Yes, IOTA came out of nowhere for myself and last I checked it was nearing LTC on Market Cap.
Some people I've seen are spreading FUD about this due to the amount of coins in circulation and the sharp rise, but the market has expanded in such a way that it's very possible for the volume to rise even further similar to how Ripple did.
As for myself, I placed a 6% chunk of my portfolio into IOTA the moment I learned about it to see where it will go. The volume is high enough and it's liquid enough for now to make it feel pretty safe that it will remain consistent through initial profit taking.
RE: IOTA: First Cryptocurrency WITHOUT A Blockchain Launches, Jumps To 6th Highest Marketcap In 1 Day!