Member-only story
Can IOTA Make a Massive Comeback in 2024?
This former top-10 crypto could be in for an eventful 12–18 months ahead.
Non-members can read the full story here.
IOTA history overview
The project launched in 2016 after a $590,000 token sale the year before. Its main focus is to be the go-to platform for the “Internet of Everything”, seamlessly connecting with and sharing information between humans and machines.
After peaking at the 7th spot in December 2017 regarding the circulating market cap, many believed IOTA stood a chance of rivalling Ethereum, as was the case for many projects that emerged from the ICO craze in 2017 and 2018.
It appeared to be following in the footsteps of EOS — one of the most hyped blockchain projects to take on Ethereum that failed to live up to expectations, especially after EOS’ $4.1 billion ICO.
Most of these so-called “Ethereum killers” faded away from the spotlight and, dare I say, completely vanished into the ether.
Up until recently, I would have put IOTA into this category. However, it appears to have started defying this trend, up by roughly 60% for the week and reversing its 2023 losses in a matter of days.
