IOTA Price Tops $0.34 on Major Exchanges (MIOTA)

IOTA (MIOTA) traded 3.6% higher against the U.S. dollar during the one day period ending at 16:00 PM Eastern on May 14th. During the last seven days, IOTA has traded down 30.9% against the U.S. dollar. One IOTA coin can currently be bought for approximately $0.34 or 0.00001163 BTC on exchanges. IOTA has a total market capitalization of $948.65 million and $34.53 million worth of IOTA was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

  • Poseidon Network (QQQ) traded up 9% against the dollar and now trades at $0.0091 or 0.00000031 BTC.
  • Obyte (GBYTE) traded down 4% against the dollar and now trades at $12.69 or 0.00043252 BTC.
  • VITE (VITE) traded 5.5% lower against the dollar and now trades at $0.0198 or 0.00000067 BTC.
  • IoT Chain (ITC) traded down 17.6% against the dollar and now trades at $0.0074 or 0.00000025 BTC.
  • HYCON (HYC) traded down 25.3% against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • TrustNote (TTT) traded flat against the dollar and now trades at $0.0000 or 0.00000000 BTC.

About IOTA

IOTA is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. It launched on July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. IOTA’s official Twitter account is @iotatoken and its Facebook page is accessible here. The official message board for IOTA is forum.iota.org. The official website for IOTA is www.iota.org. The Reddit community for IOTA is /r/Iota and the currency’s Github account can be viewed here.

According to CryptoCompare, “IOTA is an open-source distributed ledger protocol that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions & no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. IOTA is initially focused on serving as the backbone of the emerging Internet-of-Things (IoT). For a more in depth look at the technical design of IOTA read their https://iota.org/IOTA_Whitepaper.pdf.  The total supply of IOTA is (3^33 – 1) / 2 = 2,779,530,283,277,761 tokens. This value is optimized for ternary computation – it is the largest possible 33-digit ternary number: 111,111,111,111,111,111,111,111,111,111,111 (base-3) = 2,779,530,283,277,761 (base-10) The total IOTA token supply was “minted” on the genesis transaction and will never change. It is now impossible for anyone to “mint” or “mine” new IOTA tokens. IOTA uses the International System of Units (or SI units): “

IOTA Coin Trading

It is usually not possible to buy alternative cryptocurrencies such as IOTA directly using US dollars. Investors seeking to trade IOTA should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy IOTA using one of the exchanges listed above.

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