IOTA’s Resurgence: Stunning Growth in Just Months Post-Upgrade
Since implementing the Rebased upgrade, IOTA (IOTA) is soaring. The innovative layer-1 blockchain reached an extraordinary $36 million in total value locked (TVL), marking a new high. This milestone is attributed to high staking rewards and increased transaction volume.
The IOTA token traded at approximately $0.2125 on August 17, showing a meaningful 50% climb from its yearly low. This surge comes thanks to the Rebased update, which bolstered decentralization and allowed token holders to stake and earn generous returns.
- Staking yields sit at a robust 13%, outperforming manny competitors.
- The economic backbone, MoveVM smart contracts, has welcomed developers aiming to create decentralized apps within fields like DeFi and gaming.
- Swirl,the dominant liquid staking platform,saw a 2.8% boost over 30 days,totaling $17.14 million.
Transaction numbers also reflect IOTA’s upward trend. In the past 30 days, it processed 779,900 transactions—a hefty 31% uptick.This signals an increase in user activity across the ecosystem.
Technically,IOTA’s price chart suggests further optimism. The formation of a double-bottom structure hints at a potential rally towards the psychologically critically important $0.50 mark. Analysts beleive a breach of the $0.2742 resistance could trigger this upward trajectory.
