IOTX Surges 7.4% After Major Network Upgrade Announcement and Scalability Vote Fuel Optimism

IoTeX (IOTX) experienced a notable price increase of 7.40% over the last 24 hours on Binance, rising from a 24h open of $0.02040 to a current price of $0.02191. This upward movement is likely attributed to the recent announcement of a major network upgrade (v.2.2.0 hard fork) scheduled for June 19, 2025, which aims to enhance network performance and reliability. Additionally, the recent IIP-42 governance vote to double the network’s transactions per second has generated positive sentiment, suggesting improvements in scalability and future adoption. Market activity remains moderate, with a 24-hour trading volume of approximately $22.6 million, a market capitalization of $187.91 million, and a circulating supply of 9.44 billion tokens.