Key Takeaways:
- IOTA announces its new upgrade, Rebased, whose launch will be decided on the voting that takes place on 2nd December.
- Following the announcement, the IOTA token registered a growth rate of 23.05% in the last 7 days.
- The market sentiment for the IOTA token is “bullish” with the Fear & Greed Index value indicating “Extreme Greed”.
IOTA is one of the key coins that has been gaining momentum in the market in the past few days. With a price surge of above 23%, the coin is one of the many that surged during this altcoin season. The IOTA token is a digital asset that transfers value within the IOTA network. These tokens are designed to be a medium for micro-transactions and are optimized for IoT(Internet of Things). In this article, we will discuss the coin’s surge in the market, the factors that influenced this surge, and also how the coin will fare in the market in the coming days.
IOTA Current Market Standing
IOTA is ranked #120 based on its market capitalization in the crypto world. The coin started its bull run on November 15th. At that time, its market value was $0.1434. From there, it was uphill for the coin. With a growth rate of almost 25% in the past week, the coin is currently trading at $0.184.
During this bull run, the coin reached as high as $0.2035. With a trading volume of $163.37 million, which showcases a growth of 378.28% in the last 24 hours, the coin’s market capitalization now stands at $635.02 million. According to various market experts, we may see a further increase in the coin’s market value in the coming days.
Rebased Major Update & The IOTA Token Surge
The IOTA is gearing up for a big upgrade called “Rebased”. This can have a significant impact on the economics of the IOTA token. This new upgrade introduces Layer 1 Smart Contracts, full decentralization, and a Delegated Proof of Stake mechanism. The IOTA Rebased has a lot of advantages to it. Its scalability combined with the ability to process more than 50K transactions per second could be a game changer for the IOTA token.
This new launch announcement of the new upgrade combined with the altcoin season is one of the key reasons behind the coin’s sudden surge in the market. The vote for the new launch is scheduled to go live on the 2nd of December. This is a high-priority event as this voting decides whether to launch this new upgrade or continue with the existing one.
If the vote goes in favor of the new upgrade and it is launched, then it could attract more users to the IOTA platform. As more and more users join, the demand for the coin increases, which in turn can make its market value soar further in the market. As of now, we can only wait and see what unfolds on December 2.
IOTA Price Prediction: What The Future Holds For The Famous Coin
Now that we looked into the coin’s sudden surge in the market, let’s see what its future holds. For this, we have prepared a detailed price prediction table for the coin. If you want to gain insight into where the coin will be standing in the coming years, kindly refer to it.
| Year | Min Price | Avg Price | Max Price | Potential ROI |
|---|---|---|---|---|
| 2024 | $ 0.174711 | $ 0.039246 | $ 0.257574 | 50.80% |
| 2025 | $ 0.178718 | $ 0.236851 | $ 0.347322 | 103.35% |
| 2026 | $ 0.139423 | $ 0.156713 | $ 0.205558 | 20.35% |
| 2027 | $ 0.137185 | $ 0.142403 | $ 0.154598 | 9.49% |
| 2028 | $ 0.134114 | $ 0.161659 | $ 0.373182 | 118.49% |
| 2029 | $ 0.151757 | $ 0.314093 | $ 0.625193 | 266.04% |
| 2030 | $ 0.041418 | $ 0.089264 | $ 0.227124 | 32.98% |
While referring to the table, keep in mind that real-world events like the vote on December 2 can significantly impact the coin’s price, which may vary accordingly.
Is It a Good Time To Invest In The IOTA Token?
The overall community sentiment toward the IOTA token is showcasing a “Bullish” trend. As per the information provided by numerous tier-1 market analysts, the coin is expected to rise by 39.16% and reach a value of $0.243124 by the beginning of the second half of December. The token is currently trading its 16/30 days in the green with a volatility rate of 14.24% based on the past 30 days.
The Fear & Greed Index of the IOTA token is showing a value of 90 indicating “Extreme Greed”. Based on this forecast, it is the ideal time to invest in the IOTA token. However, you should keep in mind that the crypto market is one of the most volatile places in the world. So, it would be better if you conducted your research before moving on with the investment.
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