IOTA (MIOTA), the cryptocurrency for machine-to-machine (m2m) transactions, is in a rut. Today it is only trading 2.3% higher than it was yesterday. Compared to a week ago, this crypto-coin has only gained 9.2%. Compared to other top altcoins on the market, its performance this week is dismal. Both Ripple (XRP) and TRON (TRX), two of IOTA’s rival altcoins, have gained closer to 100% in the same period.
It seems as though this crypto-coin can’t break the $4.40 mark – even though it briefly breeched $5.00 a few times this month. But those rallies were very brief, indeed.
At least the past month has added about 113% to IOTA’s price – that’s not half bad. But what owners of this Internet of Things (IoT)-based cryptocurrency things want to know is whether it will skyrocket again. It was, after all, trading in the 30-40 cent range less than two months ago.
Will IOTA (MIOTA) Surge and Deliver Major Profits Again?
With about $11.1 billion in market value, this coin is still the seventh most valuable cryptocurrency worldwide.
According to CoinCheckup.com, this digital currency has Total Coin Analysis Score of 88.15%. Not too shabby at all, at least from our point of view. Its Product Strength Score is sitting at 80%. Its Coin Strength score is a healthy 95%, and its Brand Awareness Score is a solid 90%.
This coin might not help you rake in a profit higher than 1,000% like most cryptocurrency investors are hoping for. But IOTA’s strong performance over the long term is an indicator that it is a secure and promising investment.
Let’s see if it can maintain its number seven spot.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.