IoTeX (IOTX) is a decentralized project with an open-source focus that aims to empower the economics of machines. The native token for the project is IOTX and is used for payments and transactions within the blockchain. IoTeX aims to enable the Internet of Things (IoT) industry with privacy, scalability, and interoperability.
IOTX investors are bullish since IOTX has had a ROI of more than 21 in the last three years. The onset of the crypto bubble resulted in the highest-ever valuation of IOTX at $0.2611 which was then followed by the crypto winter that resulted in a dip.
Due to the open-source nature of IOTX, it is interoperable between the Ethereum blockchain and the Binance Smart chain. The crypto was originally launched in 2018 and was built with compatibility and interoperability as a focal point allowing it to be operable with decentralized applications. Transactions that are processed on the IoTeX blockchain are processed almost instantly with negligible fees.
IOTX Market and Price Analysis
Currently, the market capitalization of IoTeX is approximately $294 million with 9.48 billion tokens in circulation. The maximum supply of tokens is 10 billion with the remaining non-circulating tokens being allocated for teams, advisors, partnership incentives, and the development of both the community and ecosystem.
Over the last year, IOTX has been the victim of extreme volatility where the lowest valuation was $0.0053 in May 2021, and the highest valuation was $0.036. The 24-hour trading volume of IOTX is approximately $28 million.
IOTX has shown significant price volatility over the last 30 days, according to data from Coingecko. On March 6th, 2022, IOTX was priced at $0.024, with a market capitalization of roughly $516 million. Its price rose significantly over the next several days, peaking at $0.031 on April 4th, 2022, with a market cap of over $297 million.
However, IOTX then experienced a drop on April 5th, 2022 resulting in a valuation of $0.029, with a market cap of around $281 million. Since then, IOTX has fluctuated somewhat in price but has remained stable between $0.025 and $0.0297 during the last 14 days. As of April 5th, 2022, IOTX is trading at $0.0298, with a market cap of approximately $282 million. Despite the significant price swings, IOTX is now trading at a higher level than it was at the start of the 30-day period.
The 24-hour performance is a solid indication as we are heading towards the start of a bullish market in which we can expect IOTT to reach a valuation of $0.041 during 2023. Experts have predicted that we could see IOTX trade at $0.8 towards the end of 2024. If the trend continues as predicted, we should see IOTX touch $1.5 towards the end of 2025 and $2 towards the end of 2026.
On the low-end IOTX might reach a valuation of $0.01 and $18 by 2023 if the investor decided that IOTX is a good investment. Another good investment that might reap significant returns in the future is Signuptoken.com.
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