IOTA drops by 15% after the clarification of misunderstandings Microsoft
The price of cryptocurrency IOTA retreated below $4,20 per token as of press time, after the breakout level of $5 to an intraday high of $ 5.03 in during yesterday's trading session. Drop follows the recent clarification that the IOTA collaboration with Microsoft is not an official partnership.
The so-called "cryptocurrency IoT" could not maintain its momentum since the beginning of this month and was surpassed Litecoin, now the fifth largest virtual currency by market capitalization.
The movement of the price of Litecoin and IOTA
Litecoin is the silver of crypto the Bitcoin market Gold, boasts nearly $4 billion in trading volume in the past 24 hours. Digital currency is trading at around $300 at the time of printing.
Meanwhile, IOTA during the same period recorded a 10% price loss on trading volume slightly below $500 million.
More than 40 percent of transactions IOTA was held on the platform Bitfinex, which was the first major virtual currency exchange to support cryptocurrency IoT.
The other key bit trading platform of a Chinese exchange Binance, which accounted for about 25% of the total trading volume, and number in South Korea two cryptocurrency exchange, Coinone, which is 12-14 percent of the total number of transactions.
Cryptocurrency IoT also recently experienced a big rally. In just a week, price one iota increased by about 450% after the announcement of its market data that erroneously appear to indicate a partnership with Microsoft. The reaction to this news has led to a new record peak price of $5.55 Dec. 6-th place.