IOTA Crypto: 300X Returns Crypto Price Analysis

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This Article will explore various characteristics of IOTA crypto. The crypto has given over 300x returns from its ICO.

Origins

IOTA Crypto was founded in 2015 by a team of developers and entrepreneurs who envisioned a new way of creating a distributed ledger for the Internet of Things (IoT).

They wanted to overcome the limitations of blockchain technology, such as scalability, fees, security, and centralization. So they developed a novel data structure called Tangle, based on a directed acyclic graph (DAG).

Tangle allows transactions to be validated by other transactions without requiring miners or validators. This enables a fast, feeless, secure, and decentralized platform for IoT transactions and data transfers.

Profitability

IOTA crypto has been one of the most profitable cryptocurrencies regarding return on investment (ROI) since its inception.

IOTA has an ROI of over 33,000% as of January 2023. If you had invested $100 in IOTA when it was first launched, you would have over $33,000 at the peak value. IOTA’s price has reached several all-time highs, reaching $5.69 in December 2017 and $0.3851 in April 2021.

The current return is 300x USD if e compare current value to ico price.

Price Journey

Various factors, such as market trends, technological developments, partnerships, and events, have influenced IOTA’s price journey. Some of the significant milestones and challenges that IOTA has faced are:

  • In June 2017, IOTA launched its public network and held its initial coin offering (ICO), raising over $400,000 worth of Bitcoin and Ethereum.
  • In November 2017, IOTA announced a partnership with Microsoft, Bosch, Fujitsu, and other companies to create a data marketplace based on the Tangle.
  • In December 2017, IOTA crypto reached its all-time high of $5.69 amid the crypto market boom and increased media attention.
  • In January 2018, IOTA suffered a network outage due to a bug in its software that affected its Coordinator node.
  • In February 2018, IOTA faced controversy over its use of a custom hash function called Curl, which was found vulnerable to attacks.
  • In March 2019, IOTA released its Trinity wallet, a user-friendly and secure mobile and desktop wallet for storing and managing IOTA tokens.
  • In August 2019, IOTA Crypto announced its Coordicide project, which aims to remove the Coordinator and enable a fully decentralized IOTA network.
  • In February 2020, IOTA crypto experienced another network outage due to a hack that compromised its Trinity wallet and resulted in the theft of over $2 million worth of IOTA tokens.
  • In April 2020, IOTA launched its Chrysalis upgrade, which improved the performance and usability of the network and paved the way for the Coordicide transition.
  • In April 2021, IOTA crypto reached its second all-time high of $0.3851 amid the crypto market rally and increased adoption of IoT devices.

IOTA Crypto Price Analysis

The current Price is $0.21 with a market cap of $590.1mn and a 24h trading volume of $15.1 million. The price has moved up by 6% in 1 day and 14% in 1 week. Let’s have a look at the chart for trend analysis:

Iota Crypto Price Analysis

On Daily timeframe level the price action of $IOTA Formed out Descending Triangle pattern level where the price action broke out the resistance trendline of it and successfully retest after the breakout candle we can see further upward movements before as well an Higher low level.

Future

IOTA coin has a promising future as it continues to develop its technology and ecosystem for the IoT domain. Some of the upcoming milestones and goals that IOTA has are:

  • In Q2 2023, IOTA plans to launch its Coordicide phase 1 upgrade, which will implement the core modules of the decentralized network, such as consensus mechanism, node identities, mana system, and auto peering.
  • In Q3 2023, IOTA plans to launch its Coordicide phase 2 upgrade, finalizing the decentralized network and removing the Coordinator node completely.
  • In Q4 2023 or later, IOTA plans to launch its Smart Contracts Protocol (ISCP), enabling smart contract functionality on top of the Tangle.

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Harsh Panghal
Harsh Panghal

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