IOTA price $0.60 ----> $0.00000049 in one day !!!!!

in cryptocurrency •  7 years ago  (edited)

Hy Guys

Did anybody noticed the price of IOTA on coinmarketcap !!
I feel lucky that I didn't invested yesterday in this coin !

Screen Shot 2017-06-15 at 09.54.12.png

Apparently it changed from $0.60 to $0.00000049 today.

On Bitfinex it is still being traded at $0.48 , strange !!

Screen Shot 2017-06-15 at 10.02.24.png

Is any body planning to invest in this coin or understand whats happening ?

Thanks

cryptocurrency crypto-news crypto iota coin
7 years ago by

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$16.58
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    • [-]
      ·  7 years ago 

    Looks like the creators sold their tokens for a profit, drive the price down on the markets, and then buy back in at a lower price.

    I guess this sort of pump and dump is a good rational for Steem Power, in that if the creators are mostly holding Power, then they can't just dump it all in one day, which helps attract more investors willing to play by the same rules.

    This fact must add to the stability of Steem compared to other tokens.

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    3 votes
    [-]
      ·  7 years ago 

    But is it not suspicious why the exchange is selling at completly different price ?

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    $0.00
      [-]
        ·  7 years ago 

      This is what @recrypto had to say about it:

      For just clarifications for the unit used on IOT.

      By default the exchanges uses:
      MIOTA != IOTA

      So the current price is $0.53 per MIOTA and not $0.53 per IOTA.

      1 IOTA = $0.00000053
      1 meta-IOTA = $0.53
      1 giga-IOTA = $530

      1 mega-IOTA = 1,000,000 IOTA
      1 giga-IOTA = 1,000,000,000 IOTA

      *Spot market price as of 2017-06-15

      At first, I got confused as well. XD

      The reason behind it though as I've read is to eliminate decimals in transactions.

      Hope it helps!

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      [-]
        ·  7 years ago 

      pump and dump.. see BCN and many others..its brutal day for cryptos

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      [-]
        ·  7 years ago 

      Yeah maybe its time to buy more !

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