Native token of the IOTA ecosystem MIOTA, managed to record a slight price increase today. This price increase was received positively as other competing altcoins fell.
MIOTA rallied from $0.253 to $0.266 before a slight pullback. At the time of the news, IOTA It was trading at $0.261, up 3.69% in the last 24 hours. The token has likewise increased by 10.49% in the last seven days.
One of the main reasons for this rise is estimated to be the major 2023 updates taking place in the ecosystem. Traders interpret these updates as a detail that can create bullishness.
IOTA (MIOTA) Prepares for Major Updates
The first of a series of updates scheduled for 2023, ShimmerEVM is expected to improve network utilization for DeFi and NFTs, as well as allow value to be exchanged from Tier 1 to Tier 2. is to be driven.
Exciting times are ahead for the IOTA ecosystem.
Developers are working on major updates scheduled for 2023.
NEWS CONTINUES BELOWLet’s take a look at some upcoming projects & updates👇🏼🧵 pic.twitter.com/Ig5CnqJuMM
— The Scope De-Fi (@ScopeDefi) February 23, 2023
The shimmer network has hosted more than 100 projects since it became operational in September last year.
The second update is the IOTA Stardust upgrade, which hopes to transform the blockchain into a multi-ledger asset, allowing anyone to issue tokens or NFTs at Tier 1 and interact with Tier 2 smart contract chains.
Third, the Firefly wallet will strengthen its capabilities with new features such as minting money, sending NFTs and tokens to Tier-1 and Tier-2 networks, and voting and governance in the works.
The recently released Firefly Shimmer (v2.1.0) wallet beta 1 has new features such as a governance voting system and an NFT gallery. It also allows the creation of new native tokens.
The highly anticipated IOTA 2.0, which has a numb architecture and the capacity to process thousands of transactions in seconds, is expected to be released in 2023. This will enable new business models using microtransactions.