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<div class="cryptonews">
 <p>The native token of the IOTA distributed ledger ecosystem, also called IOTA, witnessed a sudden rally <a rel="noopener noreferrer nofollow" title="follow" href="https://thebittimes.com/tag/follow.html">follow</a>ing the announcement of the new IOTA Foundation in the United Arab Emirates (UAE).</p>
 <p>IOTA is up by 35% in the past 24 hours and is trading at $0.236 at the time of writing. The asset reached a <a rel="noopener noreferrer nofollow" title="10-month" href="https://thebittimes.com/tag/10-month.html">10-month</a> high of $0.285 shortly after the big announcement. IOTA’s market cap is currently standing at around $720 million with a daily trading volume of $773 million.</p>
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   IOTA price, social volume and total open interest – Nov. 30 | Source: Santiment
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 <p>Despite the recent rally, IOTA is still down by 95% from its all-time high of $5.69 on Dec. 20, 2017.&nbsp;</p>
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 <p>On Nov 29, IOTA announced the <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> of the $100 million distributed ledger technology (DLT) <a rel="noopener noreferrer nofollow" title="foundation" href="https://thebittimes.com/tag/foundation.html">foundation</a> regulated with the Abu Dhabi Global Market, called the IOTA <a rel="noopener noreferrer nofollow" title="foundation" href="https://thebittimes.com/tag/foundation.html">foundation</a>.&nbsp;</p>
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    <p lang="en" dir="ltr">IOTA is the first #DLT Foundation regulated with @ADGlobalMarket in #AbuDhabi ! The new #IOTA Foundation will be seeded with over $100 million in $IOTA tokens to support and accelerate the growth of the IOTA ecosystem.https://t.co/7NYe2L5RFs<br>️ pic.twitter.com/DZUHjcm2sV</p>— IOTA (@iota) November 29, 2023
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 <p>Per the announcement, the new <a rel="noopener noreferrer nofollow" title="foundation" href="https://thebittimes.com/tag/foundation.html">foundation</a> will be based in Abu Dhabi and the company will invest $100 million worth of IOTA tokens in its seed round. The assets will be vested for four years with the main aim of building the IOTA ecosystem.</p>
 <p>According to data provided by the market intelligence platform Santiment, the recent announcement has triggered a massive boost to IOTA’s social activity. The asset’s social volume witnessed a 1,745% rally in the past 24 hours, per Santiment data.</p>
 <p>Moreover, IOTA’s total open interest (OI) has been constantly rising since Nov. 21. According to Santiment, IOTA’s total OI rose from $8.7 million on Nov. 27 to $8.8 million a day later. However, there’s no real-time data to show the exact OI of the token.</p>
 <p>In late January this year, the European Union selected IOTA for the European Blockchain Pre-Commercial Procurement to test the blockchain technology.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/iota-reaches-10-month-highs-following-100m-foundation-launch-tbt72157.html">https://thebittimes.com/iota-reaches-10-month-highs-following-100m-foundation-launch-tbt72157.html</a></p>

IOTA reaches 10-month highs following $100m foundation launch

TheBitTimes

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