As of May 31, 2025, IoTeX (IOTX) is trading at approximately $0.0219, reflecting a modest daily gain of about 0.07%.
The token's 24-hour trading range spans from a low of $0.0196 to a high of $0.0222. With a circulating supply of 9.44 billion IOTX and a maximum supply capped at 10 billion, IoTeX's market capitalization stands at around $206 million.
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🔧 Network Developments: IIP-42 Vote Underway
The IoTeX community is currently voting on Improvement Proposal 42 (IIP-42), which aims to reduce block times and double the network's transactions per second (TPS) to 2,000. If approved, this upgrade would position IoTeX as one of the fastest Ethereum Virtual Machine (EVM)-compatible blockchains, potentially attracting more users and decentralized applications to the platform.
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📈 Market Performance and Outlook
Despite the recent uptick, IOTX remains significantly below its all-time high of $0.50, achieved in November 2021. Over the past year, the token has experienced a decline of approximately 59%, mirroring broader market trends. However, recent developments, such as the proposed network upgrade, may signal a potential turnaround.
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🌐 Ecosystem Expansion: DePIN and AI Integration
IoTeX continues to expand its ecosystem by integrating Decentralized Physical Infrastructure Networks (DePIN) and artificial intelligence (AI) technologies. The platform's recent updates aim to enhance real-world infrastructure development and scalability.
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🔮 Future Prospects
Analysts suggest that IoTeX's focus on IoT and DePIN positions it well for future growth. The successful implementation of IIP-42 and continued ecosystem development could drive increased adoption and potentially bolster the IOTX token's value.