Iotex (IOTX) Coin Price Prediction – 2022, 2025, 2030
IOTX like many crypto projects that held so much promise in the past experienced a downtrend in June 2022. As technology evolves in recent times, the need to create an intersection between the digital world and the physical world increases. However, due to the very versatile nature of technology and the internet, competition in this particular sector increases. The battle becomes who can present and market better in most cases than which project can be more efficient.
That’s why many believe that IOTX’s successes are just hype and that their use case is not as versatile and well Integrated into the world they’re trying to represent.
We have gone through all the indications that might prove these assertions true or false. Is IOTX as futuristic as they present to us, or is it not going to survive in the long run? Is it a good investment for the long term? How tangible is their future roadmap and what are the price forecasts for the token?
What is IoTeX (IOTX) – The Coin For The Machine Economy?
IoTeX is the privacy-centric and decentralized blockchain network that’s pushing the narrative of individual data control and democratization, device automation, and integration of the digital network, metaverse, and the physical world. They’re building a system that allows the interaction of machines and market participants while developing easier and faster methods for privacy preservation and front-running the advent of blockchain 3.0.
IOTX (Internet Of Things) is the native token of the IoTeX network that was created on the idea of data security and control. One of the many issues of the internet is that tracking of information is rampant, which many individuals consider to be a breach of their privacy and control. IOTX is set to serve as a platform that provides the users a control over the inflow and outflow of data from their devices. This signifies that they’re allowed to control what happens to their personal information while capitalizing on it.
The team behind the creation of this technology is highly skilled and versatile in machine and intelligent learning, distributed systems, device automation, and engineering. It was founded by Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun. This is to prove that although the mechanisms of the token operation are complex, the Roll Delegated Proof-of-Stake (DPoS) consensus mechanism used by tokens like IOTA, VET, HNT, etc; that the team is experienced to handle the protocol.
Presently, the top cryptocurrency exchanges for IOTX are Binance, Upbit, Xtheta Global, Lbank, Huobi Global, Kucoin, HBTC, and Mexc.
IoTex (IOTX) Mechanism Of Operation
To understand the potential of IOTX, one has to know its mode of operation and model structure. However, from most indications, IOTX appears to be a token that’s heavily influenced fundamentally due to all the activities played by its leading team to keep up the momentum in the project. The IOTX token is built on a deflationary model which means that the supply of IOTX will decrease over time as more devices and more devices enter the network. This means the value of IOTX continually increases as long as the demand for it remains consistent. Also “burn drops’ ‘ are sent to IOTX stakes as more participants join the ecosystem.
The first burn drop was on the 3rd of November 2021, this activity led to a huge pump in the price level of IOTX which spiked more than 100% in a day. The value of the coin rose from $0.07817 to about $0.1650 that very day. This was the largest pump in the ecosystem since its inception in 2018. However, after the price peak at that level, the price spiraled downwards, losing about 50% in the coming months and by February 2022, IOTX was below its initial price level before the spike.
This is to prove that the dynamics of IOTX function over time are deeply dependent on on-chain activities and events, and further shows that IOTX might be a heavily manipulated token. But technical analysis is still considered in the IOTX coin prediction to help put you in a long-term perspective.
IoTex (IOTX) Fundamental Analysis
Over the years, IOTX has made many partnerships and announcements which spiked the value of the token. Some of these events are;
- IoTex (IOTX) raised a $100m fund for ecosystem development, announced a new NFT, and released a new mainnet on March 21st, 2021.
- The wallet today 2.0, a block of infrastructure created to connect with Ethereum, BSC, and Heco blockchains, went multichain. On March 31st, 2021, the price level increased by 53% at these announcements.
- On November 1st, 2021, IoTex announced the Pebble Tracker device, an advanced device that acts as GPS backed by a decentralized network which is the IoTex network, had completed final testing and was ready for launching. This device is said to be sensitive to weather and climate changes like humidity level, temperature, vehicle acceleration, etc.
- IoTex partnered with Chainlink (LINK), a crypto ecosystem that makes use of real-world data while providing on-chain solutions, for a blockchain discussion focused on web privacy and the possibility of collaboration on November 3rd, 2021.
The IoTex team said in a press release when explaining the aspect of their partnership that
the combination of Chainlink’s historical data and IoTeX’s live real-world data makes for a powerful match for individual users and enterprises alike
The partnership between these two protocols is going to be revolutionary because it’ll allow the integration between real-world data and information tracking thereby presenting more practical use cases of dApps and IoT devices.
- IoTeX announced a project called MachineFi, created to power devices and computers while making them self-sovereign. The IoTeX ecosystem incentivizes the users that strive to keep it operational and highly secure. It’s an innovative protocol created on the 5th of November, 2021.
- Binance added IOTX as a borrowable asset meaning that users are allowed to get an IOTX loan while giving their crypto as collateral without charges.
- On the 2nd of February, 2022, Ankr, a Defi platform partnered with IoTeX to implement the use of machines in the development of a global network of web nodes. This move is to ensure the faster and easier function of MachineFi. This partnership will enable an extensive network as ANKR tokens i.e. incentives would be provided to IoTeX node operators who add their nodes to Ankr’s new publicly available Remote Procedure Call (RPC).
- On 17 February 2022, IoTeX introduced Meta-Pebble, a device that serves as a connection to IoTeX’s MachineFi portal through which its users can have access to an array of decentralized applications (dApps) that will incentivize them to grant access to the data that they generate from day to day activities like hiking, walking, eating out, etc.
- They’re looking to introduce the full launch of web 3.0 as they propose a connection between machines and IoTeX 2.0 that’ll propel them towards more decentralization.
- They have also partnered with many other organizations like Swash, the data union; Treasureland, a cross-chain NFT platform, and a unified API, Covalent.
All these partnerships have acted as an impact on the prices of IOTX for many periods and even propelled them to all-time highs.
After successful fundraising, Pebble Tracker is being sent out to hackers while the second round is prepared for shipment. This is expected to drive up the demand for IoTeX as more devices are connected to the network. The burn drops would possibly increase and lead to surges in price.
Applications Of IOTX
- IOTX ensures the safety and security of individual data while providing a means for them to gain by selling to big firms, third parties, and companies.
- It also serves as a humidity, and pressure sensor.
- It acts as a portal between the web as it bridges the real and the digital world.
- It acts as cross-chains between protocols like Ethereum and the Binance Smart Chain, and sidechains.
IoTeX (IOTX) Technical Analysis
The IOTX token was launched through an ICO (Initial Coin Offering) on the 14th of February 2018 for $0.01 per coin to investors. By the beginning of 2021, IOTX was trading at $0.006634, before rallying to an all-time high of $0.2611 in November 2021 and closing the year at $0.1217.
However, the IoTeX token (IOTX) currently trades at $0.03. In June 2022, IOTX lost close to 83% price value from its all-time highs.
According to the indicators used in the above chart, it can be deduced from the IOTX’s Moving Average (MA) that the price is 50 MA, so it’s in a downtrend. Presently, IOTX is in a bearish state. But, there is a possibility of a reversal from all indications.
Meanwhile, the relative strength index (RSI) of the IOTX is at level 42.96. This shows that the IoTeX token is in a nearly oversold area. But with the current state of the market, traders are advised to be careful.
IoTeX Price Predictions
We have curated price forecasts from several Algorithm-generated price prediction platforms that have tried projecting the future of IOTX and they claimed that;
The future price of the asset is predicted at $0.14372816175516 (86.418% ) after a year according to our prediction system. This means that if you invest $100 now, your current investment may be worth $186.418 by 2023.GovCapital
If IoTeX price flows with a tide of potential alt season in the next couple of weeks, the price would end up trading at a maximum of $0.258. With average buy and sell pressure, the price would reach $0.186. On the contrary, the price would plummet to a minimum of $0.1095 in case of an extremely bearish scenario.Coinpedia
From the price action of IoTeX’s cryptocurrency, we see it rising to around $0.14 by this time next year and believe the price could hit $0.43 by April 2027.WalletInvestor
As for IoTeX, it has a serious competitor in the crypto market, a project with a similar name, IOTA. IOTA’s main advantage, not only over IoTeX but over other projects, is its incredible scalability for the crypto market. I have a bearish outlook for this token in the long run.Capital.com
The price of IoTeX is expected to reach a minimum value of $1.47 in 2030 . The IoTeX price could reach a maximum value of $1.74 with the average trading price of $1.53 throughout 2030”.ICOcreed
IoTeX (IOTX) Price Prediction 2022
The chart in June 2022 shows a downward trend due to the huge selloffs that have been going in since the beginning of the year. However, a reversal is projected to occur that’ll peg the maximum price value at $0.25 with it still hovering close to the low levels.
IoTeX (IOTX) Price Prediction 2023
Due to the future partnerships that are expected to increase by 2023, We are expecting that a bullish trend will continue, bringing the average price to around $1. This would be more certain if IOTX breaks the current resistant level.
IoTeX (IOTX) Price Prediction 2024
More upgrades and scale-up are expected in the protocol, making the IOTX price prediction for 2024 bullish. The maximum price is projected to be $3.87 with a little boost.
IoTeX (IOTX) Price Prediction 2025
With the current market status, an extremely bearish scenario won’t be expected in a while. So in the next four years, minimum sell orders are suggested as more accumulation happens to bring it to a price value of $7.
IoTeX (IOTX) Price Prediction 2026
Long-term targets for IoTeX tokens in the prediction system are still bullish as more crypto adoption is expected. $15 is forecasted as the maximum price level that is anticipated for that year.
IoTeX (IOTX) Price Prediction 2027
We expect that interaction between real-world data and on-chain solutions would increase to allow better management of government and life affairs. But a bearish trend is detected regardless of what would put the lows at $1.07 and an average price level of $1.61.
IoTeX (IOTX) Price Prediction 2028
Another halving in the cryptocurrency market is expected in 2028 which is forecasted to cause trend reversal and peg the maximum price at $2.19, with an average price of $1.95.
IoTeX (IOTX) Price Prediction 2029
While they continue striving towards interoperability between networks and many bridges created to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been put at $1.52 and a yearly price close above $2 in 2029.
IoTeX (IOTX) Price Prediction 2030
In 2030, machine interactions are anticipated to outpace a lot of developments and full adoption is predicted too. The price is forecasted to rally above $3 with the lowest possible price pegged at $1.79. The percentage increase of IoTeX in 2030 would be bordering on 3,000% which makes it a very good and profitable investment.