When IOTA first revealed Qubic, IOTA coin bulls charged the scene. The coin soared, but the company was prepared for that sort of outcome. The company had forecasted that the market would react positively to the Qubic news, and they did. Some even said that was the announcement that was going to kick off IOTA’s turnaround. Therefore, when the platform released news on the Qubic project on June 3rd and 4th, the company thought IOTA coin bulls would be making another appearance.
Turns out, the company was wrong on that one.
IOTA News | Qubic Project
Yesterday, IOTA revealed some more details about Qubic. The details were intended for the crypto community as well as MIOTA investors so that they know what to expect in the near-future. While the team left out a few details, the crypto community was able to learn a bit more about the project. This was expected to be a good thing, causing the IOTA community to flood the market, but the opposite happened.
The Qubic platform will be the most significant contribution to the IOTA stack, it will enable unlimited new use cases and turn the IOTA Project into a full solution. Information and details are beginning to be unveiled right now at https://t.co/U87nKaZWnI#IOTA #Qubic
— IOTA (@iotatoken) June 3, 2018
In the future, #Qubic will leverage the world-wide unused computation capacity to solve all kinds of computational problems. Qubic is optimized for #IoT – low energy consumption and a small memory footprint – but that does not preclude large-scale computations. #IOTA pic.twitter.com/9jL0JFjkVJ
— IOTA News (@iotatokennews) June 3, 2018
Despite the news posted yesterday, MIOTA has dropped significantly on the market today. Though a surprise to the company, individuals on the market are not dumbfounded. While these people are pleased to have received a bit more detail about the Qubic project, the crypto community recognizes that IOTA didn’t provide all of the details. Further, most of the developments for Qubic are still being worked on.
IOTA Price News | June 4, 2018
As mentioned, the IOTA coin bulls are nowhere to be found today. Currently, MIOTA is selling for $1.71. This puts MIOTA down 5.31% in the past twenty-four hours.
On the upside, the coin is still ranked as the 8th largest digital currency.
The IOTA News Takeaway
What did you think about the details provided today about the Qubic project? Were these the details you’ve been waiting for? Or are you a little disappointed, and understand why the coin bulls stayed away?
Featured Image: Twitter