iNVEZZ.com:

The IOTA price (MIOTA/USD) has experienced a sharp downward correction that has put an end to its most recent rally.




The Internet-of-Things coin gained a significant boost from the recent announcement that Japanese tech giant Fujitsu was launching a Proof-of-Concept to utilise IOTA-rsquo;s Tangle protocol for audit trials in the manufacturing industry. IOTA was one of the best-performing major altcoins during the first two days of the week, as its price topped the $0.60 and $0.70 levels in two consecutive sessions. Attempting to extend its winning streak, the coin mounted a strong offensive at the $0.80 mark on Wednesday, but its attempt to break above that barrier was faced with heavy resistance. After reaching a 22-day high of $0.798 in late morning trading, the IOTA price experienced a reversal that seemed to be mirroring a larger downtrend that had started to develop on the digital currency market. The coin eventually finished the day at $0.716, down from its opening level of $0.768.

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