IOTA price rallies to new all-time high amid record trading volumes

The IOTA price has hit a new all-time high after gaining more than 30% over a 24-hour period. According to data from cryptocurrency tracker Coinmarkecap, the new record of $1.19 was set today at 02:34 GMT. The IOTA price has since retreated to lower level and is currently hovering around $1.10.

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The record is the result of rally that has developed over the past few sessions. After a particularly robust performance on Monday, IOTA broke above the $1 level and touched the previous all-time high of $1.10, which had been set on August 17. The cryptocurrency eventually closed the session at $1.04.

IOTA’s record-breaking run has been supported by record levels of trading. The coin’s daily trading volume soared to more than $174.5 million, while the current 24-hour figures hint at even stronger market activity. According to Coinmarketcap, nearly $250 million worth of IOTA tokens have exchanged hands in the past 24 hours.

About 83% of those trades have taken place on Bitfinex, while the Shanghai-based Binance exchange captures 15.6%. The OKEx trading platform, which added support for IOTA just a few days ago captures just over 1% of all trades.

In today’s trading, the IOTA price stood at $1.07, as of 10:02 GMT. The digital currency has gained 27.3%, Coinmarketcap data shows. It has total market capitalisation of nearly $3 billion, which makes it the ninth-largest cryptocurrency on the market.