- Cryptocurrency IOTA is now the fourth-largest cryptocurrency by market capitalization
- IOTA Foundation, a German non-profit firm that oversees the virtual currency, said last week it has partnered with big tech firms on a data marketplace
A digital currency has added more than $12 billion to its market value after the firm behind it said it was teaming up with a number of big tech firms, including Microsoft and Samsung on a “data marketplace.”
Called IOTA, the cryptocurrency saw a spike on Wednesday, rallying more than 90 percent in the last 24 hours, according to data from industry website Coinmarketcap. Its price soared to an all-time high of $5.55 at 8:27 a.m. London time, almost doubling Tuesday’s price of $2.78. It is now the fourth-largest digital asset by market capitalization, dethroning Ripple’s XRP.