The price of IOTA climbed for a second consecutive day after developers had shared an important update about rebased, the upcoming upgrade.
IOTA (IOTA) rose on Tuesday to a highlight of $ 0.2500, which marked an increase of 40% compared to the lowest level this month.
In a statement, the IOTA Foundation announced that it will grant up to € 100,000 ($ 103,398) to qualified developers who work on the network. Recipients also receive technical, marketing and strategic support to help implement their projects.
IOTA focuses on developers in areas such as Real-World assets-tokenization, decentralized identities and supply chain management. For example, the foundation is looking for solutions for following supply chain, identity management and data integrity and compliance. The program runs until December 31.
The new Business Innovation Program is part of Rebased, the most important upgrade of IOTA, which is currently in the test network phase. Rebased will transfer IOTA to a Layer-1 network with advanced functions that surpass those of chains such as Sui (Sui) and Polkadot (DOT).
IOTA will have a parallel processing of Ethereum Virtual Machine and MOVEVM. It will be fully decentralized and process more than 50,000 transactions per second. Solana has a TPS of less than 5,000, while Tron (TRX) handles Less than 100.
IOTA holders will also benefit from a high -inserting yield between 10% and 15%, which exceed the yields of popular cryptocurrencies such as Solana and Ethereum.
The Rebase project is now in the test network and has dozens of the most popular validators such as Allnodes, Stakefish and Stardust deployment.
IOTA -Price forecast
The daily graph shows that the price of IOTA last week at $ 0.1750 soils before he climbs to the psychological level of $ 0.2500. It has now achieved the 200-day exponential advancing average
The token has moved above the 78.60% Fibonacci retracement level at $ 0.2150 and has formed a falling wig pattern consisting of two converging trend lines. The two lines are approaching the convergence, indicating the potential for further profit.
A bullish rebound could push IOTA to $ 0.3655, the 50% retracement level, which represents an increase of 50% compared to the current price. This level also corresponds to the middle line of Andrew’s PitchFork tool.
