Categories: Fin-Tech Tool Box

IOTA (MIOTA) set to skyrocket after losing about 10 percent of its value

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There is a drastic decline in the values of digital currencies in the market. All the top digital currencies in the market are affected by this trend, and some of them have even lost almost 15 percent of their values over the past twenty-four hours. IOTA (MIOTA) which is holding the number 10 spot on the list of top digital currencies in the world by market cap is also experiencing a massive price slash.

IOTA (MIOTA) Price Today – MIOTA / USD

At the time of writing, IOTA (MIOTA) is trading at 70 cents after losing about 10 percent of its value over the past twenty-four hours. The current market cap of the digital currency is $1.94 billion and its trading volume over the past twenty-four hours is $70.14 million.

IOTA (MIOTA) Price Trend

Despite entering the week with a reasonable profit margin, the digital currency was not still able to sustain its recent gains. Earlier today, the digital currency was even trading below the 68 cents mark, though it quickly bounced back to trade over the 70 cents mark. The digital currency even tested the 81 cents mark before it started correcting lower again.

The digital currency has lost about 15% of its value over the past seven days, and it is one of the top 15 coins with the least gains this week in the digital currency market. A greater fraction of IOTA (MIOTA) trading is presently concentrated on Bitfinex – where the trading of the token against the US dollar accounts for over 44% of IOTA’s global trading volume of $125 million.

Notably, the value of the digital currency is slightly lower on Bitfinex than other top digital currency trading platforms. The major reason for the decline in the digital currency market is not immediately clear, but the coin needs a very strong bullish pressure right now in order to prevent more declines.

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