Why the IOTA rate falls

Prices for IOTA are at a crossroads, as trading volumes decline, and the price either stands still, or slides down.

Market prices for IOTA (MIOTA) fluctuated around 1,89 US dollars, as trading volumes declined to about 2 000 BTC or 24 million dollars per day. The digital asset is in a critical situation, as news about partnerships and the support of leading corporations face criticism from the crypto-currency community, as well as from traders and experts.

As for the trade, this may mean that the Crypto currency will probably not be able to generate another surge and will slowly descend from the highs of 5,30 dollars.

IOTA Partnership and criticism in her direction

IOTA continues to be criticized for not being a viable solution for Internet of Things.

Previously reportedthat the project received support from companies such as Bosch and Volkswagen, which makes the company an intriguing partner – although still in experimental technology.

The IOTA community strongly believes that it is under the concerted pressure of critics led by the Digital Currency Group and the Digital Currency Initiative at the Massachusetts Institute of Technology.

However, until now the project received criticism from various companies and members of the community, including Vitalik Buterina, the founder of Ethereum.

So far, some charges have been dispelled by the development team, while others remain concerned about the viability of the network for fast and secure transactions.

Author: Olga Novikova, Analyst Freedman Club Crypto News
Image from Fotolia

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