The cryptocurrency market continues to show strength today. Leading crypto Bitcoin maintains its position above $38,000. Altcoins also continue their journey deeper into the green zone. Amid these developments, IOTA, one of the leading altcoin projects, made an important announcement. Following this, the token price jumped off the board.
IOTA announced that it was officially registered, the altcoin price skyrocketed!
Today IOTA announced that Abu Dhabi Global Market (ADGM) has been registered as the first foundation under the DLT Foundations Regulation. This landmark achievement positions IOTA at the forefront of digital and real-world convergence in the financial industry in the MENA (Middle East and North Africa) region and globally. This development quickly resonated with the market. Crypto news channel Wu Blockchain announced the development as follows:
IOTA announced that Abu Dhabi Global Market (ADGM) has been registered as the first Foundation under the DLT Foundations Regulation. IOTA positions itself as the leading L1 public blockchain in the Middle East. Equipped with a $100 million local ecosystem treasure, IOTA is about to begin building a thriving Web3 ecosystem and businesses focused on real-world assets (RWA) in the Middle East.
IOTA announces its registration as the first Foundation under the DLT Foundations Regulations of Abu Dhabi Global Market (ADGM). IOTA positions itself as the leading L1 public blockchain in the Middle East. Equipped with a local ecosystem treasury of $100m it is about to start…
— Wu Blockchain (@WuBlockchain) November 29, 2023
The altcoin price made a big jump following the news. While the token was traded at $0.1734 during the day, it suddenly jumped to $0.2322. At press time, IOTA was trading at $0.2322, up over 37% on a daily basis. Meanwhile, the token’s upward movement continues.
IOTA daily price chart. Source: CoinMarketCapDetails coming…
