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Can the IOTA price profit?

IOTA Chrysalis Phase 2 live: Can the IOTA price profit?

The IOTA price has gone up. As a result, the MIOTA price is experiencing a sharp increase in value. This is also commonly referred to as an IOTA pump. The image shows a MIOTA Coin in front of a rising price graph.

After the major cryptocurrencies such as Bitcoin, Ethereum and Co. were able to rise sharply in the last 7 days, we want to look at the IOTA (MIOTA) price today. For example, data from Coinmarketcap shows that IOTA has not been able to outperform the market and is also well Bitcoin Evolution below average in the last 7 days with a price growth of +11% compared to Bitcoin (+27%) or Litecoin (+22%).

IOTA Chrysalis Phase 2 is live

At the beginning of this week, interested readers received the latest information on Chrysalis Phase 2 on the IOTA blog.

According to this, the testnet has now officially launched and thus IOTA 1.5 is on its official way and „midpoint“ to the highly anticipated launch of IOTA 2.0.

The new testnet comes with features like a new CLI wallet. The language of the blog post shows us how important and big this step is for the vision of the project and thus the final state of a truly decentralised network:

Today we announce the official launch of the Chrysalis test network. The release of Chrysalis Phase 2 on the mainnet will be the largest upgrade to the IOTA network in its history. A complete rewrite of the protocol, setting the stage for widespread adoption and moving us closer to IOTA 2.0.

Course remains unimpressed by development

There is no doubt that this is an important step by the Foundation towards IOTA 2.0.

The changes and developments are welcome and a step forward in the protocol.

Despite this supposedly positive news, investors remain largely unimpressed. The IOTA price remains behind expectations and cannot currently show any strong momentum.

A look at the chart below shows the price trend over the last 7 days.

Although the IOTA price was able to benefit slightly from the generally strong bullish sentiment on the market, it remains an underperformer, as already mentioned in the introduction. With a 7-day price growth of 11%, with 9% falling on Thursday alone, IOTA shows little sign of strength.

Therefore, it remains to be seen whether investors can bring more momentum to the cryptocurrency in the future and whether the foundation can strengthen the community’s trust in the project.

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