Iota reddit coin12/31/2023 ![]() IOTA’s scalable and immutable nature means it can theoretically compute data for any purpose. IOTA’s technology is revolutionary, and while it can be a little complex to understand, it offers many use cases beyond the crypto norms. Instead, it uses a consensus mechanism known as DAG or Directed acyclic graph, which does not require miners, meaning users do not have to pay transaction gas fees.įurthermore, the DAG technology means that the more network participants there are, the quicker transactions will process. Unlike its competitors like Ethereum, IOTA is not a blockchain. However, the potential use cases span far beyond smart home devices, and IOTA does it in a verifiable, secure, interoperable and, best of all, free way. The Internet of Things can be considered similar to smart devices because they are “things” brought online. IOTA Price Prediction 2024Īs mentioned, IOTA focuses on facilitating the “Internet of Things”. Therefore, our IOTA price prediction estimates a possible low of $0.12, a high of $0.22 and an average price of $0.17 by the end of 2023.Ĭryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. ![]() In a recent announcement, IOTA Co-Founder Dominik Schiener hinted at a potential Cardano partnership.Ĭardano’s market cap is $10.4 billion, so increasing interoperability between the two networks could lead to lots of new liquidity entering the IOTA ecosystem.Ĭonsidering these fundamental and technical factors, IOTA will likely find its bottom in the coming weeks before commencing an upwards trajectory ahead of the Bitcoin halving. There have been several other bullish announcements for the project in the past months too. Shimmer is a staging and validation layer one network developers use to test, experiment and innovate before deploying their decentralised applications (dApps) to the IOTA mainnet. Swiss asset manager SwissOne Capital AG launched a fund focused on IOTA’s “Shimmer” and the IOTA ecosystem in the past month. With this in mind, the IOTA bottom may occur around October 2023, roughly six months before the next Bitcoin halving.ĭespite the recent bearish price action, IOTA’s fundamentals have remained solid. If it were not for that, the bottom would have likely been in around December 2019, six months before the halving. However, this was due to a cascading effect caused by the COVID-19 pandemic. That said, the 2020 IOTA bottom occurred on 9 March 2020, just two months before the Bitcoin halving. With the IOTA price making lower lows and lower highs throughout 2023, it is difficult to predict exactly where the bottom will be.
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