The technological discoveries of blockchain and cryptocurrencies have resulted in the paradigm shift from traditional investments to one with limitless wealth-building potential.
Undoubtedly, blockchain and the innovative developments of cryptocurrencies have led to significant adoption rates of traders and investors leveraging every financial opportunity it presents. As blockchain technology and innovation continue to scale, the positive effects can be seen in the prices of utility tokens and cryptocurrencies, which rally as demand increases.
The mind-blowing and exponential price growth of cryptocurrencies in demand has left many traders and investors stunned and with a new mentality of finding the next cryptocurrency to pull a string.
Market analysts and trade experts are not left out in the search for the next cryptocurrency with a big price move and life-changing wealth potential.
This has resulted in in-depth analysis and price predictions by trade experts and market analysts on individual cryptocurrencies with positive growth potential for the future.
This article will look into IoTeX as a cryptocurrency, its history and past performance, and future price predictions by market experts and trade analysts.
What Is IoTeX (IOTX)?
IoTeX is a cryptocurrency and decentralized, scalable blockchain network built to support the interactions between individuals, decentralized applications, and smart devices based on the Internet of Things (IoT).
The IoTeX decentralized full-stack platform enables verifiable and trusted data from smart devices and compatible machines for use in decentralized applications.
IoTeX is built to be open source and features an Ethereum Virtual Machine compatible Layer 1 blockchain and a complete suite of developer and user-friendly tools for multiple interactions.
It has a smart contract functionality that supports smart contract creation and deployments on its blockchain network and also cross-chain capabilities.
The IoTeX decentralized platform network employs a blockchain-in-blockchain method with a single root block and numerous sidechains attached to it.
IoTeX decentralized open source platform functions by linking machines and individual users directly for seamless interactions and development over a scalable blockchain network.
Many blockchain ecosystem networks struggle with scalability; however, IoTeX solves scalability problems on its decentralized platform through its integrated and compatible machines allowing real-time user transactions at a relatively cheap cost.
With the usage and leverage of sidechains for task delegation, the IoTeX blockchain platform can achieve increased scalability as its sidechains are designed to perform a particular function for a particular application.
These sidechains, connected to the root block of IoTeX, can communicate with one another as needed to increase efficiency and lessen the workload on a single blockchain.
The IoTeX decentralized open-source platform features a token, IOTX, which powers network transactions and smart contracts and allows token holders to stake and take part in network governance and contribute to necessary improvements.
The IoTeX native token is also utilized as a store of value and a mode of decentralized payment across a network of cryptocurrency users and traders.
IoTeX, as a decentralized platform and framework, is compatible with Web3 technologies and applications and enables users and developers to interact and utilize standard decentralized applications such as Truffle, Metamask, and others.
All IoT-compatible user device types can register their data and activities to the blockchain using IoTeX, establishing a verifiable "single version of the truth" as the basis for trust.
This makes it possible for decentralized application builders and developers to interact directly with device users and promotes incentive-based value generation without the need for centralized intermediaries or third parties.
IoTeX seeks to provide an environment where people and machines can connect freely, without concern for security or trust, while benefiting from financial incentives because smart IoT devices have altered how people interact in the modern world.
Sharing data has become simple and rapid thanks to smart gadgets. IoTeX wants to build a platform so that people and companies may own their devices and profit from their data.
Origin And History Of IoTeX
IoTeX was introduced and launched in 2017 by co-founders Jing Sun, Qevan Guo, Raullen Chai, and Xinxin Fan to enable the Internet of Things (IoT) and a network of users and individuals to interact with secure smart devices and data.
The founding team of IoTeX, which aims to promote end-to-end trust in the Internet of Things, has extensive expertise in information security, blockchain technology, and encryption.
The IoTeX ecosystem has developed from the platform design and private sale fundraising in 2018 to the release of self-sovereign and trusted devices like Pebble Tracker in 2021.
This has allowed the ecosystem to address inherent security and privacy issues in conventional IoT systems and to enable users and developers to gain more value from their data and smart devices.
IoTeX, while delivering on the software side of technology, went a step further in adding value by providing appropriate hardware to support their vision of IoT trust.
A typical example of hardware solutions created by IoTeX is the IoTeX UCam which was launched in September 2020 as a home security camera that uses end-to-end encryption and decentralized identity to guarantee the privacy of recorded footage of individuals.
IoTeX also implemented a development board created in collaboration with Nordic Semiconductor called Pebble Tracker. It gathers data from the real world and converts it into data that may be used with blockchain technology.
What Protocol IoTeX Uses
The IoTeX network protocol functions and aids the seamless connection and interaction between smart devices and individual users through a scalable blockchain network.
Unlike most blockchain ecosystem networks which are dependent and built atop the base layer of already-existing blockchains, IoTeX’s blockchain network is an independent blockchain ecosystem built from scratch, from its IoT middleware to the unique Roll-DPoS consensus protocol it utilizes.
IoTeX blockchain network runs on a Roll- Delegated Proof of Stake consensus mechanism and protocol for throughput and scalability.
The IoTeX blockchain protocol is a highly efficient protocol that is unique and tackles the scalability issues of most blockchain networks by integrating four core components into its blockchain ecosystem network.
IoTeX core components and integration for increased efficiencies include its Roll-DPoS, Layer 2 side chains, edge computing, and cross-network communication.
The IoTeX Roll-Delegated Proof of Stake consensus mechanism and protocol is built to be a highly efficient protocol and consensus mechanism that seamlessly functions and allows the onboarding of network validators/block producers to its blockchain ecosystem.
In order to become a network validator on the IoTeX blockchain ecosystem, token holders are required to stake a certain amount of IoTeX native tokens on its protocol.
Users and token holders of IoTeX native tokens who participate in staking also have privileged access to vote and delegate network validators/block producers to validate network transactions on their behalf.
Token holders who eventually become network validators and block producers are rewarded with native tokens for adding new blocks and adequately validating network transactions on the IoTeX blockchain protocol.
Staking participants who vote and delegate network-validating rights to other users also receive incentives and share in the rewards assigned to delegates for securing and validating transactions.
Another integral component of the IoTeX blockchain protocol is its Layer 2 sidechains which provide an open architecture and framework for scalability and the addition of multiple utilities and applications based on different cryptocurrencies.
Leveraging Layer 2 sidechains, IoTeX blockchain network protocol enables edge computing, allowing it to share an economy of trust for building secure and private decentralized applications.
In addition, the IoTeX blockchain network supports cross-chain communication between subchains, enabling seamless governance and effective interactions.
This is made possible on the IoTeX blockchain network protocol through its block finality mechanism that ensures that no block, whether on the root chain or a subchain, created on the IoTeX network may be modified.
IoTeX blockchain network protocol rapidly improves interoperability while preserving the privacy and security of its network.
What Makes IoTeX Different From Other Cryptocurrencies
IoTeX is a cryptocurrency with inbuilt cross-utility and functionalities that make it scalable and highly efficient to many users and adopters.
As a cryptocurrency, it leverages its IoTeX blockchain network, unlike other cryptocurrencies built and managed on other blockchain ecosystem networks.
IoTeX runs on its scalable Roll-Delegated Proof oF Stake (DPOS) consensus mechanism known for its throughput and high scalability. It functions as a smart cryptocurrency on its platform, built to connect individuals with IoT devices and machines for increased security and data privacy.
The native cryptocurrency, IOTX, serves as a governance token on its decentralized platform, allowing its community of users and token holders to vote on improvements and make valuable contributions through constructive suggestions for its overall growth.
Token holders and users of IoTeX cryptocurrency are of an advantage as they can perform multiple interactions and high-speed transactions at low fees.
IoTeX has an abundant supply of native tokens, with its total token supply sitting at over nine billion tokens.
The total supply of IoTeX native tokens is 9,626,124,332 and is built to be deflationary in its concept and creation.
IoTeX is leveraged by many users for cheap processing of payment transactions and also a store of value with positive price growth potential.
Factors Influencing IoTeX Price Growth
IoTeX, on its decentralized platform, features a native utility cryptocurrency, IOTX. IoTeX native cryptocurrency was created to be robust in its cross-utility and applications to users and token holders, leveraging it for payments and other interactions.
Looking at the price history and performance of IOTX as a cryptocurrency, it has shown positive growth potential with its price rallies in the past.
However, there are several factors that either scale the price growth of IOTX positively or negatively impact its price potential in the future.
The elements and factors that influence the price growth of IoTeX as a cryptocurrency, either positively or negatively, are not unique to its native token alone. These price growth influencers are peculiar to the broad spectrum of cryptocurrencies and digital tokens in the cryptocurrency markets.
Some of the major price growth factors and influencers can be seen listed and explained below;
Demand And Token Supply
Every cryptocurrency's price and growth potential are significantly influenced and driven by forces of supply and user demand.
A strong demand for utility cryptocurrencies such as IoTeX can ultimately drive growth and positive price reflection.
The tokenomics and token supply of IoTeX is yet another huge influencer of its potential growth and the prices it can attain in the future.
A low token supply of a cryptocurrency translates to it being scarce and limited in nature and may result in its price rallying spontaneously when high demand occurs.
On the hand, an abundant token supply of a cryptocurrency with no deflationary mechanism may inhibit its overall price growth and the price levels it can attain in the future.
IoTeX, as a cryptocurrency, has an abundant supply of tokens available to the vast community of crypto users and investors.
Although IoTeX has an abundance of token supply, it has shown massive price potential in the past as a result of strong community backing and its deflationary token mechanisms.
The factors of demand and supply affecting a cryptocurrency's price growth potential cannot be overemphasized, as they are major determinants of a cryptocurrency's price direction and growth potential.
The effects of poor and low demand can be seen in bearish markets and cycles where market sentiments are negative, and most investors pull out.
IoTeX and other cryptocurrencies are suffering from the effects of low demand due to a bear market, as prices have experienced a shocking decline.
Investors and traders may consider a cryptocurrency's demand and supply before making investment decisions.
Use Case
A cryptocurrency's utility and use cases, like those of IoTeX, are crucial to its success and price growth potential.
A utility cryptocurrency with multiple use cases and applications can become popular and widely utilized by users and investors just by its innovative solutions.
This drives its potential price increase and volume of demand from users leveraging its real-world applications and everyday use cases.
IoTeX is a cryptocurrency with a wide range of use cases and functionalities in the real world and the Internet of Things (IoT).
IoTeX usability and cross-applications appeal to a variety of users and a wide range of investors who contribute to its platform growth and positive price reflection.
A cryptocurrency and digital asset's use cases and applications may be used as a benchmark for making investment and trade decisions, but this is left to traders and investors to choose.
Strategic Partnerships And Vision
The core goals, visions, and roadmaps a cryptocurrency is built to achieve can impact its user growth and adoption and drive demand for it.
Cryptocurrency projects such as IoTeX have a realistic and achievable roadmap and vision that set them apart and increase user demand.
As it achieves its project milestones and visions, IoTeX builds the confidence of users and investors who may make multiple interactions and big investments in its native cryptocurrency, IOTX.
IoTeX's strategic and recent partnerships with the cyber security organization "Hacken" for blockchain security and privacy are among the many smart innovations and IoTeX partnerships that excite its community of users and investors in driving demand and investment into its native cryptocurrency.
Strategic partnerships and a clear vision of a cryptocurrency with achievable milestones are essential growth influencers that aid recognition and relevance and increase the adoption rates and positive price potential of every cryptocurrency and digital asset.
IoTeX Price Performance In The Past
The IoTeX native cryptocurrency, IOTX, traded at $0.00125 at its debut and initial coin offering in the cryptocurrency markets on May 25, 2018. It briefly rose and rallied to $0.068 on June 1, 2018, in response to its listing on major exchanges before entering a bearish trend.
IOTX continued in its downward movements and price declines due to a bear market that lasted until 2020.
The general cryptocurrency markets began to recover in what seemed to be a bullish price reversal and indicator of the start of a bull market towards the end of 2020.
The prices of IOTX experienced positive momentum and rallied to a high of $0.078 in January 2021.
After reaching this high, the prices of IOTX fell and started to trade in rangebound movements.
IOTX then continued in its rangebound movements with only occasional small price pumps until it fell significantly after the global cryptocurrency markets experienced a huge crash.
Due to the crypto crash, most cryptocurrencies, including IOTX, dropped over fifty percent in price value.
IOTX recovered and maintained its price range after bouncing off a little from the crypto market crash. Surprisingly, IOTX picked up bullish momentum again and rose to an all-time high of $0.26 in November 2021.
IOTX then retraced in price value and fell further from its all-time high when bearish sentiments entered the cryptocurrency markets.
On a general note in the cryptocurrency markets, 2022 saw the full effects of a bearish market which affected cryptocurrencies, including IOTX falling in price value close to all-time lows.
At the time of writing, the price of IOTX trades at $0.02287, a significant drop from its all-time high and price peak.
In summary, the top-performing year for IoTeX was in November 2021, when the price of IOTX shot up by 1,796.00% from its all-time lows.
In the event the crypto markets recover from the bear cycle and signal the start of a bull market, IOTX is a utility cryptocurrency that may likely recover and follow the herd of cryptocurrencies rallying in price value and momentum.
How Is IoTeX Doing Now?
IoTeX currently shows signs of price recovery as it has maintained its price range despite negative market sentiments and a bearish market.
IoTeX native cryptocurrency, IOTX, is currently trading at $0.0283, a slight price increase from its lows in November 2022.
IoTeX Price Prediction Today
IoTeX native cryptocurrency is seen to trade at a 24-hour low of $0.0235 and currently trades at $0.0283 at the time of writing. IoTeX reached a 24-hour high of $0.02409 before it dropped in price.
Crypto experts and market analysts have come up with IoTeX price predictions for today, December 7, 2022, and expect IoTeX(IOTX) to trade between $0.020 and $0.02245.
IoTeX Price Prediction For January 2023
IoTeX price prediction for the first week of January 2023, as predicted by crypto experts and analysts, can be seen in the table below.
Investors and traders are advised to conduct due diligence on cryptocurrencies such as IoTeX before making considerable investments and trade decisions.
IoTeX Price predictions from crypto trade experts and market research analysts are subject to change and constant review due to changes in market sentiments.
Short-Term IoTeX Price Prediction For 2022
The short term and general IoTeX price prediction for the month of December 2022 is shown in the table below.
These IoTeX price predictions are speculative forecasts subject to change and may not be a general reflection of IoTeX prices due to daily changes in market sentiments.
Long-Term IoTeX Price Prediction For 2023
IoTeX (IOTX) has experienced significant price declines in the months of 2022 due to negative market sentiments and a bearish market.
However, 2023 is fast approaching and may present opportunities for bullish sentiments and a potential bull market that will correct the prices of many cryptocurrencies, including IoTeX.
The table below highlights IoTeX price predictions for the months of 2023 curated by market analysts and trade experts.
These IoTeX price predictions are subject to change and review based on market sentiments in the months of 2023 and should not be used solely for making trade and investment decisions.
Long-Term IoTeX Price Prediction For 2023 - 2030
Many traders and investors have ventured into the speculative quest of IoTeX price predictions for the long term.
Their expert knowledge and applications of technical analysis enable them to make a sound analysis of the cryptocurrency markets and price forecasts.
The table below highlights IoTeX price predictions on the long-term horizon for 2023 leading up to 2030.
Long-Term IoTeX Price Prediction By Experts
Crypto market experts and price analysts apply their understanding of fundamental and technical analysis to assist them to predict future prices of cryptocurrencies, including IoTeX (IOTX).
Looking at several market analysts and trade experts' predictions, the IoTeX price predictions for the short and long-term outlook are bullish and optimistic.
However, while making investment and trade decisions, traders and investors are recommended to do their due diligence on individual cryptocurrencies, practice effective risk management, and not rely exclusively on forecasts and price predictions provided by market analysts.
The skill of technical analysis can be developed and harnessed by traders, who will profit from the knowledge and applications and be able to make good investment decisions.
IoTeX Price Forecasts By Price Prediction
Crypto experts and market analysts at Price Prediction have a bullish outlook on the potential future prices of IoTeX (IOTX)
According to technical analysis carried out by cryptocurrency trade experts at Price Prediction, the prices of IoTeX from 2022-2027 is expected to trade at a minimum price of $0.026, an average price of $0.091, and a maximum price of $0.18 in 2027.
IoTeX Price Prediction By Changelly
Market analysts and price trade experts at Changelly has recorded bullish sentiments regarding IoTeX predictions both in the short and long term.
In the short term, IoTeX is expected to be trading at a maximum price of $0.0259 at the end of December 2022.
Changelly trade experts have also published a long-term IOTX coin price prediction on their platform.
Changelly long-term predictions see the prices of IoTeX trading at a minimum price of $0.429, an average price of $0.449, and a maximum price of $0.539 in 2030.
IoTeX Price Prediction By Coincodex
Market analysts at Coinodex has compiled IoTeX price predictions for both short and long-term time periods.
According to their IoTeX price predictions, its native token is expected to trade at a minimum price of $0.0701 and a maximum price of $0.364 in 2025.
In the short term, their IOTX crypto price predictions see the token trading at a minimum price of $0.0428 and a maximum price of $0.0741 in 2023.
IoTeX Price Prediction By Digital Coin Price
According to market analysts at Digital Coin Price, after an in-depth analysis of IoTeX price history, they expect IOTX to trade at a minimum price of $0.0489, an average price of $0.0556 and a maximum price of $0.0592 in 2023.
IoTeX Price Prediction By Margex
Experts from the Margex exchange have reviewed the use case and IOTX price action in the past and have come to a reasonable conclusion that IOTX will do well when the crypto market regains its bullish price movement.
Margex does not give financial advice on investment as the crypto market is highly volatile; it would be ideal to do your research and only invest what you can let go.
Margex also provides a unique staking feature that allows traders and investors to earn up to 13% APY return in this bearish crypto run. All rewards are sent to your staking balance, and there is no lockup period.
Frequently Asked Questions On IoTeX Price Prediction
Will IoTeX (IOTX) Reach $100?
IoTeX has demonstrated significant zest in its price history and performance, but due to the current bear market and negative sentiments, it has experienced a decline in its price movements.
However, IoTeX native cryptocurrency future prices, both for short and long-term periods, have been predicted by numerous trade experts, but they come nowhere close to $100.
The highest maximum IoTeX price predictions by crypto trade experts see it trading at $0.54 in 2030.
Factors such as token supply and volume of demand need to be considered by traders and investors in determining a cryptocurrency's price potential and future growth.
What Will IoTeX (IOTX) Be Worth In 2025?
The prices of IOTX provided by market analysts for future periods, such as in 2025, are purely speculative price predictions and may not reflect actual prices in that year.
IOTX's potential for price increase as a cryptocurrency depends on several variables, including market cycles, market sentiment, and demand volume.
Users and investors in cryptocurrencies who want to make long-term investments in IoTeX may need to do their research and due diligence on the IoTeX project.
It is highly beneficial for traders and investors to have a solid understanding of the technical analysis of cryptocurrencies because it can aid in making good investment and trade decisions.
What Will IoTeX (IOTX) Be Worth In 2030?
Depending on market sentiments, trend cycles, and the volume of demand for IoTeX native tokens in 2030, the price value of IOTX may be trading positively or negatively.
IoTeX price predictions from trade experts are price speculations that might not come true or accurately reflect the market prices of IOTX in 2030.
Traders and investors are highly encouraged to undertake personal research and educate themselves on technical analysis and its applications to support investment decisions.
What will IoTeX (IOTX) Be Worth In 5 years?
Future IoTeX price predictions provided by crypto experts and price analysts should be taken lightly as they are just speculative price estimates and forecasts that might not match the actual trading prices of IoTeX native tokens five years from today.
Price predictions and forecasts of cryptocurrencies such as IoTeX should not be utilized as the foundation for investment and trade decisions.
For traders and investors wishing to invest in cryptocurrencies like IOTX, due diligence into its project and cryptocurrency and the application of technical analysis are essential.
Does IoTeX (IOTX) Crypto Have A Future?
IoTeX, as a cryptocurrency project and blockchain ecosystem, has a robust utility and application in connecting individuals and IoT smart devices for complete security, data privacy, and ownership.
IoTeX has a growing number of community users and adopters, scaling its growth and development and the volume of demand for its native cryptocurrency.
IoTeX key and innovative applications and utility strategically position its platform and native cryptocurrency for increased growth and a secure future in the cryptocurrency and blockchain industry.
How High Can IoTeX (IOTX) Get?
Looking at the price history and past performance, IoTeX (IOTX) has demonstrated enormous price growth potential and a proven bullish record.
However, some critical market factors must be considered in evaluating how high IoTeX can get in price value and growth potential.
Various market elements and factors, such as token supply and demand and market sentiments, influence the price growth potential of IoTeX.
Traders and investors may need to put these factors into consideration when analyzing and conducting personal research and due diligence into IoTeX (IOTX).
