IOTA (MIOTA) Hits Market Capitalization of $5.25 Billion


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IOTA (CURRENCY:MIOTA) traded 14.7% higher against the U.S. dollar during the one day period ending at 10:00 AM Eastern on April 8th. One IOTA coin can now be bought for $1.89 or 0.00003266 BTC on popular cryptocurrency exchanges. During the last week, IOTA has traded up 15.5% against the U.S. dollar. IOTA has a total market capitalization of $5.25 billion and $233.79 million worth of IOTA was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed during the last 24 hours:

  • VITE (VITE) traded 2.8% lower against the dollar and now trades at $0.26 or 0.00000455 BTC.
  • Poseidon Network (QQQ) traded 5% higher against the dollar and now trades at $0.0308 or 0.00000053 BTC.
  • Obyte (GBYTE) traded 0.8% higher against the dollar and now trades at $37.98 or 0.00065717 BTC.
  • IoT Chain (ITC) traded up 0.7% against the dollar and now trades at $0.17 or 0.00000291 BTC.
  • HYCON (HYC) traded up 5.6% against the dollar and now trades at $0.0011 or 0.00000002 BTC.
  • TrustNote (TTT) traded down 0% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

IOTA Coin Profile

IOTA (MIOTA) is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. Its launch date was July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. IOTA’s official message board is forum.iota.org. The official website for IOTA is www.iota.org. IOTA’s official Twitter account is @iotatoken and its Facebook page is accessible here. The Reddit community for IOTA is /r/Iota and the currency’s Github account can be viewed here.

According to CryptoCompare, “IOTA is an open-source distributed ledger protocol that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions & no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. IOTA is initially focused on serving as the backbone of the emerging Internet-of-Things (IoT). For a more in depth look at the technical design of IOTA read their https://iota.org/IOTA_Whitepaper.pdf.  The total supply of IOTA is (3^33 – 1) / 2 = 2,779,530,283,277,761 tokens. This value is optimized for ternary computation – it is the largest possible 33-digit ternary number: 111,111,111,111,111,111,111,111,111,111,111 (base-3) = 2,779,530,283,277,761 (base-10) The total IOTA token supply was “minted” on the genesis transaction and will never change. It is now impossible for anyone to “mint” or “mine” new IOTA tokens. IOTA uses the International System of Units (or SI units): “

Buying and Selling IOTA

It is usually not currently possible to buy alternative cryptocurrencies such as IOTA directly using US dollars. Investors seeking to acquire IOTA should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy IOTA using one of the aforementioned exchanges.

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