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IOTA Price Prediction – Will MIOTA Price Hit $5 in 2021?

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  • Bullish MIOTA price prediction ranges from $1.79 to $2.30.
  • MIOTA price might also reach $5 soon.
  • MIOTA bearish market price prediction for 2021 is $0.93.

This IOTA (MIOTA) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our MIOTA price analysis and prediction.

IOTA (MIOTA) is a smart contract platform that has fundamentally redesigned distributed ledger technology. As a result, the network was able to provide a secure exchange of data and value without any fees. Also, the IOTA technology is built to be compatible with the Internet of Things (IoT) with low resource requirements and tamper-proof-data security.

Regarding its technology, IOTA becomes a distributed ledger developed to handle different transactions between connected devices in the IoT ecosystem. In addition, IOTA aims to solve the challenges faced by Bitcoin such as performance and scalability using the Tangle technology. This technology of Tangle acts as a system of nodes wherein each new transaction confirms two previous transactions.

In this MIOTA price analysis and price prediction we take a look at the performance of MIOTA if it will reach $5. But before that, let us learn more about IOTA (MIOTA) and its current position in the crypto market.

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What is IOTA (MIOTA)?

MIOTA is a cryptocurrency network based on blockchain technology. It was founded in 2015 by Sergey Ivancheglo, David Sontesbo, Serguei Popov, and Dominik Schiener.

Furthermore, the IOTA network seeks to play a central role in the coming industrial revolution. Specifically, IOTA plans to enable economic relationships between machines while connecting the human and machine economies.

In terms of its cryptocurrency, the network has its own native cryptocurrency: MIOTA. This cryptocurrency is used to pay all the transaction fees within the network. In addition, MIOTA is also utilized as a reward for all its community participants.

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MIOTA Current Market Status

As of the time of writing this IOTA price analysis, MIOTA trades at $1.43 with a 24-hour trading volume of $91,122,056. The price of MIOTA has decreased by 1.61% in the last 24 hours.

Furthermore, MIOTA has a current circulating supply of 1.49B MIOTA. For traders and investors interested in MIOTA, crypto trades at exchanges such as  Binance, OKEx, FTX, Huobi Global, and HitBTC. Of course, these are just some of the many exchanges that the crypto is listed at.

Now, let’s proceed to the next part of this MIOTA technical analysis for 2021.

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IOTA (MIOTA) Price Analysis 2021

Currently, IOTA holds the 46th place on CoinGecko. But will the latest upgrades, developments, and changes in the MIOTA blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this MIOTA price prediction article.

MIOTA USDT chart showing Ascending Channel pattern
MIOTA/USDT chart showing Ascending Channel pattern (Source: TradingView)

Based on the chart above, MIOTA positions itself along with the raging bulls. Today, MIOTA trades at a high price of $1.43.

In addition, we can see that MIOTA recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

In other words, MIOTA is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with MIOTA.

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Conversely, if the bulls turn against the crypto, the price of MIOTA might fall. In short, MIOTA might break out from its uptrend position and nosedive to a bearish price. Indeed, this price level is not a good picture in the eyes of the investors.

MIOTA Relative Strength Index
MIOTA Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is close to 56.48, which means that MIOTA is in a nearly overbought state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of MIOTA.

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MIOTA 30-day SMA and 50-day EMA
MIOTA 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, MIOTA ’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, MIOTA has a competitive market this 2021.

IOTA (MIOTA) Price Prediction 2021

The chart below shows that IOTA has performed great over the past few days. Moreover, the MIOTA price over 20% in the last 7 days. If this trend continues, MIOTA might run along with the bulls, overtaking its $2.3 resistance level and reach higher.

MIOTA USDT Price Chart
MIOTA/USDT Price Chart (Source: TradingView)

Conversely, if the investors turn against the crypto, the bears might take over and dethrone MIOTA from its uptrend position. In simpler terms, the price of MIOTA might drop to almost $0.93, a bearish signal.

Meanwhile, our long-term MIOTA price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $5.69. However, that will only happen if it breaks many previous psychological resistances.

IOTA (MIOTA) Price Prediction 2022

If this bullish trend continues, MIOTA will reach $6.5 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $7. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $6.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

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IOTA (MIOTA) Price Prediction 2023

If IOTA holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $8, making it not plummet but play consistently.

IOTA (MIOTA) Price Prediction 2024

As per the latest upgrades, developments, IOTA price prediction, and new project forecasts of the platform, IOTA investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of IOTA in the crypto market, and it will be the best investment as the price can spike and reach around $10.

IOTA (MIOTA) Price Prediction 2025

In the next four years, MIOTA prices could race up to $25. However, reaching this level could not be so difficult for MIOTA as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that MIOTA has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

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Conclusion

IOTA has a bright future ahead of it in 2021. With the ongoing developments happening within the MIOTA ecosystem, as well as in the overall crypto market, we may see MIOTA reach new heights.

Bullish MIOTA price prediction 2021 is $2.3. However, it may even reach $5 if investors have decided that MIOTA is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is MIOTA?

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IOTA (MIOTA) is a cryptocurrency platform that is developer friendly with massive scalability technology. Consequently, developers can easily access the digital economy anytime at an improved blockchain speed.How do I get IOTA Crypto?

The IOTA cryptocurrency can be bought, sold and traded on exchanges such as Binance, Crypto.com, and VCC exchanges to name a few.Is IOTA a good investment?

IOTA (MIOTA) is one of the promising altcoins this year. If the bullish market continues to favor the crypto, the crypto might have a good future this year.Can IOTA reach $5?

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Yes, it’s very much possible that IOTA might reach $5 in the near future as per the current bullish trend.What will be the IOTA price by 2022?

IOTA (MIOTA) price is expected to reach $6.5 by 2022.What will be the IOTA price by 2023?

IOTA (MIOTA) price is expected to reach $8 by 2023.What will be the IOTA price by 2024?

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IOTA (MIOTA) price is expected to reach $10 by 2024.What will be the IOTA price by 2025?

IOTA (MIOTA) price is expected to reach $25 by 2025.

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IOTA Feeless Protocol to Mint Native Assets and Smart Assets

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Getting into a match with an NFT that is minted as a unique, verifiable, and secure game ticket . The possibilities of tokenization with native assets is endless.

Whether from rare collectibles to electric cars, football clubs to smart cities, native assets have the power to transform industries and economies.  Also, the capability to transform the concept and exchange of value itself.

When IOTA’s Digital Asset framework is released, digital assets will be even more ubiquitous due to the network’s zero-fee based architecture.

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The most eagerly awaited feature from IOTA is the “Digital Asset Framework.” In IOTA, Layer 1 assets are known as native assets, as they are native to the IOTA mainnet.  Layer 2 assets are known as smart assets, as these exist on the smart contract layer, and have greater programmability.

Minting is the process which facilitates creation of native assets or smart assets. Native asset, native token, smart asset, smart token are all terms interchangeably used to denote token, but for improved clarity, a piece of art work is known as an asset; and coins are referred to as the tokens.

A native asset also known as the “colored coin” is a customized IOTA token works like a digitized token which represents a tamper-proof and finite asset in the real world.

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The term colored coin grew from the idea of issuing real-world assets like real estate on the blockchain. Native tokens can represent any kind of asset or contract.  They are minted by tagging IOTA tokens.  Since they tag IOTA tokens they do not bring down the overall supply of IOTA tokens.

There are no third parties required either for its creation or for storing them digitally. With the IOTA Feeless Protocol, creating native assets is very inexpensive. It is possible to distribute the assets for free on the ledger.

To mint a native asset, users can take a normal IOTA token and assign a unique identity to it when executing a transaction.

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The act of minting native assets happens at the base level of the IOTA ledger where it is secure, traceable, and immutable. IOTA tokens are assigned a particular meaning, by adding a “tag”, basically giving them a name.

At present, one IOTA Token equals one native asset, and the process for transferring the native assets is exactly the same as transferring an IOTA token.

IOTA recently published a blog post on the business ecosystem of IOTA. The blog helps understand the components and frameworks of IOTA.

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Understand the IOTA Business Ecosystem With Their Infographic to Understand their Dependencies and Use cases

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It is important to understand the business ecosystem of IOTA in terms of the different components and frameworks that constitute it. This will provide an insight into the several use cases in data and the value transactions that they enable.

The IOTA Foundation builds open-source software to enable a new type of digital infrastructure that empowers people to live freely and securely in a digital world. To do this, the Foundation engages with many different initiatives, markets, and partners in academia, government, and businesses.

IOTA has issued an infographic of their business ecosystem, which will make it easy to know the dependencies of what they are doing.

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It helps to get the complete picture of the different components from the bottom up beginning from the node software like Hornet, Bee, Wasp, Chronicle; The Tangle; IOTAs Parallel Architecture – Frameworks covering for digital identity, tokenized assets, streams, smart contracts, access, and IOTA stronghold; and of course, the firefly wallet.   There are non-technical parts that the users should understand, which will eventually lead to a complete understanding of the machine economy and the connections of billions of persons, organizations, and devices.

IOTA Identity builds on the W3C’s proposed standards for a digital identity framework. This framework includes three roles of holders, issuers, verifiers.

Holders are the owners of digital identities. They have ultimate control over their data and choose how much and with whom they share their data.

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Issuers are trusted third parties or authorities that generate and issue credentials to holders, such as health records or identity documents.

Verifiers are any third parties that need to verify the authenticity of a holder’s data. A verifier might, for example, need to validate that the holder is who they say they are.

Decentralized Identifiers serve as a reference to a DID Document. This document contains data such as public keys, enabling the holder to prove ownership over their data.  Verifiable Credentials are statements about the holder. They can be verified online or in person, and the holder decides who to share them with.  This framework has various use cases, including: Address Validation, Age Verification, and Authority login.

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IOTA has a vision for the digital identity for Things, Organizations, and Individuals. Digital Identity of Solutions covers for Identity of things, self-sovereign identity, and regulatory compliance.

Devices have an identity that proves their capabilities, specifications, and authenticity to allow others to feel confident in transacting with them.

Individuals have a borderless digital identity that can be verified by anyone or anything in the world.

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Organizations can use digital identities to follow regulations such as GDPR in a more cost-efficient way.

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TradeMark East Africa to apply IOTA’s blockchain technology to enhance UK-Kenya trade corridor

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  • TMEA to introduce blockchain technology to the UK-Kenya trade corridor for the enhanced supply chain management.
  • TMEA partnered with IOTA to improve infrastructure and trade through technology.

Trademark East Africa (TMEA) has agreed to introduce IOTA’s Tangle blockchain technology to the UK-Kenya Trade Logistics and Information Pipeline (TLIP) digital trade route to increase the visibility of the supply chain between Kenya and the UK.

By linking supply chains, the agreement will enable fast logistics clearance and easier trading. Additionally, the elimination of paperwork will lead to increased bilateral trade between the two trade partners for the benefit of the East African Community (EAC).

According to Adan Mohamed, Cabinet Secretary for Trade in Kenya, the partnership will help the region grow its trade balances.

What is even more significant is the role it is going to play to support small and medium-sized enterprises.

Frank Matsaert, CEO at TMEA, said that the digital TLIP trade corridor would increase transparency, efficiency, and cost-effectiveness in the management support of trade information. These improvements will benefit both the EAC and the African Continental Free Trade Area (AFCFTA).

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IOTA Tangle’s benefit for TLIP

TLIP is the first digital trade corridor between the UK and a developing country since Brexit, established to cater to and foster growth between the two trade partners.

The introduction of IOTA’s Tangle is further expected to accelerate growth in four key area targets of TLIP, including a 30 percent reduction in import-export time and administrative procedures, a 40 percent reduction in turnaround time, and a 20 percent reduction in compliance costs. It will also help to cut out data redundancy by over 50 percent.

IOTA and TMEA entered into a strategic partnership in March 2020 to improve infrastructure and trade through technology using Tangle. Tangle is IOTA’s innovative and open-source distributed ledger that is scalable, feeless, and designed to support frictionless data and value transfer.

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Not only are the building costs low due to the open-source, feeless nature of IOTA technology, but it is also an uncomplicated additional to the existing infrastructure.

IOTA and Tangle

IOTA is the cryptocurrency that works on top of Tangle. Tangle has some unique characteristics over other more common blockchains like Bitcoin or Ethereum. For instance, it requires users to confirm the previous two transactions in the system before processing their own. This design encourages user uptake and makes the system process transactions faster when more people are using it.

Additionally, Tangle does not require data storage in sequentially chained blocks like on most blockchains. Instead, users can store transactions in multiple devices, different orders, locations, or as mixed and split transactions. The system iterates through all transactions once the users sync their devices and groups them into their addresses, regardless of order.

Once it has processed all transactions, it displays balances, and users can verify that the balances are correct. This feature allows users to conveniently link multiple devices to the Tangle. The other unique feature is support for multi-transactions- many chained transactions that use the address. Analysts have referred to IOTA’s technology as superior to most blockchains and the project worthy of more credit for its scalability.

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Trademark East Africa is a well-respected organization funded by various development agencies to grow prosperity in East Africa through trade. TMEA spends over $100 million annually in aid-for-trade efforts in partnership with the regions’ community institutions, national governments, the private sector, and civil society organizations. It is also known globally for its commitment and success in improving livelihoods through improved trade conditions.

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