IOTA is the abbreviated form of the Internet of Things application. It’s a brilliant crypto technology that facilitates transactions between devices based on IoT or Internet of Things. The brilliant feature of this crypto technology is that it addresses both the transaction fees and the scalability issues of blockchain technologies by eliminating the block and the chain. In order to submit a transaction to the IOTA ledger, one must verify the other two previous transactions. This type of verification ensures that no central ledger is involved and that no miners are involved to power the network. With the aim of becoming the standard mode of transaction between internet-connected devices, IOTA is expected to grow sharply this year.
Current position and facets of IOTA (MIOTA)
- IOTA is currently valued at $ 0.311601 (UTC 06:49).
- It has a market rank of 14 in the crypto market.
- The current market capitalization is estimated at $ 866,105,391.
- There are currently 2,779,530,283 MIOTAs in circulation in the crypto trading space.
Given its current resistance and analysis of the crypto predictors, this crypto has the ability to soar high in the days to come. Another key factor behind this is that IOTA works with world-renowned business giants like Samsung, Cisco Systems, Volkswagen, and Microsoft, which helps that it has some leading investors from around the world.
IOTA price analysis based on charts
Based on this chart, the current price of IOTA is $ 0.311139 or 0.0007806 BTC (UTC 06:57). It has a current market cap of $ 864,820,944 with a 24 hour volume worth $ 9,006,549. From the same graph, it can be seen that IOTA was valued at $ 0.292084 on Jan 25, 2019. So in this almost one-month period, the price of IOTA has risen 6.52%, with very good support of $ 0.278665, the price of IOTA on February 8, 2019.
Future IOTA price predictions
Based on its current resistance at $ 0.311139, its price is up 1.72% yesterday. IOTA is one of the largest cryptocurrencies in terms of market capitalization. According to the crypto analysts, it can grow as high as $ 3,214 within a year. So far, a long-term plan or a 5-year plan is being considered, IOTA can climb to $ 9,847. This cryptocurrency has also been in a bullish trend for the past 12 months, and based on the price forecasts, it is estimated that IOTA will continue to promise a bullish trend line in the future. The crypto analysts have assumed that a five-year investment in IOTA can have a projected return of close to 3,065,033923%. So it’s very obvious that investors today are great at this.
With large partnerships, IOTA already has huge crypto investors by its side. Aside from that, According to the price analysis above and MIOTA price prediction, it is clear that investors looking for a good return by investing in a long-term cryptocurrency plan should add IOTA to their list.