IOTX is a native cryptocurrency of IoTex, a platform that integrates digital and physical worlds. Its price is around $0.124 as of the end of April, down 38% from its December 9 high. On March 21, IoTeX announced a $100 million ecosystem fund and the launch of ioPay 2.0, a multichain wallet. Then on 31 March, IOTX rose by 53%, or to $0.114. This was the highest price IOTX has reached in a day.
IoTeX is a fast-growing cryptocurrency. In October of 2021, the number of active users had increased five times in less than a month. In early November of that year, the IoTeX token was ranked second in 24-hour trading volume on Coinbase, ahead of ether and bitcoin.
The price of IOTX is expected to increase over the next two years. It could reach a high of $0.139986 in 2026 and a low of $0.19998 in 2027. This means that the price of IOTX may fall to a minimum of $0.19998 or as low as $0.239976. It is unclear if this will be the case, but it is a plausible scenario.
There are a lot of fundamental factors that impact the price of IoTeX. While it is not completely determined by these factors, it is largely dependent on these factors. To begin with, the value of IoTeX is based on tokenomics, a deflationary model where tokens are fed to stakers through rounds of “burn drops” (repeated supply of tokens by stakeholders).
The IoTeX price has dropped in the last 24 hours, and is currently trading in a range between $0.045 and $0.035. However, IoTeX is up against strong resistance at $0.045, backed by a triple top pattern. Its price may rise higher than $0.045, but it needs more support before it can break out of this range.
IoTeX is a decentralized digital currency that runs on a blockchain. It implements the Delegated Proof-of-Stake (DPoS) consensus algorithm. Voters elect block producers, and they receive rewards for their work. It is listed on many exchanges and is traded against BTC, EUR, and GBP. The currency can be stored in a wallet such as the ioPay wallet, or any ERC20 compatible wallet.
While IoTeX has been on the market since February, it has yet to hit the big time. The Pebble Tracker is currently in the backer ecosystem. Second and third shipments of the device are scheduled for release in the near future. The launch of the Pebble Tracker is expected to lead to a spike in IoTeX coin prices, which will likely lead to a steep resistance level.