Source : Crypto News focus youtube channel
- IOTA is experiencing a significant price surge ahead of its upcoming Rebased upgrade, which introduces staking rewards, Move-based smart contracts, and improved scalability.
- Analysts predict a potential 95% price increase if the bullish momentum continues following the upgrade’s implementation.
The IOTA price is gaining strong bullish momentum ahead of its major Rebased network upgrade. The token has surged for ten straight days, climbing to a two-month high of $0.2415 — an impressive 85% jump from its recent lows in April. Analysts now predict a potential 95% rally as excitement builds in the market.
Why Is IOTA Price Rising? Key Drivers Behind the Rally
The upcoming Rebased upgrade, scheduled for Monday, May 5, is the biggest in IOTA’s history. It will introduce several powerful features that are attracting both investors and developers.
For investors, the most notable change is the launch of staking, which could offer returns between 10% and 15%. This is made possible as IOTA shifts to a delegated proof-of-stake (DPoS) system with more than 150 validators, including major names like Ankr and Nansen.
Developers will also benefit from the integration of Move-based smart contracts. This upgrade will enable the creation of decentralized applications (dApps) in fast-growing sectors such as gaming, NFTs, and decentralized finance (DeFi). With a network throughput of 50,000 transactions per second, IOTA aims to compete directly with Ethereum, Solana, and Tron.
Two dApps — Swirl (a liquid staking platform) and Pools Finance (a decentralized exchange) — have already launched on the Rebased testnet, demonstrating the real-world potential of the upgrade.
IOTA Price Technical Analysis: Bullish Breakout Points to Further Gains
Technical indicators show that IOTA has broken out above a falling wedge pattern, a classic bullish signal. It has also crossed key resistance at $0.2095 and is trading above its 50-day moving average.
The next major target is the $0.4235 level, which is approximately 95% higher than the current price. However, if the price drops below the $0.15 support zone, the bullish outlook could be invalidated.
The Rebased upgrade is a crucial milestone for IOTA’s future. By introducing staking, smart contracts, and higher scalability, IOTA is setting itself up for significant growth in 2024 and beyond. If the upgrade rollout is successful, IOTA’s price could continue to climb sharply as adoption and investor interest increase.
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