IOTX, the IoTeX token, has had a wild week. The project has gone cross-chain, the co-founder has joined Chainlink, and the user base is growing rapidly. All of these factors boosted the token's value by 400 percent in three days, as the world's largest exchanges took turns listing the token. After a spectacular week, I'm back.
The acronym CIOTX stands for Cross-chain IOTX. This is the most recent version of IOTX, the sulphurous crypto money. Interoperability across blockchains is enabled by a cross-chain. This allows tokens from a different network to engage with smart contracts and ecosystem applications using a different protocol. Clearly, cross-chain integration allows the IOTX network to expand its field of activity and serve a significantly bigger number of clients.
The new cross-chain version of IOTX, dubbed CIOTX, connects to major blockchains via the ioTube bridge, including the top three in the rankings: Polygon, BinanceChain, and Ethereum.
But that wasn't the only piece of news that sent counters and indicators soaring this week. IOTX has benefited from listings on the world's most prominent exchanges, in addition to its increasingly important implementations and growing number of users. On top of the world!
IOTX is now available to the 68 million customers of the world's number two exchange, the most extensively used in the United States, after being listed on Coinbase pro and then Coinbase.
Binance, the world's largest cryptocurrency exchange, also confirmed the token's listing this week. As a result, it joined the race and now allows its customers to purchase the well-known token. It can also be accessible on Huobi and Kucoin, two of the most well-known Asian exchanges.
In addition, the company has announced the start of futures contract trading. Binance Future and Huobi Future are the exchanges affected by this statement.
IOTX, IoTeX's token, hit an all-time high in May 2021, during the initial wave of the bull run. The coin was valued at $ 0.07 at its maximum peak. It plummeted back to $ 0.01 with the ensuing correction. Recent pronouncements, on the other hand, have literally raised its value. It grew by 800 percent in three days, reaching a new high of 0.14 dollars. Since then, there has been a little correction.
The significance of the news around this prospective initiative, on the other hand, should quickly propel the price back to new heights. It's difficult to make a price forecast, but the future looks promising. Price isn't the only thing that has increased by a factor of ten in recent days. The number of active addresses, which indicates the number of users and community power, has also skyrocketed. The number of active wallets has surged by 500 percent in the last seven days, according to the official IOTX Twitter account.
The operation of IOTEX provides long-term benefits to its shareholders. This is the guiding idea and philosophy of this decentralised initiative. Tokens are destroyed, burned, and delivered to the addresses of holders all around the world when a new device is registered on IOTEX. In this approach, investors are encouraged to purchase and hold the valuable token. This helps limit volatility while rewarding investor and community commitment by preventing huge sales when the price rises. Burn-Drop was the name of the operation.