IOTA’s price has been experiencing quite a wild ride throughout the last month or so. The monthly highs were set around July 5th, when one MIOTA went of $1,24 USD/18514 satoshi.

Since then it has mostly been a downwards road for the currency, as the price kept bleeding until it reached the monthly lows of $0,96 USD/11742 satoshi. This run threatened to continue on into August, as the price took a steep dive on August 3rd to reach levels of $0,78 USD/10682 satoshi.

This is where the coin experienced a strong break-out, pumping hard towards $0,96 USD (now worth 13183 satoshi due to Bitcoin’s USD value dropping) before stabilizing somewhat in the short term. One MIOTA is currently priced at $0.874604 USD (3.81% drop in the last 24 hours)/ 0.00012617 BTC (3.32% drop in the same timeframe).

IOTA is currently the world’s 10th most valuable crypto project with a market cap of $2,625,554,514 USD. WMarcosChoqueRojas from TradingView noticed an interesting, rarely seen pattern forming on the IOTA chart, a so-called “butterfly pattern”.

He feels that IOTA is currently a decent mid/long term investment, one that will bring its holders solid gains once the alt season starts. The latest price/volume boost that IOTA experienced probably had most to do with its listing on the Upbit exchange. Read more from captainaltcoin.com…

thumbnail courtesy of captainaltcoin.com