Altcoins

Will This Move Help IOTA Reclaim Its 70% Gains With The Start Of 2022?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Dec 25, 2021

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Highlights

    IOTA staking brings the protocol closer to the spotlight in the midst of the holiday bustle.

    Enthusiasts of the protocol remain exhilarated in view of the incoming virtues for 2022.

The crypto space has been enthralled this holiday season in view of the fast-approaching 2022. Crypto merchants and hodlers are eager to hop on to the bandwagon, for a move towards the poised bull run. The folks have been accumulating and hodling digital assets, in view of higher returns in the alt season.

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IOTA is one among the few altcoins which have made their way to the trend list on public platforms. The spike in interest has been a result of the staking initiative by the makers of IOTA. The lucrative perks on offer, have been garnering the attention of crypto savvies. Meanwhile, the community holds a bullish stance over the future of the asset.

Should Traders Hop Onto The Staking Of IOTA?

  The pre-staking of IOTA has begun a couple of days ago, participants for which need to download Firefly 1.3.0. Stakers of the digital asset will be receiving rewards in the form of SMR, the native token of Shimmer. And ASMB is the native token of the Assembly network from the 28th of December at 3 pm CET for 90 days.

The initiative has recorded 31.71% of the total IOTA supply being staked by early innovators in 48-hours. The move might propel the Shimmer network and Assembly network to greater heights. 

Bitpanda has made announcements that it will be supporting the staking of IOTA, Shimmer, and Assembly. However, specific details of which are yet to be heard from the team. Paul Klanschek cites that they were one of the first listers of IOTA. This will be one of the first moves by the team.

What To Expect From IOTA In 2022?

According to sources, IOTA has been selected among the five contractors for phase 2A of the European blockchain pre-commercial procurement. To develop future capacities for the European blockchain services infrastructure. More updates of which would surface in 2022. 

The upcoming year would welcome the Shimmer network as the official incentivized staging network of IOTA. The Assembly network can be expected to empower the network to a greater extent with the deployment of smart contracts. The platform could witness a spur coming in from NFTs, its NFT marketplace, metaverse, and gaming. With the community projects from IOTA serving the specific sectors.

Collectively, IOTA could foray into the top performers for 2022, provided circumstances fall into place. With the protocol’s venture into emerging sectors, we can expect a bullish trek towards claiming its ATH and beyond in 2022. Hopefully, IOTA embarks on a moonish rally being one of the top contenders in the alt season. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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