- IOTA is being likened to a more advanced version of Sui (SUI), with features such as decentralized identity (DID), better tokenomics and RWA tokenization.
- Riding on these developments, IOTA’s price surged 14.43% on November 25, with a 127% monthly gain.
IOTA (IOTA) token price is likely to mimic Sui’s (SUI) rally once the larger crypto community realizes its potential. An IOTA supporter on X highlighted the blockchain’s potential, likening it to a more advanced version of Sui.
IOTA’s Use Case In Spotlight
“Imagine what will happen to IOTA when US investors and funds realize that IOTA is basically SUI 2.0 with embedded DID features, better tokenomics, EVM (L2), RWA projects like Trade and Logistics Information Pipeline, Realize, DeFa, and recognize IOTA’s close ties to the UAE, EU, and Africa,” the supporter wrote.
Over the past month, IOTA has seen significant strides, particularly in tokenizing real-world assets, per the CNF report. Two Abu Dhabi-based companies, Neovision Wealth Management and Realize, have recently launched the Realize T-BILLS Fund within the Abu Dhabi Global Market (ADGM).
This move involves converting units of U.S. Treasury-focused ETFs into tokens available on both IOTA and Ethereum networks. Realize, co-founded by IOTA’s Dominik Schiener, described the collaboration as a milestone, stating that ADGM carried high regulatory standards. “We are truly honored to work with the ADGM to issue the first tokenized Treasury bills in the Middle East,” Realize stated.
Schiener shared his thoughts, noting, “This is just the first step towards global domination.” Moreover, along with its Middle Eastern successes, IOTA has consolidated its position in Europe. A recent blog states how IOTA participated in the European Blockchain Sandbox initiative, an EU-backed project aimed at shaping regulatory frameworks across the continent, reported CNF.
The Web3 identification system of IOTA has been selected for this program and it was designed so as to address identity verification challenges within decentralized ecosystems. IOTA Foundation emphasizes compliance with EU laws, flexibility, no fees, and scalability, which makes it appealing to providers in the public domain. The focus on environmental sustainability was to avoid the energy-intensive proof-of-work mechanism.
Another landmark for IOTA is its recognition as one of the three finalists in the European Blockchain Services pre-commercial procurement (PCP) project. The initiative, spanning two years, aims at coming up with solutions for cross-border trade and digital services across the European continent.
Expansion To Africa
Looking to Africa and Asia, IOTA’s Trade Worldwide Information Network (TWIN) project, an evolution of the Trade and Logistics Information Pipeline (TLIP), has gathered pace. TLIP started its metamorphosis in Kenya and has since spread to other parts of the country.
Schiener reported recently that demand from governments and private partners has picked up, requiring it to add five new positions in the TWIN project, reported CNF. “There’s a lot happening behind the scenes,” he shared on an IOTA forum. He added, “Next year, we will definitely see several more countries coming online.”
Meanwhile, the IOTA price is soaring with all these positive developments. As of writing, IOTA’s price gained 14.43% to $0.2464 on Monday, November 25 with a monthly surge of a whopping 127%. It has effectively outpaced Sui’s price, which climbed 85% in the last 30 days, making the IOTA supporter’s prediction true.
