IOTA price analysis: IOT/USD rallies after launching Trinity wallet
- Trinity’s beta version has seen 160,000 downloads and transactions worth over $1.8 billion of IOTA.
- The wallet was audited by cybersecurity firms SixGen and Accessec.
IOTA Foundation launched the Trinity wallet on July 2, which improves on ease-of-use and security for users. According to them, their goal was to appeal to both new and advanced users. The wallet’s beta version has seen 160,000 downloads and transactions worth over $1.8 billion of IOTA. The wallet was audited by cybersecurity firms SixGen and Accessec and has been designed for compatibility with Ledger’s hardware wallets. Other features of Trinity include Keepass-compliant security and encryption, biometric authentication, and availability in 25 languages and on Mac, Windows, Linux, iOS and Android.
IOT/USD daily chart
The price of IOT/USD went up from $0.399 to $0.402 in the early hours of Wednesday. The market has found support on the upward trending line and is trending below the 20-day simple moving average (SMA 20) and SMA 50 curves. The SMA 50 has also crossed over SMA 20 which is a bearish sign. The Bollinger jaw has widened, which shows increasing market volatility. The Elliot oscillator shows two straight bullish sessions following five consecutive bearish sessions. The relative strength index (RSI) indicator is trending around 45.30.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
