With the recent upwards surge in the crypto market, many altcoins are following up with the same trend as both Bitcoin (BTC) and Ethereum (ETH). The top two cryptos managed to reach their prominent ranges after a long time, with the BTC at about $51K and ETH touching $4K respectively. In spite of all this, one altcoin took the hot place in the past 24 hours, and so is now the hot topic for the day among crypto enthusiasts. This is the IOTA (MIOTA), which spiked up and is still spiking up profusely.
The Epic Surge
Accordingly, the IOTA (MIOTA) reached a maximum of about $2.0646 in the early hours of September 5. In spite of such a surge drastically from $1.583 to the highest of $2.064, witnessing a spike of about 71%, the IOTA (MIOTA) is till now the hot gainer for the day over the past 24 hours.
However, in the past few hours, the IOTA (MIOTA) started to slump down but within the safe zones though. Also, now the MIOTA stands between $1.87 to $1.82 at the time of writing. In addition, the lowest to the highest for the past 24 hours is $1.589 and $2.0646 respectively.
Moreover, MIOTA’s all-time high for the past whole month corresponds to this $2.0646. Besides, many speculate that IOTA is all set and ready to touch its overall all-time high of $5.4 again.
Furthermore, its on predictions that if the same graph follows, trading between the safe ranges of $1.87 to $1.82 , IOTA will probably surpass its previous ATH.
Amidst all this, now IOTA is trading for about $1.83 with an overall surge of 11.55%. The market cap value accounts for about $5.77 billion. This is quite evident as IOTA secures 11th place in the overall crypto market.
About IOTA (MIOTA)
The IOTA is a completely open-source distribution ledger solely for the Internet of Things (IoT). The most surprising element of the platform is the fact that it does not possess a blockchain or be supported by any blockchains. Accordingly, instead of using blockchain technology, the IOTA consists of the technology ‘Tangle’.
In addition, these tangles are actually a system of nodes upon which all the transactions are stored for the platform. Moreover, it’s termed that these tangles are faster than blockchains to a greater extent. Also, as there’s no blockchain, there’s no mining and so there are no transaction fees on this platform.
Therefore, they depict that the cost on all aspects is extremely low and the best compatibility for all sorts of IoT-based systems.
The native token of IOTA is the MIOTA. Moreover, in spite of its extreme usabilities, IOTA is partnered with many technology companies such as Dell Technologies, Jaguar Land Rover, and Zebra, etc.