The rise of IOTA has been well documented over the past week or so. With the IOTA camp rife with speculation, with announcements, left, right, centre and even left again, its no wonder that IOTA as a currency is looking fantastic at the moment.
Notably, the launch of the new IOTA Ecosystem and a teaser for the looming announcement for IOTA’s Q, or Qubic, these announcements have seen IOTA storm up the rankings and have seen its value increase, dramatically.
Just in the past week, we have seen IOTA pace from a value of $1.85, right up to peaks of $2.68 and $2.56, the current trajectory of IOTA places it on a path towards $3.00, a value that, given the current state of IOTA’s progression, is indeed becoming more and more realistic.
The important thing we should consider here is that not so long ago, TRONs TRX managed to pass IOTA in terms of market capitalisation prior to the surge in IOTA. This was of course short lived, with IOTA taking ninth place back in good time. Now it almost looks like IOTA could continue to climb, taking eighth place from Stellar.
Let’s now consider that in just over a week, IOTA’s market capitalisation has jumped from $5,150,969,929.00, up to $7,128,494,544.00, sitting at a solid $7,096,335,380.00 at the time of writing.
Likewise, at the time of writing, Stellar has a market capitalisation of $7,118,258,822.00, meaning the difference between the two currencies stands at $21,923,442.00.
The gap is still significant, but it does seem IOTA is about to storm ahead. If IOTA manages to take the eighth spot, we will only see its popularity rise and thus may even see it’s value, skyrocket.
What might this mean for Stellar?
Well, the bad news for Stellar is that if it is forced down to ninth place, it is safely in the crosshairs of TRON. Granted, at the moment TRON’s market cap is much lower than both Stellar and IOTA, but the pending launch of the new TRON MainNet, plus the integration of TRON’s own blockchain will no doubt see it’s market cap take a huge jump towards the end of the month. In this instance, TRON is certain to take ninth place off whoever is unfortunate enough to sit there, be that IOTA or indeed, Stellar.
For now, let’s watch how the bottom end of the top ten shapes up. One thing is for certain, the ranking we see now are due for a big change, it is just a matter of time before we see, who this will affect and when this will begin to take place.