The IOTA price (MIOTA/USD) has seen solid gains on Friday amid an uptrend observed across the wider cryptocurrency market.
Yesterday the ‘Internet-of-Things coin’ suffered heavy losses in a downbeat market that was dominated by news that a ban on cryptocurrency exchanges in South Korea was on the way. The ninth-largest cryptocurrency lost around $0.40 during the session, finishing the day at $3.37, its lowest close in nearly two weeks.
Later news that a South Korean exchange ban was not yet finalised and it was only one of the measures considered by the local authorities allowed the market to stabilise and recover some of its losses. After seeing an initial dip in today’s early trading, IOTA has been advancing steadily throughout the session. The IOTA price is currently hovering around $3.60, according to data from cryptocurrency tracker Coinmarketcap.
Coinmarketcap’s IOTA price average does not currently include data from Coinone, where the token is exchanging hands at around $4.40. South Korea’s second-largest crypto exchange accounts for one fifth of IOTA’s 24-hour trading volume of $142 million.
Bitfinex continues to be the most popular platform for IOTA trading, as it captures 38% of the total volume. The Shanghai-based crypto exchange Binance comes in second with around 34%.
In today’s trading, the IOTA price stood at $3.52, as of 16:32 GMT. The digital coin has gained 0.3% in the past 24 hours, according to Coinmarketcap. Its total market capitalisation currently stands at $9.8 billion.