1. Home
  2. News
  3. Market

IOTA Sees Double-Digit Rally After Releasing Trinity Wallet Beta

News
IOTA Sees Double-Digit Rally After Releasing Trinity Wallet Beta

Cryptocurrency project IOTA saw a double-digit price rally on Tuesday, May 29, after the project announced the beta release of their Trinity Wallet iOS and Android app.

IOTA announced the release of its Trinity Wallet in a blog post on May 29, which led to a rise in the token’s trading price from an opening $1.33 to a high of $1.65, a growth of 19.4 percent. Currently, IOTA is trading at around $1.61, which equates to a $4.5 billion market cap.

The IOTA price rally comes amid a broader market recovery, which also saw Bitcoin’s price jump from around $7,000 to about $7,500. IOTA’s token was one of the strongest performers, and its double-digit rally coincided with the beta release of Trinity, IOTA’s new client-facing wallet.

Trinity, released on Android and iOS with a desktop version to follow soon, provides a convenient and user friendly interface for IOTA holders to trade their tokens and perform transactions. Users can transfer tokens by scanning a QR code, see how IOTA is trading across different currency pairs, and access multiple accounts with a single password. The new wallet is protected by two-factor authentication and encryption.

The Trinity release was the second major news item to come from the IOTA team in less than a week. A memorandum of understanding between IOTA and the United Nations Office for Project Services (UNOPS), an operational arm of the United Nations was signed in Berlin and New York on May 22.

According to the press release, IOTA’s technology will “provide a greater level of efficiency in the management and tracking of UN documents, supply chains and transactional payments in real-time, with access available to both UNOPS and its partners.”

30 May 2018

Subscribe to our newsletter

Our newsletters are sent on a regular basis and are aiming to provide you most overall market situation

Latest news

New Token Listings: Blockpass and Provoco

Trading pairs of initial coin offer...
19 Oct 2018

ICORating Weekly Report: 41st Week of 2018

This report includes data on severa...
19 Oct 2018

Security Token Future Conference Co-Hosted By ICORating A Great Success

ICORating co-hosted the global Secu...
19 Oct 2018

Gates Foundation Partners With Blockchain Startup Coil

The Gates Foundation has announced ...
18 Oct 2018

New Token Listing: Alt.Estate

A trading pair of initial coin offe...
18 Oct 2018

Crypto Market Prices Could Increase Tenfold In Coming Years

The cryptocurrency market could see...
17 Oct 2018

New Token Listings: UbiatarPlay, Menlo One and Tezos

Trading pairs of initial coin offer...
17 Oct 2018

OKEx Listed Four Stablecoins Simultaneously

The Hong Kong-based cryptocurrency ...
17 Oct 2018

Telegram’s Blockchain-Based Platform Almost Ready

TON, a blockchain-based platform fr...
17 Oct 2018