{"id":180948,"date":"2021-02-18T01:00:00","date_gmt":"2021-02-17T22:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3-reasons-why-iost-price-has-risen-650-in-2021\/"},"modified":"2021-02-18T01:00:00","modified_gmt":"2021-02-17T22:00:00","slug":"3-reasons-why-iost-price-has-risen-650-in-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-iost-price-has-risen-650-in-2021\/","title":{"rendered":"# 3 reasons why IOST price has risen 650% in 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a299d4dbaa9e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a299d4dbaa9e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-iost-price-has-risen-650-in-2021\/#IOST_enters_the_DeFi_arena\" >IOST enters the DeFi arena<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-iost-price-has-risen-650-in-2021\/#NFT_introduction_helps_boost_community_involvement\" >NFT introduction helps boost community involvement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-iost-price-has-risen-650-in-2021\/#Exchange_staking_support_and_increases_in_volume\" >Exchange staking support and increases in volume<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-iost-price-has-risen-650-in-2021\/#Rising_fundamentals_and_market_sentiment_boost_IOST\" >Rising fundamentals and market sentiment boost IOST<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># 3 reasons why IOST price has risen 650% in 2021 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Keeping up with the latest trends in cryptocurrency is a must for projects that want to stay relevant and continue to gain market share. The hype is currently swirling around decentralized finance (DeFi) and NFTs (non-fungible tokens) \u2014 and IOST is one protocol that has been capitalizing on these growing movements to help expand its community.\u00a0<\/p>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\">Tradingview<\/a> shows that the price of IOST, the 78th-ranked digital asset by market capitalization, has risen 650% since Jan. 8, from $0.0058 to $0.045 on Feb. 17, its highest level since June of 2018. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/30f259b6-72d7-487f-9162-b141222cad5b.png\"><figcaption style=\"text-align: center;\"><em>IOST\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Three reasons for the strong price performance thus far in 2021 include its entrance into the DeFi arena, the addition of NFT functionality combined with a new marketplace where users can buy and sell items, and increased support for staking from top exchanges, which led to a significant increase in the token&#8217;s trading volume. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"IOST_enters_the_DeFi_arena\"><\/span>IOST enters the DeFi arena<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>DeFi\u2019s central role in expanding the cryptocurrency ecosystem is now undeniable, and the developers at IOST recently took steps to capitalize on this growing trend. <\/p>\n<p>Network congestion and high gas fees on Ethereum (ETH) have led cryptocurrency traders to seek alternatives outside of the Ethereum network, and IOST is now emerging as one of those options as a result of its partnership with the new DeFi platform Donnie Finance.<\/p>\n<p>The partnership was initially <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IOST_Official\/status\/1334800080176607232\">announced<\/a> on Dec. 4, 2020, and is now preparing for its official launch on Feb. 18, which will enable IOST holders to stake their tokens on the protocol to participate in platform governance as well as earn native DON tokens. <\/p>\n<p>IOST token price also received a boost after it was announced that 10% of the total supply of DON would be airdropped to IOST token holders as a way to help get them involved in the newly launched DeFi platform. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"NFT_introduction_helps_boost_community_involvement\"><\/span>NFT introduction helps boost community involvement<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Similar to the CryptoKitty craze in the bull market of 2018, NFTs have again emerged as a hot topic in the cryptocurrency space. <\/p>\n<p>Following the release of its IRC-722 NFT standard in April 2020, IOST jumped into the NFT arena through a partnership with the Japanese blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> developer and consultancy company Platinum Egg and the creation of the TokenLink NFT marketplace. <\/p>\n<p>TokenLink was designed to allow IOST gamers to trade NFTs and game items in a secure manner. <\/p>\n<p>The beta version of the marketplace launched in January of 2021 and is available for community members to try out by trading items from CrossLink, a GPS-linked strategy game developed by Platinum Egg that was released in September of 2020. <\/p>\n<p>IOST has also been chosen by Japanese regulators to demonstrate how NFT <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> can be <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lied to peer-to-peer electricity trading and medical data sharing by utilizing NFTs to serve as liquid intellectual property (IP) in secondary markets. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_staking_support_and_increases_in_volume\"><\/span>Exchange staking support and increases in volume<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The third driving force behind the recent price growth of IOST is the addition of staking on several top cryptocurrency exchanges including Binance and Huobi. <\/p>\n<p>As DeFi grows and offers ways for token holders to earn a yield on their holdings in a decentralized manner, centralized exchanges have increasingly had to offer higher-yielding investment products in order to attract liquidity and users. <\/p>\n<p>During the month of January, several top exchanges announced that they would be adding support for IOST staking, with an APY ranging from 20% on Huobi to a high of 54.49% on some Binance contracts. <\/p>\n<p>The partnership with Huobi also included the addition of the HUSD stablecoin to the IOST ecosystem, an important development as it is the first stablecoin on the IOST blockchain, which should bring fresh liquidity to its DeFi ecosystem. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rising_fundamentals_and_market_sentiment_boost_IOST\"><\/span>Rising fundamentals and market sentiment boost IOST<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to data from Cointelegraph Markets Pro, market conditions for IOST have been favorable for some time.<\/p>\n<p>For instance, the VORTECS\u2122 score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/3622ce7a-8302-4da0-b753-867aebe37373.png\"><figcaption style=\"text-align: center;\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ct.thetie.io\/\"><em>Cointelegraph Markets Pro<\/em><\/a><em> &#8211; VORTECS\u2122 Score (green) vs. IOST Price<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 score for IOST began to pick up on Feb. 15, around 48 hours before the price increased by 80%.<\/p>\n<p>Since Jan. 8, trading volume for IOST has also seen new record daily volumes, which have surpassed $1 billion as interest in the protocol continues to grow. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3-reasons-why-iost-price-has-risen-650-in-2021\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 3 reasons why IOST price has risen 650% in 2021 &#8221; Keeping up with the latest trends in cryptocurrency is a must for projects that want to stay relevant and continue to gain market share. The hype is currently swirling around decentralized finance (DeFi) and NFTs (non-fungible tokens) \u2014 and IOST is one protocol&#8230;<\/p>\n","protected":false},"author":1,"featured_media":180949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMGMyYjM1NGMtNTExZC00M2Y0LWI5NWMtMDBhMmExYjcyN2M1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,75014,74868,74939,74935,73785],"class_list":["post-180948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-binance","tag-defi","tag-market-analysis","tag-nonfungible-tokens","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/180948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=180948"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/180948\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/180949"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=180948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=180948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=180948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}