IOTA is Seen Weakening amid Expected Value Erosion
IOTA as most of the other altcoins has finished its rally this fall. Overall performance of the coin is not too much impressive as it rose by 40% since October 16 through November 12 to $0.2047, the highest since June.
IOTA prices are now being dragged by a bi-weekly token release that will last for 4 years and will increase the amount of tokens in circulation by 39%. IOTA Ecosystem was positioned as a network without inflation, and this is contradictory to what is going on. IOTA Foundation technical team that supported it app was laid off this summer with technical director Charlie Varley left in August. It seems that the Foundation has run out of funds and was unable to find investors to continue its ongoing development. Fewer staff at the IOTA Foundation and lower experience give little hope for any kind of breakthrough.
With the drag of 39% value erosion IOTA could hardly compete with other tokens. Thus, without any visible growth drivers IOTA prices are likely to deteriorate towards the support at $0.1500 per token.
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