Price Analysis

IOTA (MIOTA) Price Analysis: Projects Seem To Be Assuring, But A Lot Depend On Market Sentiments

  • IOTA (MIOTA) Vs. USD price is at $0.279260, with a negative ROI of 56.26%.
  • Partnering with automobile giant Audi will help in strengthening the market grip of IOTA.

IOTA (MIOTA) is more of a decentralized ledger for IOT that runs on a mechanism called Directed Acyclic Graph (DAG). With added benefits like zero transaction fees, infinite scalability, fast transactions, and secure data transfer, IOTA network doesn’t have any upper limit on the number of transactions.

Analysis:

IOTA

  • As per CoinMarketCap, in cryptocurrency ranking IOTA (MIOTA) is at 15th 
  • On May 10, at UTC 09:24, total Market Cap of the crypto was 776,212,725 USD.
  • At the same time, the 24-Hour volume was 11,668,914 USD, with a total of 2,779,530,283 MIOTA chips in circulation.
  • Against Bitcoin, the crypto was valued at 0.00004436 BTC per chip.
  • Against its 25-day’s back value, which was 0.316915 USD on April 14, the price of IOTA declined by almost 12%.

Comparison:

  • All-Time High: 69 USD (Dec 19, 2017)
  • All Time Low: 147933 USD (Jul 15, 2017)
  • Yesterday’s High / Low: 301048 USD / 0.281635 USD
  • Yesterday’s Open / Close: 286903 USD / 0.295375 USD
  • Yesterday’s Change: 008473 USD (2.95%)
  • Yesterday’s Volume: 18,196,322 USD

IOTA (MIOTA) Price Prediction:

Because of the strong community support and its project in IOT, IOTA (MIOTA) has gained a huge interest from investors. And moreover, according to David Sontebo, the founder of IOTA, there are as much as 600 organizations that have shown their interest in IOTA. The automobile industry is one of the major targets for the implementation of IOT technology. Hence, making strategic ties with top car manufacturing companies is the priority for IOTA team. Recently, IOTA has also partnered with Audi, which will enable Audi car owners to pick their insurer and insurance plan based on real-time data. Nevertheless, a major barrier to the global outreach of IOTA is its lack of optimum integration with third-party technology.

Conclusion:

Besides all these efforts from IOTA, one needs to be realistic in expectation from the altcoin. As per market watchers, IOTA (MIOTA) price might touch 0.5 USD by the end of 2019, however, crypto space is a volatile one and anything can happen with a swipe of figure.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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