- IoTeX has been up 36.59% in the last 24 hours.
- It enabled EVM-based Dapps to grow without worrying about gas costs.
IoTeX, headquartered in Singapore, hopes to dig into the enormous market for “smart” gadgets with its secure blockchain network. The IoTeX concept relies on the gadgets’ massive quantities of data as businesses and governments profit from them.
If consumers want to provide data with these organizations, its blockchain technology will allow them to monetize such data. IoTeX (IOTX) had a market value of about $42m till January. However, many favourable events have caused the value to skyrocket in recent weeks, resulting in large profits for investors.
In 2017, IoTeX launched as an open-source project to enable open economics for machines – an open environment where humans and machines may interact with assured trust, free will, and correctly structured economic incentives.
With the ioPay wallet and ioTube bridge, the team has developed the necessary infrastructure to link with Ethereum, BSC, and Heco blockchains, serving thousands of users. It enabled EVM-based Dapps to grow without worrying about gas costs.
Price Surge Due to Rise in Demand
On top of the IoTeX blockchain, middleware like Decentralized Identity, Confidential Computing, and Secure Hardware allow self-sovereign devices like Ucam and real-world oracles like Pebble.
As demand surged, the IOTX token’s price burst through critical resistance levels with ease. Buying volume has increased dramatically since the bullish surge started. According to CoinMarketCap, IoTeX price today is $0.069999 USD with a staggering over 900% rise in 24-hour trading volume, which currently stood at $383,534,357 USD. IoTeX has been up 36.59% in the last 24 hours. It indicates prices are increasing rapidly.