In just a few decades, the data volume of the Internet of Things (IoT) has grown precipitously, and that growth is likely to continue. But, despite the merits of the technology, there are huge gaps in security, privacy, and interoperability that limit the potential of the IoT, especially for everyday people and businesses. IoTeX is there to address these flaws. Read on to find out more about IoTeX and discover IOTX coin price prediction.
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IoTeX Price Prediction: Does IoTeX Have a Future?
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Table of Contents
IoTeX Fundamental Analysis
Project name
IoTeX
Stock Symbol
IOTX
Current Price
0.02133131
Current Supply
9446755889
Official Website
IoTeX was founded in 2017 by Raullen Chai, the head of cryptography at Uber; Quevan Guo, product lead at Facebook; Xinxin Fan, sr. research scientist at Bosch; and Jing Sun, managing partner at Sparkland Capital.
IoTeX is the first Internet of Things decentralized ecosystem that combines digital and physical worlds, allowing users to overcome the centralized organisations' control over the devices and empowering users to capture value from the devices they own through the decentralized applications (DApps).
IoTeX combines blockchain, secure hardware (TEE), and data innovation to create the Internet of Trusted Things (IoTT) and provide end-to-end trust for all network participants. IoTeX assignes a unique decentralized identity (DID) to people, machines and businesses, allowing them to interact in peer-to-peer (P2P) networking.
IoTeX is an open-source blockchain protocol that brings the power of blockchain to devices, DApps, and NFTs. IoTeX allows developers to build any Solidity-based smart contract quickly and with very low fees.
The IoTeX blockchain uses Roll-DPoS consensus mechanism, a type of Delegated Proof of Stake (DPoS) designed in-house to support the high scalability required for IoT use cases. Unlike traditional DPoS that utilizes a fixed number of Delegates, Roll-DPoS randomly selects 24 of the top 36 community-voted Delegates to produce blocks every hour, which improves the decentralization and security of the IoTeX network without sacrificing performance.
IOTX is the native utility token of the IoTeX network that governs the underlying blockchain protocol while being used as the gas for the blockchain protocol. IoTeX stakeholders can spend, stake, and/or burn IOTX in order to access network resources. IOTX allows users to access DApps/services and delegates to stake IOTX in order to be eligible to mine and get rewards, it also gives developers a way to power their devices/DApps and incentives, and presents service providers with the opportunity to offer services to devices/DApps that can be paid in IOTX. IOTX is burnt after a new device joins the network and an airdrop is being completed. With the increase of devices, the value of the IOTX token grows.
IoTeX Live Price Chart
At the beginning of 2022, the IoTeX coin’s value was fluctuating widely. With the price of $0.128, IOTX fell to $0.1 in two weeks, then it rose to $0.12 and, by the end of January, dropped to $0.07. The situation didn’t change much till April: the IOTX token price was varying between $0.07 and $0.1 for two months.
On April 3 IOTX peaked at $0.104 and hit one of the highest points of the year, but since then the IoTeX token price was gradually losing its value, reaching $0.029 by mid-May. The second part of the month IOTX was trying to recover, and on May 31 it went up to $0.04111.
In June the token price was slightly declining, and by June 19 it fell to $0.02428. There was a gentle growth the next two weeks, but then IOTX dipped again.
In July the IoTeX coin was fluctuating between $0.02 and $0.03. And at the end of the month IOTX started its upturn. By August 17 it was traded for $0.04, but then the price decreased.
For two months the IOTX price was at the level of $0.027, and it halted around that point till November. On November 8 the IoTeX foundation launched W3bstream, a decentralized infrastructure for connecting smart devices to smart contracts, which affected the IOTX price: it climbed to $0.03409. However, the price went down since then.
The IoTeX coin price stayed constantly low, and on December 21 it hit the lowest point of the year with the price of $0.01977.
The IoTeX token didn’t avoid a year-long bear market in 2022, but, finally, IOTX started to show an upward trend. In January 2023 the coin price steadily went up, and by the end of the month it jumped to the level of $0.03 again. The token price is very likely to increase in the near future.
IoTeX Technical Analysis
Despite the fact that 100% accurate technical analysis for IoTeX cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated IOTX buy-and-sell rating for selected timeframe. The summary for IOTX/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
IoTeX Price Prediction
Below we have collected the most reliable price projections for IoTeX (IOTX) from popular forecast platforms.
IoTeX Price Prediction for 2023
As for IoTeX price predictions for 2023, there are divergent opinions. PricePrediction.net expects an upturn towards $0.031357, and WalletInvestor echoes with ~$0.0375 by the year’s end. Other experts, for example, from TradingBeast, are more pessimistic about IoTeX’s future price, citing numbers downwards of $0 in December.
Potential ROI:
8%
Buy
IoTeX Price Prediction for 2024
In their IoTeX price predictions for 2024, WalletInvestor forecasts the coin’s price to go down to $0.00315 by December. Forecasting IoTeX future, TradingBeast expects further decrease of its price, too, saying the IoTeX price will reach ~$0 by that time. On the contrary, PricePrediction.net keeps predicting IoTeX price growth, quoting prices around ~$0.03925 in 2024.
Potential ROI:
-34%
Sell
IoTeX Price Prediction for 2025
IoTeX price predictions for 2025 are still predominantly negative, with some analysts promising prices in the $0–$0.00102 range (TradingBeast, WalletInvestor), while PricePrediction.net takes a different view and cites the possibility of the price reaching $0.024744 in December 2025.
Potential ROI:
-60%
Sell
IoTeX Price Prediction for 2026
Both PricePrediction.net and TradingBeast doubt that the IoTeX market will grow in 2026, predicting the price drop to $0.002773 and $0 by the end of the year respectively. Other IoTeX price forecasts support the idea: WalletInvestor forecasts IoTeX to fall down to $0.00153 by December 2026.
Potential ROI:
-93%
Sell
IoTeX Price Prediction for 2030
Speaking of long-term IoTeX price predictions for 2030, experts present two polar opinions. WalletInvestor expresses the view that IoTeX price won’t grow further and, opposedly, will decline to $0.002922. TradingBeast’s price prediction for IoTeX echoes with the projection of a downtrend to $0. Despite this, PricePrediction.net’s vision remains positive, promising growth up to $0.028157.
Potential ROI:
-51%
Sell
Summary
As it can be clear from the analysis cited above, IoTeX (IOTX) projections are rather contradictory. There is no universal consensus either about positive or negative future IOTX price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the IoTeX projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer:
This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
