IOTA has seen a further 6.89% price surge over the past 24 hours of trading, bringing the current price for the coin back above the $0.038 level. In fact, IOTA has now surged by a total of 45% since the May 2019 low of $0.2590.
IOTA is now ranked in 16th position among the top cryptocurrency projects by market cap valuation, as it presently holds a $1.07 billion market cap valuation. The project is quickly closing in on 15th position holder Tezos, which currently has a $1.09 billion market cap, and 14th position holder BitcoinSV, which currently has a $1.11 billion market cap.
The recent price surge has now allowed IOTA to climb back above the 100-day moving average level for the first time since early April 2019, as the projects next milestone will be to climb above the 2019 price high at around $0.40.
Why Is IOTA Surging?
Of course one of the largest reasons as to why IOTA (and the entire cryptocurrency space) may be surging is due to the magnificent 35% price gains made by Bitcoin over the past 7 trading days. However, there have also been a string of further partnerships recently announced by IOTA, which has helped IOTA to climb out of its previously slow ascension.
City of Austin Partnership
On April 25, 2019, @austinmobility, the official Twitter handle for the transport body of the city of Austin, Texas, announced a partnership with IOTA:
Were partnering with the nonprofit @iotatoken to bring the future of mobility to Austin. Learn all about it at a special event on Monday, April 29, at 5 p.m. on the UT campus. ATD and IOTA leaders will make an announcement, followed by a Q&A. More at https://t.co/7cAmKUd6wp. pic.twitter.com/Cr97G8gfpX
— ATX Transportation (@austinmobility) April 25, 2019
The two entities are partnering up to bring innovation to the mobility industry.
Jaguar Rewards For Drivers in IOTA
On April 29 2019,