IOTA Revved Up On Jaguar Land Rover Partnership, Pumps 18%

Big partnership announcements have been thin on the ground for the major crypto projects for the duration of the bear market. That trend changed for IOTA today when the UK’s largest automobile manufacturer announced that it would be offering cryptocurrency rewards to drivers for data sharing.

IOTA Driven Up

MIOTA markets reacted pretty quickly when the news articles started doing the rounds. From a 24 hour low of $0.261 IOTA surged over 18 percent to reach $0.310 according to Daily trade volume almost tripled to just over $30 billion during Asian trading this morning. Binance is currently getting most of that volume with a 40% share, primarily in BTC.

IOTA Revved Up On Jaguar Land Rover Partnership, Pumps 18% 1
IOTA/USDT prices 1 hour –

Along with the rest of the crypto markets IOTA hit a low point in mid-December of around $0.20 and it hasn’t really recovered much from that. This partnership announcement has revived the Internet of Things based altcoin which is currently one of the top performing ones in a generally flat crypto market.

According Reuters Jaguar Land Rover has begun testing software that will use a ‘smart wallet’ to collect crypto which has been awarded to drivers who share their data. The report added that automatic data collection for road conditions and traffic volumes could be shared with authorities and navigation providers. Drivers that consent to this will earn some IOTA which can be used to pay parking, road tolls or charging for electric cars.

The auto firm added that their goal was to “achieve zero emissions, zero accidents, and zero congestion.” The technology, currently being tested in Ireland, has already been installed on the Jaguar F-PACE and Range Rover Velar vehicles. Jaguar said that it currently did not have a timetable for when the tech would be rolled out to the public.

IOTA is the obvious candidate since the technology is focused on automated data sharing from internet connected devices. Project co-founder Dominik Schiener said;

“The smart wallet technology can be easily adapted into all new vehicles. IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy,”

The community reaction on Reddit was extremely positive with comments such as “This is great! Usually companies just take your data. Good approach to pay with crypto for sharing- hopefully it takes on and other do the same,” and “Sets an incredible precedent for a big company to reward you for sharing data. Also, it’s a great brand to be associated with… very high end.”

At the moment it is all good gravy for a cryptocurrency that has been battered more than most by the bears this winter.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin50,638 0.17 % 0.23 % 11.18 %
Ethereum4,333.9 0.32 % 0.18 % 6.54 %
Binance Coin576.49 0.46 % 1.40 % 7.62 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana191.24 0.33 % 1.59 % 8.37 %
Cardano1.380 0.36 % 4.00 % 11.25 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
XRP0.8174 0.38 % 1.08 % 18.06 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra69.66 0.29 % 5.42 % 17.81 %

Bitcoin (BTC) $ 50,727.00
Ethereum (ETH) $ 4,336.64
Binance Coin (BNB) $ 576.37
Tether (USDT) $ 1.00
Solana (SOL) $ 191.42
Cardano (ADA) $ 1.38
USD Coin (USDC) $ 1.00
XRP (XRP) $ 0.81721
Polkadot (DOT) $ 29.86
Terra (LUNA) $ 69.74