IOTA, a layer-1 network, has recently achieved a record $36 million in total value locked (TVL) due to its successful Rebased upgrade and increased transaction activity.
IOTA Transactions Surge
Recent data indicates that IOTA is processing 779,900 transactions in the last 30 days, representing a 31% increase compared to the previous month. This reflects a growing user engagement with the network.
Total Value Locked in IOTA
The total value locked (TVL) in the IOTA platform has risen to a record $36 million. Specifically, Swirl, the largest liquid staking platform, saw a 2.8% increase to $17.14 million, while Pools Finance reached $11 million.
Technical Analysis of IOTA Price
The price chart of IOTA shows a double-bottom pattern at $0.1420, indicating a potential bullish reversal. Currently, the IOTA price is stabilizing above the 50-day and 100-day moving averages, which may lead to a test of the key resistance level at $0.2742 and further growth towards the psychological point of $0.50.
IOTA is demonstrating significant growth in both transaction activity and total value locked. The success of the Rebased upgrade is positively impacting the network's outlook, which may lead to further price increases.
