IOTA (MIOTA) Rallies After Listing On Huobi, CobinHood Next
IOTA (MIOTA) has regained the number 9 slot on coinmarketcap.com; wrestling it away from Tron (TRX) that looked unstoppable in the markets a few days ago. IOTA is currently trading at $2.37 and up 13.07% in the last 24 hours. The coin’s market capitalization is currently at $6.474 Billion: a cool $642 Million higher than that of Tron in the number 10 position.
Upon further investigation with respect to the sudden surge of IOTA in the markets reveals that the coin was listed today at 10am, UTC + 2, on popular exchange Huobi. This is less than 2 hours ago and this has been the reason for the spike in value.
Huobi.pro is ranked second on coinmarketcap.com and according to exchanges that charge trading fees. In terms of all exchanges, including those with zero trading fees, Huobi ranks third after BitMEX. Huobi is currently doing $1.8 Billion in 24 hour trade volume and at the moment of writing this. The exchange is based in Beijing, China and was founded in September 2013. Initially, it was registered under Huobi.com, but as the industry grew, the founders changed it to Huobi.pro.
With respect to IOTA, there is also another scheduled listing of the coin on Cobinhood.com. The listing will occur tomorrow, 4th May at 00:00 UTC. The announcement of the listing via medium.com goes on to state that:
Depositing and trading IOTA with BTC, ETH, and USDT trading pairs will be live on May 4th, while withdrawing will be enabled two weeks after listing (this post will be updated with the exact date).
Launched late last year in December, Cobinhood has a thriving community with daily trade volume currently valued at $30.562 Million. The exchange charges no fees for trading at all!
Another exciting event for the IOTA Project, is the speaking engagement that IOTA Foundations’ Julie Maupin will be doing tomorrow at the Asian Development Banks Annual Meeting dubbed New Technologies in Finance: Opportunities and Challenges for Asia.
In a tweet, the IOTA News announces that Julie Maupin is excited to be in Manila to speak at the event.
In conclusion, the next 48 hours will be an eventful one for the IOTA foundation and the coin in the markets.