- The IOTA co-founder has hinted that IOTA could launch its stablecoin early next year to underline its commitment to seamless and efficient payment.
- One analyst has predicted that IOTA could soon break out and reach $3.5 once it breaks its $0.4 resistance level.
IOTA co-founder Dominik Schiener revealed that IOTA could launch its native stablecoin with vUSD in January 2025. According to him, this innovative initiative would mark the ecosystem’s transition to a payments network.
Furthermore, Schiener highlighted that IOTA would enable various products, including P2P payments, remittances, artificial intelligence agents, trade finance, etc. Interestingly, Schiener’s disclosure was in response to a recent announcement that Ripple has officially launched its RLUSD on global exchanges.
Great job Ripple 👏
IOTA will get its own native stablecoin with $vUSD in January, and we welcome all stablecoins to be minted natively on IOTA.
Turning IOTA into a payments network will be a focus in 2025. AI agents, trade finance, remittances, P2P payments. We will enable everything. https://t.co/4w2DIRBLU6 — Dominik Schiener (@DomSchiener) December 17, 2024
IOTA is also working on several high-profile partnership deals. Recently, it joined renowned crypto exchange BYDFi to provide global users with secure, more convenient and cost-effective blockchain services.
Additionally, the team is working on the mainnet launch of the long-awaited Rebasado Protocol. Recently, a spokesperson, identified as Kowei, highlighted the technical advantage of the Rebasado Protocol and its partnership with governments at the Blockchain Week held in Taipei. According to our previous post, Rebased would introduce functionalities in the integrated stablecoins that will be minted on the network.
IOTA Rebased delivers on this promise to IOTA and helps us achieve significantly faster time to market and maturity of our technology stack. It would allow us to expand our adoption efforts and support our ecosystem to create a new wave of applications that generate significantly greater value for IOTA.
More on the latest developments and IOTA price
According to an IOTA enthusiast identified as Salma, IOTA could be looking to integrate with Coinbase’s Rosetta standard for seamless connectivity with exchanges, apps, and wallets. As previously reported by CNF, these initiatives have positioned IOTA at the forefront of global adoption in the third quarter of 2024.
Meanwhile, IOTA price has missing down 9% in the last 24 hours and 7.5% in the last seven days. However, analysts expect an explosive rise in the future from the current position of $0.35.
According to analyst Team LAMBO Charts, IOTA’s immediate resistance level currently sits at $0.40. A successful break of this resistance could see the asset reach $0.70, followed by a rally to $1. In the medium term, the asset is expected to rise more than 450% to reach $2.60.
Joining the discussion, another analyst identified as JustSumCryptoDude highlighted that the asset’s price could soon react to the two-year accumulation period. In another post, the analyst hinted that whales could likely shift profits from XLM, XRP, and HBAR to IOTA. According to him, the asset will reach $3.5 once it secures the $1 territory.
Just wait until the big pocket traders move those profits from $XLM, $XRP and $HBAR to $IOTA, just saying…. pic.twitter.com/wmDdzh2SV7— JustSumCryptoDude (@CryptoWarrior01) November 23, 2024
On its daily chart, we recently observed that IOTA has moved above the 50-day and 200-day exponential moving averages at $0.1914 and $0.1710 to form a golden cross. However, the relative strength index (RSI) and oscillator confirmed overbought. In our observation, this contributed to the ongoing retreat. The asset could retest its support level at $0.30 before making the major move to $1.
