The live IoTeX price today is $0.02, with a 24-hour trading volume of $5.72 million. Over the past hour, the IOTX price increased by 0.33%, and it is up 2.37% since yesterday. The current market capitalization of IoTeX is $199.05 million, calculated by multiplying the circulating supply of 9.44 billion IOTX by the current market price. The maximum supply of IOTX is also 9.44 billion.
What Is IoTeX?
IoTeX is an EVM-compatible Layer 1 blockchain designed to enable secure and trusted interactions between humans and machines. It serves as a foundational platform for the Internet of Trusted Things, supporting a wide ecosystem that includes decentralized applications (such as Cyclone and Mimo), smart devices (like UCam and Pebble), essential services (including ioPay and ioTube), and various digital assets. The project aims to empower users by delivering greater value through a decentralized and trustless infrastructure.
Understanding IoTeX Market Capitalization
The market capitalization of a cryptocurrency represents its total market value based on the current price and circulating supply. For IoTeX, the market cap stands at approximately $198.95 million. A higher market cap often indicates that the asset is more established and widely valued by investors.
Analyzing IoTeX Trading Activity
Trading activity is a key indicator of market interest and liquidity. In the last 24 hours, approximately 271.42 million IOTX were traded, equivalent to a trading volume of $5.72 million. This level of activity reflects a 2.37% change compared to previous periods, demonstrating ongoing market engagement.
Current IoTeX Token Price
At the time of writing, one IoTeX token is valued at $0.02. Like other cryptocurrencies, this price is subject to change based on market demand, investor sentiment, and broader industry trends.
Circulating Supply of IoTeX Tokens
The circulating supply refers to the number of tokens currently available in the market. IoTeX has a circulating supply of 9.44 billion IOTX, which also represents its maximum supply. This fixed supply model can have implications for the token’s scarcity and long-term value.
IoTeX Popularity and Market Rank
IoTeX (IOTX) is currently ranked 277 among all cryptocurrencies based on its market capitalization. Market rank is a useful metric for comparing the relative size and popularity of different digital assets within the global crypto landscape.
How IoTeX Stands Out in the Blockchain Space
IoTeX distinguishes itself by focusing on the convergence of blockchain technology and the Internet of Things (IoT). Its machine-friendly infrastructure enables real-world applications such as smart home devices, supply chain tracking, and privacy-preserving data marketplaces. By combining scalable technology with a user-centric approach, IoTeX aims to bridge the gap between digital and physical worlds.
The platform utilizes a robust consensus mechanism known as Roll-DPoS (Delegated Proof of Stake), which enhances scalability without compromising security. This makes it suitable for high-frequency machine-to-machine transactions and everyday consumer applications.
Moreover, IoTeX supports the creation of decentralized identities and assets, allowing users to maintain ownership and control over their data and devices. This emphasis on privacy and autonomy aligns with the core principles of Web3 and decentralized innovation.
Factors Influencing IoTeX Price Movements
Like most cryptocurrencies, the price of IOTX is influenced by a combination of factors, including:
- Overall crypto market trends
- Adoption rate of IoTeX-powered products
- Developments within the IoTeX ecosystem
- Broader macroeconomic conditions
- Regulatory news affecting blockchain and IoT sectors
Staying informed about these variables can help investors and enthusiasts make more educated decisions. For those interested in tracking real-time metrics and trends, you can explore live market data here.
Frequently Asked Questions
What is IoTeX used for?
IoTeX is primarily used to power a decentralized network of IoT devices and applications. It enables secure data exchange, machine-to-machine transactions, and user-controlled smart devices, making it ideal for smart cities, supply chains, and connected homes.
How can I buy IoTeX tokens?
IoTeX tokens (IOTX) can be purchased on major cryptocurrency exchanges. You will typically need to create an account, complete verification, deposit funds, and place an order through the platform’s trading interface.
Is IoTeX a good investment?
As with any cryptocurrency, investing in IoTeX involves risks. Its value depends on market adoption, technological progress, and overall crypto market conditions. Always do your own research and consider your risk tolerance before investing.
What makes IoTeX different from other blockchains?
IoTeX is specifically designed for machine-centric applications and IoT integration. Its unique architecture combines scalability, privacy, and real-world utility, setting it apart from general-purpose blockchains.
Can I stake IOTX tokens?
Yes, IoTeX uses a Delegated Proof of Stake (DPoS) consensus model that allows token holders to stake their IOTX and participate in network governance while earning rewards.
Where can I store IOTX securely?
IOTX can be stored in several supported wallets, including the official ioPay wallet, hardware wallets like Ledger, and other compatible EVM wallets. Always ensure you use reputable and secure storage solutions.