- The establishment of the IOTA-Imperial College Lab underscores its commitment to research and innovation.
- IOTA has recovered from the critical Fibonacci retracement level, with analysts predicting the following price targets of $0.6258, $0.7232 and $0.8101.
The IOTA ecosystem has truly undergone a complete transformation in the past year. It is now at the forefront of distributed ledger technology, increasing its use cases and defining its market presence. Recent developments point to the progress IOTA has made in tokenization, digital trade financing, regulatory compliance and decentralized infrastructure, according to the CNF report.
A look at key achievements in 2024
Among his achievements, he has established partnerships in tokenization projects. He was recently recognized by Abu Dhabi Global Markets for his work in collaboration with the UAE government on such projects. Such initiatives will pave the way for innovative applications in asset tokenization in accordance with the regulatory framework.
Moreover, IOTA is working to digitize trade finance in Africa by collaborating with key organizations such as TradeMark Africa and the World Economic Forum. Such collaboration will aim to make trade processes more efficient and boost economic growth through blockchain-based solutions.
In addition, the network gained ground in Europe through participation in the CIRPASS initiative and sandbox programs of the European Union. These initiatives are aimed at further developing decentralized identity solutions, highlighting IOTA’s seriousness towards practical and scalable implementations.
Furthermore, IOTA has achieved several regulatory landmarks, such as Sharia compliance certification, which will be allowed in the MENA region. Such endorsements highlight the ecosystem’s adaptability to meet the diverse demands of global markets.
The establishment of the IOTA-Imperial College Lab is another major step in marking IOTA’s collaboration with the academic community to foster research and innovation in DLT applications. We hope that this collaboration between IOTA and Imperial College London will stimulate progress in blockchain technology and its practical application.
IOTA’s expected Rebased upgrade will be launched soon, CNF reported. The upgrade promises further decentralization and increased utility within the network. Moreover, it is slated to include programmability via EVM and MoveVM, introduce staking, and enable high-speed transactions over 50,000 TPS. All these features contribute to the wave of scalable and compliant blockchain ecosystems.
Technical analysis of IOTA prices
On the technical side, the token broke above the downtrend line and appears to have reversed its trend, according to crypto analyst Andrew Griffith. Recently, the price bounced off the 0.786 Fibonacci retracement level. This confirmed the significant interest of buyers in this zone. So, Griffith expects the following goals for IOTA:
- Target 1: $0.6258
- Target 2: $0.7232
- Target 3: $0.8101
During the prolonged market downturn, IOTA has quietly changed its infrastructure and strategy to align with the demands of governments and regulated industries. Therefore, the IOTA price rose significantly, recording a strong recovery this week. In the last 24 hours, the IOTA price is up 5.26%, trading at $0.3526 at the time of writing. Meanwhile, weekly gains are 10%.
