IOTA (MIOTA) Trading Down 20.6% Over Last 7 Days

IOTA (MIOTA) traded 2% lower against the US dollar during the 24 hour period ending at 12:00 PM E.T. on August 7th. One IOTA coin can currently be bought for about $0.12 or 0.00000222 BTC on exchanges. IOTA has a total market cap of $422.03 million and approximately $6.97 million worth of IOTA was traded on exchanges in the last day. In the last seven days, IOTA has traded down 20.6% against the US dollar.

Here’s how similar cryptocurrencies have performed in the last day:

• Creditcoin (CTC) traded down 4.8% against the dollar and now trades at $0.39 or 0.00000689 BTC.
• Pax Dollar (USDP) traded down 0% against the dollar and now trades at $1.00 or 0.00001781 BTC.
• Electroneum (ETN) traded down 0.8% against the dollar and now trades at $0.0021 or 0.00000004 BTC.
• Verasity (VRA) traded 6.2% lower against the dollar and now trades at $0.0026 or 0.00000005 BTC.
• Meter Governance (MTRG) traded down 4.5% against the dollar and now trades at $0.48 or 0.00000862 BTC.
• The Transfer Token (TTT) traded down 0% against the dollar and now trades at $0.0060 or 0.00000010 BTC.
• SOLVE (SOLVE) traded up 0.7% against the dollar and now trades at $0.0089 or 0.00000016 BTC.

About IOTA

IOTA (MIOTA) uses the hashing algorithm. Its genesis date was November 25th, 2015. IOTA’s total supply is 3,382,607,068 coins. IOTA’s official Twitter account is @iota and its Facebook page is accessible here. The Reddit community for IOTA is https://reddit.com/r/iota and the currency’s Github account can be viewed here. IOTA’s official message board is forum.iota.org. IOTA’s official website is www.iota.org.

According to CryptoCompare, “IOTA is a distributed ledger technology that uses a structure called the Tangle to maintain a tally of token ownership between multiple nodes. This structure allows for newer transactions to verify older ones, bypassing the bottleneck caused by blockchains. The IOTA protocol is in research and has two public networks: the IOTA mainnet, which manages tokens, and Shimmer, which tests protocol updates. The IOTA was founded in 2015 by four co-founders, including David Sønstebø and Dominik Schiener, who currently serve as co-chairmen of the board of directors. One of the co-founders, Sergey Ivancheglo, resigned in 2019 but continues to provide advice as an unofficial advisor.”

Buying and Selling IOTA

It is usually not possible to purchase alternative cryptocurrencies such as IOTA directly using US dollars. Investors seeking to trade IOTA should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase IOTA using one of the exchanges listed above.

MIOTA/USD price chart by TradingView