Bubble
IOTA IOTA
IOTA (IOTA) was trading at $0.0391, ranked #181 by market cap at $180.73M, with 24h volume of $14.50M.
Data snapshot: 2026-09-02 12:15 UTC.
IOTA was built around the Tangle, a directed acyclic graph rather than a chain of blocks, with the original goal of feeless machine-to-machine payments for the internet of things. The network has since rebuilt itself substantially, removing the central coordinator it relied on for years and moving to a more conventional validator model, so today's IOTA differs considerably from the 2017 design most people remember. IOTA began as a feeless network built on a directed acyclic graph rather than a blockchain, aimed at machine-to-machine payments and Internet-of-Things data. For years it ran with a central coordinator node while the fully decentralised design was developed, which was its most-criticised feature. The project has since rebuilt substantially, adding smart-contract capability and moving towards a staked validator model. On a market map IOTA is a long-established mid-cap whose price has been driven more by the long arc of that rebuild and by general sentiment than by measurable IoT usage.
Is IOTA a blockchain?
It was originally built on a directed acyclic graph called the Tangle rather than a chain of blocks. Its architecture has changed substantially through successive rebuilds.
What was the coordinator?
A central node that finalised transactions while the network's fully decentralised consensus was still being developed. Removing that dependency has been a long-running goal of the project.
What was IOTA designed for?
Machine-to-machine payments and data integrity for connected devices, where very small or feeless transactions matter more than complex contracts.
Does IOTA have smart contracts now?
Smart-contract capability has been added through the project's later architecture. The ecosystem remains much smaller than those of the major contract platforms.
Market cap decides how big a bubble is drawn, so rank is what places IOTA on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #157 | Plasma (XPL) | $229.01M |
| #178 | Kaia (KAIA) | $182.60M |
| #181 | IOTA (IOTA) | $180.73M |
| #208 | NEO (NEO) | $142.03M |
| #213 | eCash (XEC) | $136.44M |