The Economic Times: This cryptocurrency is up 1,000% in a month, and it’s not bitcoin or ethereum

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https://economictimes.indiatimes.com/markets/stocks/news/this-cryptocurrency-is-up-1000-in-a-month-and-its-not-bitcoin-or-ethereum/articleshow/61976303.cms?from=mdr

All credits to: By Rahul Oberoi,

 

India: With a rally of astounding nearly 1,000 per cent in the past one month alone, IOTA is now the fourth biggest crytocurrency in terms of market capitalisation after bitcoin, ethereum and bitcoin cash.

Prices of IOTA surged 980 per cent to $4.14 on December 7, 2017 from $0.38 on November 7. The e-currency has surged over 180 per cent in December so far.

One cannot directly buy IOTA in India but can exchange bitcoin for IOTA on couple of websites including Binance.

IOTA was founded in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener and Serguei Popov.

Back home, The Reserve Bank of India on Tuesday reiterated its concerns about Bitcoins, stoking fears that a rapidly swelling bubble could burst in a spectacular fashion.

The Central Bank said it wanted to reinforce its previous message to “users, holders and traders of Virtual Currencies (VCs) including bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs.” The RBI had earlier said those trading in VCs were doing so at their own risk, given that the central bank has not given a licence or authorisation for any company to deal in such cryptocurrencies.

 




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