IOTA is a decentralized ledger built to serve as an ecosystem for various systems that utilize the Internet of Things (IoT) technology. It also has its unique token known as the MIOTA. Since its launch, IOTA has had mixed performances, with most of its gains dissipating over the years.
The team behind IOTA has promised to do a lot to spearhead its rebound, as evidenced by their announcement of the Stardust upgrade. Most blockchain enthusiasts hope that these and similar developments will make this project a worthwhile investment.
However, if you need more, this article provides the most optimal IOTA price prediction and analysis for your consideration.
What Do We Know About IOTA
MIOTA, IOTA'S token, is the fuel for the decentralized ledger, and its unique purpose is to facilitate the microtransactions between the Internet of Things devices. The project began in 2016 with a seed funding of $500,000. The IOTA project was a brainchild of David Sønstebø, Dominik Schiener, Serguei Popov, and Serge Ivancheglo.
IOTA's tokenomics is a unique model designed to incentivize active participation within its network. The system revolves around two primary assets: The IOTA tokens and Mana. The tokens serve as the network's primary currency, with a total supply of 2,779,530,283.
On the other hand, Mana is generated through the tokens, and its sole purpose is to execute actions within the IOTA network. It's also a reward mechanism for loyal users who contribute to the security of the network. Users can acquire Mana through staking and delegating.
IOTA Market Position
When IOTA launched, it didn’t take long to issue an ICO, and this move turned heads to the extent of gaining $590k in funds. At the time, a billion MIOTA coins were issued, each costing only $0.00059.
Moreover, the altcoin bubble in June 2017 saw MIOTA posted on CoinMarketCap at $0.5923 and a total valuation of $1.17 billion. During this period, there were plenty of crypto transfers as traders profited from the surge in digital coin prices. Exchange pairs such as XMR to Bitcoin were quite profitable at the time.
It didn't take long for MIOTA's price to skyrocket, hitting the $5.69 price tag in December 2017 with a market cap of $14.12 billion. Unfortunately, the bull run would not last forever — its price nosedived to $0.2131 by December 2018. The coin tried to bounce back in 2021 to trade at $2.5142. However, it didn't stay up for long; at the beginning of 2022, the price plummeted, and it has lingered below the $1 mark ever since. As of October 2023, 1 coin is valued at $0.15.
IOTA Price Prediction 2023
Throughout 2023, IOTA’s price has been on the highs and lows, making it difficult to predict how it will finish the year. Despite the bearish market, IOTA’s price fundamentals have remained relatively solid.
SwissOne Capitam AG, a Swiss asset manager, recently launched the IOTA Shimmer Fund. This development and other bullish announcements for the IOTA project, such as the proposed partnership with Cardano, will help its liquidity. However, such developments take effect after a considerable amount of time, suggesting that we're likely to see IOTA hitting its bottom end in the short term.
Experts predict that the IOTA price may hit a low of $0.12, a high of $0.22, and an average price of $0.17 by the end of 2023.
IOTA Price Prediction 2024-2027
IOTA, unlike other crypto such as Ethereum, uses the DAG technology. This tech doesn't function like a blockchain — therefore, users do not have to pay gas fees because there are no miners.
The ecosystem is free in minting NFTs, trading, and voting as IOTA targets to achieve ISO 20022 compliance. Therefore, experts predict MIOTA’s price to hit a low of $0.6 and a high of $1.10 by 2027.
IOTA Price Prediction 2028-2030
Considering the ecosystem’s planned developments and historical price changes, experts expect MIOTA to maintain an average price of $0.87 in 2028 — a low of around $0.71 and a high of $1.02.
In 2029, the prospects of MIOTA appear even brighter as the token may reach an average of $1.04 with a high of $1.23 and a $0.86 low. Fast forward to 2030, and there's potential for MIOTA to climb to a high of $1.57. If history is any indication, we expect minimum and average prices to be around $1.09 and $1.33, respectively.
Is It Time to Invest in IOTA?
Our price analysis shows that investing in IOTA over the remaining part of the decade might indeed be a profitable choice. Our long-term IOTA forecast suggests that by 2030, the price could potentially surpass the $1.50 mark.
However, it’s crucial to remember that the crypto market can be highly volatile; hence, these predictions come with a degree of uncertainty. Therefore, while the potential for substantial gains exists, you need prudent financial decision-making when investing in IOTA or any other cryptocurrency.
