IOTA price (MIOTA/USD) drops despite positive Thursday start

The IOTA price (MIOTA/USD) has seen a significant correction on Thursday, amid a wide-spread cryptocurrency downtrend.

The digital currency enjoyed some positive price action yesterday, especially in the afternoon, when its price rose to an intraday high of $0.264. The coin eventually finished the session at $0.263, up from its opening price of $0.254.

IOTA saw further gains in the early hours of today’s trading, which allowed it to hit a three-day high of $0.272. However, the coin pulled back in subsequent trading, giving up most of its recent gains. At the time of writing, the IOTA price was hovering around $0.26, according to data from digital currency tracker Coinmarketcap.

IOTA’s decline coincides with a larger pull-back see across the entire cryptocurrency market. Major digital coins, such as Bitcoin (BTC) and Ripple (XRP), have all seen losses over the past 24 hours, despite performing strongly on Wednesday and in today’s early trading. TRON (TRX) has been the worst performing digital coin in the top 10, having lost just over 6% in the past 24 hours.

In other IOTA-related news, Reuters yesterday reported that almost all of the $11.4 million of IOTA tokens allegedly stolen by a hacker from Oxford, England, had been recovered. This comes after it was reported last week that Europol had helped UK and German law enforcement agencies arrest a 36-year old man from Oxford accused of stealing IOTA coins from more than 85 victims around the world over the past year.

IOTA co-founder and board co-chairman Dominik Schiener told the newswire: “From what we know, just a small amount of the 10 million euros has not been found. The exchanges have blocked the hacker’s accounts. He tried to free the money, but he did not succeed.”

In today’s trading, the IOTA price stood at $0.257, as of 15:47 GMT. The digital coin has lost 1.7% of its value in the past 24 hours.