Price Analysis

IOTA Price Analysis: Will Current Price Volatility Hamper IOTA’s Future Potential?

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  • Aims to become the global standard for IoT powered devices
  • The current market volatility is hampering the growth prospects for the coin

IOTA (MIOTA) is a unique ecosystem on the blockchain network, which developed a new platform called ‘Tangle,’ that works on a mathematical concept called Directed Acyclic Graphs (DAG). IOTA does not charge transaction fees and has solved scaling issues related to network delays. IOTA started the year on a positive note and stayed stable for some time till the prices took a turn for the worse in April. The market volatility that set in April is still affecting its prices. Going by the 5-day price trend and the market situation looks like the conditions will not improve anytime in the short-term.

Latest Statistics of IOTA:

As on July 02, 2019 at 5:31:55 UTC, current statistics are as below:

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IOTA Price Chart - 2 July
IOTA Price Chart
  • Current market price of MIOTA is $0.38496
  • Current rank is 18
  • Current market cap is around $1,079,425,052
  • 24 h volume is at $19,809,341
  • IOTA has a negative ROI of 39.18%, but the Circulating supply is a healthy 2,779,530,283 MIOTA

IOTA to USD Price Comparison:

Over the past 5 days, the price of IOTA has seen a lot of downward variations owing to the current volatility taking place in the crypto market. From a high of $0.44835 on June 27, the price fell by 15.88% on the same day within a gap of 16h 55m to $0.37420. It rose by 12.50% on June 28 to $0.42057 within a span of almost 1 day. On June 30, the price slid to $0.38652 within 2d 4h 20m to the extent of 8.05%. The price rose slightly by 4.30% on July 01 in 12h 25m to $0.40315.

Current trading price being $0.38496, which is lower to the extent of 4.96%. During the last 5 days, IOTA price has been oscillating in the range of $0.37 – $0.44 indicating that the bearish sentiment is expected to continue on account of the ongoing price fluctuations in the crypto world.

IOTA Price Prediction:

Though the year began well for IOTA and the price managed to stay stable for some time, April was the gamechanger for the coin. From April, the coin seems to be struggling to maintain its momentum as the price has seen much fluctuations. The current crypto market sentiment is also not encouraging. IOTA’s recent partnerships also point to the great future potential of the coin, but as of present, echoing the market sentiment, the price displays a pessimistic outlook. The price of IOTA could further drop and can again get traded at a low value.

Conclusion:

The current market volatility is giving a hard time for investors. There is room for hope only when the market shows some stability which is unlikely to happen in the short run. So, investors should wait and keep their fingers crossed for the market to improve.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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