IOTA (MIOTA) price is currently bullish, albeit modestly, compared to other crypto assets that are currently bearish. At the time of writing, IOTA was trading at $0.30, up 7.68% in the last 24 hours and up 18.60% compared to last week. IOTA also unexpectedly recorded a 955% increase in trading volume.
IOTA’s staging network will be live in the next 48 hours. According to the latest announcement, the Shimmer network will be complete on September 28.
Co-founder and president of the Iota Foundation Dominik Schienersharing a tweet about the milestone reached:
“This is the week we launched a new token to the world for the first time since the launch of IOTA in 2015. Be more excited for what’s coming soon.”
Shimmeris also known as an incentive Tier 1 innovation network designed to accelerate the development of highly interoperable digital assets and token economies. Like IOTA, Shimmer is a DAG-based parallelized settlement layer with greater layer-2 stabilization capacity than traditional blockchains. Shimmer acts as a test environment for improvements to the IOTA network. The native token of the project was named SMR.
All transfers through Shimmer are free and all chains affiliated with it can use it as a free bridge for all transactions.
IOTA Continues to Rise
While most of the crypto market suffered significant losses, IOTA (MIOTA) stood out as the biggest gainer today, rising 9.2% to as high as $0.309.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.