IOTA (MIOTA) Rises By 23% Overnight Rebounding From November Lows 

The price of IOTA, just like other cryptocurrencies has been having some difficulty in the market. Yesterday, it almost reached new lows. On an unsuspected turn of events, the price surged by 23% trading at $0.96 this morning. Around 05:00 UTC, IOTA was trading at $0.78 from the $0.91 earlier in the day. After a while, the price spiked to $0.96. This 23% surge was within a 2-hour period. Returning to the higher levels of $0.90 proves that IOTA isn’t out of the game yet. It also became one of the top five gainers of the day.

Price Of Of IOTA Against The USD

While the spike in price was commendable, the truth is that these sort of dramatic spikes don’t last for long. The price of IOTA declined and it is currently trading near the $0.92 level. The change from 37% low to 23% high within 2 hours is still encouraging. IOTA is trading on various exchanges between Tether, the USD and Bitcoin. The highest concentration of IOTA trades today has been recorded by Bitfinex. Binance also makes up for some of the bulk total. USDT and BTC are both accounting for $15 million each which is about 15% of the daily total.

IOTA (MIOTA) Price Today – MIOTA / USD

Name Price24H (%)
Bitcoin (BTC)
$3,364.05
-2.24%
IOTA (MIOTA)
$0.221309
-3.12%

As the price had a 23% spike, the volume increased by 260% from $28m to $101m within a 24-hour period. The price analysis on Hacked claims that the price of IOTA was affected by Eastern influence. Exchanges in East Asia like Bitfinex, OKEx, and Huobi, are making up for most of the trading volume. Within three days, they have all accounted for about 60% of the IOTA trade movement. They always contributed a great deal to the overnight rise in the price of IOTA. The next few days of trading will determine how much of the gains will be sustained or lost along the way. Traders should wait before making long-term trades.

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