IOTX coin is an IoTex utility currency which promotes the Web3 decentralized network and “MachineFi” ecosystem that links gadgets. IoTex aims to establish a “Internet of Trusted Things” using blockchain technology with the Internet of Things (IOT), where software and devices may safely communicate and share information. It’s created to integrate the physical world of internet equipment such as cameras, sensors, and other electronic devices including decentralized applications, and because of the Roll-DPoS consensus method, it’ll be both fast and scalable. IoTeX also has a simple way for maintaining privacy, as this is a cause for concern for most IoT platforms.
In this article, you’ll learn how IoTex works, as well as the platform’s future and its utility coin, the IOTX coin. We’ll also look at the IoTex coin’s price projection for the future.
Table of Contents
Coin Overview and History
IoTeX began as an open-source project in 2017 with the goal of empowering open economics for machines – a decentralized ecosystem where people and machines can interact with absolute trust, free will, and appropriately designed financial advantages.
Silicon Valley is where the company is currently based. The founders of IoTeX are Raullen Chai, Qevan Guo, Jing Sun, and Xinxin Fan.
IoTeX launched its initial coin offering (ICO) in February 2018 for $0.0000125 per token. In its initial coin offering (ICO), the project raised $14 million. In May of 2018, the IoTeX whitepaper was published. In the same year, the firm released its platform, followed by its blockchain network.
Why functionalities does IoTex provide?
People and devices can both make payments and charge for services since IoTeX gives devices a unique identity. Even machines on IoTeX have wallets and smart contracts for transaction execution. Smart contracts are similar to traditional contracts, except that instead of being written on paper, they are performed through blockchain protocols. The IoTeX network is powered by the IOTX token.
IOTX is an Ethereum-compatible currency that can be staked, spent, and/or burned to gain access to the Ethereum network’s assets. IoTex gives service providers the platform to offer services through decentralized applications (Dapps). Users can vote delegates who in turn can also vote using IoTex. It also helps developers power their Dapps.
What is the total number of IoTeX (IOTX) coins in circulation?
IOTX has a circulating supply of 9,644,304,442 tokens and a maximum supply of 10,000,000,000 IOTX as of May 2022.
IoTeX Current Price $0.0452
Price Change (24hrs) $0.006055 (up 17.90%)
24hrs Low / 24hrs High $0.03421 / $0.04094
Trading Volume (24hrs) $84,403,835.81 (up 202.47%)
Volume / Market Cap 0.2205
Market Dominance 0.03%
Market Rank #101
IoTex Market Cap $382,730,280.07 (up 18.98%)
Fully Diluted Market Cap $401,152,009.77 (up 18.98%)
IoTex Price Forecast
Various price predictions for IoTeX crypto have been proposed by various forecasting experts. All of the projections and opinions presented above are based on the IOTX token’s most recent price action and trend.
Many factors, however, could influence the future performance of this cryptocurrency, and the results could differ drastically from the projections. As a result, none of these views should be construed as an offer to buy or sell IOTX.
Let’s now take a look at the IOTX price forecast and subsequent price prediction.
IoTex came along as a solution to an assumed problem, The assumption that companies and government organizations are now processing huge volumes of data streaming to and from our gadgets for their own gain and interest. IoTeX aims to provide consumers more choice over the data they share with these organizations, as well as the ability to monetize that data if and when they choose to do so.
In a bullish situation, the IOTX price prediction is set around $0.2 to $0.3 with a probability of hitting $0.5. In 2021, there is a rather pessimistic market price projection for the IoTx, we predict that the price may rise steadily but sluggishly to $0.15. If you trade crypto assets, particularly altcoins, it is important to remember that these are extremely volatile financial assets. This indicates that although the upward potential is considerable, the downside risk is also substantial. Because the IOTX price action can change direction quickly, make sure you’re only dealing with money you can afford to lose.
Apart from the competition it will likely face from other powerhouses in the crypto market, IoTeX’s prospects are gloomy due to the slow development of IoT technology. But would credit the gain in token value, like 99 percent of tokens on the crypto market, to a smart marketing approach rather than prospects and genuine community interest. IoTeX is the first IoT blockchain that provides privacy. This makes it stand out among others and offers it a unique selling point. Another unique feature is that it has many side chains for each option and a governance chain that oversees all side chains and the ecosystem in general.
With the previous success of IOT blockchains, and IoTex giving a futuristic solution for scalability and improved efficiency, this project will have an added benefit in the long term.
IOTX, IoTeX’s native coin, had a market capitalization of roughly $30 million by the end of 2020. According to CoinMarketCap, the market capitalization of the cryptocurrency rose to $1.2 billion on December 22, 2021.
However, that enthusiasm has faded in recent weeks, and the IOTX is currently trading at $0.0398, with a market capitalization of $406 million, ranking it 101st in the cryptocurrency ranking at the time of writing (21 May).
However, analysts believe IoTX will rise again, In its IoTeX coin price prediction Gov Capital suggested that IOTX will be at $0.15 in a year’s time then rise to a price of $0.68 in five years’ time.
However, according to Wallet Investor’s IoTeX crypto price projection, the token will be worth $0.14 by this time next year, and $0.43 by April 2027. IOTX was predicted by Trading Beasts to reach $0.1 by the end of the forecast period and $0.13 by the end of 2025.
The price of IOTX should climb by the end of 2022, according to the three IoTeX projections listed above. These predictions, however, may not be completely accurate because they are based on existing trends.
IoTex (IOTX) Coin Price Prediction
Below is a full description of the IOTX price estimates for the 2022, 2025 and 2030:
IoTex Coin Price Prediction for 2022
IoTex has a more positive outlook as the year draws to an end. At current levels, the forecaster’s end of the year projection of $0.07. The maximum price prediction is $0.08.
IoTex Coin Price Prediction for 2023
IoTeX’s price forecast and technical analysis shows that the IOTX price is predicted to cross an average price level of $0.0825, with a minimum price value of $0.07 expected by the end of the current year. IOTX might also reach a high of $0.0875.
IoTex Coin Price Prediction for 2025
IOTX is predicted to rise above $0.091. IoTeX is anticipated to reach a minimum price of $0.069 before the end of the year. Furthermore, the IOTX price has the potential to reach a maximum of $0.0929.
IoTex Coin Price Prediction for 2030
IOTX is predicted to rise above $0.18. IoTeX is anticipated to attain a minimum price of $0.18 before the end of the year. Furthermore, the IOTX price has the potential to reach a maximum of $0.19.
With a solid background, knowledge and certifications in blockchain, fintech and technical content writing. Gabriel has researched, written and developed several SEO-driven articles, press releases, financial technical documents, litepapers and whitepapers in the blockchain niche. He also specializes in taking rough business ideas and making sure they are both financially and technically feasible (with a focus on blockchain, tokenomics advisory, DeFi, AI and the finance industry).