Date: Monday, March 10, 2025 | 02:00 PM GMT
In today’s cryptocurrency market, where major altcoins are experiencing a downtrend, IOST has managed to steal the spotlight. The token surged over 40% following its latest airdrop announcement, coinciding with its transition to BNB Chain L2 for RWA and PayFi.
Airdrop Announcement
The recent price surge came after the IOST team officially announced an airdrop campaign. In the official press release, they confirmed that major exchanges, including Binance, Upbit, BitKub, Coincheck, OKX, BITPOINT, and CoinTrade, will support the airdrop.
The total allocation for the airdrop is set at 852.8 million IOST tokens, which accounts for 4% of the new IOST supply. To be eligible, users must hold a minimum of 1,000 IOST tokens in their exchange accounts. The snapshot for the airdrop will be taken on March 15, 2025, at 00:00 UTC. The distribution period will vary depending on exchange partners, occurring either monthly or every three to six months over a total of 48 months.
Breakout from Falling Wedge Pattern
Following the airdrop announcement, IOST successfully broke out of its falling wedge pattern, which had been in play since December 5, 2024, when it peaked at $0.012. Since then, the token saw a downtrend, correcting significantly to a low of $0.0040 before stabilizing.
Today, IOST finally breached the upper resistance trendline of the wedge at $0.0042, triggering a price jump to a local high of $0.0070. It is currently trading at $0.0059, showing signs of increased market activity and buying interest.
What’s Next for IOST?
A possible retest of the breakout level could be expected, as the 100-day and 200-day moving averages are acting as resistance. If IOST manages to break above these key levels, it could confirm a strong uptrend, leading to the next resistance level at $0.0084.
The MACD indicator is currently showing bullish momentum, suggesting that IOST might sustain its upward movement in the short term. With the airdrop date approaching, volatility is expected to remain high, and traders will be watching closely for further price action signals.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.