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IOTA token price faced pressure on Monday despite the implementation of the largest upgrade in its history. The token dropped to $0.2040, slightly below last week’s high of $0.24, bringing its market capitalization to approximately $777 million.

Major Upgrade: IOTA Rebased

The highlight of the week was the activation of IOTA Rebased, a transformative update designed to enhance both the user experience and developer capabilities. This upgrade introduced decentralization to the IOTA network by activating 150 top validators, enabling token holders to earn annual returns ranging between 10% and 15% by delegating their tokens.

“After more than a year of hard work, we’ve officially launched the new IOTA Mainnet with Move smart contract capabilities, Proof-of-Stake, and a decentralized set of validators. Welcome to IOTA Rebased.” – Luca Moser

Move Smart Contracts: Expanding Use Cases

The Rebased upgrade also integrated Move smart contracts, which empower developers to create decentralized applications (dApps) across sectors such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and stablecoins. This positions IOTA as a competitive alternative to blockchain networks like Stellar and Solana.

Moreover, IOTA now ranks as one of the fastest and most cost-efficient networks in the crypto space. Its ability to process over 50,000 transactions per second significantly surpasses Solana’s 3,000 and Ethereum’s 35, making it an attractive option for developers and businesses seeking scalability and affordability.

On-Chain Data and Adoption

Recent on-chain data reveals promising growth for IOTA. The network has accumulated nearly 350,000 addresses, with over 1,709 active addresses recorded on Monday. This increase in activity could accelerate further if Rebased proves successful in the competitive crypto industry.

Technical Analysis: IOTA Price Outlook

From a technical perspective, IOTA traded at $0.200 on Monday, down from its previous peak of $0.2415 last week. The token is currently hovering around the 100-day moving average, with the Relative Strength Index (RSI) and overall altcoin sentiment signaling bearish trends.

Additionally, trading volume has declined significantly, suggesting that IOTA may be in the accumulation phase of the Wyckoff Theory. The daily chart also shows a potential bullish flag pattern forming, which could indicate an upcoming breakout.

If a bullish breakout occurs, the next price target could be the March 2 swing high at $0.3143, providing a potential opportunity for investors watching the market closely.

Key Takeaways for Investors

  • IOTA Rebased: A major upgrade introducing decentralization and Move smart contracts.
  • Staking Rewards: Token holders can earn 10% to 15% annual returns by delegating tokens.
  • Speed and Cost Efficiency: Processes 50,000+ transactions per second, outpacing competitors like Solana and Ethereum.
  • Market Activity: Growing on-chain activity with nearly 350,000 addresses and over 1,709 active users.
  • Price Potential: Technical indicators suggest a possible bullish breakout targeting $0.3143.

For those interested in cryptocurrencies, IOTA presents an intriguing option, especially with its recent upgrades and growing adoption. As always, it’s crucial to conduct thorough research and stay updated on market trends before making investment decisions.

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