IOTA Token Poised for Significant Gains as Rebased Upgrade Looms
IOTA’s token price has been stable recently, forming a unique bullish pattern. This comes ahead of the anticipated Rebased upgrade, which could drive substantial growth.
Currently, IOTA trades at $0.1670, slightly above its year-to-date low of $0.1360. It’s still far from last year’s peak of $0.6375. The Rebased upgrade, though undated, is rumored to launch later this month.
This upgrade will transform IOTA into a more accessible layer-1 network. It will introduce full decentralization using delegated proof-of-stake technology with over 50 validators.
Decentralization will enable staking, offering delegators an annual return of 10% to 15%.This is higher than returns from popular tokens like Ethereum (ETH) and Solana (SOL).
IOTA will also adopt the Mysticeti Consensus, making it one of the fastest in crypto, handling over 50,000 transactions per second. This is a significant enhancement over Ethereum’s less than 50 TPS and Solana’s under 3,000.
Additionally, IOTA will become deflationary by introducing a fee burning mechanism. This process reduces the number of tokens in circulation by sending them to an inaccessible address.
Technical analysis shows a rare falling wedge pattern on the daily chart. This pattern suggests a potential breakout ahead of the upgrade. The Relative Strength Index and MACD indicators also point to a bullish divergence.
These factors indicate that IOTA could see a bullish breakout in the coming weeks,with a target price of $0.4175, about 150% above the current level.
