Last week, we saw IOTA make incredible progression in the run up to the announcement of Qubic, or Q, which was made by IOTA just yesterday (3rd of June 2018).
A month ago, we saw a quick teaser for Qubic, which has thus generated much speculation and anticipation in time for yesterdays announcement. Through the week, IOTA responded very well, seeing gains from $1.36 up to $1.96 in just a couple of days. This is most impressive when you realise how poorly the markets surrounding IOTA actually performed. In essence, IOTA managed to break away from the overarching negative trend and pave its own way.
Now, at the time of writing, IOTA is valued at $1.76, down 10.38%. Overall, IOTA is nicely ahead of its value seen towards the end of May, however, this current decline is somewhat surprising given that the Qubic announcement only came out yesterday. Whether this is just down to correction, or something more sinister, we can’t know for sure just yet. Either way, for now, we must keep our eyes on the progression of IOTA to assess the full scale of this.
One possible reason for the drop in IOTA’s value outside of correction is that there’s a chance investors are a little disappointed by Qubic. Come to think of it, actually, perhaps investors aren’t disappointed, it’s more likely that they are suffering confusion more than anything.
What is Qubic? Well, according to IOTA:
“Qubic is still a work in progress. This website is meant to give the IOTA community and the wider public a comprehensive overview, to better understand what we are working on, and to help convey the enormous scope of the Qubic project.”