Key Takeaways
The IOTA platform launched its new Testnet, IOTA 2.0, in May 2024. The new platform uses a proof-of-stake consensus mechanism.
Meanwhile, in December 2024, IOTA started voting on the Rebased update , which, if approved, would make the platform fully decentralized and cheaper and give holders the chance to receive IOTA coins as staking rewards.
This, along with a partnership with South Korean animation and gaming platform Gen Sol, saw IOTA reach its highest levels in over two years.
On Dec. 3, 2024, IOTA was worth about $0.49.
But what is IOTA? How does IOTA work? Let’s find out and also examine some of the IOTA price predictions made as of Dec. 3, 2024.
Let’s look at the IOTA price predictions made by CCN on Dec. 3. We will use the wave count method to make the predictions. We will add and remove 20% to them to create the minimum and maximum targets.
Minimum IOTA Price Prediction | Average IOTA Price Prediction | Maximum IOTA Price Prediction | |
---|---|---|---|
2025 | $0.30 | $0.37 | $0.44 |
2026 | $0.38 | $0.48 | $0.58 |
2030 | $0.32 | $0.40 | $0.48 |
The most likely wave count suggests that IOTA completed a five-wave decline and then started an A-B-C structure (white) in November 2024.
It created a similar pattern between 2018 and 2021. At the time, the A-B-C structure had 0.5 times the length and duration of the correction.
If the same thing happens this time, the IOTA price will reach a high of $1.36 in July 2026 before beginning another downward movement.
Then, we can use the rate of decrease since the launch to make an IOTA price prediction for the end of 2030.
Since June 2017, IOTA has fallen by 25%. Projecting this decline until the end of 2030 leads to a price of $0.40.
The wave count gives an IOTA price prediction range between $0.30 and $0.44 for the end of 2025.
The wave count gives an IOTA price prediction range between $0.38 and $0.58 for the end of 2026.
Using the daily rate of decrease since launch, we can predict the IOTA price range between $0.32 and $0.48.
The weekly time frame chart shows that IOTA is in the process of creating its fifth successive bullish weekly candlestick. During this time, the price has increased by 371%. Last week, IOTA broke out from a descending resistance trend line that existed for 1,323 days. Breakouts from such long-term structures often mean the correction is over and a bullish trend reversal has started.
To further reiterate this possibility, IOTA increased and closed above the $0.35 horizontal resistance area. If the increase continues, the next resistance will be at $1.50, a level not reached since the start of 2022.
Technical indicators support this increase, suggesting the upward movement will continue. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) both generated bullish divergences (green) before the breakout and are now in bullish territory. The RSI just increased above 70.
In 2021, the RSI increase above 70 started the most parabolic part of the upward movement, leading to the $2.67 high.
So, the weekly time frame gives a bullish IOTA prediction, suggesting the price will increase to the next resistance at $1.50.
The IOTA price prediction for the next 24 hours is bullish. The price will likely continue its ascent toward the $1.50 horizontal resistance area.
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Dec 3, 2024, IOTA’s ATR was 0.0393, suggesting relatively high volatility.
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.
Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Dec 3, 2024, the IOTA RSI was 92, suggesting it was much overbought.
The CCN Strength Index combines an array of advanced market signals to measure the strength of individual cryptocurrencies over the last 30 days.
Every day, it assigns a strength score, ranging from 0 to 100, to the top 500 assets by market capitalization on CoinMarketCap, focusing on both trend direction and the intensity of price movements.
The index dynamically adapts to rapid changes. For example, an asset experiencing a 100% increase within a short timeframe would see a sharp jump in its score to reflect the intensity of the rise.
However, should that asset stabilize at this new price level, the score will gradually taper down and align with the dampened momentum as the movement normalizes. The same principle applies to rapid declines: a sudden drop will spike the score downward, but the score will slowly adjust back up as volatility decreases.
On Dec 3, 2024, IOTA scored 88 on the CCN Index, suggesting momentum strong enough to suggest a trend reversal was on the way.
IOTA is a crypto operating in the Internet of Things category, so let’s see how it’s done over the last year compared to some of its biggest competitors.
We took a look at the IOTA price history and found the best times to buy IOTA.
Day of the Week | Monday |
Week | 7 |
Month | November |
Quarter | Fourth |
Now, let’s look at some of the key dates in the IOTA price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret an IOTA price prediction.
Period | IOTA Price |
---|---|
Last week (Nov. 26, 2024) | $0.233 |
Last month (Nov. 3, 2024) | $0.1092 |
Three months ago (Sept. 3, 2024) | $0.1298 |
Last year (Dec. 3, 2023) | $0.3686 |
Five years ago (Dec. 3, 2019) | $0.2089 |
Launch price (June 14, 2017) | $0.5923 |
All-time high (Dec. 19, 2017) | $5.69 |
All-time low (March 13, 2020) | $0.07962 |
The market capitalization, or market cap, is the sum of the total number of BTC in circulation multiplied by its price.
On Dec. 3, 2024, IOTA’s market cap was $1.72 billion, making it the 74th-largest crypto by that metric.
One wallet held over 15% of the IOTA supply as of Dec. 3, 2024.
On Dec. 3, 2024, the five wallets with the most IOTA were
Supply and distribution | Figures |
---|---|
Maximum supply | 4,600,000,000 |
Circulating supply (as of Dec. 3 2024) | 3,535,708,817 (76.86% of total supply) |
Holder distribution | Top 10 holders own 78.8% of supply as of Dec. 3 2024 |
In its technical documentation or whitepaper , IOTA says that it is designed to stop what it describes as the “illogical” situation when a transaction fee is more than the actual transaction.
It says: “It is not easy to get rid of fees in the blockchain infrastructure since they serve as the incentive for creators of blocks.”
The platform claims that its structure, called The Tangle, simplifies things and makes things easier, cheaper, and more user-friendly.
Computer developers David Sønstebø , Dominik Schiener , Sergey Ivancheglo , and Serguei Popov founded the IOTA platform in 2014. Ivancheglo quit his role at the organization in 2019, claiming he was better suited to a “less rigid” work environment.
It went live in 2015, and its eponymous coin hit the open market in 2017.
The system was designed to work with the Internet of Things. This term covers devices such as smart fridges, heating systems, or voice-controlled digital assistants, like Amazon’s Alexa or Google Home, that are on the internet but are not computers of any kind. IOTA aims to be the platform that carries out transactions between Internet of Things devices.
At the time of IOTA’s launch, Sønstebø said : “IOTA should not be considered an alternative coin (altcoin) to existing cryptocurrencies such as Bitcoin, rather it is an extension of the growing Blockchain ecosystem. It’s meant to work in synergy with these other platforms to form cohesion and symbiotic relationships. IOTA is designed to provide one solution that no other crypto does: efficient, secure, lightweight, real-time micro-transactions without fees.”
What makes IOTA different is that it is not based on a blockchain. Instead, it is a distributed ledger that is similar to, but not the same as, a blockchain.
Blockchains are made up of data blocks, but distributed ledgers do not have to use blocks. They just have data spread across a group of computer users or nodes. Another difference is that all the data in a blockchain has to be in a particular order, while a non-blockchain distributed ledger does not need to have data in sequence.
IOTA’s ledger is called The Tangle. If you were to draw a diagram of it, it would, appropriately, look like a tangle of lines. While blockchains are a kind of distributed ledger, not all distributed ledgers are blockchains.
The IOTA coin powers the ledger and allows IoT devices to, in effect, make transactions. Two previous transactions from another computer, or node, on the network are used to process a transaction, while a comparatively simple mathematical puzzle is used to help validate it. This means, in theory, there are no transaction fees on the system, and very small microtransactions can occur.
It is difficult to tell. A lot will depend on what impact, if any, IOTA 2.0 will have.
You should also note that IOTA is one of many cryptos whose all-time high came nearly six years ago, during the late 2017 and early 2018 bubble.
Not only that but, at the time of writing (Dec. 3 2024), IOTA’s RSI measured it as being overbought, suggesting a trend shift might be imminent.
On the other hand, IOTA does seem to perform a pretty useful function and, perhaps more importantly, does something other crypto platforms don’t do. It is one of the largest, if not the largest, crypto operating in the Internet of Things space, which gives it a prominence investors may welcome.
As always with crypto, you should do your research before deciding whether or not to invest in IOTA.
No one can tell right now. While the IOTA crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up.
Before you decide whether or not to invest in IOTA, you will have to do your research, not only on IOTA but on other coins and tokens such as Ethereum (ETH) or Solana (SOL). Either way, you will also need to ensure you never invest more money than you can afford to lose.
Technical analysis by Valdrin Tahiri.
It looks unlike that will happen until at least the 2030s. Keep in mind, too, that IOTA has not traded at more than a dollar since January 2022.
IOTA pays for transactions on the IOTA blockchain. People can also buy, sell, and trade it on exchanges.