|

IOTA to collaborate with STMicroelectronics, market reacts positively before bears step back in

  • The collaboration will deliver IoT integration capabilities to the ST user community.
  • Customers will be able to easily create and prototype new IoT solutions for single or multiple devices.

The IOTA Foundation announced that they are collaborating with global semiconductor leaders STMicroelectronics. This partnership will lead to the integration of IOTA’s Tangle into ST’s STM32Cube expansion software for the industry-leading STM32 32-bit MCU ecosystem, the X-CUBE-IOTA1. The main aim of the collaboration is to deliver the Internet of Things (IOT) integration capabilities to the ST user community. It will allow customers to easily create and prototype new IoT solutions for single or multiple devices.

Alessandro Cremonesi, STMicroelectronics VP System Research and Application, said:

“By enabling IOTA functionalities via the X-CUBE-IOTA1 expansion software for STM32Cube software technology, developers can now easily include IOTA features and capabilities in their IoT devices and create valuable applications using the STM32 Open Development Environment, which combines the STM32 32-bit microcontroller family with other state-of-the-art ST components.” 

Holger Köther, Director of Partner Management, IOTA Foundation, said:

“With specialized hardware playing such an integral role in the Internet of Things market adoption, it is exciting to work with such partners as ST to enhance IoT’s role as an innovation facilitator. The IOTA Foundation welcomes the opportunity to work with enterprise leaders like ST to expand our mission of moving beyond blockchain with the world’s first scalable, feeless and fully-decentralized DLT platform, partnered with the world’s leading technology firms.”

IOT/USD daily chart

fxsoriginal

Following the news of the collaboration, the price of IOT/USD went up from $0.29 to $0.31, where it met resistance. Since then, the daily chart has had two bearish sessions, taking the price down to $0.30. The price is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 has crossed over with the  SMA 200, which is a heavily bearish sign.

The Elliot wave oscillator has had eight straight bullish sessions, while the moving average convergence/divergence (MACD) indicator shows that market momentum has turned from bearish to bullish.

Author

Rajarshi Mitra

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.

More from Rajarshi Mitra
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Dogecoin Price Forecast: DOGE breaks key support amid declining investor confidence

Dogecoin (DOGE) trades in the red on Thursday, following a 4% decline on the previous day. The DOGE supply in profit declines as large wallet investors trim their portfolios. Derivatives data shows a surge in bearish positions amid declining retail interest.

Cardano Price Forecast: ADA dips below $0.37, hitting two-month low as bearish momentum builds

Cardano (ADA) price trades in the red, slipping below $0.37 on Thursday after correcting more than 7% so far this week. The ongoing pullback could deepen further as ADA’s social dominance declines and dormant wallet activity rises, suggesting bearish sentiment among traders.

Top Crypto Losers: Pump.fun, SPX6900, Bittensor slide further with double-digit losses

Pump.fun (PUMP), SPX6900 (SPX), and Bittensor (TAO) are leading the losses in the cryptocurrency market over the last 24 hours amid total liquidations of over $500 million. The retail segment alleges institutional manipulation amid an early-morning Bitcoin sell-off routine in the US market.

Bitcoin, Ethereum whipsaw sparks heavy liquidations amid accusations of market manipulation

The crypto market whipsawed on Wednesday as top cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), quickly reversed gains from the early American session.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.