- IOTX crypto price has increased by 93% in the last one year.
- Iotex has shown positive performance as compared to its token sale price.
IoTeX, founded in 2017, is a privacy-centric blockchain for IoT devices. Its native token, IOTX, powers transactions, staking, and governance. With Roll-DPoS consensus, it supports millions of IoT devices, offering complete user control. The team, with top engineers from Google, Facebook, and Uber, develops diverse projects like Ucam and Pebble.
Iotex Gas has a market cap ranking of #131 per CoinMarketCap, and the crypto volume/market cap ratio is 7.45%. This shows that the crypto has high liquidity.
The volume of derivatives traded for crypto has further witnessed a decline of 35% in the last 24 hours. This further results in a traded value of $31.22M. The open interest in crypto further has advanced by 12%.
The market cap of the Iotex crypto has advanced by 8.7% in the last 24 hours, resulting in a market cap value of $533.497M. Despite this, the value of the crypto-traded volume has declined by 24.6% in the last 24 hours.
The value of the traded volume for the crypto in the last 24 hours is $38.958M. The volatility of the crypto is also high, resulting in 8.49%, and the market cap dominance of the crypto is 0.02%. The sentiment of the crypto is also bearish, and the fear and greed index of the crypto is at 74.
Iotex Network Token Supply Overview
The circulating supply market cap of the token is $538.543M, and the on-chain market cap is $570.407M. Also, 94% of the maximum crypto supply is in circulation.
The circulating and total supply of the crypto are the same, resulting in 9.441B IOTX. Also, the maximum crypto supply is 10.0B IOTX.
Development Activity Vs. Development Activity Contributors
The development activity in the crypto community is witnessing an advance which is further followed by the surge in the development activity contributors count. This might result in further updates to the Iotex crypto blockchain.
IOTEX Crypto Technical Analysis
The price of the IOTX crypto was trading inside a rising wedge pattern for a long time, but the buyers failed to sustain the price to higher levels, which led to a breakdown in the price below the wedge pattern. This further shows the presence of sellers in the crypto market.
IOTX/USD Chart by TradingView
The IOTX crypto is taking support at the 200-day EMA and has declined below the 20-day and the 50-day EMA. If the crypto price further breaks below the 200-day EMA, a strong downtrend in the crypto price might be seen.
The MACD line has declined below zero and is currently trading at -0.00274. The MACD line slips further towards the lower levels, followed by a bearish cross.
The RSI has also declined below the 50 on the daily chart of the IOTX crypto. This behavior shows a decline in the momentum of the crypto price.
Summary
Despite IOTX’s 93% increase in the past year, its price faces bearish pressure as it broke below a rising wedge pattern. Market cap ranks #131, with high liquidity. Derivatives volume declines by 35%, while the sentiment remains bearish. Technicals show a potential downtrend, with MACD and RSI indicating weakness.
Technical Levels:
- Support levels: $0.0210 and $0.040
- Resistance levels: $0.0850 and $0.1030
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.