is that trading volumes for IOTA are picking up much more slowly, in comparison to other coins that are almost recovering the activity levels from December and January. At the moment, Binance has moved to the top as one of the most active IOTA trading platforms, followed by Bitfinex. IOTA has smaller exposure to the Korean markets, where altcoin speculation still produces the most prominent price spikes.
The Trinity wallet is still in the audit stage, expected to be completed by the end of the month. According to the last technical update, the project is seeing active work, but there are many faults to be smoothed out. Test users are still giving feedback for improvements.