Potential Rising Star: iotx, do you understand it?
Hello newbies in the cryptocurrency industry! Today I want to introduce to you a potential new star that may be about to rise-iotx. Don't underestimate it, it is a currency with a story!
First, let’s take a look at messari’s latest report. I looked at the trading volume on Binance, and while it doesn't appear to be large at the moment, it has been steadily rising, which strikes me as a bit unusual. In addition to it having a nice story background, it also makes me think it might be a valuable coin.
This chain specializes in depin. You may not know what depin is. Simply put, it is an application on the blockchain. I have been considering investing in the depin public chain because I think it may be more promising than investing in specific depin projects. The recent data performance of the iotx chain is very impressive and it is growing rapidly. It seems that foreigners like to play this.
Speaking of the depin track, I also mentioned mobile before. Its logic is mainly based on multi-flywheel pull, but the number of users is a public indicator, which will affect its valuation. So, as a leader in the depin field and recognized by the West, what is the public chain iotx like? I took a closer look:
In the fourth quarter of 2023, IoTeX's network transaction fees increased significantly, with the quarterly growth rate exceeding an astonishing 3,000%! This is simply an astronomical figure!
iotx has developed something called W3bstream to provide services for the depin project. This middleware is very powerful and can be used no matter what chain it is. What's even more amazing is that its development speed is faster than that of another well-known currency! It is now used by Ethereum, IoTeX Chain, Solana, Polygon, Arbitrum, Optimism and Conflux.
The most important thing is that iotx recently announced its integration with sol, which means that all depin projects on sol can use iotx technology, including popular projects such as rndr, mobile, and hnt.
Of course, iotx also has many other powerful technologies, such as confidential computing, privacy protection and domain names, but these may be a bit too professional for novices, so I will not introduce them in detail.
Recently, I noticed that the price of iotx has changed. There are few sell orders but many buy orders. This is a bit like big funds quietly accumulating funds.
Speaking of financing, iotx's performance is also quite good. It has conducted a total of 4 rounds of financing, 2 of which were publicly disclosed, totaling up to US$35 million. There are still many undisclosed financing rounds, which is enough to show the market's confidence in it.
If we follow the general algorithm and assume that there are as many undisclosed financings as disclosed financings, then iotx has received a total of US$70 million in institutional financing. This means that if the secondary market can receive these chips several times, it will be a good investment opportunity.
The current circulating market value of iotx is about 700 million, and its 24-hour trading volume has reached 10 million on Binance. Although it looks like it has risen a bit from the bottom, you can't actually buy much to push it higher.
Finally, let's look at valuation. The current fdv of iotx is more than 700 million, but 40% of it is pledged, so the actual circulation market value is only more than 300 million. As a public chain, this valuation does not seem to be high. After all, any public chain now starts at several billion dollars, and can even reach tens of billions.
I'm thinking, if depin is the favorite investment direction of foreigners, then as a leader in the depin field, iotx's current market value is only more than 200 million US dollars, which seems to be a good investment opportunity. I even think that investing in iotx may be better than investing in specific depin projects. After all, the narrative of the depin public chain is relatively easy to understand.
Of course, all investments have risks, and we must understand the rules of the currency investment field. But combined with the position matching strategy we talked about before, I think if you want to buy value coins but don’t want to just buy BTC, then iotx is obviously much better than other public chains such as arb and op. For those public chains with a market value of tens of billions, how much room do they have for growth?
I know that many novices are afraid to get on the bus when they see the skyrocketing K-line, but I want to tell you that investment is not only about short-term rises and falls, but also about long-term value and potential. From a valuation perspective, iotx's risk-to-return ratio is quite good. Of course, everyone's investment logic and risk preferences are different, I am just providing a reference opinion.
Finally, what I want to say is that investing is a learning process and don’t be afraid to try new things.Potential new stars like iotx may be a good choice for you to start your journey in the currency circle. But remember, investment involves risks, so be cautious when entering the market!
If you are a friend who has been chasing ups and downs, often being trapped, without the latest news in the currency circle, and without direction, follow Brother Yi. In the group, I share the bull market strategy layout with fans for free, just to increase my followers!
