The recent "hype" pushed IOTA to the top 5 of cryptocurrencies according to market-cap.
Over the past seven days, MIOTA has been increasing in value and reached a market cap of over $2.3 billion USD. After a bearish period following the launch of MIOTA on exchange Bitfinex, the coin experienced a period of significant growth, surpassing the previous all-time high.
The founder David Sonstebo told CCN:
I believe the rise in value can be attributed to the fact that more and more people realize that A) Blockchain has severe problems with fees and scaling, which IOTA solves and B) Unlike most distributed ledger projects, IOTA is focused on very real solutions and work alongside world leading companies and organizations on actual problems they are facing at the moment. C) More and more projects are publicly announcing their exodus away from Bitcoin/Ether and over to IOTA.
Source:
https://www.cryptocoinsnews.com/iota-price-surges-100-in-one-week/
