- With aspirations to become the preferred ledger for tokenized assets, IOTA is enhancing its infrastructure and solutions.
- While some market analysts, like Shimmer Academy, suggest a potential new all-time high during the next bull run, others express skepticism, emphasizing the importance of IOTA 2.0.
The IOTA Foundation has been working on some of the key developments for the ecosystem this year in 2024. This involves the tokenization of real-world assets (RWA) as well as the launch of IOTA 2.0 later this year which will improve the network’s performance efficiency and scalability. As a result, the team is working to make the IOTA blockchain, the preferred ledger for tokenized assets.
Despite prevailing bear market conditions in the crypto industry, the tokenized real-world assets (RWA) market has experienced significant growth, reaching a reported valuation of $342 billion in September, according to research from VanEck. Under the leadership of co-founder Dominik Schiener, IOTA has been actively involved in developing solutions and infrastructure to meet the increasing demand for the tokenization of real-world assets (RWA).
Tokenization, the procedure that migrates a range of assets such as real estate, commodities, and financial instruments onto the blockchain, serves to augment the liquidity of these assets. The ShimmerEVM, fashioned as an Ethereum-compatible smart contract on the Shimmer blockchain, plays a pivotal role as a testing and development environment. This network serves to authenticate new features before their integration into the Iota mainnet.
The collaboration between IOTA and Fireblocks promises significant benefits for users, enabling the seamless custody of tokenized assets on ShimmerEVM. Furthermore, users can directly initiate transactions on the chain through the Fireblocks console and API.
Can IOTA Price Hit $6?
Amid the current developments surrounding the tokenization of assets and progress toward IOTA 2.0 launch, the IOTA price registered a 15% uptick last week. Some market analysts like Shimmer Academy think that the IOTA price could hit a new all-time high during the next bull run.
Will $IOTA reach a new ATH in the upcoming bull run?
— Shimmer Academy
(@shimmer_academy) January 28, 2024
Responding to this, pseudonymous user Crypto Penguin expressed skepticism, pointing out the necessity of IOTA 2.0 for such an achievement. He suggests a more feasible target in the range of $2 for the current bull run.
Shimmer Academy countered by citing the previous bull run, highlighting that $2.50 was attained without Real-World Assets (RWA), IOTAEVM, or IOTA 2.0 on the horizon. He added that $6 is a plausible target, with IOTA 2.0 running stably on Shimmer.
Another user Ricardo Sanchez introduced a counterpoint, emphasizing a 60% inflation in supply, casting doubt on the possibility of hitting a price ATH. Sanchez also questions the feasibility of even achieving a market cap ATH.
Shimmer Academy acknowledged the supply increase but clarified that it occurs over multiple years. He predicts the allocation of a significant portion of additional IOTA tokens to marketing, promotion campaigns, and ecosystem growth. The outcome remains uncertain, and the community awaits developments with anticipation, he stated. At press time, the IOTA price is up 2.6% trading at $0.2619 with a market cap of $816 billion.
