IoTeX could easily pass as the backbone of the Internet of Things (IoT), which includes autonomous vehicles and machine economics in general. IOTX coin is the currency that governs the existing blockchain protocol. Since its launch, IoTeX has gradually gained popularity, with the price of its coin growing almost every day.
Starting as an open-source project in 2017, IoTeX has developed a decentralized platform that aims to be an open network where people and machines can interact with assured trust while getting properly designed economic rewards. While the foreseeable price of the IOTX is hard to predict, based on previous trends and artificial intelligence, we can get IoTeX price prediction for 2022 and beyond.
IoTeX Price Prediction: Introduction
As of this writing, IoTeX is trading at $0.07034 on CMC, implying a percentage increase of 3.49% within 24-hours. Its trading volume within the last 24 hours was $22,982,620. This implies a 32.97% increase.
IOTX coin price appears to be on an upward trend, having increased by 14.09% in the last seven days. Currently, IOTX cryptocurrency holds the 85th slot among the top 100 cryptocurrencies on CoinMarketCap, with a market capitalization of $1,114,273,631.75.
In this article, we take you through IoTeX price prediction for 2022. Is IoTeX a good investment for the long-term or short-term? What does the future of the IOTX coin look like? You can get the answers to these questions in our technical analysis and market opinions regarding IoTeX.
IoTeX Price Prediction: Technical Analysis
This section of IoTeX price prediction gives readers a grasp of the technical analysis of IoTeX based on its past performance towards the end of 2021 and in the recent past. Within the past month, the IoTeX price slumped by -27.98%, leading to a drop of $0.0045 in its overall value.
That sharp decrease created a window for investors who wanted to invest in the coin. However, as shown by the TechNewsLeader price index, the IOTX coin has been experiencing growth in the last quarter of 2021. For instance, on August 11, the IOTX coin price peaked at $0.11 before slumping to $0.07 at the beginning of September.
Even so, the coin reverted to a growing trend that saw it gain its ATH on November 4, at $0.28. Within the past four months, its trading volume has increased, fueling its price further upwards. During this period, the price of the coin increased by 47.60%, with the maximum price standing at $0.053.
IoTeX Growth Indicators
According to Capital.com, several factors contribute to IoTeX growth. For instance, in November 2021, IoTeX announced its Pebble Tracker device, which would facilitate the building of several decentralized applications (DApps) while collecting data that would otherwise be used by third parties. This new development fueled the price to its all-time high on November 4.
Later in November, IoTeX and Chainlink agreed on a merger deal that would see the two projects running together. This collaboration aimed to boost smart contracts. On November 5, IoTeX announced that they would be launching their MachineFi project, which aimed to make computers self-sovereign.
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After these announcements, IoTeX continued to publicize several other projects that would follow their collaboration. These activities whet the appetite of investors who would like to have a share of the growing entities. According to Swap Space IoTeX price prediction, IOTX price is likely to increase to $0.232 in 2022.
Supporting Tables and Images
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Twitter Image: https://twitter.com/RixxTech/status/1483314524509908997
Twitter Image: https://twitter.com/DCA_Cryptoz/status/1483347205628907528
IoTeX Price Prediction: Market Opinions
With several collaborations and innovative projects, IoTeX has weathered the challenges that come its way. Consequently, IOTX price has experienced an upward trend in the past few months. Crypto pundits believe that this trend could continue throughout this year and into 2023 and beyond.
The following are some of the market opinions regarding IOTX coin from different price prediction sites and market influencers:
According to Price Prediction’s IoTeX price prediction for January 2022, the coin is expected to reach an average monthly limit of $0.12. The company also expects the IOTX coin to trade between $0.12 (maximum) and $0.11 (minimum).
Similarly, Crowd Wisdom expects the IOTX price to go above an average price level of $0.18. The company puts a minimum price value of IoTeX at $0.17 by the end of the current year. It expects IOTX to reach a maximum price level of $0.19 at the end of 2022.
According to WalletInvestor, IoTeX is currently on an upward trend. The IOTX price is expected to increase from $0.112 to $0.232 in one year. The following table explains the company’s 30-day expectations regarding IOTX:
IoTeX forecast for the upcoming days.
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Opinions from Crypto Market Experts and Influencers
According to Techtimes.com, the popularity of IoTeX is now visible even on social platforms, as shown by its growing Twitter followers. By November 2021, IoTeX had gained 196,000 followers, while its YouTube subscription numbers also surged significantly. This could give the IOTX price a fillip.
Similarly, through its MachineFi venture, several investors have joined the IoTeX network. As said by Art Malkov, IoTex Head of Growth, “Using blockchain and Web3, the IoTeX team will ensure that these billions of machines provide value control and opportunity to everyday people in businesses, not centralized corporations.”
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IoTeX Price Prediction: FAQ
Q: Is IoTeX a Good Investment?
A: From the predictions by several trusted sources, we can conclude that IoTeX is a worthwhile investment. It has a high chance of yielding good returns in the future.
Q: What Is IoTeX Price Prediction 2025?
A: By 2025, the price of IOTX is expected to have a minimum price value of $0.52 and a maximum of $0.62, averaging $0.53.
Q: What Is IoTeX Price Prediction 2030?
A: By 2030, IOTX price is expected to attain a minimum of $3.68 and a max of $4.37, averaging $3.81.
Overall, IoTeX appears to be destined for greater heights if its current performance is anything to go by. A few days ago, Sumotex became the first investment company to launch its project on IoTeX. Through this project, IoTeX aims to connect cryptocurrencies with the traditional private equity firm. With this development and partnerships with other stakeholders, the price of IOTX could increase even further.
Featured image: iotex.io