The IOTA mainnet is down for two weeks now, yet MIOTA coin is still trading normally.

The question that arises at this stage is: How?

After Trinity wallets were discovered on January 25, the Coordinator, a node run by IOTA, was shut down to protect the network, confirm transactions, and prevent hacks.

Stopping the IOTA network … and stealing digital currencies worth between $ 300 thousand and $ 1.2 million

The status page, created by IOTA to keep users informed of developments, states that the main network is still down.

However, it appears that the currency “MIOTA” is still trading normally and is done without any major hassles.

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At the time of writing this article, MIOTA is trading at $0.21 with a total market capitalization of $602 million.

Returns to the answer to the question posed in the topic title How is MIOTA coin traded while the IOTA mainnet is temporarily suspended?

according to Source Cryptocurrency exchanges do not conduct operations on the mainnet, which means that when someone buys something in the exchange, the transaction is not signed on the main blockchain of the coin, as the exchanges have their own internal bookkeeping mechanism that creditors trade back In large ownership of a particular currency.

For this reason, the platforms can still trade IOTA in their order books, but it can be seen that deposits and withdrawals are disabled.

This was confirmed by Gate.io, the trading platform that supports MIOTA, that it already maintains its own bookkeeping.

Cryptonews spokeswoman Marie Tateboit stated:

Users are still able to trade IOTA on Gate.io but most cryptocurrencies are locked on the network.

A discussion of how IOTA is traded when the network is suspended is also active online, with commentators offering different explanations.

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Cryptographer Hasu explained it by saying:

Offering on the trading platforms is still possible due to the lack of trading on the IOTA mainnet.

Another agreed, saying:

IOTA can still trade within the platform’s blockchain.

While Polymath’s Graeme Moore explained:

IOTA’s trading platforms are located in a single wallet, and the platform’s internal spreadsheets update the client who owns it.

While a controversial question was asked:

The fees add up, so if IOTA dies the question is will the trading platform continue to forge your overall position into another currency to cover the trading fees it owes.

Nick Carter, co-founder of Coin Metrics, explained that:

Restricted offer in trading platforms.

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Basically IOTA is unstable, so the price differences between the exchanges will eventually appear.

The most popular IOTA trading platforms:

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