When it comes to the top 15 most valuable cryptocurrencies, the IOTA coin seems to be a fixed member – this digital currency hasn’t been shaken from its ranks, despite the fact that it doesn’t have a real product or solution available on the market. Yes, like many cryptocurrency options out there, the multi-billion-dollar valuation of IOTA (MIOTA) has been driven by almost 100% investor faith in an eventual product release.
People are investing into this coin’s business plan, and banking on its success as the “cryptocurrency of the internet of things (IoT)” – there is a lot of confidence in this not-quite-fully-formed technology out there. If there wasn’t, its market cap wouldn’t have soared to $4.1 billion.
But, as any MIOTA coin #hodler would tell you, there actually is promising technology behind this wildly popular digital coin. There are solid reasons to believe this project will be a success.
Let’s go over some of the most recent ones.
IOTA (MIOTA) is getting global media attention, in a good way
Unlike the heavily unflattering scandals and mishaps that have plagued a lot of top crypto coins out there (we’re thinking about TRON and Waltonchain, obviously) – IOTA has been getting some positive spotlight.
More importantly, it is getting big-time mainstream media attention in the form of a Bloomberg spotlight article on its founder. It’s a pretty good read, during which you find out that the 22-year old is keeping all his MIOTA coins to maintain confidence in the project. On top of that, the 50-ish people who work for the foundation – which is located in Berlin, Germany – get paid in IOTA instead of Euros.
Apart from the Bloomberg boost, it has appeared in top financial publications like Forbes – and a number of others.
But, more importantly than this cryptocurrency’s brand image is its technology development, and the partners it is making on the way.
The corporate world is taking IOTA very seriously
It is sort of a joke within the cryptocurrency space whenever a coin’s team announces a new partnership – often with accusations of trying to pump up its price, especially if the new collaboration agreement isn’t that big of a deal.
With this coin, however, its corporate partnerships are very big deals – and they come from VERY big companies that see promise in this technology. Most notably, so far, has probably been its relationship with Volkswagen.
Volkswagen’s Chief Digital Officer, for instance, sits on the IOTA Foundation’s Supervisory Board. The two organizations also announced a cooperation deal to potentially work with MIOTA coin technology (which is called “Tangle” – and it’s not blockchain) on autonomous driving projects.
When Bosch invested a bunch of cash into this coin, it was also a huge deal – getting attention from the likes of Business Insider.
But Bosch and VW are just the beginning, this Reddit user (thanks, u/Haaaakon!) actually just compiled an updated list of IOTA Data Marketplace Participants – which include, on top of the two companies we just listed, Accenture, Microsoft and Fujitsu.
This coin is cheap, and we are still in the early stages
Top global companies from multiple sectors are taking the Tangle technology very seriously – they are already signing up for the marketplace. Can you guys imagine what it would be like when the marketplace goes live. The potential is huge.
IOTA (MIOTA) is really cheap right now, too. After the GREAT CRYPTO CRASH of January-February 2018, this coin is a huge discount from its record high. It’s at less than half of its December value right now.
As this company keeps blossoming and the technology actually hits the road, this coin’s price will certainly shoot higher – especially since its technology is so unique compared to your run-of-the-mill blockchain-based platforms.
I don’t want to be the guy who says “buy on the dip,” but I guess that’s what I’m saying is a good opportunity right now. Thanks to the crash, a lot of us got another chance to ride the next big surge.
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.