The current price of IoTeX (IOTX) stands at $0.02098**, with a 24-hour trading volume of **$5.57 million. Over the past day, IOTX has remained flat at +0.00%, indicating stable market activity. With a circulating supply of 9.44 billion IOTX tokens and a maximum cap of 10 billion, the network is nearing its full issuance limit, leaving only 560 million tokens yet to enter circulation.
This positions IoTeX as a mature blockchain project with a predictable economic model, appealing to long-term investors and developers building within its ecosystem.
What Is IoTeX?
IoTeX (IOTX) is an open-source Layer 1 blockchain designed to bridge the gap between humans and machines by enabling secure, decentralized interactions. Fully compatible with the Ethereum Virtual Machine (EVM), IoTeX allows developers to build and deploy smart contracts seamlessly, leveraging existing Ethereum tooling and infrastructure.
At its core, IoTeX powers a growing ecosystem of decentralized applications (dApps) like Cyclone and Mimo, smart devices such as UCam and Pebble Tracker, and essential services including ioPay (a digital wallet) and ioTube (a cross-chain bridge). Together, these components form the foundation of the Internet of Trusted Things (IoTT) — a vision where data from connected devices is not only accessible but verifiably secure and private.
The native IOTX token serves as the lifeblood of this ecosystem. It enables users to connect IoT devices to the network, participate in governance, stake for rewards, and pay for transaction fees. By combining blockchain security with real-world device integration, IoTeX unlocks new economic models where machine-generated data becomes a valuable asset.
👉 Discover how blockchain is transforming smart devices and data ownership.
A Brief History of IoTeX
Founded in 2017, IoTeX was created with a clear mission: to establish complete trust in the Internet of Things (IoT) by addressing fundamental issues around data privacy, security, and ownership. The founding team — including blockchain veterans Jing Sun, Qevan Guo, and Raullen Chai — brought deep expertise in cryptography, consensus mechanisms, and information security to build a scalable and trustworthy infrastructure.
The native IOTX token launched in 2019 after a private sale conducted in early 2018. Due to regulatory constraints, the initial funding round (often referred to as an ICO) was limited to around 50 accredited investors and ran from January to February 2018. Participants contributed Ethereum (ETH), raising over 25,000 ETH — equivalent to nearly $20 million at the time — at an exchange rate of 96,000 IOTX per 1 ETH.
This private sale generated 2.4 billion IOTX tokens, representing 24% of the total supply. All tokens from this round were fully distributed by November 2019.
One of IoTeX’s most innovative contributions is its Burn-Drop tokenomics model. Out of 1 billion allocated IOTX tokens, 900 million (90%) are burned as more devices join the network, while 100 million (10%) are distributed to long-term participants. This deflationary mechanism ensures that increased adoption directly benefits token holders by reducing supply over time. The burn process will conclude once 1 million "Powered by IoTeX" devices are connected globally.
How Does IoTeX Work?
IoTeX leverages smart contracts to integrate real-world IoT devices into its blockchain network. These contracts automate interactions between devices and users, ensuring transparency and immutability.
A key innovation is the cross-chain data bridge, which enhances interoperability across multiple blockchains. This allows IoTeX-based data and assets to flow freely between ecosystems like Ethereum, Binance Smart Chain, and others.
To securely bring off-chain data on-chain, IoTeX employs oracles — external sensors or data feeds that monitor device behavior. These oracles act as trusted intermediaries, verifying information such as location, temperature, motion, or usage patterns before it's recorded on the blockchain.
The Truststream protocol functions as a Layer-2 Oracle solution, improving scalability and reliability. It ensures that high-frequency data from thousands of devices can be processed efficiently without congesting the main chain.
Underpinning the network is roll-DPoS, a novel variation of Delegated Proof-of-Stake (DPoS). This consensus mechanism combines staking incentives with randomized validator selection to enhance decentralization and reduce the risk of centralization seen in traditional DPoS systems.
Users can stake their IOTX tokens to support network security and earn rewards. Additionally, through the MachineFi protocol, individuals can monetize their smart devices — turning everyday gadgets into income-generating assets. Whether it's a fitness tracker, camera, or vehicle, any connected device can contribute data that others value.
👉 Learn how you can turn smart devices into revenue streams using decentralized networks.
Use Cases: What Is IoTeX Used For?
IoTeX is building a new paradigm for the decentralized Internet of Things (dIoT). Its primary use case revolves around connecting physical devices to the blockchain in a way that prioritizes user control, data integrity, and economic incentive.
Seamless Device Integration
Adding a new sensor or gadget to the IoTeX network takes just minutes. Developers and enterprises can onboard devices quickly, thanks to plug-and-play compatibility and robust developer tools.
Real-World Adoption
As of now, over 9,366 smart devices are actively connected to the IoTeX ecosystem. These include surveillance cameras (UCam), asset trackers (Pebble), and health monitors — all transmitting encrypted data to the blockchain.
Transparent Data Management
Businesses use IoTeX to aggregate device data across platforms, gaining real-time insights into operations. Because all data is timestamped and tamper-proof, companies can audit performance, verify compliance, and improve decision-making with confidence.
Monetization Through MachineFi
Perhaps the most transformative application is MachineFi, which turns machines into autonomous economic agents. For example:
- A delivery driver could earn passive income by sharing anonymized route data.
- A homeowner might rent out their solar panel output data to energy analysts.
- A fitness enthusiast could sell workout pattern insights to health researchers.
All of this happens securely and privately, with users retaining full ownership of their data.
Frequently Asked Questions (FAQ)
What is the current price of IoTeX (IOTX)?
As of now, the IOTX price is $0.02098. Prices fluctuate based on market demand, so it's recommended to check live charts for real-time updates.
How many IOTX tokens are in circulation?
There are currently 9.44 billion IOTX tokens in circulation, out of a maximum supply of 10 billion. This means about 94.4% of all tokens have already been issued.
What makes IoTeX different from other IoT blockchains?
IoTeX stands out due to its EVM compatibility, Burn-Drop tokenomics, and MachineFi framework. Unlike other projects, it offers a complete stack — from hardware to dApps — enabling true user ownership of data and devices.
Can I stake IOTX tokens?
Yes. Users can stake IOTX through wallets like ioPay to earn rewards and help secure the network via the roll-DPoS consensus mechanism.
Is IoTeX environmentally friendly?
Yes. As a Proof-of-Stake blockchain, IoTeX consumes significantly less energy than Proof-of-Work networks like Bitcoin. Its roll-DPoS design further optimizes efficiency and scalability.
Where can I buy IOTX tokens?
IOTX is listed on several major cryptocurrency exchanges. You can acquire it using USD or other cryptocurrencies through supported trading pairs.
👉 Explore secure ways to acquire and manage IOTX tokens today.
Final Thoughts
IoTeX represents a bold step toward a future where machines don’t just collect data — they own it, protect it, and generate value from it. With strong fundamentals, a proven track record, and real-world device adoption already underway, IoTeX is well-positioned to play a pivotal role in the evolution of Web3 and decentralized physical infrastructure networks (DePIN).
Whether you're an investor tracking IOTX price trends, a developer building dApps, or a user interested in monetizing smart devices, IoTeX offers a compelling blend of innovation, usability, and long-term vision.
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