2020 started with a bang for IOTA, according to an infographic by Kryptoszene.de: The biggest ranking on Google in a year, a price increase of over 100% within a few days and a publication with an IOTA forecast, which considers a price of $100 realistic. Plus: a comeback to the top 20 largest cryptocurrencies by market cap.
On January 1, the IOTA was still trading at $0.16. Just over a month later, on February 3, the cryptocurrency broke the $0.35 mark – an increase in over 119%. An interesting fact: the digital currency developed far better than all the altcoins and Bitcoin.
The price for BTC also significantly grew in value – overall by around 30%. To a much lesser extent, however. IOTA not only swims in the waters of the unofficial leader currency, but also reaches a clear outperformance.
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IOTA’s current market capitalization is approximately $974 million.
According to an analysis by Fundstrat, this small capitalization could soon be a relic from the past. In conclusion, should IOTA become the standard in the Internet of Things, $100 per IOTA sounds quite realistic. This would correspond to a market capitalization of $280 billion. But even beyond the publications, which may play into the pocket of multiple investors, there are developments that testify to the great interest in the cryptocurrency.
IOTA Demand Peaks
An evaluation by Kryptoszene.de based on data from Google Trends shows that IOTA is gaining more and more interest among German investors. The search volume for the term „IOTA“ on the Google search engine reached a peak in the last week of January. At no time in the past 365 days was IOTA as trending as it is today.
It also shows that the cryptocurrency market seems to believe in the potential of IOTA: according to survey data from “Coingecko” on February 3, 94% of users think positively about IOTA and the development of the digital currency. Only 6% are skeptical. And even in this comparison, Bitcoin seems to be left behind: 74% of the respondents are optimistic about the cryptocurrency with the largest market capitalization, and 26% are pessimistic.