Hey guys, according to CoinDesk, IOTA has launched a Layer 2 Ethereum Virtual Machine (EVM) network. The network is designed to utilize real assets and introduces new functionality to the IOTA ecosystem. The Layer 2 network aims to introduce real assets into the blockchain, with a focus on tokenization of physical assets. It also embeds transaction ordering and maximum value extraction (MEV) protections.
The launch on Tuesday brought features such as smart contracts, cross-chaining, parallel processing and MEV protection to the IOTA ecosystem.
Fundamentally this is good news for the IOTA coin, and could bring some positivity and ownership to the RWA sector.
Technically, the instrument has broken the downtrend, and is now testing the upper boundary of the consolidation 0.25 zone. It is also possible to draw the price structure to a harmonic pattern, but I would not count on it. If you like the project, you can pick it up in case the price consolidates above 0.25 and stops are placed below 0.2. Targets in this case will be at the levels of 0.3-0.35-0.4. Always DYOR.
Stay tuned.
