The price of cryptocurrency IOTA, the token that represents the decentralized Internet of Things platform, is literally going through the roof. It was trading at $0.5 as November started. At the moment  IOTA is trading at $3.5. Is there more upside potential?

Before looking into this question it is worth looking into IOTA’s price chart:

The hard thing with this type of parabolic rise is to resist buying as it rises. There are two ways to look at this:

While option (2) is the one that applies to all “normal” stocks, in cryptoland option (1) can also be valid.

When it comes to IOTA we believe both options should and can be applied simultaneously which makes crypto-investing different than traditional investing. Now that is only because the blockchain and crypto space is such a blue ocean.

This is fully in line with our 10 investment tips for cryptocurrencies investing.

What exactly is IOTA by the way? Very simple, this is what it is:

“The main innovation behind IOTA is the Tangle. It’s a novel new distributed ledger architecture that is based on a DAG (Directed Acyclic Graph). One might refer to it as a “Blockchain without Blocks and the Chain” (semantically, it’s not really a Blockchain).“

Sorry, that was the technical explanation, this is a more human version of what you can do with it:

“IOTA’s unique feature of feeless transactions enables a plethora of use cases that are not possible on any other platform. Not only do we enable true micropayments (send 1 cent, receive 1 cent), but we also improve existing and enable new data integrity use cases.”

So why is IOTA rising so fast? Presumably, although we did not find a real confirmation of our thesis, because they are getting traction. Several large companies are backing the newly set up IOTA Foundation.