IOTA continued its downward trend this week, reaching its lowest level in over two weeks, even as developers made further progress on the Rebased upgrade.

IOTA (IOTA) token dropped to a weekly low of $0.1743 on Monday as Bitcoin (BTC) and other altcoins slipped. It then stabilized at $0.2230 on Friday, up 30% from its lowest level this week.

The coin retreated despite ongoing progress in the Rebased testnet. In a statement, developers reported that more validators had joined the testnet, including Stakefish, which has over $3 billion in staked assets, along with Realize, Allnodes, InfraSingularity, and Keyring. Other validators include Spectrum Staking, Stardust Staking, and ALUM Labs.

These validators will also help secure the IOTA network when Rebased migrates to the mainnet. The upgrade will introduce several new features to IOTA, including a parallelized Ethereum Virtual Machine and MoveVM, full decentralization, and speeds of up to 50,000 transactions per second. This is notable as Solana (SOL) handles less than 5,000 TPS.

Additionally, IOTA holders will be able to stake their tokens and earn between 10% and 15% APY. This is a significant figure, given that US government bonds yield less than 5%, while popul

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Author: Crispus Nyaga