![]() In terms of the market, the IOTA price of $0.85 today is 195% higher since the start of 2021. In the market, ADA has performed better than MIOTA, with the former now a top 10 coin while the latter has dropped to the top 50. However, IOTA is not as popular as Cardano. Cardano is set to establish itself as a major crypto network in the smart contracts and dApps space, while IOTA is only starting to realise its IoT goal.īoth coins boast broad utility, better scalability, and efficiency. Both are also unique in their approach to problems facing pioneer platforms. IOTA and Cardano are both altcoins that were created in response to limitations and problems facing Bitcoin. For IOTA, the projected price was that it will reach $1.26 to give it a +324% change in 2021. For 2021, projections had put the Silver price at $24.91, suggesting a -6% change for the year. ![]() ![]() In comparing the price of silver to that of IOTA, we see that XAG price of $23.90 is -10% year-to-date while MIOTA is trading at $0.88 for a 195% increase YTD. Scarcity and volatility affect both in the market, but the upside potential for IOTA is more as compared to Silver given its price history. However, like Silver, MIOTA is tradable 24/7 across several platforms. IOTA, on the other hand, is a cryptocurrency that is relatively new in the market. The asset has been around for much longer and therefore a big part of investment portfolios. The precious, mineable element is often considered a store of value. Silver is one of the rare and highly valuable metals openly traded across spot and futures exchanges. Is IOTA a good investment? To find out, let's see how the cryptocurrency compares to fiat currencies, commodities and other cryptocurrencies. Compare IOTA with Fiat Currencies, Commodities, and Crypto ( Price has been in a downtrend and it continues through May, breaking below $1.00 decisively in June). IOTA's Chrysalis update activates as the network implements IOTA 1.5 in the race to make the DLT platform enterprise-ready. ( Market reacts lower, with price dropping from $0.31 to $0.28). ( Price drops nearly 30% over the month reaching $0.21 on 29 February). The affected coordinator restarted in March 2020. IOTA experiences a downtime after the IOTA Foundation shut down a coordinator compromised in a November 2019 attack. ( Price has dropped and reached lows of $2.20). A 36-year old UK citizen was later arrested as the mastermind behind the attack. The attack remains the worst in IOTA's history. Hackers steal over $10 million worth of MIOTA after a breach in the IOTA seed-creator. ( IOTA price more than triples from $0.41 to over $1.44 before rising to its all-time high in December). ![]() The move is aimed at ensuring the platform's development is standardised. The charter allows IOTA to work with researchers and institutions. The IOTA Foundation is registered as a not-for-profit. Controversy erupts regarding the response from the IOTA Foundation, which appeared to downplay the threat and also blames the researchers. Researchers from Boston University and MIT released a report on a potential security flaw in IOTA's hash function. IOTA Timelineīitfinex is the first major crypto exchange to list MIOTA, the native token on the IOTA network. But it also remains vulnerable to such global events and news. The reversal is in line with most other cryptocurrencies and means that the IOTA price is likely to go even higher as the cryptocurrency network matures. But as you will see in subsequent sections, the coin's price has since soared to highs of $2.63 recorded on 17 April 2021. It remains the lowest price level for MIOTA to date. As world leaders scrambled to contain the spread of the virus, markets began to tumble and businesses closed down as consumer spending tanked to lows not seen in a long time.Ĭryptocurrencies were not spared, and on 13 March 2020, the IOTA price fell from $0.20 to $0.08. Officially, the world was headed for another recession that looked set to be worse than the economic crisis of 2008/2009. As several countries reported a spike in the disease, governments were forced to outline international travel bans and lockdowns by March. In 2020, as the effect of the coronavirus pandemic hit the global community, economies began to shrink amid a worsening health crisis. In the sections below, we look at some key news and the timeline of events for IOTA. While fundamental growth has played a key role in the price action of MIOTA, key global news and events have also had a fair share of impact on overall price movements. Since the IOTA token sale, there have been major developments on the network, with market performance often fluctuating to reflect the prevailing sentiment.
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