IOTA prices continued rallying today, building upon their recent gains as the cryptocurrency enjoyed sustained momentum following the beta release of its Trinity Mobile wallet.
The price of the IOTA token, which is used to power a blockless distributed ledger called the Tangle, rose to as much as $1.80 today, according to CoinMarketCap. By reaching this price, IOTA had climbed roughly 16% in 24 hours, outperforming the other top 10 cryptocurrencies ranked by market value, additional CoinMarketCap figures show. Further, the digital currency was up roughly 24% from the intra-week (and intra-month) low of $1.34 it hit on May 28.
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IOTA’s Recent Volatility
The IOTA token has had a volatile month, rising sharply during the first few days of May as markets responded to positive news developments. The digital currency reached as much as $2.68 on May 3, up more than 45% from the price it had at the start of the month, before falling back and rallying to $2.59 on May 8.IOTA then followed a downward trend, which ended recently when the digital currency hit $1.34, its lowest point this month. The digital currency has experienced notable gains since then, trading at $1.78 at the time of report.
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