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A newborn on the block shakes the crypto market.
IOTA is it??
YYYYYEEEEAAAAHHHHH!!!!!
Earlier today Cryptocurrency giant exchange Betfinix official held the launch of IOTA token, IOT tradable in IOT/USD & IOT/BTC combinations, tokens for use with the IOTA network are now publicly accessible through betfinix website. The launch sets an achievement for IOTA as they expand their user base.
In an interview, IOTA founder Davind Sonstebo quoted "**Exchange listing is something that as become a hallmark for all crypto projects, it represents that the technology is ready for the open market and wider audience**". Also exchange listing is something that matters when a person fundamentally analyses the cryptocurrency script.
As the announcement was made on June4, 2017, regarding the listing of IOT, user demand became readily apparent. The staff working for the exchange were surrounded by number of requests for details, explained Betfinix representative Brandon Carps, "We've yet to see this many requests for details on a token listing.” These type of inquiries led to an unparalleled amount of support created for Betfinix.
As the stock went live on the exchange the transaction volume quickly became so massive that the Bitfinex servers briefly went down. “Moments after the IOTA launch,” Brandon shared, “we were all hands on deck to load balance and ensure IOTA trading was back online and operating as expected.”
Within the initial 3 hours of trading, over 16 Million Mega IOTA were traded. 4.44Million Mega in IOT/USD pair, and 11.67 Million Mega IOTA in IOT/BTC, respectively.
The first two hours of IOTA trading was more than double the USD volume and ten times greater than the BTC volume of the last token we released like Ripple, over the duration of its full trading day.Summing upto the anticipation and demand IOT made its way straight in top 10 cryptocurrencies by market cap. At the time of publishing, the total Market cap of IOT tokens stands above $ 1.7 billion, going up from its peers Dash, LTC and Monero.
source : http://coinmarketcap.com/#USD
As IOT made its successful entry on the top-charts Betfinix founder added "I want to congratulate every IOTA member on this success. Now we welcome thousands upon thousands of new people who learn about and get interested in IOTA through this event with open arms. However, we are still considering this the very early days, and are squarely focused on the long term execution and vision of the IOTA project.”
Cryptocurrency market has given me sleepless nights, and sometimes reason to party but today's record breaking entry is something that will be remembered for a very long time.
Thank You UPVOTE if you like the article. RESTEEM if you have also invested into IOTA.