IOTAregistering a massive price increase during yesterday’s trading session, jumping from a low of $0.172 to a high of $0.289.
The rapid increase in price comes as IOTA announced that it has become the first DLT entity regulated by the Abu Dhabi Global Market (ADGM). The agreement in question will provide over $100 million in token support to the new foundation to support and accelerate the expansion of the ecosystem.
IOTA Ecosystem Continues to Strengthen
As Koinfinans.com reported, IOTA attracted attention in September by announcing that it planned to establish a new foundation in Abu Dhabi, United Arab Emirates, to further its global expansion. This historic achievement was one of the steps that brought the ecosystem to the forefront in digital and real-world transactions in the financial sector both in the MENA region and globally.
However, the rise in IOTA price continued in early trading on Thursday. The price increased by 35.25% in the last 24 hours to $0.238. In addition to the increase in price, the altcoin also experienced massive growth in trading volume. According to CoinMarketCap data, transaction volume increased by 11,851%. This means it was recorded as $833,243,800.
The positivity surrounding the ecosystem has been further reinforced by the altcoin’s new futures listing on British Virgin Islands-based crypto exchange LBANK. The listing paved the way for perpetual contracts with up to 20x leverage
With the Stardust protocol upgrade, NFTs can now be minted and transferred at Layer 1 via private NFT issuers, and DIDs can help prove the identity of the NFT issuer. Smart contract chains can be provably linked to identities using IOTA Identity.