IOTA (IOTA) Plunge

IOTA has experienced a significant 35% surge in the past week, supported by increased development activity and expanding partnerships, particularly in African trade and digital infrastructure. This has strengthened investor confidence, reflected in both price action and bullish community sentiment, with 96% of votes leaning positive. Technically, IOTA broke above a key descending resistance channel, with the next major resistance near $0.19. Indicators like the MACD turning positive and strong accumulation levels suggest growing momentum. However, while derivatives markets show strong bullish positioning, spot markets have seen modest selling. Sustained buying near key resistance will be crucial for the rally to continue.

The L1 network IOTA has integrated with Pyth Pro, the price oracle infrastructure developed by the decentralized Pyth network that supplies financial data for blockchain applications. This upgrade grants developers access to over 3,000 institutional-grade price feeds with lower latency and higher update speeds. Previously, IOTA utilized Pythnet, Pyth's initial infrastructure where price data was transmitted via the Wormhole bridge. Pyth is now gradually phasing out Pythnet and migrating all supported blockchains to Pyth Pro. This planned update affects the entire Pyth ecosystem, not just IOTA. Developers within the IOTA ecosystem can now switch to the new infrastructure by subscribing to the Pyth Pro plan and updating their application integrations. The migration must be completed by August 18. After this date, the old Pyth Core price feeds will cease to function, and projects that have not migrated will lose access to market data.

Weekly Token Unlocks: IOTA, AERO, HYPE See Minor Unlocks This week's token unlock schedule includes minor releases for IOTA, AERO, and HYPE. Notably, Hyperliquid (HYPE) has a planned unlock. Hyperliquid is a high-performance blockchain designed to create a fully on-chain, open financial system, integrating liquidity, user applications, and trading activities on a unified platform. For this unlock, 430,000 HYPE tokens are scheduled for release, with an approximate value of $22.56 million. A chart depicting the specific release schedule is included in the original report.