The IOTA price (MIOTA/USD) has returned above the $4 mark after gaining more than 15% in the past 24 hours.
The ‘Internet of Things coin’ rose $4.36 yesterday and while it gave up a significant portion of its gains in late trading, it still managed to finish the day at $3.97, which was its highest close in nearly two weeks. This positive momentum allowed the cryptocurrency to stabilise its position in today’s morning session, as it gradually rose to an intraday high of $4.29. The IOTA price has experienced a decline in more recent trading and is currently hovering around $4.10, according to data from cryptocurrency tracker Coinmarketcap.
The price increase has coincided with a notable improvement in terms of market activity. According to Coinmarketcap, the coin’s 24-hour trading volume currently stands at $350 million, significantly higher than the $256 million it posted on Monday. This figure does not take into account the $72 million that has been generated on South Korea’s second largest exchange, Coinone, where IOTA is being traded at a significant premium compared to other exchanges.
Some 51% of the trading volume has been generated on Bitfinex, which remains the most popular destination for IOTA trading. Meanwhile, the Shanghai-based trading platform Binance captures just over 43% of the global market activity.
In today’s trading, the IOTA price stood at $4.07, as of 16:38 GMT. The digital currency has gained 15.1% in the past 24 hours. Its total market capitalisation currently stands at $11.3 billion.