Market Analysis

​IOTA falls down in price by 10 percent

​IOTA falls down in price by 10 percent
Aug 8, 2018 by Rico Wise

Yesterday, the IOTA currency has decreased in value by nearly 10%, in spite of the unenthusiastic recovery performed by the wider digital currency market.

Yesterday the cryptomarket received a modest recovery, allowing BTC price to have some space for the highly important 6,800 USD support price level.

Most major digital currencies and altcoins experienced price movements of the same nature, obtaining 1-2% gains. Nevertheless, IOTA was the odd one out.

In spite of an ambitious entrance made at the beginning of the week, IOTA was not able to keep up the recently made gains. At a certain point, IOTA fell down in value lower than 0.68 USD, although it managed to get a slight correction, rebounding to the current price of approximately 0.78 USD.

In comparison to the previous week, IOTA’s performance has dropped by 15%, rendering it the worst among the 25 dominant digital currencies.

The majority of trading operations for IOTA happen on the Bitfinex cryptoexchange, where the trading pair against US dollar constitutes over 44% of the total IOTA currency volume, which is worth 125 million US dollars at the moment. It is worth noting that currently the altcoin has a much lower price at Bitfinex that other top cryptoexchanges. Such cryptoexchanges as Binance, Coinone, OKEx and Upbit are all trading IOTA at the price of 0.80 USD.

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