 Hello, welcome to Make Money Territory. In this video we will be talking about the latest update on IOTA. IOTA has emerged as the front runner, claiming the top gainer spot on CoinMarketCap. Here's a closer look at the driving forces behind this remarkable surge. Based on the data provided, IOTA, Miota, is currently trading at 26 cents, which marks a significant increase in its value over recent periods. In the last 24 hours, IOTA has seen an impressive surge of 55%, and over the past week it has gained 50%. This recent performance indicates a strong upward trend in the short term. When compared to the beginning of the year 2023, where it was priced at 17 cents, IOTA has shown considerable growth. However, it's important to note that despite these gains, the current price is still far below its all-time high, ATH of $5.30. This disparity between its current value and ATH highlights the volatility and dynamic nature of the cryptocurrency market. Investors and enthusiasts of IOTA may find this recent price increase encouraging, but it also serves as a reminder of the inherent risks and fluctuations in the crypto space. Native token of the IOTA ecosystem, IOTA, jumped over 50% today on news about registering a development foundation in Abu Dhabi, the capital of United Arab Emirates. The IOTA ecosystem DLT Foundation claims to be the first foundation being registered under the regulatory framework called the DLT Foundation's Regulations, set up by the city's financial watchdog Abu Dhabi Global Market, ADGM, according to an IOTA press release. The new organization will be funded by $100 million worth of IOTA tokens locked up for four years, the press release added. The cryptocurrencies price surged to $0.25 from $0.17 immediately after the announcement, hitting its highest level since February. The development came after IOTA unveiled plans in September to establish a regulated entity in Abu Dhabi to foster the network's global expansion. IOTA is one of several crypto-adjacent firms that clinched approvals from Abu Dhabi's regulators recently. PAXOS also received a go-ahead to operate in the Emirati city Wednesday. Liminal, a digital asset custody and wallet infrastructure provider, also secured an in-principle approval from ADGM earlier this month. The rash of approvals comes as Abu Dhabi amps up its efforts to establish itself as a crypto-friendly hub. Earlier this year, the Emirate announced it would pour roughly $2 billion into Web 3 and blockchain startups to attract builders to its economic free zone. This development is noteworthy as the IOTA ecosystem DLT Foundation is the first blockchain-oriented entity to gain approval under the DLT Foundation's regulations of the Abu Dhabi global market, ADGM. This regulatory milestone comes shortly after ADGM finalized its blockchain rules, positioning Abu Dhabi as a leading jurisdiction for blockchain technology. The announcement of the foundation had an immediate impact on the market with IOTA's price experiencing a significant surge. Within an hour of the news release, the price of IOTA tokens jumped from $0.174 to $0.228, reflecting a 30% increase. This price movement underscores the market's positive reception to IOTA's strategic initiatives and its growing presence in the Middle East. IOTA is a unique cryptocurrency technology that differs significantly from traditional blockchain-based cryptocurrencies like Bitcoin or Ethereum. Here are some key aspects of IOTA. Unlike most cryptocurrencies that use a blockchain, IOTA operates on a system called the Tangle. The Tangle is a type of distributed ledger technology, DLT, but differs from a blockchain in its structure and how it processes transactions. In the Tangle, each transaction confirms two previous transactions which theoretically leads to faster processing times and no transaction fees, as there are no miners to compensate. One of the main advantages of the Tangle is its scalability and speed. As more users perform transactions, the network becomes faster, unlike traditional blockchains that can get slower and more expensive with increased traffic. IOTA is designed to facilitate microtransactions and is particularly geared towards the Internet of Things, IoT. Its ability to handle transactions of small values efficiently makes it an ideal platform for the IoT ecosystem, where devices can transact small amounts of data or money. Since there are no miners in the IOTA network, it does not require the intensive computational power characteristic of many other cryptocurrencies. This aspect makes it more energy efficient. IOTA claims to be quantum resistant, meaning it is designed to be secure against the potential future threat posed by quantum computers, which could theoretically break many of the cryptographic algorithms currently used in blockchain technologies. The cryptocurrency unit of IOTA is called MOTA, which often represents millions of IOTA tokens. This is the unit that is traded on cryptocurrency exchanges. The registration of the IOTA Ecosystem DLT Foundation under ADGM marks a significant stride in Abu Dhabi's blockchain and Web3 sector. This move not only reinforces Abu Dhabi's position in the global digital asset landscape, but also sets a precedent for future blockchain and digital currency initiatives. In summary, IOTA's surge is intricately linked to the strategic launch of the IOTA Ecosystem DLT Foundation, signaling a pivotal moment for the blockchain project. With substantial financial backing and a clear vision for DLT growth, IOTA stands as a beacon in the evolving landscape of distributed ledger technology. Thanks for watching, don't forget to subscribe for more updates.