Bitcoin has been predicted to rise to $1million within three years. It has become the most sought after and talked about cryptocurrency across the whole word; however, could a little known cryptocurrency be about to take over Bitcoins title?
IOTA has risen by 1,000 percent in just one month, making it the fourth biggest cryptocurrency in terms of market capitalisation. The only virtual currencies ahead of it are Bitcoin, Ethereum and Bitcoin Cash.
The price of IOTA has continued to rise solidly over the past couple of months, seeing it surge to $4.14 on December 7th
from just $0.38 on November 7th
. In December alone, so far the currency has increased by over 180 percent.
One of the reasons for this sudden surge, could be down to the announcement of partnership with major companies like Microsoft. Omkar Naik, from Microsoft, issued a statement, saying;
“We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real world solutions, applications and pilots for our customers.”
In terms of market capitalisation, IOTA is up there with the big ones. Bitcoin has the highest, followed by Ethereum, then Bitcoin Cash, and finally IOTA.
IOTA is a typical cryptocurrency, in as much as it is a digital currency that has been created and stored electronically. The supply is not determined by a central bank or authority, and the network is completely decentralised. IOTA was founded in 2015, and has steadily grown since then.
This might be the new cryptocurrency to keep your eye and money on.
Original Image Source: https://commons.wikimedia.org/wiki/File:Iota_logo.png