You will agree that no industry has been spared the might of blockchain technology, and for a good reason; we can say that it turned out to be the best thing to happen to some organizations when they decided to integrate distributed ledger technology or some fractions into their systems.
One major reason blockchain technology is very efficient is the enhanced security, scalability, and speed which is a significant part of its makeup; integrating such a kind of technology into the mainframe of any system will instantly boost its efficiency. Recently some blockchain platforms surfaced with the sole purpose of driving a wide adoption of blockchain technology and helping people go digital with their businesses.
One such platform is IOTA. This blockchain network, with the help of distributed ledger technology and smart contract functionalities, can assist companies and startups in tapping into the power of groundbreaking technology.
MIOTA, the native token of this network, has, in recent times, caught the fancy of coin experts, crypto analysts, and enthusiasts due to its numerous use cases and growth potential. However, they have also wondered what the token's price will be in the coming years. In this article, we will briefly discuss IOTA crypto before highlighting the long-term price prediction of MIOTA by cryptocurrency experts.
What Is IOTA (MIOTA)?
IOTA is a feeless, open source, and scalable distributed ledger platform designed for the Internet of Things ecosystem, an upcoming technology that allows non-living things, singular or groups, to have inbuilt sensors coupled with a processing ability software programs and other essential technology enabling it to connect and exchange data with other devices remotely.
IOTA functions similarly to a Blockchain network but does not have blocks or miners but stores information directly on ledgers, giving it higher scalability over Blockchain-based ledgers. In addition, the platform uses nodes to validate a new transaction on the network instead of miners or validators; however, two transactions must be approved before the validation, resulting in feeless transactions and a platform capable of handling microtransactions.
IOTA initially achieved consensus through a coordinator node, operated by the IOTA foundation, a single body, making it a centralized platform. However, it upgraded to IOTA 2.0 or Coordicide in 2021, transitioning to a decentralized platform through the help of Tangle, an innovative distributed ledger technology that confirms transactions with the use of a system of nodes.
The IOTA platform uses MIOTA, a pre-mined cryptocurrency, to account for transactions on the network. Currently, the token is worth $0.26 with a market cap of over $726 million and a total supply of over 2 billion tokens.
Brief History Of IOTA (MIOTA)
The IOTA platform idea was conceptualized in October 2015 by David Sønstebø, Sergey Ivancheglo, Dominic Schiener, and Serguei Popov as a unique p2p distributed ledger with the primary objective of democratizing and powering the Internet of Things (IoT) economy.
However, we could trace the platform root back to some years earlier during the Jinn project, a project that had the sole purpose of developing low-cost yet energy-efficient hardware for the development of the Internet of Things ecosystem.
A year before the birth of IOTA, Jinn held its public sale in September 2014, selling over 100,000 tokens which amounted to $250,000. However, because they marketed the coins as profit-sharing tokens, they could not maintain the status quo for two reasons, there was confusion about their regulatory status, and secondly, ICOs were new features to the crypto industry at the time.
To save the project, they rebranded to IOTA in 2015 and held a public sale of the token, but this time, it was marketed as a utility token. In addition, all who own Jinn could easily swap it for an equivalent IOTA token.
In 2016 they launched the platform, but they faced much criticism due to the unusual design of the platform, which has not been proven satisfactorily to work in practice; as a result, they made an update to the network, chrysalis or IOTA 1.5 in April 2021; however, they already deployed testnet for the next upgrade Coordicide or IOTA 2.0 in late 2020 to which will transition them to a decentralized network, thereby shifting power from the single body that initially validates transaction Coordinator node, and replacing it with Tangle, a system of nodes charged with the responsibility of validating transactions on the network. On July 23, 2021, IOTA 2.0 went live and has been operating ever since.
MIOTA, the native currency of the platform, is a pre-mined token with only a total of 27 quadrillions expected to exist; however, there are only 2 billion MIOTA tokens currently in existence as total supply, and all of them are in circulation.
The Protocol IOTA Uses
IOTA, unlike other Blockchain-based networks, employs a rare method of validation, using Tangle, a Decentralized Acyclic Graph (DAG), to manage numeric representations uniquely, embedding it with unique scaling abilities through the removal of topographic hurdles and well-known limitations of traditional Blockchain like Bitcoin.
The DAG on IOTA Tangle is a new mathematical concept, and when applied to existing Blockchain tech results in exciting decentralized applications. Even though other blockchain networks can be said to use DAG, Only IOTA fully utilizes this tool because of its unique parallel system.
Further, Tangle can process transactions simultaneously without following a sequential order. In this way, all transactions are executed, leaving no room for queues. Also, the more nodes Tangle gets, the more efficient and secure the network will become.
What Makes IOTA Unique From Other Cryptocurrencies
IOTA's whole system screams unique compared to other platforms. It employs Tangle, a system of nodes to validate transactions without the need for block miners reducing carbon footprint in the atmosphere and consuming very minute energy compared to traditional Blockchain platforms like Bitcoin, making it eco-friendly crypto.
In addition, it has fully immersed itself in developing the internet of things economy. This whole different structure has made IOTA very unique from traditional Blockchain networks.
Factors That Influence The Price IOTA (MIOTA)
Even though MIOTA was designed for the internet of things ecosystem, it is still a cryptocurrency and thus is very volatile; therefore, its price responds to some external factors, which can be a good influence on the token, or it could go the other way round. In this section, we will consider three factors that directly influence the price of the IOTA token MIOTA.
Crypto Market Condition
Like all cryptocurrencies, when the crypto asset that holds the lion's share of market dominance is down, it's natural that others follow suit. The current winter market has made Bitcoin the king of cryptocurrencies, and the digital asset holding over 60% of the market dominance loses value drastically, dropping from its known ATH of $70,000 to an average trading price of $19,000, losing over 72% of its price value.
In a highly bullish trend, Bitcoin often pulls the rest of the market. With the extreme bearish trend, the market is experiencing all crypto assets, MIOTA included, feeling its effects.
MIOTA, for example, has lost over 92% of the value that it acquired when it hit a peak of $5.69 in 2017. However, like all bearish seasons, this one, too, will open the way for a bull run. When it does, the price of Bitcoin will soar, pulling the rest of the assets in the market with it, including MIOTA.
Visible Growth And Platform Development
Updates, upgrades, and partnerships are important factors that influence the price of a cryptocurrency. Updates and upgrades will help the public to see that the platform is doing all it can to expand and improve its services. It will also denote to some extent that the project is legit.
Partnerships, on the other hand, will show that the platform is growing and catching the attention of established organizations. The IOTA team has done well in all these areas. For example, initially, the network was centralized, but they developed two updates that enabled it to transition from centralized to decentralized. Not only that, but the upgrade also brought about more efficiency.
IOTA has partnered with several prominent companies and Automotive giants like Volkswagen, Jaguar Land Rover, Dell Technologies, and Bosch. They are also in partnership with projects designed to help the IoT ecosystem, like Smart city and crypto charging stations for electric vehicles.
Demand And Supply
When there is demand for a cryptocurrency, naturally, its price rises; however, when there is less to no demand at all, a crypto asset can lose value to the extent of becoming useless. The same is true for MIOTA; when it was released into the market, there was increased demand for it due to Fomo, leading it to its ATH of $5.69 in December 2017. Still, it could not maintain the price as there began to be less demand and increased selling, making it dump hard by the end of 2018.
Further, when there is an unlimited supply of a cryptocurrency, it tends to lose value due to excess remainder in circulation, overshadowing demand. For a digital asset to maintain value, there needs to be some scarcity, which can only come from a capped supply; many cryptocurrencies have a limited supply, and even Bitcoin, the largest crypto in the market by market cap, has only 21million tokens in existence. MIOTA also has a capped supply of over 2.78 billion tokens.
IOTA Past Price Performance- A Complete Price History Of IOTA
IOTA crypto launched in 2016, a year before the massive bull run of 2017; However, the IOTA team had their first ICO in 2015, and their token MIOTA had its first major listing in 2017 when Bitfinex listed it among the assets tradable on their exchange on June 13.
The token started with a floor price of $0.24 in July 2017, with severe monthly dips that made it drop close to -40%. However, by the end of the year, a sporadic change made MIOTAs price skyrocket along with other cryptocurrencies; Bitcoin, the Top crypto asset in the market, entered into a massive bull run pulling all other assets with it.
By November, MIOTA prices had soared so much that they increased by 230%, bringing it to its ATH of $1.3. The following month MIOTA had a groundbreaking increase that led it to its new ATH of $5.25.
However, 2018 brought a severe bearish trend and negative momentum for all crypto assets, including MIOTA. Throughout that year, the token recorded $1.95 as the highest price, with an 87% price jump in April and several dips in the months that followed. By November 2018, MIOTA crashed to $0.28 and continued to have a downtrend all through 2019 even setting a new low of $0.16 in the fourth quarter of the year.
There was a slight increase in price between December 2019 and December 2020, which resulted from an increase in the market's monthly trading volumes when it topped $1.7 trillion.
Nevertheless, it has failed to reach the ATH that it attained in 2017, even after new gains the crypto market saw in 2021 when monthly trading volume rose to $2.2 trillion in value. Its price has continued to stray far away from the recent winter market.
How Is IOTA Doing Now?
Presently MIOTA is worth $0.26, trading at a daily high of $0.269 and a low of $0.25, and it has a market cap of over $729 million, which denotes a 2.05% decrease in value. Its current price shows that it lost over 95% of its price value, which, acquired in December 2017, at its all-time high.
But, it has continued to soar high above its all-time low of March 2020 by over 229% and has made an ROI (return on investment) of over 44,393%. It currently ranks 58th in the crypto market, having a market dominance of 0.08% and a 32.52% increase in its daily trading volume. In the past 24hrs, it has experienced a 2.12% decrease in value.
Current Price Prediction Of IOTA
In the past months, all crypto assets, including MIOTA, have suffered greatly from the current bearish plumb ravaging the whole crypto market. Several cryptocurrencies have crashed beyond recognition, and some have continued to keep their heads above the waters. These digital assets have remained far from their ATH, but they are still moving with the current trend, not succumbing to the bear. Some examples of assets like this are MIOTA, Bitcoin, Ethereum, e.t.c.
MIOTA is currently trading at $0.26, a 2.12% decrease in the past 24 hrs; however, in the coming months of the rest of the year, it may increase in price value.
IOTA Price Prediction For November
October has proved to be a turbulent month for all assets because the bearish condition of the cryptocurrency market has continued. However, price prediction experts have speculated that the remaining months to the end of this year will be favorable for crypto assets, including MIOTA.
According to IOTA price prediction, by November, the token will have an average price of $0.289, with a minimum price of $0.279 and a maximum price of $0.309. However, it's important to note that this is only a speculation based on past price actions. It's important to carry out research before buying any crypto assets, as no one can certainly predict their prices due to extreme volatility.
Short-Term Price Prediction Of IOTA For 2022
2021 was a rough year for cryptocurrencies, including MIOTA, due to the bearish season that gripped the crypto market without mercy; it has continued on this downtrend right into 2022, crippling several assets and making them lose value tremendously. However, a bullish run may occur before year-end, and several crypto experts have created a MIOTA short-term price prediction
Below is a table showing the short-term IOTA forecast for 2022
Long-Term Price Prediction Of IOTA For 2023
2022 has not proved favorable for the crypto market, but a new year 2023, might do otherwise by bringing a bull run that will make all crypto assets soar and reach their previous ATH or attain new ones. Price prediction experts have made a complete IOTA price forecast for 2023. The table below shows the data for the IOTA price prediction
Long-Term Price Forecasts Of IOTA: 2023-2030
By 2030 IOTA must have been around for about 15 years and Bitcoin for 21 years; therefore, there must have been wide adoption of cryptocurrencies due to standing the test of time in world finance.
Experts have made a long-term price prediction for IOTA spanning 8 years, 2023-30. The table below shows the data for the IOTA price prediction
Long-Term Price Predictions By Experts
Several crypto experts have devised price predictions for MIOTA after deep technical analysis of its past price data. Experts like changelly, SwapSpace, PrimexBT, Wallet, Investor, and Coincodex have all studied the past behavioral pattern of MIOTA and come up with long/short-term price predictions of MIOTA.
These experts have come up with the data not because they know that's how it will turn out but because they only speculated the price after careful analysis of past price patterns. Nevertheless, it may not turn out so because of its volatile nature, which sometimes results in price fluctuation; therefore, it's important to do your research before buying any cryptocurrency.
MIOTA Long-Term Forecast By Changelly
Price prediction expert and coin analyst Changelly has made a long/short-term price prediction of IOTA after carefully analyzing its past price history. According to Changelly IOTA price prediction, the token will increase tremendously by next month, reaching $0.30 as the maximum price and closing off the year in December with a max price of $0.31 and a minimum of $0.28. By 2023 the coin is to continue on its bullish run, reaching an average of $0.45 and a maximum of $0.50 by the end of the year. By 2024 it would have increased to an average price of $0.65, a minimum of $0.62, and capped the year with a maximum price of $0.76.
In 2025 MIOTA will have a trading price of $0.98 and reach a max price of $1.12. The following year 2026 could see it climb a height that will bring it to a max price of $1.64 and the trading price of $1.38 by the end of the year, while by 2027, its ROI (return on investment) will increase by 792% resulting in a max price of $2.31, and a speculated minimum of $2.01.
2028 will see it move from the $2 threshold to $3 by reaching a maximum price of $3.34, a minimum of $2.85, and an average price of $2.95; 2029, on the other hand, will lead it close to the present ATH by having a max price of $5.06 which is just a bit behind it ATH of $5.68, it will also have a minimum price of $4.31 and the average price of IOTA will be $4.46.
2030, which marks the last year of the prediction, is expected to bring about an increase that will surpass MIOTA's current ATH by having a minimum price of $6.18, trading at $6.36, and a possible maximum peak of $7.65. This IOTA price prediction by Changelly shows that the MIOTA has a promising future, and it has a high possibility to increase rapidly in price.
But, it's imperative to do your research before you buy any cryptocurrency because cryptocurrencies are volatile; therefore, no one can correctly predict its prices; also, this is NFA ( not financial advice).
IOTA Long-Term Price prediction by Coincodex
Another crypto coin prediction expert Coincodex also made a long-term price forecast of MIOTA. However, their prediction is based on tech growth, unlike Changelly's past price data. There are four factors to be considered during this IOTA price prediction. First is internet growth, followed by google development, next is Facebook growth, while the last is mobile growth.
Their IOTA price prediction spans three years, 2023-25, and they predict that in 2023 if IOTA price should follow the development of the internet, then it will be valued at $0.42; however, if it should follow google's growth, it will increase to $0.51, for Facebook $0.73, and if it follows mobile development, it will be $0.42 same as that of internet growth.
The IOTA price forecast by Coincodex also continues stating that by 2024, if the token follows the growth of the internet, it will increase to $0.55, while following google's growth will result in $0.80, and for Facebook, it will be $1.63. Finally, if it responds to the change in mobile development, it will be $0.54.
Following in the same pattern by 2025, if its price responds to the growth of the internet, it will have a $0.71 price value, google growth is $1.26, Facebook will be $3.63, and mobile development is speculated to be around $0.69, thereby completing the IOTA, price prediction by Coincodex.
With this price prediction, we see that even though Coincodex is not as optimistic about IOTA price as Changelly, they are still quite confident that the coin will increase in value in the coming years; however, this is only a calculated guess. Always do your research.
IOTA Long-Term Price Prediction By Cryptonewz
Cryptonewz, another prominent price prediction expert, has developed a long-term IOTA price prediction spanning 5 years, 2022-2026. By the final part of 2022, they expect the MIOTA to close the year with $1.05 and begin 2023 with a max price of $1.27 but end the year with a trading price of $1.16. by 2024
IOTA coin price prediction by Cryptonewz speculates that it will increase to $1.62 by year-end, and by 2025, it will continue with its streak of Goodluck, only dropping a bit but will achieve a max price of $1.57. 2026 which will see the end of the prediction, will take the coin to a minimum fee of $1.27 and a max of $1.48, signifying a drop in value.
IOTA Long-term Price Forecasts By Primexbt
Primexbt another crypto expert has made a long-term Price prediction of the IOTA coin from 2022-25. They have a different notion about how MIOTA price will turn out in the future compared to Changelly or Coincodex.
According to their IOTA price prediction, the token will close 2022 with a price value of $3 and rise to $4 by 2023 between 2024 and 2025; they speculate that it will garner enough momentum to push it to $20, which will turn out to be its new ATH.
Even though this seems highly unlikely, it's essential to remember that MIOTA, like other cryptocurrencies, is a very volatile asset and can thus respond to a lot of external factors that will make it reach the speculated price or even surpass it, but it can also easily crash. Therefore it's essential to do your research before buying cryptocurrency.
IOTA Price Prediction By Margex Technical Analysis
Margex is a bitcoin-based derivatives platform that allows users to trade different crypto assets with up to 100X leverage size, and at the same time, users can stake their crypto assets to make income. The unique staking feature on the Margex platform makes it one of its kind in the crypto space enabling even beginners to earn without prior knowledge of trading through its staking feature.
Traders can earn up to 13% APY on their staked assets; all staking rewards are set to their staking balances daily with no lockup periods. All of these are possible with the Margex automated system.
Margex experts conducted a technical analysis and past price data on IOTA to forecast IOTA performance. This year hasn’t been favorable for the price of IOTA as the crypto asset has seen over 70% drop from a high of $2.5, with the current bear market affecting the assets extremely. IOTA would do well with the use case and past price performance when the crypto market bounces to its best state.
Frequently Asked Questions About IOTA- Explained
IOTA, MIOTA, price forecast, and prediction are some of the terms that keep coming up in this article. Many times people ask questions regarding this cryptocurrency and its network. In this section, we will briefly answer some of those questions
How High Can IOTA Go?
IOTA price prediction by Changelly expects the coin to reach a possible Maximum of $7.65, while Primexbt, another prediction expert, projected that the Coin could go as high as $20
Is IOTA A Good Investment?
People often ask if IOTA is a good investment. Well, all the IOTA price predictions by experts we have considered in this article have quite an optimistic view of the token; if their prediction comes true, then MIOTA could prove to be a good investment, especially for long-term traders
How Much Will IOTA Be Worth In Five Years?
According to IOTA price prediction by cryptocurrency expert Changelly, MIOTA is expected to be valued at $1.38 in the next five years. Cryptonewz, another coin expert, on the other hand, expects the price of IOTA to rise to $1.48 in the next five years.