The world of cryptocurrencies is still firing on all cylinders as we speak. The wild Bitcoin price fluctuations have certainly introduced a lot of changes and most altcoins are still reeling. The IOTA price is certainly picking up once again, thanks to another 26.19% gain overnight. With an IOTA price of $4.25 right now, it is a matter of time until a new push toward $5 occurs. Whether or not it will succeed, is a different matter altogether.
IOTA Price Mounts Another Comeback
It is evident there are a lot of things happening in the world of cryptocurrency right now. More specifically, the Bitcoin price is making all other currencies look bad, which is not entirely surprising. It is unclear what all of this means in the long run, though. For now, the individual currencies are trying to recover in price. The IOTA price is making some interesting moves in this regard, although it is still too early to speak of a major recovery.
More specifically, the IOTA price has risen by 26.19% overnight. While that is that spectacular, it may also be only the beginning of what is yet to come. More specifically, the IOTA price hit an all-time high of over $5.5 before it started collapsing earlier this week. With this Bitcoin bull rush still firmly intact, it is evident most altcoins will remain pretty volatile, for the time being. At the same time, it creates excellent buying opportunities for fans of specific altcoins.
In the case of the IOTA price, no one knows for sure how things will play out. it is evident all worthy altcoins will mount a comeback of sorts in the coming hours and days. This Bitcoin price momentum cannot be sustained forever and the weekend will introduce a lot of interesting price action. This may also mean we will see some big changes to the IOTA price, although it is still too early to make any accurate assessments in this regard.
With over $1.11bn in trading volume, one has to acknowledge the demand for IOTA is still very strong. This altcoin has successfully garnered a lot of support among cryptocurrency trades in recent weeks, that much is evident. It is also thanks to this trading volume we see the IOTA price rise by 26.19% in USD value and 18.16% in BTC value over the past 24 hours. An interesting future lies ahead in this regard, although there will be plenty of volatility along the way as well.
As has been the case for most of the time, Bitfinex leads the markets in terms of trading volume. With nearly $500m in 24-hour volume, this company is doing something right. Binance has successfully claimed the second spot right now, although the BTC market on Bitfinex is not too far behind in terms of volume. Coinone is the fourth exchange generating over $100m in 24-hour volume right now. CoinFalcon is excluded for the time being due to their lack of trading fees, albeit they generate over $2m in volume as well.
It will be interesting to see what the future holds for the IOTA price. With every individual MIOTA valued at $4.25 right now, the market can easily swing in either direction. These are promising and fertile times for all cryptocurrencies, yet no one knows for sure how things will play out in the coming days and weeks. With the weekend almost upon us, interesting things are bound to happen sooner or later.