IoTeX Price

IoTeX has created a unique and diverse ecosystem to promote an open machine economy. This vision, coupled with a solid technical foundation and the support of a dedicated and competent team, could make it an attractive investment. Additionally, IoTeX has developed and implemented a variety of middleware components that enable the operation of self-managed devices and the creation of innovative dApps.

Another attractive aspect of IoTeX as an investment is its EVM-compatible blockchain. This compatibility allows for seamless integration and interoperability with other major blockchains like Ethereum, BNB Chain, and Heco. Moreover, the EVM compatibility enables EVM-based dApps to scale on IoTeX without incurring high gas fees.

IoTeX has also demonstrated its ability to deliver real-world use cases. With products like Ucam and Pebble, which are already used in thousands of households and by hundreds of developers, IoTeX has proven its ability to provide solutions that meet consumer needs and developer requirements.

Finally, IoTeX has a unique economic structure called "Burndrop," which causes the deflation of IOTX as the number of devices orchestrated by IoTeX increases. This structure could increase the value of IOTX over time, making it a potentially attractive investment.

Several factors could positively influence the price prediction of IoTeX (IOTX). One of these is the continuous development and implementation of new technologies and products by the IoTeX team. Additionally, the increasing adoption of IoTeX products like Ucam and Pebble and the associated increase in the use of the IoTeX blockchain could boost the value of IOTX.

Moreover, IoTeX's EVM compatibility and the ability to scale EVM-based dApps without incurring high gas fees could lead more developers and businesses to choose IoTeX as a project platform. This could lead to increased demand for IOTX and drive the price upward.

The unique economic structure of IoTeX, "Burndrop," which causes deflation of IOTX as the number of devices orchestrated by IoTeX increases, could also positively impact price prediction.

IOTX is the native cryptocurrency of the IoTeX blockchain network and has several use cases, including:

Pay Transaction Fees on IoTeX

Users of the IoTeX network need to spend IOTX tokens to pay transaction fees when conducting operations on the network. These fees are essential for maintaining and securing the blockchain network.

Stake IOTX Token

IOTX token holders can stake their tokens to participate in the network's consensus mechanism. By staking IOTX, users contribute to the security and operation of the network and, in return, earn IOTX rewards. These rewards are collected from gas fees and are redistributed to participants who actively stake their tokens.

Governance of IoTeX Network

Holders of IOTX tokens can participate in network governance by staking their tokens. It allows them to have voting power in decision-making processes related to the development and future direction of the IoTeX network.

Native dApp Development

Developers can utilize IOTX tokens to power their smart contracts, build dApps, and create new tokens on the IoTeX multi-chain platform. The IOTX token plays a crucial role in facilitating the development and functioning of various applications within the IoTeX ecosystem.

Trade or Hold IOTX Long-term

Trade IoTeX token on the KuCoin Spot Market or other platforms to make the most of changing market conditions and volatility. Buy or sell IOTX or hold the token long-term if you believe in the future potential of the IoTeX project. Conduct thorough research before making any new investment decisions in the crypto market.

In 2023, the circulating supply of IOTX was 9,446,641,822 IOTX tokens. The tokens are used as gas for transactions on the IoTeX blockchain and govern the underlying blockchain protocol.

The security of the network and the addition of new blocks to the blockchain are ensured through a Delegated Proof-of-Stake system. The votes of stakeholders select Block producers and receive rewards for their work, which they can pass on to the stakeholders who voted for them. This creates incentives for both the block producers and the stakeholders.

A unique feature of IoTeX's tokenomics is the "Burndrop" system. In this system, the increasing number of devices orchestrated by IoTeX leads to the deflation of IOTX. This economic design aims to increase the value of IOTX over time.