IOT/USD: Binance adds IOTA to its Flexible Savings service

IOTA is now supported by Binance-developed Flexible Deposits.
IOT/USD demonstrates a positive reaction to the news.

Tanya Abrosimova Independent Analyst

One of the world’s leading cryptocurrency exchanges Binance added IOTA and ONT to the list of digital assets supported by Flexible Deposits. This service allows users to earn interest on their crypto holdings by lending their coins to Binance Margin. From the official information from Binance website:

Average annual return: The average annual return (APR) uses the average daily interest rate from the past 7 days, multiplied by 365. It is a reference to the daily interest you are entitled to, but not exactly the same as the actual interests.

The individual maximum limit for IOTA is set at 50,000,000.

IOT/USD: technical picture

IOTA is the 24th largest digital asset with the current market capitalization of $580 million. It's average daily trading volume reached $25 million as the price increased by nearly 7% in the recent 24 hours. At the time of writing, IOT/USD is changing hands at $0.2193 with Thursday’s high $0.2126 within reach. This barrier is strengthened by daily SMA200 and the upper line of the daily Bollinger Band. Once it is passed, the next resistance of $0.2200 will come into focus.

On the downside, the initial support is created by a psychological $0.2000. It is followed by daily SMA100 at $0.1940 and the middle line of the daily Bollinger Band at $0.1960.

IOT/USD daily chart

Author

Tanya Abrosimova

Independent Analyst

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