On January 14th, the native token of IoTeX, IOTX, experienced a slight increase in value following the announcement of a significant partnership between IoTeX and the enterprise blockchain company, Fireblocks. In simpler terms, the price of IOTX went up a bit when IoTeX teamed up with Fireblocks, a well-known blockchain firm for enterprises.
In response to positive U.S. economic data causing a rise in risk assets across the broader crypto market, the IoTeX (IOTX) token experienced a surge of over 5%, reaching a peak of $0.036. This increase in value for IOTX was due to the announcement of the DePIN project integrating with Fireblocks, a platform specialized in managing digital assets on blockchain technology.
Earlier in the day, IOTX had hit its lowest price since Dec. 20, 2024.
A possible profit-taking could slow down the rapid growth in the short term. Yet, the news was favorable for IOTX, as integration with Fireblocks enables IoTeX to offer its native IOTX token and other IoTeX-related assets to businesses and institutional investors worldwide.
Using Fireblocks, we are enhancing IoTeX’s ecosystem with top-tier security and user-friendly features, thereby opening up additional liquidity paths and fostering broader adoption for our tokens. This move emphasizes our mission to seamlessly integrate blockchain technology with real-world Decentralized PIN applications. As stated by Raullen Chai, the CEO and co-founder of IoTeX.
This collaboration presents chances for businesses interested in delving into the market for tokenized, decentralized networks that exchange data about physical infrastructure. As explained by IoTeX, this involves embracing digital representations of real-life assets and running decentralized apps within their platform.
As a researcher, I eagerly anticipate our partnership with Fireblocks will significantly elevate the liquidity within our network and foster increased institutional acceptance of IoTeX’s native token, along with other ecosystem assets. This integration is particularly advantageous for key users such as custodians, investment funds, and digital exchanges, who can capitalize on the synergy between IoTeX and Fireblocks solutions on the DePIN platform.
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2025-01-14 19:33