IoTeX is an Internet of Things (IoT) crypto and blockchain project based in Silicon Valley.
The open-source project was launched in 2017 and founded by Dr Raullen Chai, who previously worked for Google and more recently Uber.
The project focuses on empowering the machine economy and leading the transition to Web3, in a way that benefits businesses and consumers alike.
In late 2021, IoTeX launched MachineFi, in a milestone achievement that caused the price of its token to surge to an all-time high and attracted thousands of new retail investors.
IoTeX’s chief rival is IOTA – another open-source IoT blockchain project which was founded a short while prior to IoTeX.
What IOTX?
IOTX is IoTeX’s native token, and it is currently ranked as the 108th largest cryptocurrency in the world by market capitalisation.
IOTX reached an all-time high of circa $0.23 in November 2021 following the launch of MachineFi.
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Its price has since dropped to $0.0349, according to CoinMarketCap data, as the crypto market as a whole has declined due to interest rate hikes (and the threat of further increases) and global political and economic uncertainty.
How can I buy IOTX?
IOTX is listed on a wide selection of centralised exchanges (CEX) and decentralised exchanges (DEX), including Binance, Huobi Global, Uniswap, and HitBTC.
It can only be purchased crypto-to-crypto, so you’ll first need to exchange some fiat for USDT, Bitcoin, Ethereum or BUSD, and then trade this crypto for IOTX.
