iota has surged in value in the past week to as much as $500, and it is trading in a range of $330 to $420, according to CoinMarketCap.
It is also trading in the high $200s.
The company, which was founded by billionaire Y Combinator founder Sam Altman, recently raised $10m in seed funding from China-based venture capital firm Xiala Capital.
Its token is now worth around $0.04 per token.
It has already launched a beta version of its blockchain platform that allows users to store value.
The firm is also working on its smart contracts platform, which is intended to facilitate the digitisation of contracts, and is also looking to make its AI-based trading system more useful.
A new token called Viacoin has surged to $3,000 and is trading at $4,400.
In a similar move, bitcoin has surged by nearly $400 in the last week to $1,800.
Bitcoin is still the second most valuable currency on the market behind the US dollar.