IOTA

Cryptocurrency

Million

Foundation

Avalanche

<p style="text-align: justify">Following the announcement of the establishment and registration of the IOTA Ecosystem DLT Foundation in Abu Dhabi, the local IOTA token experienced a 43% increase on November 29. This development positions IOTA as the first Distributed Ledger Technology organization regulated by the Abu Dhabi Global Market (ADGM).</p>
<h2 id="a-100-million-dollar-project">A $100 Million Dollar Project</h2>
<p style="text-align: justify">According to a press release from the project, the foundation will be financed with $100 million in IOTA tokens allocated over a four-year period. Investors clearly perceived the announcement and the financing plan as a short-term bullish catalyst. Historically, ecosystem and developer incentives provided by Blockchain and DeFi protocols have tended to attract liquidity to the project and increase <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> participant sentiment. In August 2021, <a href="https://en.coin-turk.com/vaneck-warns-of-serious-issues-with-avalanche-ethereums-biggest-competitor/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Avalanche</a>‘s AVAX token saw a 1400% surge following the announcement of the Avalanche Rush DeFi incentive program.</p>
<p style="text-align: justify">Following the announcement of DeFi protocol’s plans for asset creation on Arbitrum, Trader Joe’s JOE token also saw a similar outcome in the months after December 2022. As of the current position, the Arbitrum ecosystem is hosting liquidity and developer incentives, and these initiatives are in line with the recent 62% revival in the ARB token price.</p>
<p><img decoding="async" class="alignnone size-full wp-image-283091" src="https://coin-turk.com/wp-content/uploads/2023/11/iota.webp" alt="" width="2155" height="1224"></p>
<h2 id="historic-levels-in-iota">Historic Levels in IOTA</h2>
<p style="text-align: justify"><a href="https://en.coin-turk.com/trezor-introduces-three-new-crypto-products-trezor-safe-3-trezor-keep-metal-and-trezor-safe-3-limited-edition/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency</a> analytics firm Coinalyze shared the following IOTA chart on November 30, indicating that IOTA’s “funding rate and long/short ratio” were at historically low levels. Investors often interpret funding rates and long/short position ratios as sentiment indicators and as indicators of how actively investors are positioned.</p>
<p style="text-align: justify">Analysts also perceive a low funding rate as reflecting a crowded open position, and in such cases, a positive news or price event can quickly catalyze a swift price reversal, moving short-term investors away from their positions. Comparing the Coinalyze chart to a standard candlestick daily chart seems to reflect this dynamic, especially the high-volume purchasing candle on November 29.</p>
<ul class="summary">
 <li>IOTA token surges after foundation’s announcement.</li>
 <li>Avalanche and Trader Joe’s tokens show similar trends.</li>
 <li>Coinalyze highlights IOTA’s historic sentiment levels.</li>
</ul> Continue Reading: <a href="https://en.coin-turk.com/iota-foundations-pioneering-move-establishing-the-first-dlt-organization-in-abu-dhabi/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/iota-foundations-pioneering-move-establishing-the-first-dlt-organization-in-abu-dhabi/</a>

IOTA Foundation’s Pioneering Move: Establishing the First DLT Organization in Abu Dhabi

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