IOTA’s recent upgrade, Rebased, is generating significant success. Just a few months after its implementation, the layer-1 network has seen a record surge in total value locked (TVL), exceeding $36 million. This growth is fueled by impressive staking yields and surging transaction activity, which analysts believe will lead to a bullish breakout towards the $0.50 mark.
IOTA’s performance this month highlights the impact of the Rebased upgrade. The network has seen over 30% increase in monthly transactions, with TVL reaching an all-time high. This growth is attributed to the introduction of double-digit staking yields, enhanced decentralization through new validator additions, and the launch of MoveVM smart contracts enabling DeFi and gaming development.
The total value locked on IOTA’s platform continues to climb this month, hitting a record high of $36 million. This surge is driven by strong performance from leading platforms like Swirl, which saw a 2.8% increase in the last 30 days.