IOTA price (MIOTA/USD) breaks above $0.70 after 20% gain

The tech’s endorsement by Fujitsu continues to fuel the IOTA price rally

IOTA price (MIOTA/USD) breaks above $0.70 after 20% gain

The IOTA price (MIOTA/USD) has continued its strong performance on the back of the recent announcement that Japanese IT giant Fujitsu plans to implement the IOTA protocol, Tangle.

Over the weekend the company announced that it was launching a Proof-of-Concept that utilises IOTA’s underlying tech for audit trials in the manufacturing industry. According to the August 25 announcement, the project has two objectives: “to demonstrate an audit trial for production process with IOTA as an immutable data storage medium” and “to engage with the manufacturing and automotive industry and to drive IOTA-based innovation with Fujitsu’s Co-creation approach”. The company also indicated that the project could enable “core benefits for consumers”, such as improved transparency, trust in data and data security.

Leopold Sternberg, a program manager at Fujitsu commented: “Fujitsu is well-equipped to help roll out IOTA as the new protocol standard as we are experts in both IT services and the manufacturing of IT products.”

The announcement helped fuel a strong rally that resulted in IOTA gaining more than 17% on Monday. The coin finished the session at $0.669, up from its opening price of $0.569.

IOTA has managed to maintain the positive momentum and further extend its rally in today’s trading. The coin broke above the $0.70 in the morning session and went on to hit a near three-week high of $0.732 in the afternoon. At the time of writing IOTA had gained more than 20% over the most recent 24-hour period, which made it by far the best performing coin in the crypto Top 10.

In today’s trading, the IOTA price stood at $0.726, as of 14:04 BST. The digital coin has gained 20.5% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s total market cap currently stands at just over $2 billion.

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