Right now, IOTA is IN positive sentiment, reflected in its impressive price surge. Over the past week, IOTA has witnessed a remarkable 33% increase, a testament to the growing excitement surrounding its highly anticipated Rebased network upgrade, slated for launch on May 5th, 2025.
The IOTA price today, April 28th, 2025, stands at $0.21989, accompanied by a massive 24-hour trading volume of $84,360,342.
This strong trading activity underscores the market’s keen interest in IOTA as the Rebase date approaches. Furthermore, IOTA has climbed 7.12% in the last 24 hours, indicating sustained upward pressure. With a market capitalization of $819 million, IOTA is steadily advancing in the CoinMarketCap rankings, currently at 79th and eyeing a spot in the top 50.
The rebased upgrade is mainly behind the rally. The official IOTA blog recently provided a comprehensive overview of what this pivotal moment entails, reinforcing the positive sentiment surrounding the project’s future.
Read More: Why Everyone’s Talking About IOTA Again- Only a Week to Go!
Understanding the IOTA Rebased Upgrade
According to the official announcement, the IOTA Rebased upgrade will officially commence on May 5th, 2025, at 9 am CEST. This marks a significant transition from the current Stardust network to the new, enhanced IOTA network. The upgrade promises a seamless experience for IOTA token holders, eliminating the need for complex token migration. Users will simply need to import their existing wallet details – private key, mnemonic phrase, or Firefly/Bloom stronghold file – into the new official browser extension wallet, available on launch day. A complementary IOTA Wallet Dashboard app will also be released shortly before the upgrade, offering enhanced visibility and management tools.
Crucially, the announcement clarifies that while trading will continue uninterrupted on most exchanges, deposits and withdrawals of IOTA tokens will be temporarily paused during the upgrade process, with services expected to resume shortly after completion. Ledger hardware wallets will also be supported via a new IOTA Ledger app compatible with the Rebased Mainnet.
The IOTA Foundation has outlined a detailed five-step Genesis Ceremony to ensure a smooth and transparent transition. This process involves:
- The shutdown of the Stardust mainnet and IOTA EVM
- The creation and verification of ledger snapshots
- The mapping of old to new addresses (primarily for treasury funds moving to a new custody provider), and
- The collaborative creation and signing of the genesis checkpoint by the IOTA Foundation and a group of 12 initial validators.
Who are the Trusted Entities
These trusted entities include:
- The IOTA Ecosystem DLT Foundation
- Tangle Ecosystem Association
- DLT Green, P2P, Luganodes, Twinstake, KILN, Stakin, Nansen, Blockscope, DAIC/Coinage, and Staketab.
Once validators achieve consensus and finalize the genesis data, the IOTA Foundation will release the new node software, allowing validators to bootstrap the Rebased network. Simultaneously, the IOTA Foundation will activate essential infrastructure such as RPC endpoints, node APIs, explorers (including the official IOTA Explorer and the community-developed IOTAscan), and wallet applications. The IOTA team expects the IOTA EVM to resume operations within 4-8 hours following the mainnet launch.
Enhanced Functionality and Decentralization
The Rebased upgrade marks the beginning of a new chapter for IOTA. The new official IOTA wallet and the accompanying dashboard will provide users with intuitive tools for managing their assets, sending transactions, and staking their IOTA tokens. The introduction of dedicated explorers will offer unprecedented transparency into network activity.
Furthermore, the upgrade lays the groundwork for a more decentralized and robust network. Starting with 13 validators at launch, the network aims to onboard approximately 50 validators within the first 4-5 days, gradually expanding to 150 validators in the coming months. Token holders are actively encouraged to delegate their stake, further contributing to network decentralization.
The seamless transition for token holders, coupled with the enhanced network infrastructure and the promise of increased decentralization. It provides a compelling narrative for IOTA’s continued price appreciation. As May 5th draws closer, IOTA appears to solidify its dominance position as a player it once was. The relentless upward trajectory suggests that investors are increasingly confident in the transformative potential of the Rebased upgrade.
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