Iotx Coin: A Good Investment Or Just Hype?

IoTeX (IOTX) is a digital currency that fuels the IoTeX blockchain, acting as a gateway to its market. As of June 2024, the IoTeX price prediction for the rest of the year is expected to range from $0.048565 to $0.061249. In the long term, IoTeX is expected to trade between $0.079404 and $0.289098 by 2030. IoTeX combines blockchain, secure hardware, and data innovation to create the Internet of Trusted Things (IoTT) and provide end-to-end trust for all network participants. It is the first Internet of Things (IoT) decentralized ecosystem that combines the digital and physical worlds, allowing users to overcome centralized organizations' control over devices. IoTeX has a good use case, well-designed tokenomics, an active community, and a solid team behind it, making it a potentially good investment. However, it is important to remember that cryptocurrencies are highly volatile, and the IoTeX token price has been fluctuating since 2022.

IoTeX's current price and market cap

IoTeX's current price is $0.05, with a market cap of 9,441,378,955 IOTX. In the past 24 hours, the crypto has increased by $0.0012 in its current value.

In the last month, the price of IOTX has increased by 15.95%, adding a colossal average amount of $0.01 to its current value. This sudden growth means that the coin can become a solid asset now if it continues to grow.

IoTeX's current price is $0.034524 USD, according to another source. Over the last 30 days, IoTeX has had 14/30 (47%) green days and 13.75% price volatility.

IoTeX's current price is $0.0387, according to another source.

IoTeX's price predictions for 2024-2030

IoTeX is a blockchain platform designed to enable efficient, secure, and scalable machine-to-machine interactions. The IoTeX price prediction for the rest of 2024 is as follows:

• August 2024: Crypto analysts expect the IOTX price to be around $0.0328. The cost may drop to a minimum of $0.0311, with a potential peak value of $0.0345.
• September 2024: The IOTX rate might reach a maximum of $0.0413, with a forecasted average of $0.0378.
• October 2024: The IoTeX cost is expected to fluctuate between $0.0411 and $0.0433, with an average level of $0.0422.
• November 2024: The IoTeX value is expected to not drop below a minimum of $0.0428, with a maximum peak of $0.0471. The estimated average trading value will be $0.0450.
• December 2024: The maximum trading value of IoTeX will be around $0.0477, with a possibility of dropping to a minimum of $0.0392. The average cost will be $0.0435.

For 2025, the IoTeX price prediction is as follows:

The minimum price of IoTeX will be around $0.0578, with a maximum expected price of $0.0685. The average trading price might be $0.0594.

For 2026, the IoTeX price prediction is as follows:

The minimum and maximum prices are expected to be around $0.0834 and $0.0995, respectively. The average expected trading cost is $0.0863.

For 2027, the IoTeX price prediction is as follows:

The minimum IOTX price might drop to $0.1220, while its maximum can reach $0.1445. The average trading cost will be around $0.1254.

For 2028, the IoTeX price prediction is as follows:

The maximum and minimum IOTX prices are expected to be $0.2136 and $0.1720, respectively. On average, it will be traded at $0.1770.

For 2029, the IoTeX price prediction is as follows:

The estimated average IOTX price will be around $0.2474. It might drop to a minimum of $0.2403, but it could also reach $0.2962.

For 2030, the IoTeX price prediction is as follows:

IOTX will be traded between $0.3613 and $0.4233. Its average cost is expected to be around $0.3737.

IoTeX's use case and tokenomics

IoTeX is a blockchain platform designed to enable efficient, secure, and scalable machine-to-machine interactions. It has attracted significant investment from leading VC firms and crypto funds and has partnered with major companies in the IoT space. The IOTX token is the native cryptocurrency of the IoTeX blockchain, serving a similar role to Ether (ETH) in the Ethereum blockchain.

IoTeX's use case:

IoTeX aims to be a decentralised ecosystem of devices, people, and applications. It is designed to enable machine-to-machine interactions and allow people to own their devices and data. IoTeX's blockchain is built to support smart contracts and decentralised applications (dApps), with a focus on the Internet of Things (IoT) industry. IoTeX's blockchain is also designed to be modular, allowing for customisation and scalability.

IoTeX's tokenomics:

The IOTX token is used as a medium of exchange within the IoTeX ecosystem. It is required to pay for transaction fees, known as "gas", similar to Ethereum's fee structure. These transaction fees, along with donations, go into a Reward Pool, which is used to compensate network nodes for validating, executing, and recording transactions on the blockchain. The size of the fee corresponds to the computational effort required for the transaction, helping to prevent network abuse.

The IOTX token also plays a crucial role in maintaining the crypto-economic security of the IoTeX network:

• Rewards: IOTX is used to reward nodes for successfully proposing new blocks and identifying fraudulent activities.
• Staking by Validators: Validator nodes stake IOTX as a form of commitment and collateral, safeguarding the network against dishonest behaviours.
• Delegate Election: IOTX is used by token holders for staking and voting for delegates, maintaining decentralised governance and network security.
• Burn-Drop Mechanism: When a new IoT device is registered on the IoTeX blockchain, a specified number of tokens are burned, and an equivalent amount is airdropped to stakers, reducing the total supply and rewarding active participants.

IoTeX also supports the creation and deployment of decentralised identities (DIDs) and verifiable credentials, enabling self-sovereign identities and secure data sharing. The IoTeX ecosystem includes over 500 projects in DePIN, NFT, DeFi, and GameFi.

IoTeX's competitors and their advantages

IoTeX has several competitors in the blockchain and IoT space, each with its own unique advantages and features. Here are some of the key competitors:

• IOTA: IOTA is a well-known competitor to IoTeX, with a focus on the Internet of Things (IoT). IOTA's main advantage is its scalability, which allows it to handle a large number of transactions without overloading the blockchain. IOTA also has a history of high valuations, reaching $15 billion at its peak in 2017/2018. However, it has struggled to deliver on some of its promises, and its performance in recent years has been lacklustre.
• Peaq: peaq is a blockchain company that helps build decentralised applications (dApps) and decentralised physical infrastructure networks (DePINs). It allows users to build and deploy dApps quickly and efficiently.
• Lava Network: Lava Network is a blockchain solution provider, offering infrastructure for institutional applications. It develops a decentralised infrastructure that enables secure and efficient transactions.
• Hivello: Hivello focuses on web3 and IoT sectors, offering a mining service for web3 projects. Users can earn web3 tokens by contributing their computing power to these projects.
• Kalima Blockchain: Kalima Blockchain is an IoT-focused ecosystem, fuelled by the Kelax (KLX) token. It allows enterprises, developers, and startups to build Web3 enterprise and data governance applications, leveraging IoT data to solve real-world problems.
• ChainLink: ChainLink brings oracle technology to the blockchain, enabling the creation and operation of decentralised inputs/outputs. It has collaborated with IoTeX in the past, combining ChainLink's historical data with IoTeX's real-world data to enrich smart contracts.
• Synadia: Synadia provides a blockchain-based connectivity solution for IoT, offering a decentralised identity, permissioning, and micropayment solution for messaging services between IoT programs, devices, and machines.

While IoTeX has unique features and a strong value proposition, it's important to consider the competitive landscape and the advantages offered by rival platforms when evaluating its investment potential.

IoTeX's historical price performance

IoTeX's price has been volatile since its launch in 2019.

In April 2022, the IOTX coin lost 38% of its value, falling to $0.071. However, in November 2021, the price of IoTeX more than doubled, peaking at an all-time high of around $0.26. During that month, it was also launched on NOWPayments, a gateway designed to help businesses accept cryptocurrency payments.

In August 2024, the IoTeX price was $0.034524, and it was expected to decrease by 4.76% by 12 August 2024. The IoTeX price prediction for 2025 is between $0.048565 and $0.214195.

IoTeX's price has been influenced by various factors, including announcements from the IoTeX team, such as the introduction of a new NFT and the multichain capabilities of its ioPay 2.0 wallet. Additionally, IoTeX's partnerships with companies like Chainlink and Ankr have also impacted its price.

The IoTeX blockchain aims to provide infrastructure to process the vast amount of data expected to flow through IoT devices, and its native token, IOTX, is used to pay for transactions, staking, and governance. IoTeX's unique features, such as its focus on data privacy and security, have contributed to its price performance over the years.

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