IOTA is Now Available for Institutional Buying as it Goes Live on Cumberland’s OTC Desk
- IOTA all set to receive the institutional interest and investment
- IOTA “poised to accelerate into our next phase of growth and enterprise adoption in the real world.”
IOTA is feeling bullish since the first week of May which is no surprise as the leading cryptocurrency Bitcoin and the majority of the cryptocurrency market has been enjoying the month as well. However, what’s interesting with IOTA is the developments it has been seeing in the last few days.
To start with, IOTA is now all set to receive the institutional interest and investment as Cumberland exchange makes the 15th largest cryptocurrency by market capitalization available on its over the counter (OTC) trading desk.
Tech giant DRW’s crypto unit, Cumberland that is one of the leading crypto OTC has been in business in the cryptocurrency space since 2014 that provides both individuals and institutions access to different digital assets.
IOTA is available over-the-counter on Cumberland exchange, a DRW company and one of the world's leading crypto OTC liquidity providers. Retail investors, hedge funds, businesses and approved investor vehicles can buy and sell IOTA via Cumberland.https://t.co/k5ZgwiklK3. pic.twitter.com/G4UiZ4UAdY
— IOTA (@iotatoken) May 31, 2019
IOTA Commits Coordicide
However, what made headlines was the “coordicide” committed by IOTA in order to remove the centralized coordinator. The new protocol update that has been announced intends to resolve the issues related to scalability, decentralization of the network, and high transactions fees.
“We have been working towards the removal of the Coordinators since IOTA’s inception,” said David Sønstebø co-founder of IOTA Foundation.
“Now with the maturity and growth of the protocol and the quality of our research team, we are bringing that promise to fruition.”
The announcement was made along with the launch of its new website that shared the blueprint of this update that is a step forward to becoming a fully decentralized ledger technology.
#news: IOTA Announces Coordicide Solution: A Distributed Ledger Technology which Removes the Barriers to Real-World Adoption. https://t.co/MbfTKEtPGc
More details on https://t.co/DeFRKEToRe#IOTA #Coordicide
— IOTA News (@iotatokennews) May 28, 2019
“IOTA was designed to address the limitations of Blockchain with a feeless and scalable solution. That is now becoming a reality. With this major milestone, we are poised to accelerate into our next phase of growth and enterprise adoption in the real world,” Sønstebø said.
This has IOTA price surging to $0.55 on May 29th from $0.25 on May 9th and rising over 73 percent in just past 30-days.
At the time of writing, IOTA/USD has been trading at $0.45 with 24 hours gains of 5.22 percent.