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IOTA fell by 15 percent

The price of cryptocurrency IOTA fell to below $4.20 per each token during yesterday's trading session.

13.Dec.17 1:25 PM
By Daria Zaytseva


IOTA fell by 15 percent

The fall follows the recent explanation that the cooperation of IOTA with Microsoft is not an official partnership. The so-called "IOT сryptoсurrency" has not been able to withstand its momentum since the beginning of this month and was overtaken by Litecoin, now the fifth largest virtual currency by market capitalization.

Litecoin trading volume amounted to almost $4 billion for the last 24 hours. The digital currency is trading at a rate of about $300. Meanwhile, IOTA has registered a 10 percent loss of prices by trading volume of slightly less than $500 million over the same period.

More than 40 percent of the IOTA transactions were conducted on the Bitfinex platform, which became the first large virtual currency exchange to support the IOT cryptocurrency.

The other key trading platforms of IOTA are Chinese exchange Binance, which accounted for about 25 percent of the total traded shares, and South Korea's second cryptocurrency exchange Coinone, which held 12-14 percent of the total amount of the transactions.
The IOT cryptocurrency has also recently registered a major rally. In just a week, the cost of IOTA increased about 450 percent after the announcement of its Data Marketplace, which appeared to be a misleading partnership with Microsoft. The reaction to this news led to the appearance of a new record price peak at $5.55 on December 6.

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