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IOTA Price Index - Real Time Price Graph

In the future, your phone and computer won’t be the only devices connected to the Internet. Economic activities will take place between devices, with machines ultimately bringing products and services to people without the need for human intervention.

IOTA (mIOTA) is the first open-source distributed ledger designed specifically to power the Internet of Things (IoT), via data integrity and completely fee-less microtransactions.

The lack of transaction fees makes IOTA perfectly suited to processing these micro-transactions.

With 75 billion connected devices predicted by 2025 and 1 trillion by 2035, most analysts are optimistic about the price of IOTA long-term.

(MIOTA)

IOTA

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Where to Buy IOTA?

IOTA can be purchased on several cryptocurrency exchanges around the world but you may struggle to find a fiat currency market pair. Most often, you will need to purchase another coin first like Bitcoin or Ethereum, to access IOTA markets. 

If you don’t want the hassle of storing your coins, it is possible to buy price exposure to IOTA through a broker or OTC desk. While convenient, it is important to choose one regulated by global authorities.

A Brief History on the Price of IOTA

When considering whether or not to invest in IOTA, you will need to analyze both the fundamentals of the token, price history, and the macroeconomic environment for cryptocurrencies. Let’s take a look at some of the key news events that have affected the price of IOTA in recent times.

Key News for IOTA

Due to the expected growth in the machine economy, the long-term price outlook for IOTA is a positive one with the network positioning itself to capitalize on this enormous transfer of value.

Recently MIOTA has been trading at about $0.20, well off its all-time high of $5.69, at the peak of the bull market in 2017. Like many cryptocurrencies, the 2018 bear market hit IOTA hard. It also suffered losses on March 12th due to the Black Thursday crash.

More bad news came for the digital currency when hackers exploited a vulnerability in the IOTA wallet app, which forced the entire network to shut down.

The attack was on the wallet and not the network itself and it is possible the market may have overreacted in the subsequent selloff. With the vulnerability now identified and patched, the price of IOTA appears to be in the early stage of a recovery phase. When you look at the list of corporate partners IOTA has secured, things still look very bright for IOTA’s token price.

IOTA’s next update to the network Chrysalis or IOTA 1.5 was recently announced, which will include major improvements in readying the IOTA Tangle for enterprise use. IOTA 1.5 is planned to take place in two phases leading up to October. The upgrade, new IOTA projects in the field of industrial IoT in Japan and China, along with rumours of new patents with Volkswagen Group, all point to bullish trade winds for IOTA in the short and long-term. 

IOTA Timeline

  • September 2014
    IOTA’s roots trace back to the Jinn project, announced in September 2014 on an NXT forum
  • May 2015
    David Sønstebø, Dominik Schiener, Serguei Popov, and Sergey Ivancheglo create the IOTA ledger 
  • December 2015
    In December 2015, IOTA hosts a successful crowd sale, raising around 1,337 Bitcoin (approximately 500,000 USD)
  • July 2016
    IOTA launches on Mainnet.
  • June 2017
    IOTA begins trading on exchanges (Price of IOTA opens at $0.63 and closes marginally down at $0.53)
  • December 19, 2017
    IOTA price reaches an all-time high of $5.69 USD at the peak of bull market  (IOTA opens at $4.24 and closes at $5.37)
  • August 27, 2018
    Fujitsu backs IOTA as a new protocol standard in their partnership (IOTA jumps 21% to a $1.8 billion market cap, opening at $0.56 and closing at $0.67)
  • November 14, 2018
    Bosch signs a partnership deal with IOTA (IOTA opens at $0.49 and closes at $0.43)
  • April 3, 2019
    IOTA becomes founding member of New International Association of Trusted Blockchain Applications (INATBA) (IOTA opens at $0.35 and closes fractionally down $0.33)
  • February 2020
    IOTA cryptocurrency shuts down entire network after IOTA wallet hack (IOTA opens at $0.32 and closes at $0.28)
  • March 12, 2020
    IOTA announces partnership with TradeMark East Africa to bring supply chain transparency to trade infrastructure. (IOTA opens at $0.19 and falls to $0.11 due to Black Thursday crash)
  • March 13, 2020
    The following day after Black Thursday many coins hit all-time lows (IOTA records its all-time low at $.07)
  • May 29, 2020
    The IOTA Foundation will implement new projects in Chile, in Japan in the field of industrial IoT and various other projects. (IOTA opens at $0.20 and remains fairly stable)

Compare IOTA With Fiat Currencies, Commodities and Crypto

When you look at how IOTA has performed in 2020 compared with commodities and other currencies, it’s pretty impressive considering it has not been all smooth sailing for the cryptocurrency. 

Despite a wallet exploit and the brutal March 12th selloff, IOTA has still managed to outperform most physical commodities in a year where COVID19 has been disrupting world economies.

Compare IOTA With Gold

Gold is one of the greatest safe-haven assets the world has ever known. With the COVID pandemic causing economies to lockdown, the yellow metal has predictably been heading north, up 15% for 2020 at the time of writing.

Cryptocurrency has yet to firmly assert its position as a non-correlated asset class, yet many large-cap cryptocurrencies outperformed gold in 2020. This could be due in part to concerns over seemingly unlimited quantitative easing measures, which are raising concerns over inflation down the line.

IOTA gained 26.8% in 2020, outperforming gold’s 15% gain over the same period.

Compare IOTA With Bitcoin

 Of all the cryptocurrencies on the market, Bitcoin is the one most considered a safe haven asset and a store of value. This is due to the economics of Bitcoin and its limited supply. 

Often referred to as ‘digital gold’ Bitcoin has performed well amongst the global economic turmoil, posting a 30% gain since the start of the year. IOTA nearly kept pace with the orange coin with a 26.8% increase.

Compare IOTA With Crude Oil

Of all the commodities you wouldn’t want to hold during a global pandemic, oil might be the worst of all. The world was shocked when the price of crude plummeted to negative prices per barrel, with a global supply glut due to economic lockdowns having a harsh effect on ‘black gold’. 

This, compounded with a price war between the world’s two biggest oil producers Russia and Saudi Arabia, caused the biggest crash the oil market has ever seen. While prices have recovered somewhat, WTI Crude is still down over 40% year to date. In contrast, MIOTA performed far better since January. 

Compare IOTA With Ethereum

While IOTA is a cryptocurrency, the network is not actually a blockchain. Rather, IOTA is built on the Tangle - IOTAs Directed Acyclic Graph (DAG) transaction settlement and data integrity layer.

Both IOTA and Ethereum have unique features that distinguish each other, and price comparisons need to be taken with a grain of salt due to the different nature of the technologies.

With the much-anticipated Ethereum 2.0 rollout on the horizon, ‘ETH’ has seen a stellar 2020 so far, rising 65% and outpacing just about every asset class known. 

IOTA is still recovering in price from the bear market and wallet hack in February but still managed a 26.8% increase.

Compare IOTA With Copper

Along with crude, copper is another economically sensitive commodity you wouldn’t want to have been holding at the start of 2020.

The copper price was expected to rally in 2020 with the US and China calling a truce to their trade war. However, COVID19 had other plans and copper is now dependent on an industrial recovery in China, something that might be some time off.

Copper is down around 15% this year, being significantly outperformed by IOTA by around 41%.

IOTA Future Price Predictions

Price predictions in a market as volatile as the cryptocurrency market are notoriously difficult to nail down with any degree of certainty. 

To inform our thesis, we will need to look at a number of important factors including the project’s fundamentals, the macro outlook for the cryptocurrency market, and the global economy in general. 

Though past price performance is no guarantee of future performance, price history remains an important indicator we will need to analyze in determining our prediction.

IOTA Price Predictions for 2020

Like many large coins in the cryptocurrency market, IOTA is recovering from the sell-off that occurred on March 12th and looks to be developing a bullish market structure.

IOTA is a lot closer to its all-time low than it is to its all-time high, suggesting plenty of upside potential in the short-term. 

With the network continuing to grow and add partnerships with leading companies, most analysts are predicting IOTA will move up rather than down. 

With the Internet of Things predicted to become a truly massive phenomenon, IOTA is in the driving seat if it can deliver its vision of enabling the Machine-to-Machine Economy and Internet of Things Industry.

The amount of data being consumed by IoT devices is enormous, and a system is needed to handle small fees or purchases to prevent bottlenecks of data. IOTA is firmly focused on being that system.

The cryptocurrency review site walletinvestor.com is suggesting that in 2020, the price of IOTA could increase to $0.44, an increase of over 100%. 

With it rebounding from historic lows and the overall cryptocurrency market forming a bullish market structure, it is entirely possible that the price of IOTA will double before the year is out. 

Price Predictions for 2021

Our world is becoming more and more digitally interconnected. Sometimes referred to as the 4th industrial revolution, the Internet of Things is growing rapidly and many analysts expect the IOTA network to grow with it.

In analyzing the macro outlook for the cryptocurrency market, many are predicting 2021 to be a coming of age year for the nascent asset class. Prices of large-cap coins have been recovering across the board from the brutal bear market in 2018.

With the entire cryptocurrency market cap still less than that of some major multinationals, it is very possible that previous all-time highs will be broken in 2021. 

The Italian cryptocurrency site www.previsionibitcoin.it is forecasting that the price of IOTA will rise to over $2 in 2021.

Beyond 2021 for IOTA

With 75 billion connected devices predicted by 2025, most analysts are optimistic about the medium-term price forecast for IOTA.

If the network is able to capture just a proportion of that value, the IOTA token should command a far higher value. 

The reality is that there are few networks as well suited to capturing value from the machine economy than IOTA, with its zero fees and transaction speeds.

Analysts are typically bullish when discussing price potential for IOTA long term. We believe the cryptocurrency has a great chance of eventually surpassing its all-time high of $5.69 if it can capture significant value from the machine economy. 

IOTA Price Conclusion

When you take into account the price history of IOTA and the fact it has been buffeted by less than favourable trade winds in recent times, it is not a stretch to suggest the market is currently undervaluing the cryptocurrency.

IOTA’s price took a big hit on March 12th due to no fault of its own along with the wallet hack earlier this year, but the vulnerability was with a wallet and not with the main network. This fact seems to have been overlooked by many investors.

The fact is that with the Chrysalis upgrade for IOTA 1.5 is coming up in October 2020, and the IOTA network will be more ready for enterprise use than ever.

Long-term it is forecast that there will be over 1 trillion connected devices by 2035 and the IOTA network is well-positioned to capitalize on this enormous transfer of value. With increased usage, the MIOTA token will no doubt increase in price.There may be some volatility in the short term however, and this can be capitalized on by trading IOTA through a recommended broker, whereby you don’t have the hassle of owning and storing the coins.

 

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FAQs

  1. The machine economy is growing rapidly with 1 trillion connected devices predicted by 2035 including sensors on public infrastructure, commercial lighting, cars, appliances, connected security systems, and wearable electronic devices. IOTA is attempting to be the platform to facilitate these transactions and the machine economy as a whole.

  2. The outcome of the first phase of the Chrysalis upgrade in October will be transaction confirmation times of around 10 seconds, a substantial TPS increase on the mainnet, performance and reliability improvements for nodes, and reduced node setup times through auto peering.

  3. The Tangle and blockchain are two completely distinct architectures created with the same principles of decentralization. The main difference is in the data structure - the Tangle is based on a DAG (Directed Acyclic Graph), which reaches consensus differently to a blockchain. With IOTA, every participant in the network actively participates in the consensus. This process is decentralized with no miners to trust or transaction fees to pay.

  4. No. IOTA is available on numerous cryptocurrency exchanges worldwide but you may need to buy another cryptocurrency first to gain access to IOTA markets. You will also need to research what wallets are available to store your IOTA securely.  If you merely want to buy IOTA for trading purposes and gain access to IOTA price exposure without having to store the coins, brokers are generally easier to use and often cheaper. Make sure to choose one that is regulated by a global authority to ensure safe trading.

  5. Cryptocurrency exchanges vary greatly in terms of security and some have been hacked in the past. That’s why experienced cryptocurrency investors don’t recommend leaving your coins on a centralized exchange. Brokers don’t often have this problem, as they don’t store any coins on their servers. Choose one that is regulated and that employs market leading trading software like MetaTrader 4 (MT4) and MetaTrader 5(MT5).

  6. While we have covered some of the issues that could affect the IOTA price in the future, you can never do too much research. It is always a good idea to gain access to the community before putting funds down. Don’t just take our word for it. Go to IOTA’s community group and see what insiders are saying about the project’s progress.