IOTA jumps nearly 20% following Jaguar Land Rover partnership

29 Apr, 2019 | Updated: 29 Apr, 2019
by Ryan Boltman
Analysis
IOTA jumps nearly 20% following Jaguar Land Rover partnership

The price of MIOTA saw a 20% gain on Monday, following the recent news that car manufacturer Jaguar Land Rover will be partnering with IOTA to offer users the ability to earn MIOTA through the car manufacturer.

The news was originally reported by Reuters who stated that the British multinational automotive company would be testing software that would reward drivers with IOTA cryptocurrency for sharing data.

According to the press release, Jaguar Land Rover has already begun implementing a "smart wallet" into several vehicle designs. Jaguar Land Rover is a subsidiary of Indian automotive company Tata Motors, ultimately owned by Tata Group, one of India's largest conglomerates.

The partnership could potentially spill over into the Tata motor vehicles in India and across the globe, leading to mass adoption of a cryptocurrency reward system.

The news came as a major surprise to the cryptocurrency market, especially that of IOTA, which has seen little to no excitement or growth since the beginning of the year.

MIOTA jumped over 20% after the news was released.

IOTA/USD Chart provided by Tradingview

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