IOTA (MIOTA) Hits 24-Hour Trading Volume of $7.78 Million

IOTA (MIOTA) traded up 1.6% against the dollar during the 1 day period ending at 11:00 AM Eastern on July 2nd. One IOTA coin can currently be purchased for approximately $0.26 or 0.00001371 BTC on cryptocurrency exchanges. In the last seven days, IOTA has traded 10.2% lower against the dollar. IOTA has a total market capitalization of $734.40 million and approximately $7.78 million worth of IOTA was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed in the last day:

  • VITE (VITE) traded down 1.6% against the dollar and now trades at $0.0209 or 0.00000109 BTC.
  • Obyte (GBYTE) traded up 1.3% against the dollar and now trades at $12.54 or 0.00065084 BTC.
  • Poseidon Network (QQQ) traded 24.1% higher against the dollar and now trades at $0.0020 or 0.00000010 BTC.
  • IoT Chain (ITC) traded 3.3% lower against the dollar and now trades at $0.0101 or 0.00000052 BTC.
  • HYCON (HYC) traded 7.9% lower against the dollar and now trades at $0.0001 or 0.00000001 BTC.
  • TrustNote (TTT) traded flat against the dollar and now trades at $0.0000 or 0.00000000 BTC.

IOTA Coin Profile

MIOTA is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. Its genesis date was July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. The official website for IOTA is www.iota.org. IOTA’s official message board is forum.iota.org. IOTA’s official Twitter account is @iotatoken and its Facebook page is accessible here. 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 presently possible to buy alternative cryptocurrencies such as IOTA directly using US dollars. Investors seeking to acquire IOTA should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy IOTA using one of the exchanges listed above.

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