IOTA (MIOTA) is making a Rocky Balboa type of come back in the cryptocurrency markets. The feeless cryptocurrency is currently ranked ninth ahead of its closest competitor, Tron (TRX). IOTA is valued at $2.30 at the moment of writing this and up just 0.065 in 24 hours. It seems the market is bearish as has been for the last one week.
Particular causes of a bearish market could be the earlier comments by the Oracle of Omaha, also known as Warren Buffett, who referred to Bitcoin as being rat poison squared. Another example could be the constant bombardment of Ethereum through a court case that is trying to figure out if tokens generated from ICOs are securities or not.
In the case of IOTA widening its lead over TRX, the gap has been extended by $1.1 Billion in terms of market capitalization of the two cryptocurrencies. The confidence in IOTA has been spearheaded by the announcement of a Porsche partnership via German Startup AutoBahn in a bid to use AI, Machine learning and the tangle, to design better vehicles for the future.
Also to add to the above, is the recent news of a the CEO of Schindler AG joining the advisory board of the IOTA Foundation. The announcement was made via a tweet by @IOTATOKENNEWS.
The tweet reads as follows:
Michael Nilles, CDO of Schindler Group, CEO of
#Schindler Digital Business AG, joined the Advisory Board of #IOTA Foundation
The Schindler Group prides itself as being a company that moves over 1 Billion people per day through its global products and services. The company deals with escalators, elevators and moving walkways worldwide. The company was founded in Switzerland in 1874.
The question now remains is if IOTA will edge out Stellar (XLM) from the number 8 slot by capitalizing on the influx of good news this past few days. The difference in market capitalization between the two coins is approximately $46 Million. IOTA need only be valued at $2.47 to triumph over Stellar with current market data. This is a meager 17 cents from the current value of MIOTA.