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IOTA, the forgotten cryptocurrency – CRIPTO TRENDENCIA


IOTA, the cryptocurrency that aims to revolutionize the Internet of Things sector, was all the rage in 2017, when it hit its all-time high at US $ 5.69, according to CoinMarketCap. Then, in March this year, it posted its minimum at US $ 0.07.

At the time of writing, IOTA is trading around $ 0.39, turning its short and medium-term trend to bullish.

In the graph below it can be clearly seen how IOTA has been rising steadily since its March low. Will this trend continue in the remainder of 2020?

IOTA chart of the last 6 months. Source: Binance
IOTA chart of the last 6 months. Source: Binance

What Makes IOTA Different?

IOTA was released to the public in 2016, being an effort of the IOTA Foundation. It is a non-profit organization, based in Germany, dedicated to the development of technologies and the promotion of their adoption.

When launching its cryptocurrency, IOTA decided to base it on its own Blockchain platform, but with a different operating protocol. Thus was born Tangle, a network whose design allows no commissions to use it, a lower network latency, and better scalability prospects.

The main objective of the cryptocurrency is to serve for the storage and exchange of data related to the Internet of Things.

IOTA projection

In the short term the trend is strongly bullish, with a marked resistance at US $ 0.40. The next goal is at US $ 0.56, the maximum recorded in 2019.

IOTA is undoubtedly a “risk” bet, since if it does not manage to overcome the immediate resistance at US $ 0.40, the bears can take control of the situation. On the contrary, if the bulls win the pulse, the value can go very high, at least up to 1 dollar.

If we look at its historical graph, it can be seen that the value of the Token was just taking off.

The data to take into account

According to a June 30 post, the Blockchain project has entered the first phase for its latest updates on the IOTA 2.0 network.

Much of its future will depend on how IOTA 2.0. Evolutions, which does not intend anything other than to function as a true decentralized network by 2021.

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