IOTA Surges Over 45% As Voting on Rebased

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Upgrade Goes Live

On Nov. 3, IOTA led gains among the 100 largest cryptocurrencies by market cap as developers initiated voting for the Rebased upgrade.

IOTA (IOTA) rose 46% in the last 24 hours to a six-month high of $0.504, bringing its market cap past $1.7 billion at press time. The gains extended its monthly gains to over 350% while its daily trading volume jumped 83,% hovering over $705 million at the time of writing.

The altcoin’s recent price rally was supported by a jump in futures open interest. According to CoinGlass, open interest in the futures market hit a record high of $87.89 million, up over three times from last week’s low of $26.27 million.

Why is IOTA rising?

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