As the crypto market establishes a remarkable recovery, artificial intelligence (AI) and the Internet of Things (IoT) generated tokens such as Fetch.ai, which have generated significant returns. The strong upward trajectory has propelled the Bitcoin price to breach the psychological resistance level of $70,000.
In the past few days, the crypto market capitalization has reached $2.6 trillion while the average trading volume for crypto assets surged by 30% to reach $117 billion within the last 24 hours.
IOTA Commits $10M in Developing TradeTech Solutions
The bullish outlook in the crypto market has compelled professional traders to devise new trading tactics. Lately, AI technology has become a powerful tool in trading. With the evolution of AI technology, traders are optimizing their trading techniques to reap significant gains.
In particular, the traders utilize innovative AI trading bots such as AI Definity 1000 Platform to analyze data patterns and market trends. The AI Definity 1000 leverages predictive analytics to predict future market trends and monitor market behaviors.
Besides advancing their trading tactic, the traders have shown interest in investing in the best-performing crypto assets.
Reviewing IOTA Market Performance
According to CoinMarketCap, the IOTA tokens have established a parabolic rally within a week. The exciting price movement of IOTA challenged the parent company, IOTA Foundation, to secure more resources to promote growth.
In a March 24 publication, the IOTA Foundation launched a $10 million investment funding to support startups at their early growth stage. The investment will be used to develop TradeTech solutions that enable investors to maximize profits.
Speaking at the Investopedia 2024 event held in Abu Dhabi, the IOTA Foundation confirmed that the multi-million investment would offer innovative trade financial solutions to businesses and government.
For years, the IOTA foundation has been leveraging emerging technologies such as blockchain, IoT, advanced financial models, blockchain, and others to support the firm to meet the end goal.
During unveiling the $10 million fund, the IOTA Foundation confirmed that the investment aligns with the UAE’s goals of promoting the development of technologies used in global trade through a strategic partnership with Investopedia.
IOTA Foundation Reveals Its Next Move
In the report, the Foundation was pleased to announce that the funds will be used to support UAE-based startups in Africa. The primary objective of launching the $10 million investment fund was to transform the crypto and financial sector.
The Foundation believes that investment will support technological innovation within the IOTA ecosystem. Moreover, the IOTA team believes the multimillion-dollar investment will create more opportunities for global trade.
The Foundation seeks to streamline the global trade processes to improve the traders’ experience. Shortly after the announcement, the IOTA token established a solid rally to break the $0.373 resistance level. According to CoinMarketCap, the IOTA token surged 7% to $0.36 in the last 24 hours.