IOTA is a crypto technology that enables transactions between devices on IoT. IOTA addresses the scalability issues and transaction fees of blockchain technologies by eliminating the block and the chain. There is no central ledger for transaction verification in IOTA network. There are no needs of miners in IOTA network. The devices on this network verify each other’s transactions randomly and thus, it builds a consensus via the web of connections between transactions. In cryptography, this type of verification is termed as Directed Acyclic Graph or DAG. IOTA is specifically designed for micropayments, payments between machines and for fast, free transactions.
Current status of IOTA (MIOTA)
Currently getting traded at USD 0.289426, IOTA is the 14th largest cryptocurrency in the world in terms of its market cap (UTC time 08:49). Its current market cap is worth of USD 804,469,498, with a circulating supply of 2,779,530,283 MIOTA.
Price analysis of MIOTA on the basis of IOTA charts
The above chart shows that at present IOTA is getting traded at 0.289314 USD or 0.00007394 BTC (UTC time 08:53). Its present market cap has a trading value of 804,157,554 USD with 10,886,614 USD as its 24h volume. The same chart shows that approx. One month earlier, a value of IOTA was 0.302746 USD. So, the trading value of IOTA in this approx. One month has been deterred by -4.43%.
Future price prediction of IOTA
IOTA operates in “tangle” which can help in boosting efficiency and can streamline the stakeholders’ interaction. IOTA partnered with Volkswagen, and this has also created a stir in the crypto sphere. IOTA community is excited regarding their 2019 developments. So, the interested investors are still left guessing about the updates that are soon to be launched by IOTA developers. It has already partnered with BMW and Renault. The combination of all these partnerships and developments can upsurge the value of IOTA significantly in the upcoming days.
Mega Crypto has predicted that by the end of 2019, it can trade around $1.13 and by 2023, it can even reach to $4.88. This assumption is pretty optimistic if the above-mentioned points are taken into considerations. According to Smartereum, IOTA can be as high as $38 by the end of 2023 provided the market remains less volatile, and there is mass adoption of this crypto. According to Trading Beasts, IOTA can be trading around 7.06-$10.38 by 2020. According to Crypto Ground, it can reach to $5.62 by 2023.
If IOTA keeps up to its promises, then, we too assume that its value can be around $4.19 by the end of 2019 and by 2023, it can even rise to $9.84.
IOTA is undoubtedly promising crypto. It can be considered a very good choice for long term investment. It must focus on making more effective and impactful partnerships that can raise their technical efficiency and thereby its investors.