The IOTA (MIOTA/USD) priced plunged with 7.5% to $4.05, its reached the highest one for over a week. Prices touched a high $4.23 before paring gains. IOTA currently has a market capitalization = $11.8 billion. It was one of the most active crypto with over 2.8 billion turnaround.
Over $274 million IOTA changed hands around over the past 24 hours, according to CoinMarketCap. Bitfinex and Binance changed around 1/3 each and South Korea’s Coinoine saw generated almost 15% of the daily foot traffic.
In the beginning of the week IOTA saw a large drop compare to last week, as the global concurrency market underwent a sharp correction. Prices plunged from record highs above $5.30 all the way down the $3.35.
Even with the latest bout of volatility, IOTA has experiences a surge in buying interest over the pasts four weeks following months of lateral moves.
The next big Resistance around IOTA is likely to be when prices approach $5.00. Longer term, the expectations are to hit prices high than $5.50.
The recent announcement that Bosch’s venture capital arm recently acquired a significant stake in MIOTA tokens, a sign the German industrial giant was betting big on the Internet of Things (IOTA) also rose expectations of IOTA performing great in the coming months. Especially the expectations that IOTA will cooperate with Tokyo Municipality partners.