Mantle (mnt) 
IOTA Price Surges 40% Amid Rebased Upgrade and Developer Incentives
IOTA’s price has climbed for a second consecutive day after the IOTA Foundation shared an important update about Rebased, its upcoming upgrade. The cryptocurrency surged to a high of $0.2500 on Tuesday, marking a 40% increase from its lowest level this month.
Developer Incentives and Rebased Upgrade
The IOTA Foundation announced that it will award up to €100,000 ($103,398) to qualified developers working on the network. Recipients will also receive technical, marketing, and strategic support to help implement their projects. The foundation is targeting developers in areas such as:
- Real-world asset tokenization
- Decentralized identities
- Supply chain management
The program will run until December 31 and is part of Rebased, IOTA’s most significant upgrade, which is currently in its testnet phase. Rebased will transition IOTA into a layer-1 network with advanced features surpassing those of chains like Sui and Polkadot.
Rebased Upgrade Features
Rebased will bring several key features to IOTA, including:
- Parallel processing of Ethereum Virtual Machine and MoveVM
- Full decentralization
- Handling over 50,000 transactions per second
IOTA holders will also benefit from a high staking yield ranging between 10% and 15%, exceeding the yields of popular cryptocurrencies like Solana and Ethereum.
IOTA Price Forecast
The daily chart shows that IOTA’s price bottomed at $0.1750 last week before climbing to the psychological level of $0.2500. The token has moved above the 78.60% Fibonacci retracement level at $0.2150 and has formed a falling wedge pattern.
A bullish rebound could push IOTA toward $0.3655, the 50% retracement level, representing a 50% increase from the current price. This level also aligns with the middle line of Andrew’s Pitchfork tool.
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