IoTeX is in the process of constructing the next generation of the internet - the Internet of Things (IoT). The IoTeX network is open-source and can provide scalability, privacy, and interoperability solutions for connected devices.
It offers its own developer tools to enable the development of IOTX-powered dApps. It is also Ethereum Virtual Machine (EVM) compatible, making it simple for Ethereum developers to migrate contracts without having to rebuild them from the ground up.
The IoTeX blockchain is a Proof-of-Stake system that enables users to earn rewards for their contributions to the network, which are then distributed based on the amount of stake that each user has in the system. IOTX holders can also vote for delegates who help ensure network security. Lastly, IOTX currency transaction fees within the IoTeX network.
On 3 November 2021, IOTX performed its first burn drop, preempting a massive rise in the value of IOTX, which rose from $0.07817 to $0.1659 in a day – a 112 percent bull run. This was the first time the token had shown any enthusiasm since its early 2018 initial coin offering (ICO).
At the moment, the price of IOTX is around $0.0283, with a market capitalization of $269 million. The token is down by over 89% from its all-time high. About 9.54 billion IOTX tokens are currently in circulation - 95% of the total supply.
#1 Digital Coin Price DigitalCoinPrice has given an average IOTX price forecast as the website believes the IOTX will develop in the long term. For 2022, the average IOTX price is expected to be around $0.0342. The site also predicts that IOTX will reach an average price of $0.13 by 2030.
#2 Trading Beast Tradingbeasts’ predictions suggest IOTX could reach $0.0410897 in December 2022. Also, the price is expected to reach $0.0406140 in January 2023 and $0.0406140 by the end of 2025.
#3 Wallet Investor The IOTX coin price prediction at WalletInvestor is bullish. The forecaster’s 12-month price target of $0.091 – if proved correct – would bring a 167% return at current prices, while its five-year target of $0.31 is still more enthusiastic.
2022 IOTX is expected to reach a minimum of $0.031, an average of $0.033, and a maximum of $0.036. 2025 IOTX is expected to reach a maximum of $0.11, an average of $0.098 and a minimum of $0.095. 2030 IOTX is expected to reach a minimum of $0.58, an average of $0.60, and a maximum of $0.73.
IOTX is a project with a lot of potentials. It has a strong team and further partnerships. The technology is sound, and they are constantly improving it. The mainnet is live, and they are working on adoption. The downside is that the crypto market is very competitive, and adoption will be difficult. They also have a lot of competition from projects with more established communities.