The Exciting Growth of IOTA Ecosystem DLT Foundation in Abu Dhabi

IOTA made headlines with its recent announcement of the establishment of the IOTA Ecosystem DLT Foundation in Abu Dhabi. This initiative, along with a substantial $100 million investment in IOTA tokens, highlights the company’s expansion in the Middle East.

Regulatory Milestone and Market Impact

The IOTA Ecosystem DLT Foundation is the first blockchain-oriented entity to gain approval under the DLT Foundations Regulations of the Abu Dhabi Global Market (ADGM). This approval comes after ADGM finalized its blockchain rules, positioning Abu Dhabi as a leading jurisdiction for blockchain technology. The market reacted positively to this news, with IOTA’s price experiencing a significant surge.

IOTA’s Future Objectives

The IOTA Ecosystem DLT Foundation aims to foster the growth of the IOTA ecosystem and accelerate the development of the IOTA protocol. This includes collaborations with institutional investors, governments, and academic institutions for the tokenization of assets, bringing them onto the blockchain. The $100 million in IOTA tokens will fund the foundation’s activities over the next four years.

IOTA Price Analysis

IOTA is currently trading at $0.247, marking a significant increase in its value over recent periods. The last 24 hours have seen an impressive surge of 44%, indicating a strong upward trend in the short term. However, it’s important to note that despite these gains, the current price is still far below its all-time high (ATH) of $5.3.

What is IOTA (MIOTA)?

IOTA operates on a system called the Tangle, which differs from a blockchain in its structure and how it processes transactions. The Tangle confirms two previous transactions for each transaction, theoretically leading to faster processing times and no transaction fees.

See also  Can XMR Buyers Extend Gains as Price Surpasses $150?

Where to Buy IOTA?

Bitget provides a reliable and user-friendly platform to buy IOTA, offering a seamless trading experience for investors looking to engage with IOTA and other cryptocurrencies.

With the establishment of the IOTA Ecosystem DLT Foundation in Abu Dhabi and its pioneering efforts in blockchain technology, IOTA’s growth in the Middle East is set to be an exciting and influential development in the cryptocurrency industry.



### News source: cryptoticker.io

By Team