IOTA Reaches Market Capitalization of $699.14 Million (MIOTA)

IOTA (MIOTA) traded up 3.7% against the U.S. dollar during the 24-hour period ending at 8:00 AM ET on May 2nd. One IOTA coin can currently be bought for approximately $0.22 or 0.00000366 BTC on major exchanges. IOTA has a total market capitalization of $699.14 million and approximately $16.40 million worth of IOTA was traded on exchanges in the last day. In the last week, IOTA has traded down 8.1% against the U.S. dollar.

Here’s how similar cryptocurrencies have performed in the last day:

• Creditcoin (CTC) traded up 1.1% against the dollar and now trades at $0.62 or 0.00001058 BTC.
• Pax Dollar (USDP) traded 0.3% higher against the dollar and now trades at $1.00 or 0.00001704 BTC.
• Electroneum (ETN) traded 6.5% lower against the dollar and now trades at $0.0032 or 0.00000005 BTC.
• Verasity (VRA) traded 3% higher against the dollar and now trades at $0.0054 or 0.00000009 BTC.
• Meter Governance (MTRG) traded up 1.5% against the dollar and now trades at $1.37 or 0.00002326 BTC.
• The Transfer Token (TTT) traded 75.4% higher against the dollar and now trades at $0.0140 or 0.00000024 BTC.
• SOLVE (SOLVE) traded down 0.3% against the dollar and now trades at $0.0183 or 0.00000031 BTC.

About IOTA

IOTA (MIOTA) uses the hashing algorithm. Its genesis date was November 25th, 2015. IOTA’s total supply is 3,248,643,038 coins. IOTA’s official website is www.iota.org. IOTA’s official Twitter account is @iota and its Facebook page is accessible here. IOTA’s official message board is forum.iota.org. The Reddit community for IOTA is https://reddit.com/r/iota and the currency’s Github account can be viewed here.

According to CryptoCompare, “IOTA is a distributed ledger technology that uses a structure called the Tangle to maintain a tally of token ownership between multiple nodes. This structure allows for newer transactions to verify older ones, bypassing the bottleneck caused by blockchains. The IOTA protocol is in research and has two public networks: the IOTA mainnet, which manages tokens, and Shimmer, which tests protocol updates. The IOTA was founded in 2015 by four co-founders, including David Sønstebø and Dominik Schiener, who currently serve as co-chairmen of the board of directors. One of the co-founders, Sergey Ivancheglo, resigned in 2019 but continues to provide advice as an unofficial advisor.”

IOTA Coin Trading

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

MIOTA/USD price chart by TradingView