RATE Group | Sirin Labs Leaves IOTA for Ethereum, IOTA Drops to Lowest Level in 9 Months
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Sirin Labs Leaves IOTA for Ethereum, IOTA Drops to Lowest Level in 9 Months

07 Aug Sirin Labs Leaves IOTA for Ethereum, IOTA Drops to Lowest Level in 9 Months

Posted at 05:51h in Ethereum News by

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The IOTA price is the worst performer today after earlier reports hinted that Sirin Labs had redirected from IOTA to Ethereum.

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Sirin Labs, the creator of the upcoming blockchain-based smartphone Finney, revealed that it had chosen Ethereum blockchain over IOTA, according media reports. IOTA was previously announced as the blockchain solution of choice for Finney, but it seems that Sirin Labs has changed its mind and now plans to adopt a private version of Ethereum. The news put pressure on IOTA’s price, as it has dropped over 18.1% in the last 24 hours to $0.75, according to Coinmarketcap data.

On Thursday, the IOTA price jumped from $0.78 to $0.96 in several hours, being driven by the news about the IOTA Hub. The latter is a new gRPC API-based solution that helps third parties better integrate IOTA with their systems. IOTA Foundation said that crypto exchanges could now prepare the IOTA listing within weeks rather than months.

However, over the next couple of days,…

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