IoTeX (IOTX) is the winner of the day with a sharp price increase of over 117% in the last 24 hours. This catapults IoTeX to 82nd place among all crypto-currencies and records an all-time high of US$0.1783.
The reason for this price explosion seems to be the new partnership with Travala, which enables customers to pay for flights, hotels and other types of travel with IoTeX.
IoTeX reaches a new all-time high
Over the past 24 hours, the crypto-currency has risen by more than 117%, today reaching its first all-time high of 0.1783 USD. As a result, the price of IoTeX is in a strong upward momentum as the number of users and transactions has also increased.
Investors now seem to be looking for the next new crypto-currency to invest in. The price of IOTX has risen by over 206% since its October low of 0.0583. This recovery brings its total market capitalization to over $1.35 billion.
IoTeX (IOTX) optimistic thanks to new partnership
IoTeX recently announced on Twitter that it had entered into a partnership with Travala. This means that, in future, it will be possible to pay for flights, hotels and accommodation with IoTeX (IOTX) on Travala.
We think this is a revolutionary breakthrough in the world of crypto-currencies as well as in terms of the “Internet of Things” – because even now with the Metaverse, crypto-currencies and smart devices are becoming increasingly important.
What’s behind IoTeX? Does the new crypto-currency have potential?
IoTeX is a blockchain project whose development began in 2017. Its mainnet was launched in 2019 and has seen remarkable growth since then. The platform’s aim is to build the trusted Internet of Things, where physical and virtual objects can coexist. The main players in the network are people, companies, dApps and machines.
Thanks to the platform, people can interact seamlessly with machines, for example, while machines can connect to other machines. Companies can also interact and collaborate with other companies. This process is relatively similar to the one IOTA is trying to address.
Since its inception, the IoTeX platform has expanded to over 8,900 devices and processed more than 14 million transactions. Most recently, the platform has seen user growth of around 4,600% in less than a month.
Buying IoTeX – is it worth it?
The price of IoTeX is rising due to the growing trend towards metavers. Last week, Facebook announced that its holding company would be called Meta Platform. Microsoft has also entered this sector. The price of IoTeX is rising because investors expect it to perform well in an era where people interact in a virtual world.
But that’s not all. Thanks to the new partnership with Travala and the existing collaboration with NOWPayments, it seems that the trend is now upwards for IoTeX. This morning’s IoTeX conference could be another reason for this upward momentum. Two members of the IoTeX team: Xinxin Fan – Head of Cryptography and Larry Pang – Head of Business Development, gave a presentation on “Trusted Vehicle Tracking with IoTeX and Pebble Tracker”.
We can only assume that the presentation went well, as investors rushed to buy IoTeX after the presentation. So an investment in IoTeX could well pay off.
