IoTeX or IOTX has just recently reached its new all time high of $0.151594 which is an extreme stretch in value compared to its all time low at $0.00121576. Although the all-time low happened a year ago on March 13, 2020, the cryptocurrency’s all-time high happened on November 4, 2021.
IOTX Reaches ATH
As of the moment, the current market price for IOTX during the time of this writing was at $0.147601 as per CoinGecko with a market cap of a whopping $1,370,148,106. As of the moment, the cryptocurrency’s market cap dominance sits at 0.05% with its trading volume at $1,561,818,705.
It was noted that in seven days, the crypto went from its low of $0.061012 all the way to $0.150602 and is now currently ranked #102 on CoinGecko. It was noted that the IOTX price has actually been up by a whopping 70.2% in the course of just the last 24 hours.
IOTX 9.5 Billion Total Supply
It currently has a circulating supply of a whopping 9.5 billion IOTX coins along with a total supply of 9.5 billion. It was noted that for those that want to either buy or sell IoTex, Binance is known as the most active exchange to do so.
IoTex is known as the auto-scalable and privacy-centric blockchain infrastructure that is made for the Internet of Things or IoT. IOTX’s very own global team is actually compromised of PH.Ds in Cryptography, Machine Learning, Distributed Systems, top tier engineers, as well as some other experienced ecosystem builders.
IOTX In-House Innovations
It was noted that IoTex is currently developing a number of different in-house innovations in order to push the whole frontier of blockchain 3.0. This includes a blockchains-in-blockchain architecture which can be used for heterogeneous computing along with lightning fastRoll-DPoS consensus mechanism along with certain lightweight privacy-preserving techniques.
It was stated that IoTex is bringing autonomous device coordination to the general masses through connecting the physical world simply block by block. The description by CoinGecko then linked towards a review by CoinBureau of IoTex.
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IoT Devices to Exceed 50 Billion in 2022
It was noted that the number of IoT devices are expected to exceed a whopping 50 billion by the year 2022 according to a certain research that was conducted officially by Juniper Research. This is said to be a huge number and the immersive number of different internet-connected devices will then need a secure way to communicate and automate in real-time.
As per CoinBureau, IOTX now plans to solve the problems through the privacy-centric blockchain that provides both flexibility and scalability. This is by leveraging a fast consensus mechanism that is reportedly based on Proof-of-Stake and is combined along with the use of sidechains. IOTX is in direct competition with yet another popular cryptocurrency, IOTA, which is using Directed Acyclic Graph or DAG tech in order to solve scalability issues.
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Written by Urian B.
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