It is evident interesting things are happening in the world of cryptocurrency as of right now. Not all of these changes are positive by any means, though. With all prices still in the dirt, things look pretty terrible for most people. The IOTA price shows there may still light at the end of the tunnel, as it is the only top currency to note any gains.
IOTA Price Gains Provide Some Relief
This past week has not been all that interesting for most cryptocurrency enthusiasts. Especially those people who invested during the second half of 2017 will not be impressed with how things are going as of right now. More specifically, virtually all of the top markets are going downhill at a rather quick pace right now. This is not exactly unsurprising at this point in time, though, as we have seen a semi-ridiculous ending to the year 2017.
The IOTA price is one of the rare exceptions as of right now. Even though it is still down by quite a margin compared to late 2017, there are some small gains on the chart over the past 24 hours. With a respectable 5.84% gain over the past 24 hours, we are now looking at an IOTA price of $1.18 again. This is not overly impressive, but given the overall market sentiment right now, it is quite interesting to see any market go up in value.
There is also an interesting development in the MIOTA/BTC ratio. More specifically, MIOTA has gained 10.49% over Bitcoin in the past 24 hours, which comes as somewhat of a surprise. Even though the value of Bitcoin is still going down as we speak, it is not exactly normal for altcoins to rise in value as of right now. Even so, one could argue now is the best time for altcoins to rise in value against BTC.
With $82.49m in 24-hour trading volume, things are not looking all that bad for IOTA. In fact, it is one of the more liquid altcoin markets, especially given how the overall cryptocurrency trading volume has dropped below $12.5bn once again. The weekend is usually prone to lower overall trading volume, this new trend is somewhat annoying to deal with, for obvious reasons.
As of right now, Binance is the biggest exchange for IOTA trading volume. Their lead over Bitfinex isn’t all that big, though, but it’s still quite interesting to keep an eye on. Coinone completes the top three as we speak, as their KRW pair is bringing some decent trading volume to the table as well. There are two fiat currency pairs in the top three for IOTA, which indicates some fresh capital is entering the market as we speak.
It is unclear what the future holds for the IOTA price as of right now. While the current trend seems positive, it is pretty obvious things will turn around sooner or later. When that happens, we will see either major IOTA price gains, or very steep losses. As no one knows where the bottom will be for Bitcoin and all other markets, things can get quite interesting in the near future.