IOTA price (MIOTA/USD) falls to near two-week high in downbeat market

The cryptocurrency continues to attract strong interest in South Korea, where prices remain significantly higher than the market average

IOTA price (MIOTA/USD) falls to near two-week high in downbeat market

The IOTA price (MIOTA/USD) has fallen to its lowest level in more than 10 days, as it has continued to struggle in a largely downbeat market.

Yesterday, the Internet-of-Things coin attempted a rebound after a disappointing morning session, but it encountered a stiff resistance near the $4 mark. IOTA’s advance ended with an intraday high of $3.92 and the cryptocurrency eventually closed the session at $3.54.

The ninth-largest cryptocurrency on the market decline further in today’s morning session, falling to an intraday low of $3.21, its lowest price level since December 30. The token has somewhat improved its performance in the afternoon and its price is currently hovering around $3.40, according to data from cryptocurrency tracker Coinmarketcap.

IOTA tokens are exchanging hands at a significant premium on South Korea’ second-largest exchange Coinone. However, the price of $4.76, currently listed on the platform, is not included in Coinmarktcap’s IOTA price index, due to the significant price difference to other exchanges.

Nevertheless, Coinone remains one of the most popular destinations for IOTA trading. The platform accounts for a fifth of IOTA’s 24-hour trading volume of around $205 million. In terms of processed volume, it is behind Bitfinex and Binance, which capture around 40% and 33.5% of the global market activity, respectively

In today’s trading, the IOTA price stood at $3.37, as of 14:22 GMT. The digital currency has lost 7% of its value in the past 24 hours, according to Coinmarketcap. Its total market capitalisation currently stand at $9.3 billion.

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