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IOTA resurfaces with impressive rise and surprises the cryptocurrency market
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The IOTA cryptocurrency, known for its innovative proposal in the Internet of Things (IoT) sector, has once again gained prominence in the market.
After years of decline and little relevance in the sector, IOTA registered a significant appreciation of approximately 150% in the last seven days, according to data from CoinMarketCap.
This performance positions it as the digital asset with the highest percentage growth among the 100 largest cryptocurrencies by market capitalization.
During the 2017 bull cycle, IOTA achieved a prominent place in the top 10 largest cryptocurrencies, promising superior technology based on its “Tangle” network.
IOTA: updates that justify growth
However, in the following years, it lost space and was forgotten by many investors, even leaving the ranking of the 100 largest digital currencies.
Part of this movement can be explained by the “altseason” effect, which boosts several altcoins when Bitcoin performs positively. However, the appreciation of IOTA is not limited to the general market context.
In recent months, IOTA has undergone significant transformations. Integration with the Ethereum Virtual Machine (EVM) enabled the execution of smart contracts, expanding their compatibility with decentralized applications (dApps).
This interoperability has paved the way for the network to participate in ecosystems such as DeFi, NFTs and stablecoins. Furthermore, on November 18, the IOTA team announced the project IOTA Rebaseddescribed as the biggest update in its history.
This initiative includes improvements such as complete decentralization, support for more than 50,000 transactions per second, staking for the IOTA token and integration with MoveVM and EVM. Although the update still depends on a community vote, the potential impact is already moving the market.
Analysts like Collin Brown highlight the technical progress and opportunities that IOTA innovations can bring to the blockchain sector. With the vote on the update scheduled for December 16th, the market is paying attention to the protocol’s next steps.
IOTA resurfaces with impressive rise and surprises the cryptocurrency market
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IOTA resurfaces with impressive rise and surprises the cryptocurrency market
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IOTA resurfaces with impressive rise and surprises the cryptocurrency market
