- IOTA is planning to enter the US market in an expansion move for 2025.
- With more innovative use cases in the works, the confidence in the IOTA price rally is high.
Dom Schiener, co-founder of the open-source distributed ledger IOTA, recently announced fresh ecosystem updates in a surprise mini-AMA on Discord. According to Schiener, the new updates are crucial for IOTA’s positioning in the blockchain space in 2025.
Schiener Reveals Latest Development
Dom Schiener noted that the announcement of the upcoming IOTA Rebased upgrade has sparked renewed interest from key industry players. He claims many now view IOTA as one of the most serious and reliable projects in the crypto space.
CNF reported that the protocol developers announced that Rebased would accelerate the network’s push to power real-world applications. The upgrade enables the network to incorporate MoveVM into its L1, allowing developers to implement programmable smart contracts to tokenize RWAs.
🚀 Dominik “Dom” Schiener drops fresh #IOTA updates in a surprise mini-AMA on Discord! 💬
In a spontaneous Discord conversation, Dom, CEO of IOTA, was “gently cornered”😉 by the community. They eagerly fired off questions about the project’s latest developments and his recent… pic.twitter.com/jpeIRNJCx0— Salima (@Salimasbegum) December 2, 2024
Notably, Web3 gaming and animation platform Gen Sol has selected IOTA Rebased as the foundation for its ecosystem. CNF mentioned in an earlier article that IOTA and Gen Sol are preparing to take over Web3 in 2025.
Schiener added that the team works on libraries, wallets, node software, and EVM integration. He said rigorous testing and audits are ongoing, with a seamless launch anticipated in early 2025. Schiener also confirmed that the Ethereum Name Service (ENS) on the network is on the table after Rebased launches. This feature could enable human-readable names for wallets and IoT devices, increasing the ecosystem’s functionality.
Another key update highlighted by Schiener is plans to strengthen the project’s global presence.
The co-founder said he already scheduled visits to strategic locations like Southeast Asia, the UAE, and Europe. Additionally, Schiener highlighted partnerships with major exchanges to break into the US market. He believes the partnerships will help eliminate US users’ existing challenges in acquiring IOTA.
The co-founder further stressed the need to deploy validator nodes run by credible businesses in the United States. He noted this is crucial to improving network security, trust, and staking opportunities. Finally, Schiener stated that the team is focused on securing high-impact collaborations and executing bold ideas crucial to position IOTA as a blockchain leader.
IOTA’s Price Explodes
Schiener’s latest announcement coincides with a surge in the price of the ecosystem’s native asset, IOTA. In the last 24 hours, the asset’s price rose by over 61% to $0.5421.
Additionally, IOTA’s price is up 158.9% in the past week and over 411% within the last 30 days. The 24-hour trading volume surged by 164.4% to $987 million, indicating investors’ increasing sentiment for the coin.
IOTA’s bullish trend has spurred optimistic forecasts that the coin could breach the $1 milestone in 2025.
Considering Schiener’s ambitious plans for the project next year, a $1 target for IOTA seems achievable. Besides, IOTA has previously seen an all-time high of $5.69, and the blockchain is gaining increasing relevance in the crypto market.
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