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IOTA [MIOTA]: IOTA partners with French Agtech startup as prices surge

Rishi Raj

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IOTA [MIOTA]: IOTA partners with French agtech start-up; prices surge
Source: Pixabay

A French Agtech startup, OKP4, is using IOTA’s “Tangle technology” to obtain and exchange information on temperature and yields of farms. OKP4, abbreviated as Open Knowledge Platform For…, aims to use an open-source platform in the agricultural sector as an information hub, while exchanging data with sensors placed in fields.

Using a decentralised open-source protocol to exchange data and virtual money, the startup is trying to encourage the collation of agricultural big data independently, without having to contact a third person. IOTA enables this since it consumes low energy for the exchange of information, something which is advantageous for farmers.

As reported by a French news daily, Co-founder and CEO of OKP4, Fabrice Francioli said,

 “IOTA will allow us to multiply connections to other systems and move from data economy to knowledge-based economy. With the utility of tokens of cryptocurrency associated with IOTA, we can reward farmers according to the information that bring to the entire community.”

In the middle of partnerships such as these, IOTA saw a price rise of 6.71% over the last 24 hours, putting the price at $0.38. IOTA is ranked 16th with a market cap of $1 billion.





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Bitcoin

Bitcoin falls by over 5% in an hour as major correction ensues; altcoins follow suit

Namrata Shukla

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Source: Pixabay

Bitcoin [BTC], the largest cryptocurrency in the world, revisited its glorious highs over the past few weeks. However, it would seem that Bitcoin is falling back to earth since the coin was falling by 5.88% in an hour, at press time.

The coin while falling by 5.88% over the hour, was being traded at $12,251 on Bitstamp exchange. The market cap of the coin was reported to be $224 billion and the 24-hour trading volume was $41.813 billion. Over the past 24 hours, BTC fell by 9.55%, while noting a growth of 35.78% over the week.

Source: Trading view

Source: Trading view

The Bitcoin community was rooting for the coin to cross $14k and after the strong bullish momentum showcased by the coin, the target was not a far fetched one. However, the crash suddenly pulled its price below $13k. Twitter user, @aquinastheory, explained the trend,

“First MA/EMA cross to the downside since June 2nd and the time before May 4th. Either new distribution/accumulation is gonna occur here within the next few days, weeks or we’re going down for sure. #bitcoin $btc #crypto #forexsignals”

Source: Twitter

Source: Twitter

The coin was highly traded on Binance with BTC/USDT pair, reporting a trading volume of $1.881 billion. BW.com followed Binance, noting a volume of $1.686 billion with BTC/USDT pair. The third place was taken by Huobi Global with BTC/USDT pair, with the volume reported to be $1.578 billion.





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