IOTA withdrawals from Binance suspended

The users are complaining about not being able to withdraw IOTA from Binance exchange for a long time and the IOTA cryptocurrency is falling down in price
15 December 2017   8750

Binance cryptocurrency exchange has announced launching IOTA coin on the platform 3 months ago having listed IOTA/BTC and IOTA/ETH trading pairs. Currently the users of Binance are facing issues with withdrawals of IOTA, and most of them have not been able to withdraw the money for several weeks after sending the request.

Binance support users comments towards IOTA withdrawalsUsers' comments towards the problem with IOTA withdrawals on Binance Support

The users who wrote to Binance Support, received the following reply:

IOTA has currently suspended transactions due to a bug in their system.
We have received word from them that they are working on it to fix the issue, but we are still waiting for confirmation from them with regards to when they will resume transaction operations. We appreciate your patience and understanding, and as always, thank you for your continued patronage.

The Binance Support Team 
Support 1023

Meanwhile, the price of IOTA has started to fall down, presumably due to the problems with money withdrawals. The coin decreased 0,46% within past hour, 1,03% within past 24 hours and eventually 7,95% within past 7 days.

IOTA ChartsIOTA Charts

At the moment of press, these are main market parameters of IOTA:

  • Average price: $3,88
  • Marketcap: $10 772 569 927
  • 24h volume: $694 015 000

Jaguar Land Rover to Partner With IOTA

As their ultimate goal, developers call the reduction of accidents and traffic congestion; these news had great impact on token's price
29 April 2019   467

The largest British automaker Jaguar Land Rover has started testing smart contracts based on the IOTA blockchain. According to Reuters, the program being developed is a smart wallet embedded in cars.

The new service will allow participants to receive IOTA tokens for providing information about road congestion and road pavement status, as well as for participating in the ridesharing program. Subsequently, drivers will be able to spend them on paying for parking or charging electric cars.

As their ultimate goal, developers call the reduction of accidents and traffic congestion.

It is known that this technology will be used in Jaguar F-PACE and Range Rover Velar. The launch date of the software for the mass consumer is unknown.

IOTA 24h Price Chart
IOTA 24h Price Chart

These news had great impact on the IOTA price. It rose for almost 14% in 24 hours and is being traded around $0.3.