CandleFocus

IOTA surges over 45% as voting on Rebased upgrade goes live

Author: Content Editor
The cryptocurrency IOTA has surged by 46% in the last 24 hours, reaching a six-month high of $0.504, with its market cap exceeding $1.7 billion. The price rally was supported by a significant increase in futures open interest, which reached a record high of $87.89 million. The rally was fueled by the opening of the voting process for the upgrade to the Rebased protocol, which is expected to introduce several new features and improve transaction costs. Analysts are predicting further gains for IOTA, with short-term targets ranging from $0.70 to $3.50 and a more bullish mid-term target of $2.60. However, some indicators suggest that a pullback may be likely before continuing its upward trend.

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