IOTA came crashing back down to earth on Thursday following an epic rally that took prices to record levels. The latest pullback has done very little to dissuade market participants about the coin’s long-term appeal. The IOTA-dollar exchange rate plunged more than 20% to $3.47. The coin touched an intraday low of $3.20 before paring losses later in the session.
At present values, IOTA is capitalized at $10.6 billion, placing it fourth among active cryptocurrenices. Daily trade volume exceeded $1.3 billion, with the bulk of the turnover occurring on Bitfinex and Binance. Combined, the two exchanges accounted for nearly 60% of market activity.
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