MIOTA is the token powering the IOTA platform, which utilizes smart contracts to execute transactions between devices in the IoT — the internet of things. The token’s worthiness depends on how successful the ledger is.
You can find price predictions MIOTA to vary from less to more optimistic. The article below focuses on analyzing the performance of the platform and token in the past to see how they could do in the future. Here’s what you should know about MIOTA before acquiring or trading it.
You should understand the IOTA ledger first. It’s an open-source platform that doesn’t utilize blockchain technology. Furthermore, it tries to fix some problems that blockchain solutions often face, such as scalability. IOTA uses the Tangle, a unique confirmation mechanism. It records transactions in a stream and entangles them together by utilizing the DAG — Directed Acyclic Graph.
IOTA requires each user to verify two transactions to execute the next one. There are no rewards, but the incentive is that other users validate your transaction. Thanks to this, IOTA is capable of avoiding any fees, which makes it tempting for users. The ledger aims to be utilized in Web 3.0 and the IoT, and it already works with numerous companies to implement this technology in their solutions.
MIOTA is the native token used on this platform. Its distribution was fair since there were no founder or early corporate investor coins. It’s a truly open-source and non-profit foundation.
The token’s current market cap is around $600 million. It dropped to the 66th spot in the rankings, although it used to be among the 30 most popular cryptocurrencies.
MIOTA’s current value is around $0.2. It entered the market in 2017 with a price of $0.59, which is almost three times today’s worth. The initial year was the most successful for the coin since it reached $5.69 in December 2017.
The huge jump was unexpected, so MIOTA started losing its value in 2018 and the coming years. It dropped to an all-time low of $0.079 in 2020. The next year was the year of recovery, and the coin managed to stay above $0.5 until April 2022. From there, it almost continually lost value until reaching today’s price.
What if we tell you that experts put MIOTA’s value at up to $9.8 in a decade? These are all educated guesses that you can’t exactly rely on, but it’s still interesting to see what experienced crypto users think. And here are their forecasts for the coming years:
2023. It could take a while for MIOTA to boom, so some experts warn its value might not go above the current level until the end of 2023. Others believe it could double to $0.46, indicating a decent chance to profit.
2025. Most experts agree that this is when MIOTA will go beyond $0.5 and maybe even reach $0.7.
2028. The majority agrees it will be hard for the coin to exceed $1 by 2028. But if the crypto has a few good years, MIOTA’s worth could even reach $1.5.
2032. The token’s performance largely depends on the overall market. With a positive trend, it could reach $9.5. But more realistic predictions put it at around $3.8 to $4.
As you can see, only the boldest forecasts see MIOTA going beyond its all-time high in the next decade. So, if you have some crypto like Ripple, it’s better to consider an XRPBTC trade than converting it to MIOTA.
MIOTA is here to stay as a truly open-source project that offers an alternative to blockchain. Web 3.0 and the IoT are the internet’s future. The more they develop, the better the odds for MIOTA to succeed. There’s no doubt the coin could be profitable in the coming years as its value could increase 20 times or more in the next decade.
But as an experienced trader, you need to assess all potential trading options. Don’t hesitate to analyze different currencies and pairs to identify the best moves and strategies. And if MIOTA is up your alley, don’t hesitate to use this crypto to gain profit!