IOTA Ends September With Steepest Decline Among Top Crypto Assets

Down 23.21 percent, MIOTA, the cryptocurrency that powers the IOTA software, has officially ended September's trading period as the biggest loser among the largest 25 crypto assets by market capitalization.

Data reveals MIOTA limped across the finish line as the month came to a close, expending declines that began with highs set in late August when the crypto asset traded as high as $0.79.

September saw an unsuccessful effort by IOTA bulls to stem what would ultimately prove to be a sizable sell-off, with the cryptocurrency reaching a low of $0.50 according to exchange data from Binance, the world's most active trading platform.

Adding credence to this assessment is that the cryptocurrency's market capitalization has largely recouped losses, rising from a September 12 low of $186.3 billion to $223 billion by September 30.

All-time high: $5.23.Closing price on September 30: $0.56.Current market price: $0.58.Rank as per market capitalization: 11.

As shown above, MIOTA's downward move began at the start of the month, accelerating on September 1 when prices dipped by 12 percent and continued to be held under as the markets took a turn for the worse.

September 5-6 saw MIOTA suffer the greatest losses, shedding 16 cents.

MIOTA made a final attempt to surpass $0.65 on September 22 but was swiftly knocked down after it failed to produce any significant higher highs to break the downward trend.

Still, MIOTA's 30-day volatility was 33.71% on the month, an average figure for a top 25 crypto.

The chart above shows MIOTA has the potential to break out from its bearish September conditions as prices seem to have found a short-term bottom around the $0.50-$0.51 range.