IoTeX is a pioneer decentralized network driving the web 3.0 and machine economy of the future (MachineFi). The platform is built to help developers link billions of machines to web 3.0 infrastructure and create unique solutions in the DeFi, NFT, DAO, metaverse, and MachineFi domains. Its innovative roll-delegated Proof of Stake consensus model allows it to link IoT devices block by block.
Studies place the growth trajectory of the company to grow from $308.97 billion in 2020 to over $1855 billion in 2028 at a CAGR of 25.4%. IoTeX strives to be the backbone of this IoT revolution and provides the underlying blockchain that enables secure and efficient transactions that involve a massive amount of data.
The IoTeX network has expanded rapidly since its inception and includes over $2 billion in assets on-chain, a 200K+ community of users, over 12,500 devices linked across an ecosystem of DApps, and has handled over 38 million transactions.
This blog will include a brief about IoTeX’s token, IOTX, and explore the token’s historic price trends before covering the short-term, mid-term, and long-term price trends of IOTX.
Table of contents
What Is IoTeX Crypto?
IOTX is IoTeX’s native cryptocurrency and fuels the network’s blockchain. The token facilitates network transactions and smart contracts while allowing people to become stakeholders in the IoTeX network. The token can be used by users to pay for DApps and services, vote and stake for Delegates; by developers for powering their smart devices via IOTX, and by service providers to integrate their services in smart devices and DApps using IOTX.
Mimo, MinMax Finance, Fiida, ZoomSwap, StarCrazy (GFT), and xDollar are among the apps created utilizing the network, according to DeFi Llama. IoTeX’s total value locked (TVL) in January 2022 was around $22 million and currently stands at $66.08 million, signaling the growing interest and trust in IoTeX’s multi-chain platform.
The token opened in 2018 at $0.04 and has since been on a bullish run and has achieved great strides. In December 2021, IOTX reached its all-time high of $0.255 giving its investors over 200% gain on their IOTX holdings. But in recent times, it has seen a dip leaving investors to speculate on its continued growth.
|Founders||Raullen Chai, Jing Sun, Qevan Guo|
|Market Capitalization||~$5.5 Million|
|Total Supply (Circulating Supply)||~9.54 billion (9,626,124,332)|
IoTeX Price Prediction 2021: How Did It Match Up?
Throughout the year 2021, the IoTeX coin price has been quite volatile. The IOTX price began a modest upward trend on January 1st, 2021 and by May 1st, it had climbed to a high of $0.066. The IOTX coin price saw a significant bull cycle in the fourth quarter with the price surging up by 500% to reach its highest ever of $0.2611 on November 13th, 2021. However, the year-end witnessed a significant surge in sell orders causing the coin price to plummet.
IoTeX Coin Price Prediction
Price Prediction 2022
IOTX has a total circulation quantity of 10 billion IOTX coins and a current circulating supply of 9,540,779,324 IOTX coins. IOTX opened strong at $0.12 in January 2022 however, it has quickly dropped in the last few months.
IOTX is currently trading at $0.065 with a 24-hour trading volume of $40,549,607. While the total number of IOTX holders has risen to 18,281, the price has decreased by 5.82% in the last 24 hours. Currently, IoTeX (IOTX) holds the rank 100 on TechNewsLeader Price Index and Currently, IoTeX holds 94th place on CoinMarketCap with a market capitalization of $622,362,324.
Despite the bearish signals in Q1 of 2022, price projections remain overwhelmingly favorable for IOTX with analysts predicting price levels between $0.153 and $0.094. With continuous improvements in the IoTeX network, one can conclude that 2022 would be a good year for IOTX.
Price Prediction 2025
IoTeX price may cross $0.31 if the overall crypto market sees a good bull run in 2025. Given that it is expected to be held by long-term investors, its average price for 2025 could be around $0.26.
TradingBeast and WalletInvestor both anticipate that the IoTeX market will expand in 2025, with prices of IOTX reaching $0.128031 and $0.4057 by the end of the year, respectively. Other IoTeX price predictions back up the theory: PricePrediction.net predicts IoTeX will hit $0.3 by the end of the year.
Price Prediction 2030
IOTX has enormous potential especially if it leverages certain partnerships and developments causing the user base to expand allowing mass adoption of the token. Moreover, the IoT market is forecast to rise to more than one trillion dollars in 2030 with the number of IoT devices tripling in usage. This is said to indicate a positive environment for the IoTeX network’s growth.
In that light, IOTX is said to be a lucrative long-term investment and is predicted to pass an average price level of $1.40 in 2029 and reach a maximum price of $1.58 by 2030.
Will IoTeX Reach $1?
According to investors, IOTX may make new highs in the next few months of 2022 due to its consistent growth. Analysts are excited about IOTX in the long run and expect it to reach the USD 1 mark in the next 7-8 years.
Is IoTeX Crypto A Good Investment?
Despite the strong fundamentals that the project holds it is likely to not be a profitable asset in short term. However, in the long run, it can reach up to $2.82 in 2031 with the boom in IoT devices, substantial cooperation from financial institutions, and the overall health of the Crypto market.
Where To Buy IoTeX With Crypto
You can buy IOTX on Swapzone with your crypto holdings. All you need to do is to the Send section and choose IoTeX (IOTX) and enter the amount you want to swap after choosing the crypto to get in the ‘Get Up To’ section. After selecting an offer of your choice, clock on proceed and enter your wallet address to process the trade and send the IOTX deposit to your wallet!
How to Swap IoTeX?
Swap IoTeX at the lowest fees with more than 700 cryptocurrencies at the best rate on the market. On Swapzone, you can easily swap IOTX through a wide range of instant cryptocurrency exchange providers, and review the providers, their offers, speed, and exchange rates.
- Select IoTeX (IOTX) in the Send section.
- Enter the amount you wish to swap.
- Choose the crypto you’d like to get in the Get Up To section.
- Select an exchange offer to proceed with.
- Enter your wallet address to receive your exchanged crypto.
- Send your IoTeX deposit to a generated address.
- Receive your crypto!
How to Swap ETH to IOTX?
Follow the video to learn how to swap ETH to IOTX even faster than you expected, or read on to get a precise instruction.
With Swapzone, Ether to IoTeX exchange is really easy with our rich asset selection and offers from 15+ exchange providers. Buy IOTX with ETH at the best rate on the market in just a few simple steps:
- Select the ETH to IOTX swap pair.
- Enter the total amount of ETH you are going to exchange.
- Choose the best ETH to IOTX swap offer.
- Click on the Exchange button.
- Enter your wallet address to receive IOTX to your wallet.
- Send your ETH deposit to the generated address.
- Wait for your ETH-IOTX swap to be done.
- Receive your IOTX to your wallet!