IOTA Price Leads Large-Cap Index
IOTA had entered the day on a slight downslope, eventually declining as far as $1.33 during intraday trading. However, the IOTA price turned a corner at approximately 3:00 UTC and began a sustained rally that carried the token as high as $1.65 shortly before 18:00.
At present, IOTA is trading at just under $1.61, which translates into a $4.5 billion market cap. That move equates to a single-day increase of 15 percent, which was best among cryptocurrencies ranked in the top 10 by market cap.
Nearly one-third of all IOTA volume is concentrated on Bitfinex, and the token also features prominently on Binance and OKEx. Notably, the largest IOTA/KRW pair accounts for just eight percent of the token’s overall volume, preventing the “Kimchi premium” from having much effect on IOTA’s global average price.
