IOTA prices are at a crossroads, as trading volumes are shrinking and the price is either standing still or sliding down.
Market prices for IOTA (MIOTA) has fluctuated about 1.89 USD, as trading volumes dropped to about 2 000 BTC, or $ 24 million per day. The digital asset is in a critical situation as news about partnerships and support of leading corporations face criticism from the cryptocurrency community as well as from traders and experts.
As for trading, this may mean that the cryptocurrency will probably not be able to produce another surge and will slowly descend from highs of $ 5.30.
The partnership between IOTA and the criticism in her direction
IOTA continues to be criticized for not being a viable solution for serving the Internet of Things network.
Earlier it was reported that the project received support from companies such as Bosch and Volkswagen, which makes the company an intriguing partner — although still in experimental technology.
The IOTA community strongly believes that it is under the concerted pressure of critics led by the Digital Currency Group and Digital Currency Initiative at the Massachusetts Institute of technology.
However, so far the project has received criticism from various companies and community members, including Vitalik Buterin, Ethereum founder.
So far, some of the allegations have been dispelled by the development team, while others still raise concerns about the viability of the network for fast and secure transactions.