In the last few years, IoT has become more and more popular in a variety of areas. They’re already used in homes and offices, but they’ll be even more common by this year’s end when we can expect connected devices to hit 35 billion worldwide. Currently valued at $212 billion globally, its market is expected to grow over time as well with it being integrated into many different types of technology across all kinds or industries that are adopting new tech rapidly including healthcare IT security, transportation services, appliances for commercial/business use like HVAC systems smart grids.
The increased adoption of IoT devices has shown benefits and trade-offs. Privacy issues, lack of transparency, and data sharing problems threaten the exciting potentials that come with this new wave in technology. To preserve its promise to revolutionize our society as we know it today for better or worse; a blockchain paradigm shift is necessary to support billions of interdependent smart objects efficiently on an immutable ledger.
What Is IoTeX?
The IoTeX blockchain project is a vital part of the IoT industry. It involves hardware and software components being combined together to make it secure for executing smart contracts, while ensuring that all transactions are streamlined throughout its ecosystem. The underlying technology of IoTeX is the Roll-DPoS consensus mechanism. This consensus offers several distinct advantages over traditional blockchain protocols. These include the ability to support high transaction throughput and better scalability.
IOTX tokens are used as a way for devices and service providers to exchange resources in the network. The IoTex platform serves as an efficient blockchain solution that helps with interactions between IoT devices & companies providing services or products related to them.
Things You Should Know About IoTex In 2021
IoTex has released several IoT products with its partners, and companies have started using their technology as an underlying protocol for their projects. The Internet of Things is slowly gaining traction among people such that it’s expected to increase significantly in the coming years. The project has made significant progress when it comes to developing efficient security solutions for developers building dApps on top of IoTeX platforms – a scalable blockchain platform designed specifically for decentralized applications related to IoT devices. Traditional businesses are starting adopt blockchain technologies while big corporations deploy internet-connected devices.
TrustWallet plays a big part in the future of IoTex by launching an app that allows users to stake their tokens and receive dividends. Trust Wallet is one of the most popular crypto wallets so this commitment will probably play a key role in increasing adoption rates for IOTX.
Cobo Wallet also supports blockchain voting with its mobile staking dApp allowing votes to be cast via MetaMask built into Cobo’s wallet platform which should increase voter participation as it can be accessed directly from within your wallet interface rather than through another browser tab or third-party website login credentials, etc.
IoTex Price History
In early February 2019, IoTex was trading at as low as $0.006. The fluctuations on the lower end of the price chart continued until late 2020, when the token began gaining momentum. At this time, the whole cryptocurrency industry was swept by one of the biggest market-wide bull runs. As bluechip currencies like Bitcoin were hitting previously unimaginable milestones, IOTX began rising steadily, and towards the end of March 2021, it crossed $0.04. Although it fell back to $0.033 in late April, it quickly recovered and jumped to $0.07839 by the end of April. This spike was followed by another major downtrend that saw the coin trading at $0.0149 on June 25th, 2021. This was even lower than IoTex’s launch price.
IOTX Price Prediction In 2021
According to Wallet Investor, IOTEX will start September at a slightly high price of $0.0863 and then fluctuate throughout the month and close at $0.0887. In October, Wallet Investor predicts that the price might be quite unpredictable with sudden drops and rises for the most part of the month. IOTX will start trading in October at $0.0889 but won’t see much growth until towards the end of the month when it crosses $0.0900 to close the month at $0.0926. This gradual increase might continue to early November where the coin will kick off at $0.0927.
IoTex Price Prediction For 2022 – 2023
2022 is going to be a critical year for IoTeX. By this time, it should have become one of the most used blockchains in the Internet of Things industry.
Therefore, we can expect its price predictions to rise sharply during this period, and if all goes well, it can potentially reach its all-time high by March 2023. It is also during this time that IoT devices will become increasingly connected, and we can expect it to be among the most widely used blockchain in the industry. The following predictions do not include the potential for new partnerships or any other events that could positively impact IoTex’s value. However, once these are included a partnership with a major company, then the price can be expected to rise even further.
The growth might happen rapidly, and Wallet Investor predicts that IOTX might cross $0.1 in early February and $0.11 in mid-March. By June, the coin would have risen to $0.115 then start dropping to as low as $0.090 in mid-June. Fortunately, Wallet Investor predicts that IOTX will start rising again, and by the end of the year, it might surpass $0.12. The uptrend will continue in 2022, with IoTex finishing January at $0.122 and then cross $1.30 towards the end of April. By June, Wallet Investor predicts that IOTX would have crossed $0.141 but might also drop to $0.136 towards the end of July.
Summary
IOTX can be a good investment for the long term. But as mentioned earlier, it is too early to draw any definite conclusions at this point in time. For one thing, the project is still in its infancy, and there are many uncertainties relating to it. Otherwise, if the market is conducive, there is a possibility that the IoTeX could appreciate in value. If this happens, it will be monumental for IoT applications that are still at an early stage of development.
