The price of the IOTA cryptocurrency has been reduced to less than $ 4.20 per token from the time of publication, after having exceeded the $ 5 level to an intraday maximum of $ 5.03 during the trading session yesterday. The fall follows the recent clarification that IOTA's collaboration with Microsoft is not an official association.
The so-called 'IOT cryptocurrency' could not maintain its momentum since the beginning of this month and has been overtaken by Litecoin, now the fifth largest virtual currency by market capitalization.
Litecoin and IOTA price movements
Litecoin considered the crypto silver market for Bitcoin gold, has a trading volume of almost $ 4 billion in the last 24 hours. The digital currency is quoted at around $ 300 at press time.
IOTA, for its part, has registered a loss of 10 percent in a commercial volume slightly lower than the $ 500 million in the same period.
More than 40 percent of IOTA transactions were made on the Bitfinex platform, which was the first virtual currency exchange important to support the IOT cryptocurrency.
The other key trading platforms of IOTA are the Chinese exchange Binance, which represented about 25 percent of the total volume traded, and the second exchange of cryptocurrencies from South Korea, Coinone, which made between 12 and 14 percent of the total transactions.
The IOT cryptocurrency has also registered a great recovery in itself recently. In just over a week, the price of IOTA increased by approximately 450 percent after the announcement of its Data Marketplace, which deceptively seemed to indicate a partnership with Microsoft. The reaction to this news resulted in a new record peak of $ 5.55 on December 6.
