IOTA might be thought of as the next phase in cryptocurrency. This is because it is a distributed ledger and cannot be considered a blockchain. This implies that there are no miners and any fees to the blockchain. This makes them faster than other blockchains. The objective IOTA is to conceive a platform that can become the network for IoT transactions between devices.
As Sønstebø wrote in his blog:
“IOTA should not be considered an alternative coin (altcoin) to existing cryptocurrencies such as Bitcoin, rather it is an extension of the growing blockchain ecosystem. It’s meant to work in synergy with these other platforms to form cohesion and symbiotic relationships. IOTA is designed to provide one solution that no other crypto does: efficient, secure, lightweight, real-time micro-transactions without fees.”
IOTA allows feeless transactions which they call Machine Economy. Where many projects are run as businesses, IOTA says that they are not in for profit. They say that they have the sole purpose of making the MIOTA network prosperous.
There are 2.7 quadrillion tokens and all of them are in circulation.
Price Movement – Miota (IOTA)
The coin had created its All-Time High in April 2021 and reached a price of almost $2.6 before falling down to a price of $0.57 and closing there. From here the price showed reversal. At the time of writing this article, IOTA is being traded at a price of $1.46. The price has almost increased by 3.87% today. In this month alone the price has increased by only 0.97% though.
The Total volume at the moment is $130,799,280 with an increase of 42.14% in the past 24 hours. The coin is listed on coinmarketcap on the 46th spot and has a market dominance of about 0.16%.
Long Term Price Prediction – Miota (IOTA)
Wallet Investor thinks that the coin is a highly bullish coin and it would continue to rise in value. According to their prediction, in one year IOTA will reach a value of $2.290. In a five-year plan, the price is expected to reach a value of $5.289.
