IOTA (MIOTA) facilitates a transaction between devices connected in the Internet of Things. It is also an open source platform that facilitates secure payments and transactions for the machines connected on IoT. According to its founder, David Sonstebo, IOTA is developed as a “ledger of everything.” It was launched in 2015 with a fixed supply of IOTA coins. After few of its inception, its developers released its Beta model and since then, it continued to grow to a greater extent. It has a large number of users today, and they are expanding daily.
Current status of IOTA (MIOTA)
It is the 14th largest cryptocurrency in terms of its market cap. It is currently getting traded at USD 0.280798. Its present market cap has a value worth of USD 780,487,194. At present, 2,779,530,283 MIOTA are in circulation. Compared to its yesterday’s price, the value of MIOTA has been increased by 0.28%.
Price analysis of MIOTA on the basis of IOTA charts
On the basis of the above chart, the current price of IOTA is 0.280372 USD or 0.00007181 BTC (UTC time 05:05). Its present market cap is currently getting traded at 779,301,081 USD with 12,377,742 USD as its 24h volume. The same chart shows that nearly one month earlier, the value of VET was 0.279656 USD. So, in this approx. One month period, the value of VET has been increased by 0.25%. Its earlier price point of 0.274899 USD has provided a good support level to its current bullish trend.
Future Price Predictions of IOTA
IOTA is not based on the blockchain, and its performance has been well due to the kind of applications that it provides to the users. It is very much popular in DLT operations, and it has grown much stronger ever since it incepted. IOTA is one of the largest cryptocurrency in the world, and its partnership with a renowned personality like Rolf Werner and organization like Mobi has resulted in making this coin more secure.
According to the technical analysts, IOTA is expected to be around $11 after one year from now as it will be bringing two technologies together- Internet of Things and cryptocurrency. It will trade around $4.98 in 2019. According to Trading Beasts, its predicted price in 2020, is expected to be a minimum of $0.73 and a maximum of $1.03.
IOTA has been gaining attention due to its good performances and benefits that it provides to its users. Its users are on growing, and with more number of users, its value is susceptible to hike up in the future. Moreover, as per the future price predictions discussed above, IOTA can be a good option for long term investment.