IOTA is a German designed network with the next-generation distributed ledger and an associated cryptocurrency known as MIOTA. This virtual currency specifically focuses on the Internet of Things (IoT). It was developed targeting the machine to machine payments and communications. Hence, it provides real-time, secure transactions between machines. It aims at being the dominant g0-to currency for all IoT transactions. IOTA is based on the new technology called Tangle, which is a new data structure based on a Directed Acyclic Graph (DAG). This advanced technology does not have blocks, no chains, and no miners. Without the blockchain architecture, IOTA is built in very different distributed ledger architecture. It achieves by verifying and approving 2 past transactions.
MIOTA coins are being traded at 0.353101 USD on April 10 at 14:54 UTC for its relative MCap trading at USD 981,454,935. Based on these stats, IOTA is the 15th largest currency in the crypto market. This is also evaluated based on the circulating supply of 2,779,530,283 MIOTA coins and its corresponding 24h volume of $12,603,042. Coinmarketcap assesses the approximate return on investment (ROI) for this cryptocurrency to be -44.67%. The negative percentile indicates the deterioration in values from the values during investment.
Overview of the Market Trend
IOTA had been trading at USD 780 million for 0.282179 per coin on March 10. The value rose by 14.98% on March 22 and traded at 0.322655 USD (09:54 UTC). The market has been on a moderate increase with no significant rise or dips in values. However, the market cap reached its peak on April 03 at 22:54 UTC with the value is USD 1,035,225,535 and the coin trading at 0.372446 USD. The overall value of the market rose by 15.43%. The current trading value and price is deflated from the all-time high values by 5.48%.
Future of IOTA
Analysts believe that this cryptocurrency has a solid future despite being disputed by Bitcoin. According to their predictions, the price of MIOTA would reach 5.69 USD by 2020 and further there would be an increase in its price up to 56-560 USD per coin. This prediction is completely bullish pessimistic. By 2025, the coin’s value would raise more than 560 USD per coin. There are also estimations for the growth of the cryptocurrency to reach 0.9115 USD by the end of 2019 and rise further up to 5.1938 USD by 2024.
The current market does not look appealing for the buyers. The stoic values are in support of the sellers. Hence, the investors will have to observe the market trend, as there are predictions for a boom in the price of the coins, which will earn a profitable outcome.