While IOTA (MIOTA) is currently one of only two cryptocurrencies in the top 10 that are posting gains for the latest 24-hour period, the digital coin has experienced a significant drop from its yesterday highs.
The 10th largest cryptocurrency on the market saw a significant spike in the latter part of yesterday’s session, which lifted its price to a one-week high of $2.08. However, the digital token was unable to sustain such a rapid increase for a long period of time, which led to a sharp pullback toward the $2 mark. Nevertheless, IOTA finished the session at $1.97, significantly higher than its opening level of $1.88.
IOTA spent the early hours of today’s trading swinging between gains and losses, but since then a more pronounced downtrend has been established. The afternoon portion of the session has seen the cryptocurrency falling to an intraday low of $1.88, although the token has made an attempt to recover some of its losses in more recent trading. At the time of writing, the IOTA price was hovering around $1.95, according to data from cryptocurrency tracker Coinmarketcap.
The latest market data also shows that IOTA remains one of the least-traded major coins on the market. Around $65 million worth of IOTA tokens have exchanged hands over the past 24 hours, which is the second-lowest trading volume in the top 10. Bitfinex accounts for 42.7% of that volume, while the Shanghai-based trading platform Binance comes in second with around 32%.
In today’s trading, the IOTA price stood at $1.93, as of 15:31 GMT. The cryptocurrency has gained 1.5% in the past 24 hours and its total market cap currently stands at $5.3 billion.