IoTeX Overview
IoTeX (IOTX) has been on the crypto scene for a few years but only started capturing investors’ interest in 2021. It begs the question, how much can IoTeX be worth? Well, before we dive into our IoTeX price predictions, let’s summarise why IoTeX is a top investment.
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In the recent bull market, almost every crypto asset rallied upwards making it hard to calculate IoTeX’s true value. So, what is IoTeX expected to reach? Here are some of the highs of our IoTeX price prediction.
According to our long-term price prediction, the price of IoTeX will reach $0.24 by the end of 2022, rising to $0.71 by the end of 2023 and $0.96 by the end of 2025. IoTeX value will then rise to $1.98 in 2027, and $2.68 in 2030.
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IOTX — The Coin For The Machine Economy
IoTeX aims to build ‘the Internet of Trusted Things’ where ‘things’ such as humans, machines, businesses, and apps can communicate and share information on a decentralised network — the IoTeX Network. The IOTX token is used as fuel for the network to function.
After initially launching as an ERC-20 token on the Ethereum (ETH) network, IoTeX launched its own blockchain in 2019 and also works on top of the Binance Smart Chain. IoTeX has a maximum supply of 10,000,000,000 and has up to 18 decimal places.
Some of IoTeX’s rivals include:
What’s The Point Of IoTeX?
The point of IoTeX is to allow machines to interact with other network participants — essentially creating a ‘machine economy’ for the Internet of Things (IoT). What this means is that machines connected to the IoT, such as smart homes and cars, could interact with other machines and automate processes, such as paying for utility bills.
Some of IoTeX’s benefits include:
- Delegated proof-of-stake as opposed to a DAG as used by its biggest rival IOTA.
- Focus on human to machine communication, not just machine to machine.
- Focus on decentralising the IoT to protect users’ privacy, security and prevent data mining.
- Utilises cross-chains (Ethereum and the Binance Smart Chain) and sidechains.
- Aims to build a blockchain network of blockchains where one is responsible for security and governance and all others work on top.
Who Is Behind IoTeX?
IoTeX was co-founded by Raullen Chai, Qevan Guo, and Jing Sun. Between them, they have worked for Uber, Bosch, Polychain Capital, and Facebook, to cherry-pick just a few. As a platform, IoTeX was launched in 2017 but didn’t launch its token, IOTX, until 2018.
What Is IoTeX Used For?
IoTeX is most similar to IOTA which also plans to create a cryptocurrency to fuel the IoT, however, what distinguishes them is that while IoTeX utilises blockchain technology, IOTA uses a DAG (Directed Acyclic Graph) which for some crypto investors is not as efficient or as practical.
Working on three interconnected blockchains (IoTeX, Ethereum, and the Binance Smart Chain), IoTeX uses a delegated proof-of-stake consensus mechanism to secure transactions. This means IOTX cannot be mined but is instead created through staking.
IoTeX is also compatible with the Ethereum Virtual Machine (EVM) which allows it to make more complex smart contracts.
Who Uses IoTeX?
IoTeX dramatically rose more than 120% when it announced partnerships with Travala.com and NOWPayments via Twitter which would enable the use of the IOTX token on their platforms.
There are 17,873 holders on the Ethereum blockchain, 4,113 on the IoTeX blockchain, and 35,428 on the Binance Smart Chain. Do note that some holders may have IOTX on more than one blockchain.
Technical Analysis Of IoTeX’s (IOTX) Price Movements
The IOTX token was first available to investors via an ICO (initial coin offering) on the 14th of February 2018 at a price of $0.01 per coin. CoinMarketCap then first started tracking the price of $0.0294 on the 26th of May 2018 (three days after coins were issued).
At the start of 2021, IoTeX traded at $0.006634, reached an all-time high of $0.2611 on the 13th of November, and ended the year at $0.1217. IoTeX’s 52-week low is $0.01289, and the all-time low is $0.001239, which was reached on the 13th of March 2020.
IoTeX Price Chart
IoTex IOTX/USD price chart. Source: Coinmarketcap
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Expert’s Take On IoTeX Price Predictions
All in all, expert IoTeX price predictions across the web are positive.
CryptoGround: “As per the forecast and algorithmic analysis, [the] price of 1 IoTeX Network (IOTX) will be around $0.3364 in 2027”.
Trading Beasts: “In March 2023, the IoTeX price is forecasted to be on average $0.1029400. The expected maximum price is $0.1286750, minimum price $0.0874990”.
Price Prediction: “The price of 1 IoTeX is expected to reach [a] minimum level of $0.29 in 2025. The IOTX price can reach a maximum level of $0.35 with the average price of $0.30 throughout 2025”.
WalletInvestor: “Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-03-13 is 0.488 US Dollars. With a 5-year investment, the revenue is expected to be around +559.46%. Your current $100 investment may be up to $659.46 in 2027”.
DigitalCoinPrice: “A minimum value of $0.13 is predicted for the price of IoTeX in December 2025. IOTX may reach a maximum value of $0.18 in 2025 with an average trading price of $0.18”.
Gov Capital: “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 invested $100 now, your current investment may be worth $186.418 on 2023 March 16, Thursday”.
ICOcreed: “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”.
Coinskid: “Our Forecast System predicts that IoTeX could possibly increase in value in the short term by +17% to $0.0867 from $0.0739. The system forecasts a +0% move from $0.0739 to $0.0741 over the next month, IoTeX has a price prediction of $0.0736 in over a [years’] time”.
Coinpedia (2023): “If IoTeX price flows with a tide of potential altseason 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”.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
IoTeX (IOTX) Price Prediction: 2022-2030
Our IoTeX price predictions for 2022 to 2030 are highly influenced by the following factors we have outlined below.
Bitcoin (BTC) played a key role in IoTeX’s price rise in 2021. It can be more clearly seen in February to May 2021, when Bitcoin was doing very well and then in July when Bitcoin started to lose momentum, so did IoTeX.
As Bitcoin is the largest cryptocurrency (equating to more than 40% of the total cryptocurrency market cap) it is not surprising that its market sentiment can impact other cryptos. If Bitcoin is up, typically the whole market is and likewise, the opposite is also true. Anyone who invests in IoTeX should also carefully watch the price of Bitcoin.
IoTeX’s partnerships with NOWPayments and Travala hugely impacted the price of the crypto, taking it to its current ATH in 2021. When companies adopt IoTeX as a payment method or its technology to fulfil a business need, it increases its usability and the demand for the token which can increase its price.
In the future, further partnerships with similar companies could lead to higher price spikes. Watch out for partnership announcements on Twitter and in the news.
If these factors continue to positively impact IoTeX, our analysis concludes that IOTX can be a top short-term investment (one year) or long-term investment (five to 10 years). Here are our IoTeX price predictions for 2022 to 2030.
IoTeX (IOTX) Price Prediction 2022
With the number of IoT devices predicted to surpass 50 billion in 2022, there will be greater demand for IoTeX. As per our IoTeX price prediction, IOTX is forecasted to pass $0.20 by the middle of 2022. The estimated high for the year 2022 is $0.24, and the low is $0.054. The average IoTeX price prediction for the end of 2022 is $0.12.
IoTeX (IOTX) Price Prediction 2023
In 2023, IoTeX’s development team will begin building ‘Trusted Economies’ where intelligent machines will operate as market participants. Starting 2023 at $0.11, our IoTeX price prediction anticipates an average end of year price of $0.48. The max IoTeX will reach in 2023 will be $0.71 and the lowest will be $0.14.
IoTeX (IOTX) Price Prediction 2024
With the price of Bitcoin being one of the major factors that can impact IoTeX, its 2024 halvening will start the next bull run. Rallying up to a high of $0.93, IoTeX will secure an average of $0.60 by the end of 2024, as per our IoTeX price prediction. The lowest IoTeX price prediction is $0.34.
IoTeX (IOTX) Price Prediction 2025
2025 will see more companies adopting IoTeX as a secure way to operate the IoT. The 2025 IoTeX price prediction expects a median of $0.78, a low of $0.45, and a top price of $1.26. At the end of 2025, IoTeX will attain a price of $0.96. The expected median is 198.73% above IOTX’s 2021 all-time high.
IoTeX (IOTX) Price Prediction 2026
As smart machines continue to grow in popularity in 2026, they will need a service such as IoTeX to interact, enlarging the machine economy. The maximum target for 2026 is $1.66 and the minimum target is $0.91 according to the IoTeX price prediction. The end of year average is expected to be between $1.00 and $1.10.
IoTeX (IOTX) Price Prediction 2027
In 2027, the crypto market will begin to realise that IoTeX’s approach, which focuses on machines and human to machine communication, makes it more usable than other IoT alternatives. Early on in 2027, IOTX will reach its lowest yearly price of $1.02, secure an average of $1.55 midway through the year, then hit its highest price of $1.98. At the end of 2027, IoTeX will be worth $1.77, as calculated by the IoTeX price prediction.
IoTeX (IOTX) Price Prediction 2028
Another Bitcoin halvening in 2028 will spark yet another crypto bull market, taking IoTeX to higher highs. According to the IoTeX price prediction, IoTeX will hit an average of $1.90 in 2028, a maximum of $2.13, a minimum of $1.21, and a yearly closing price of $1.87.
IoTeX (IOTX) Price Prediction 2029
Continuing their efforts towards interoperability, IoTeX would have built many bridges to different blockchains by 2029, further increasing its useability. In 2029, IoTeX will trade at a min of $1.49 and a max of $2.35. The average price is estimated to be $2.00, as per the IoTeX price prediction.
IoTeX (IOTX) Price Prediction 2030
In 2030, IoTeX’s development and adoption among users and machines will outpace all other IoT crypto alternatives. Trading above the $2.40 level for much of early 2030, IoTeX will rally to a top price of $2.68 and cement an average between $2.45 and $2.50 by the end of the year. The lowest estimated price for IoTeX in 2030 is $1.99. The top price would equate to a 3,504.09% increase since 2022.
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Conclusion: What Could IoTeX Be Worth?
While our IoTeX price predictions are super positive, don’t make the mistake of thinking that prices will continuously increase forever! There are still many things that could go wrong, many of which cannot be predicted.
IoTeX’s biggest challenge for the rest of the decade is ensuring that it can remain competitive. There are several other coins involved in IoT and IoTeX must prove that it is the best to use. This means it must stay focused on improving how it works and building strong partnerships. If another IoT crypto outpaces IoTeX, it could be its downfall.
Elsewhere, like the rest of the crypto market, IOTX could face scrutiny from regulators as they tighten their hold over cryptocurrencies in the next several years. Of course, there is the chance that regulation could be favourable, but we cannot rule out the possibility that very tough regulation could greatly harm IoTeX’s development.
Hopefully, if tougher regulation is put into place, IoTeX will be more shielded than other cryptos because it focuses on IoT, however, the trading aspect could be problematic.
What Will Happen To The Price Of IoTeX (IOTX) In 2022?
2022 will see IoTeX solidify its gains from 2021. Though it will not hit the same highs, our IoTeX price prediction has calculated higher lows in 2022, suggesting the price will not fall lower than $0.054 at any point in the year and achieve an average of $0.12.
Will The Price Of IoTeX (IOTX) Go Up In 2022?
Yes, the price of IoTeX will go up in 2022. The top 2022 IoTeX price prediction is a high of $0.24, which the asset will reach in the latter half of the year. This is however slightly lower than IoTeX’s 2021 all-time high of $0.2611.
What Will Happen To The Price Of IoTeX (IOTX) In 2025?
In 2025, our IoTeX price prediction has forecast that IOTX will be worth a median of $0.78 — three times above IoTeX’s current all-time high. If IoTeX performs well, it is predicted to appreciate above $1, though this will likely be only momentary.
Will The Price Of IoTeX (IOTX) Go Up In 2025?
Based on our IoTeX price prediction data, IoTeX will go up in 2025 and reach prices almost five times above its current record. The max IoTeX can achieve in 2025 is $1.26 before ending the year at $0.96.
Will IoTeX (IOTX) Hit $1?
Yes, IoTeX can hit $1, though investors will need to be patient. IoTeX is first expected to breach $1 in 2025 and by 2027, IoTeX will cement its position above this level, as per our IoTeX price prediction forecast.
Will IoTeX (IOTX) Reach $10?
IoTeX will not hit $10 in the foreseeable future. Our 2022 to 2030 IoTeX price forecast does not see IoTeX hitting $10 before 2030. This doesn’t mean that it’s impossible, it just means it’s too early to predict.
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FAQs
Where Can I Stake IoTeX?
According to the IoTeX Community forum, IoTeX can be staked using the ioPay app for mobile (Android/Apple) or desktop.
When Was IOTX Coin Launched?
According to data from CoinMarketCap, crypto exchanges first started tracking the price of IOTX on the 26th of May 2018. Before that, 24% of the tokens were sold in an ICO at 1 IOTX = 0.0000125 ETH ($0.01 at the time) in February 2018 according to ICO Drops.
What Is The Mission Of IOTX?
The mission of IoTeX (IOTX) is to create a decentralised network for the Internet of Things (IoT) using the IOTX token as fuel for the economics of machines.
Is IoTeX A Good Investment?
Yes, IoTeX is a good investment. IoTeX is one of the top IoT platforms and had an exceptional 2021. IoTeX has appreciated 643.6% since its ICO in 2018.
Will IoTeX Rise?
IoTeX will rise according to our 2022 to 2030 IoTeX price prediction forecast. After hitting $1 in 2025, it will reach $2 in 2028 and $2.50 by 2030.
When Will IoTeX Take Off?
The IoTeX price prediction algorithm indicates that IoTeX will take off by 2023 as it reaches a new all-time high of $0.71. This momentum will continue to gain steam for the rest of the decade.
What Price Could IoTeX Reach?
IoTeX could reach a high of $0.24 in 2022, $0.71 in 2023, $0.93 in 2024, $1.26 in 2025, $1.66 in 2026, $1.98 in 2027, $2.13 in 2028, $2.35 in 2029, and $2.68 in 2030.
What Is IoTeX’s Price Prediction For The Next Bull Run?
No one can predict when the next bull market will take place, though a good indicator is the Bitcoin halvening. The next Bitcoin halvening is projected to take place in May 2024, and according to our IoTeX price prediction, IOTX can hit a high of $0.93.
How High Will IoTeX Go?
The highest IoTeX price prediction is an astounding $3.37 by 2031, according to the price forecasting platform Price Prediction.
IoTeX Price Prediction 2040
If we extend our IoTeX price prediction model to 2040, it suggests that prices between $20 and $30 per coin could be expected.