After a two-year negative downtrend, the IOTA (MIOTA) token rallied by 136.88% over the past week to $1.18.<\/p>\n
What Happened:While most cryptocurrencies were trading close to their all-time highs, IOTAs price movement wasnt exactly fuelled by the overall bullish uptrend in the market.<\/p>\n
Yesterday, the IOTA Foundationannounceda partnership withDell Technologies Inc(NYSE: DELL) called Project Alvarium.<\/p>\n
Project Alvarium plans to measure the trustworthiness of data before it is used by an application.<\/p>\n
Dell first introduced the technology known as Data Confidence Fabric in 2019; IOTA then re-engineered it using the IOTA Streams framework.<\/p>\n
See also:How to Buy IOTA (MIOTA-USD)<\/p>\n
\"The importance of data transparency is integral to how organizations in every industry move forward,\" said Steve Todd, Fellow at Dell Technologies.<\/p>\n
In order to bring Project Alvarium to life, IOTA and Dell partnered withIntel Corporation(NASDAQ: INTC) to facilitate real-world pilots.<\/p>\n
Market participants quickly reacted to the news, and the cryptocurrency price rallied over 68% from $0.73 to $1.23 in a single day.<\/p>\n
The price, however, has since consolidated to around $1.19, and trading volume was down by 40% in the past 24 hours, indicating that some long-term holders might have capitalized on a three-year high by selling at these levels.<\/p>\n
Price Action:IOTA was trading at$1.18at press time.<\/p>\n
Dell shares grew by 0.25% and were trading at $79.70.<\/p>\n
Intel shares were at $61.50, gaining 1.38%.<\/p>\n
Image:iota.org<\/p>\n
2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/p>\n
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