The crypto-currency market is on the rise. These financial assets continue to create a big impression on various financial markets. It is true that at this very moment, bitcoin, with its record of 14 000 $, which was achieved just a little earlier in the day, is the object of everyone’s attention.
However, the trophy for the spectacular achievement goes to IOTA. Although many experts are still wondering about the true potential and sustainability of this alt-coin. This crypto-currency has gained nearly half of its value in less than 24 hours.
Incredible Statistics at a glance
According to Coinmarketcap, the market capitalization of IOTA has now exceeded 12.68 billion US dollars. This is particularly surprising given that this cryptocurrency is far less popular than its predecessor, Bitcoin. What is particularly captivating about this asset, is not really its real value, which is almost insignificant compared to that of bitcoin. It is rather its spectacular rise in value in these recent days. And the race seems to have enough momentum to obtain more and more ground in the coming days.
To be more specific, the price of IOTA reached 5.55 $ a little earlier in the day yesterday, only to drop back down to 30% this morning. It is hard to think that just a few hours ago, it was worth only about 3 $.
To sum up, this asset reached a gain of 44.94% in less than 24 hours, then hit a violent downstream the very next night. Receiving such a score, there is no doubt that IOTA will now receive all the attention from future investors.
The cryptocurrency of the future
IOTA, also, has one of the largest trading volumes in the world of crypto-currency. While most are struggling to exceed one billion US dollars, within the last 24 hours IOTA has a total transaction volume of about 2.46 billion US dollars. Bitfinex remains the main trading platform of IOTA.
Although it is difficult to predict the future of this crypto-currency, we can expect that it will become a key asset on the market in the next few years.
Given its current evolution, IOTA will certainly have a major impact on the Internet of Things (IoT) industry. In addition, the Tangle technology is becoming attention-grabbing because large companies such as Microsoft, Samsung and many others are very interested in it.
The IoT is an innovation that we think will conquer a broad audience in little time. To put it in simple terms, imagine for the moment all the electronics and appliances in your home connected to each other. For example, the fridge will be able to detect your food supply and if something goes out of stock, an order will be automatically sent to your pre-selected supermarket for a new supply. These future devices could even be able to do a price comparison to find the best deal for you. The devices would communicate with one another, without you having to give them instructions every time.