IOTA (MIOTA) Price Recovers as Trinity Desktop Beta Wallet Brought to Users

The IOTA project saw a more robust price recovery, following a beta desktop release for the Trinity Wallet.

Over the weekend, IOTA (MIOTA) announced the release of the Trinity wallet for desktop, in open beta version, almost three months after the launch of the Trinity Mobile wallet app. The news helped boost the recently depressed price of MIOTA from around $0.50 on Friday to more than $0.62 on Monday morning (UTC).

The Trinity wallet has long been seen as one of the big milestones for IOTA, as the assets still need a safe and glitch-free way to account for balances. This is due to the complexity of the IOTA “tangle”, or the usage of a Directed Acyclic Graph (DAG) data structure.

At the end of May, the IOTA Foundation released a mobile wallet, and now it has optimized the Trinity wallet for desktop use. The code for the wallet in both its mobile and desktop versions has been opened on GitHub.

In addition to the wallet updates, the IOTA project has continued to track the growth of its ecosystem through a dedicated site.

Opinions on MIOTA vary, from short-term trading enthusiasm to the belief that MIOTA is now a defunct digital asset and its real-world application is not enough to garner higher prices. The price of the coin has declined from levels above $1 at the beginning of the summer.

Based on data from Cryptocompare, most dollar-denominated volumes for MIOTA come from Binance, where more than 63% of USD-priced trading is happening. For MIOTA, more than 35% of all volumes are supported by Tether (USDT), meaning potentially increased liquidity. But for now, the price is weighed down by the ongoing bear market for altcoins.

MIOTA has gone as high as $5.69 on December 19, 2017, but went on to slide continuously as criticisms of the project caused newcomers to lose interest. MIOTA thus lines up among the coins that lost more than 90% of their value since peak prices.

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