IoTeX is one of those blockchain-based projects that has its focus on Internet of Things devices and is looking towards designing an open ecosystem. The technology is also looking towards enhancing the future of machine learning in any workforce and wants to facilitate better interaction between machines and people.
Over the last month, the token for this project has rallied to around 200%. This has been made possible for, over the last three decades, the growth of digital and internet technology has led to a massive transformation about how the whole world operates.
Currently, artificial intelligence and machine learning have continued to shift their balance of power completely away from manual labor- and more towards a future that would be filled with smart technology.
IoTeX Aiming For a Smarter World
According to data received from TradingView and Cointelegraph Markets Pro, it has been highlighted that ever since IoTeX touched a low of $0.055 on the 27th of October, the price of the project went up by 377% to reach a record high of around $0.263 on the 13th of November as the trading volume over 24 hours reached a record $3.93 billion.
There are quite a few reasons behind the price action breakout of the blockchain token- as it has focused on the rebranding of the project– completely focusing on the rise of MachineFi, along with the launch of NFTs and far more decentralized finance projects entering the ecosystem.
The biggest boost received from the ecosystem of IoTeX arrived in the early part of the month when most of the projects announced that it had been rebranding itself to focus on the growth of MachineFi- which would simply be another way to integrate machines further into the traditional workforce as well as the Metaverse.
With the increase in smart devices, IoTeX has been aiming towards ensuring trust and security between devices and users- along with creating a far simpler interface where every device would be able to connect to one another.
