Project Analysis
Recently, IoTeX (IOTX for short), as an emerging digital currency, has gradually shown its influence in the market and attracted widespread attention. Although its trading volume on Binance has not yet reached its peak, its steady upward trend shows its potential in the cryptocurrency market. IOTX is not only the key to supporting decentralized platform services, but also plays an important role in promoting a new wave of technological innovation. #IOTX物联网+AI $IOTX
IOTX offers more comprehensive and in-depth features in providing public chain support than other eye-catching projects such as mobile. Although direct investment in specific decentralized platform projects is attractive, such investments often face the risk of business development uncertainty. As a public chain, IOTX provides investors with a more robust and flexible investment option.
The IoTeX project was founded in 2017. It is an open source project in Silicon Valley, designed for IoT applications, and built from scratch with a non-forking network architecture. The purpose of IoTeX is to build an open and trusted IoT ecosystem, aiming to enable the free exchange of information and value between people, people and machines, and machines in a secure, trusted and privacy-protected environment. By combining blockchain technology, secure hardware and privacy computing technology, the IoTeX network ensures that data from trusted devices can be used in trusted decentralized applications.
The IoTeX team brings together more than 30 engineers and scientists from top technology companies such as Uber, Google, Intel, Facebook, etc. Currently, more than 70 nodes around the world are involved in the maintenance of the IoTeX network, including well-known nodes such as Blockfolio, CoinGecko, and DraperDragon.
As a fully decentralized ecosystem with its own native token, IOTX, the IOTX token plays a key role in ensuring trusted, transparent, and secure interactions between all parties in the network, including node operators, voters, developers, service providers, and users. The IOTX token and IoTeX’s token economic system complement each other, further strengthening the decentralized nature of the network through a complete set of economic and reputation incentive mechanisms, and are widely used in IoTeX-enabled IoT products.
As the application of IOTX in the IoTeX network continues to expand, the acquisition of network resources brought by its use, staking, and destruction mechanisms has further driven the demand and value growth of IOTX, encouraging more participants to join and support the development of the IoTeX network.
In the fourth quarter of 2023, its network transaction fees achieved astonishing growth, with a quarterly growth rate of more than 3,000%, and the transaction amount exceeded the $212,000 mark. This not only demonstrates the strong potential of IOTX, but also reflects the market's high recognition of it.
IOTX also launched a middleware called W3bstream, which provides strong technical support for interoperability between different blockchains. Well-known public chains such as Ethereum and Solana have adopted this middleware, further confirming the leading edge and practical value of IOTX technology.
What’s even more exciting is that IOTX recently announced that it will be deeply integrated with Solana, which means that all decentralized platform projects on Solana will be able to enjoy the benefits of IOTX technology. This cooperation not only expands the scope of IOTX’s application, but also injects strong momentum into its future development.
In addition, IOTX has introduced special features such as confidential computing, privacy protection, and domain names. These new features not only enrich IOTX's ecosystem, but also significantly improve its competitiveness in the cryptocurrency market.
In terms of price, IOTX has recently shown some volatility, with an increase in the number of buy orders and a decrease in sell orders, triggering widespread speculation in the market about its future price trend. This abnormal movement may indicate that large institutions are actively entering the market, indicating that IOTX may be about to usher in a round of increases.
In terms of financing, IOTX has also shown an outstanding performance and has successfully completed four rounds of financing with a total amount of up to 35 million US dollars. Although the details of two rounds of financing have not been made public, the information that has been released is enough to prove its strong financing capabilities.
personal opinion
Regarding IoTeX (IOTX), my personal opinion is that it is indeed a project worth paying attention to, especially in the current hot background of DePin (decentralized platform), projects that can provide technical support for this often have good performance. As an infrastructure platform, IoTeX can be regarded as a cornerstone project in the industry. The following reasons are worth looking forward to:
Strong performance in last year's bull market: *During last year's bull market, IoTeX achieved a 10-fold increase in just three days. This explosive power undoubtedly makes people look forward to this year's market performance. Wide social attention: *IoTeX is currently hotly discussed on major social platforms, including many mainstream Internet companies. This widespread attention provides it with a strong market foundation. Team and community strength: *The team behind IoTeX is extremely strong, composed of engineers and scientists from top technology companies, and has an active community support. The positive optimism of various big names has also injected confidence into the market performance in April. Broad application prospects: *In fields such as smart homes and industrial manufacturing, IoTeX has shown great application potential and is expected to become an important bridge connecting the physical world and the virtual world.
Based on the above analysis, IoTeX has attracted attention not only for its technical support capabilities in the DePin track, but also for its status as an infrastructure platform, its market performance last year, its current social attention, and the strong support of its team and community, making it one of the most anticipated projects in the current cryptocurrency market. Coupled with its potential in practical application scenarios such as smart homes and industrial manufacturing, IoTeX is undoubtedly a crypto asset worth looking forward to in the future.
Price Estimation
From a valuation perspective, although the current market value of IoTeX (IOTX) is relatively low, as a public chain, its development potential is obvious. With the continued popularity of the decentralized platform (DePin) field and the continuous advancement of IOTX technology, we have reason to believe that its market value can quickly rise to a new level.
Currently, the market value of IOTX is about $700 million, which is quite low for a project at the forefront of the Internet of Things concept, suggesting that its subsequent upside may be huge. The total supply of IOTX is 10 billion, and the current circulation is 9.5 billion, which means that it is almost completely in circulation. Recently, IOTX completed a $50 million financing, and plans to focus this part of the funds on the currently popular field of artificial intelligence. In addition, IOTX has also introduced a staking mechanism, which can not only bring benefits to the pledgers, but also have the opportunity to receive airdrop rewards in the future.
Currently, about 40% of IOTX is in a pledged state, which means that the IOTX circulating in the market is very limited. In addition, it has almost reached a state of full circulation and there is no plan to unlock more tokens. This situation is very conducive to market operators to push prices up. After experiencing the bull market rotation of meme coins, artificial intelligence, and game sectors, the DePin field may become the next hot spot, and as the leader in the DePin field, IOTX is undoubtedly worthy of attention.
Considering the trillion-level potential of the IoT market, the current price of IOTX at about $0.077 is really cheap. I personally think that it is possible for it to grow 10 times or even 100 times. With the many advantages of IoTeX and the current market trends, investors and market observers have high expectations for its future performance.
