When the Bitcoin price tanks out of the blue, all of the other markets will follow suit in quick succession. Today is no exception in this regard, as the entire top 10 – except Tether – has lost over 1% in value. Further down the ranking, the IOTA price is putting up a valiant fight. It genuinely attempts to buck the trend and stay above $0.30. So far, so good, for this market.
IOTA Price Shows Signs of Potential Promise
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It is not all that easy for any cryptocurrency to note solid gains when Bitcoin goes in the red. Although it remains to be seen how long IOTA can avoid this bearish pressure, the current momentum doesn’t look half bad by any means. There is some effort by trades to keep this train going and ensure one MIOTA doesn’t drop below $0.3.
Whereas Bitcoin has lost over 1.3% in value today, the IOTA price has gained 2.8% in USD value and 4% over Bitcoin. As such, one MIOTA is currently priced at $0.307143, or 7,648 Satoshi. A more than respectable value for a market which struggles to generate even $25m in actual trading volume. One would expect this figure to be higher following this promising trend.
Unlike other altcoins which pump for no reason, there is an IOTA-related development which gets some people excited. Zeux has confirmed they are adding IOTA as a solution for crypto payments. Developments like these can help put this project on the map, as it can be used for payments at retail stores. While Zeus may not influence the MIOTA price all that much, it is a promising sign for the community members.