IOTA drops 15% after Microsoft partnership rumours denied


After its major rally over the past week, where the price increased by about 450% after the company announced its Data Marketplace, there have been circulating rumours that IOTA signed an official partnership with Microsoft. This spiked the price to a record peak of $5.55 about a week ago on the exchange platforms.

However, IOTA has dropped more than 15% in price today after team members officially announced that there is no collaboration with Microsoft despite the rumours. After a 24-hour high of $5.03, the coin currently sits at $3.93 and a satoshi value of 0.00022112 on Binance.

40% of the IOTA transactions are exchanged on Bitfinex and other platforms available include Binance, which accounts for a quarter of the total traded volume and Coinone, a South Korean exchange platform, that makes up 12-14% of the total transactions.

The other major gainer of this past week is Litecoin, which boasts a nearly $4 billion USD trading volume in the past 24 hours, currently sitting around the $300 mark and is the 5th largest cryptocurrency by market cap.

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