Is IOTA Recovering?

In July, IOTA established a new high against the US Dollar at 1.
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254-fiat. But because of the poor performance and health of the entire crypto market, the pair managed to fall down to 0.881-fiat. Further attempts for successful recoveries also failed by not being able to reach a high more than 1.254 fiat.

Just a few days ago, IOTA fell again due to the manipulation on the BitFinex exchange. Also, one of the earliest adopters of IOTA called off the deal with the company. By then, the price of the IOT/USD fell to as low as 0.737-fiat. The following days the pair continued to make losses and that didn’t improve due to the market’s overall bearish situation. This led to an almost 95% drop since July. Now, IOT/USD is aiming to get a support level of 0.459-fiat and if they don’t come above it, it would only hardly intensify the hole they are in.

IOTA is best known for being related to the Internet Of Things. Despite this being the case, some investors turned their heads away from this cryptocurrency because of the bad recession on the market in the first quarter of this year. However, movements are changing. Currently, there are about 2.778,531,284 of MIOTA in circulation. As of recently, IOTA has been gaining new partners. Its Internet of Things protocol has attracted many enterprises interested in ramping up their efficiency. The IOTA price (MIOTA), on the other hand, has steadily declined in recent days.