In the early hours of Saturday, IOTA advanced as much as 41.32 percent and moved up one place in the rankings. In the process, it made a casualty of privacy-centric Dash to become the number seven digital currency. The swelling pushed IOTA's market value to more than $1.7 bln.
Veritably, this marked the second time the business-to-business token is overtaking Dash in the rankings. It will be recalled that barely two weeks ago when IOTA, in an extraordinary move, entered the elite zone. Dash was one of the three entities it shoved aside.
Will Dash fight back?
Given the resiliency of Dash, Cointelegraph went around asking whether Dash could bounce back to reclaim the number seven spot in the rankings. The feelings within the community were mixed. In a chat with CoinMania on one of the trading platforms, he stated that he's convinced IOTA is one of those flashes in a pan we see among altcoins.
However, Tutulapatu, a crypto enthusiast from West Africa, thinks the virtual currency space is about to witness another revolution:
FreedomNow told Cointelegraph:
"The Blockchainless Idea is another unique feature that's set to enrich the ecosystem. Dash has been tried and tested over time, but not cryptos like IOTA. I think I pity those who are buying IOTA left and right, Dash will definitely bounce back in the short-term.”
However, Mario Batalez thinks IOTA has come to stay and it should be watched avidly as it is not yet done. Batalez, who claims to hold a vast quantity of tokens, also believes the future of crypto is heading towards the direction of Blockchainless technology.
Though IOTA's David Sønstebø claims his platform is yet to roll out more features and services, the community is yet to see how it will play out. At the time of filing this report, Dash was closing the gap but was down 3.97 percent whilst IOTA was up 5.74 percentage points.