The price of MIOTA has been booming for the last seven days, in concordance with the rest of the cryptocurrency market. Over that period of time, the value of the 22nd cryptocurrency with the market capitalization of $700 million surged by 32%, placing the coin in the 10th place, as of the time of writing, among the biggest hard-gainers of the first part of January.
The price sprint of IOTA was instigated not only by the general shifts in the market but also by the positive outlook on its fundamentals. According to the report published by Fundstrat, the New York-based market research agency, the ecosystem developed by the team behind IOTA could become home for nearly all payment gateways that involve machine-to-machine transactions.
The researchers claim that given its potential, the project could transform into a global player within the next 15 years, with a market capitalization of around $700 billion. The projected growth is based on the fact that IOTA’s system is tailor-made for the Internet of Things (IoT) that currently growing at a rapid pace.