The goal of the IoTeX project, which was founded as an open-source initiative in 2017 with the goal of creating an open environment where people and machines can communicate in a safe and trustworthy environment with free will and economically organized incentives, is open economics for machines.
IOTX, the blockchain system’s native token, is used to manage the network’s fundamentals and as transaction fees. The value of IoTeX decreases as the number of devices controlled by it grows.
This week, the value of a little-known cryptocurrency more than quadrupled, while the value of other crypto assets remained unchanged. IoTeX is an open-source blockchain platform for decentralized apps and Internet of Things (IoT) devices.
Developers will find it easier to migrate their apps to the IoTeX network thanks to the platform’s compatibility with EVM. On November 8th, the coin’s value increased from $0.10 to $0.25, representing a 150 percent increase and a $2,000,000 market capitalization.
Unusual Entry Into the NFT Sector
Chainlink (LINK) announced last week that it had awarded Protofire a grant to facilitate IoTeX integration. IoTex has announced a strategic partnership with the NFT game PlaceWar as part of its expansion into the crypto economy, allowing players to generate revenue. The IoTeX price today is $0.235097 USD, with a 24-hour trading volume of $1,205,495,890 USD, according to CoinMarketCap. IoTeX has increased by 48.74 percent in the last 24 hours.