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- IOTA co-founder clarifies that the project is for the long term, but not a short-term pump.
- An analyst lists factors that can drive the price to $10.
IOTA (MIOTA) is one of the most real-world problem-solving crypto projects in the industry and is highly expected to dominate the market in different categories. Interestingly, the asset is said to be very undervalued as its price does not correlate with the several technical upgrades. As of press time, IOTA was trading at $0.200975 and is 96 percent down from its all-time high of $5. Regardless, some analysts still think it can go as high as $10.
In response to investors hoping that IOTA could stage some short-term bull run, IOTA co-founder Dominik Schiener has clarified that the goal is for the long term. In the future, Schiener thinks the project would hit “trillion or nothing.”
According to a Twitter user identified as Moon Baklava, the IOTA project is not dead as many believe.
IOTA means business #IOTA, focused more on the enterprise adoption, missed two bull runs while the crypto world raced ahead with #DeFi … But YOU have to understand one THING! IOTA OPERATES AT THE HIGHEST LEVEL POSSIBLE. Who’s got the power? Exactly, GOVERMENTS!
The IOTA Future Price
IOTA has struggled to bounce back to its all-time high price after missing out on a couple of bull runs. The asset was once in the top 10 biggest crypto projects based on market cap but has dropped to the 73rd. While this is very disappointing to investors who especially accumulated the asset at the peak, the story could change as the team has been actively involved in some technical developments lately. As of now, the central coordinator in the Tangle structure with Coordicide (IOTA 2.0) problem has been solved to push the network to full decentralization.
IOTA’s Shimmer network is one of the steps to revive confidence in the project, and it is reportedly doing well. According to reports, 5000 smart contracts have been created, and 6.4 million transactions have been completed in the EVM test network. However, this alone cannot drive the price to $10. An analyst has listed about five factors that could be a catalyst for this unprecedented price movement.
Firstly, adoption and partnerships must increase to send the price skyrocketing. Also, the IOTA’s technology such as security, scalability, and usability must be enhanced with a focus on the Internet of Things (IoT) and decentralized applications (dApps) to get the attention of investors. Over the years, there has been an increased demand for IoT services in the areas of
What could drive the price to $10?
supply chain management, smart cities, etc. Another factor is the market sentiment and the overall crypto market bull run. It is said that “a rising tide affects all boats.” A general bull run in the crypto market triggered by positive market sentiments could send the price to $10. Finally, regulatory clarity and market stability could play a huge role.
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This year, IOTA is expected to go as high as $0.361703 when “all other things remain equal.” On Average, the price could trade around $0.301419, and at its worst, IOTA could be traded at $0.241135.
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