Soon below €0.60: IOTA price continues to fall despite new NFT marketplace

July 22, 2021

IOTA price continues to fall despite new NFT marketplace
The NFT business was one of the big price drivers for all kinds of cryptocurrencies in 2021. As the Iota Foundation announced in its blog on 12 July, non-fungible tokens will initially be tried out in the testnet (Devnet 2.0) in the NFT marketplace. Only with the official upgrade of the entire network to Iota 2.0 will the mainnet also be able to benefit from the innovations. This could bring more users to the cryptocurrency.

NFT fees to be significantly lower than on existing platforms

In its blog, the Iota development team declares war on existing offers for non-fungible tokens. Especially in terms of costs and fees, the Tangle network is said to be significantly superior to the blockchain.

 "Selling an NFT using Ethereum on one of the most popular NFT platforms like Foundation can quickly run into over $200 in fees," the post reads. 

"Transactions are always fee-free on the IOTA network, so that barrier is already gone. Minting fees are also negligible due to the IOTA digital assets framework. Only the commission for the IOTA NFT marketplace remains, as the infrastructure needs to be powered in some way. All in all, the NFT solution based on the IOTA network will be significantly cheaper than any other existing solution, making it more attractive for all market participants."

IOTA price trend still bearish

With an Iota Wallet, the test version of the marketplace is already available. This will be directly integrated into the new platform. The MIOTA price forecast has not been able to benefit from the news so far. A token currently costs just over €0.60 and the downward trend that has been going on for months remains intact. If the price continues to fall, this could trigger new sales impulses.

A successful implementation of low-cost and user-friendly NFT offers could give the price of the German cryptocurrency a boost again.

Now, the main benefit of hot Bitcoin Cash Wallets is that they are very accessible. What this means is that you can transfer your XMR coins very quickly, without having to go through some difficult setup processes.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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