Price Watch: EOS, Cardano, IOTA, TRON, Stellar Lumens Finding Ground

Over the past week, the cryptocurrency market shed 10% of its market cap, or almost $30 billion.

Despite the constant news, product developments and announcements from projects like EOS, Cardano, IOTA, Stellar and TRON, the market has still been experiencing steep drops like Sunday's BTC sub-$7K nosedive.

IOTA, currently ranked #9 by market cap, is down 0.32% over the past 24 hours.

IOT has a market cap of $3.86B with a 24 hour volume of $73.62M.Chart by CryptoCompare.

IOTA is down 0.32% over the past 24 hours.

Announced on June 8, IOTA teamed up with Volkswagen in an effort to integrate blockchain technology with the future automotive industry.

IOTA's upcoming demonstration with Volkswagen will occur on June 12 at the Cebit 2018 conference in Hanover, Germany.

In early May, IOTA released their obscured Qubic project as a new protocol layer for the IOTA Tangle.

"Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle."

On May 31, IOTA announced a partnership with Norway's largest bank, DNB ASA, to explore the integration of IoT-focused distributed ledger technology with their existing infrastructure.