IoTeX has surged to new highs after its price rally since the 1st of February. According to recent metrics, the value of IoTeX has risen from an earlier $0.011 to a record-high of $0.0443, as of March 10. Recent reports also suggest that the trading volume (TV) of IoTeX has also gone up by 130%. Let us look into what led to such an extraordinary price rise in the company’s recent past.
Several market analysts suggest that its price has been directly impacted by the partnership of Amazon Web Services and DeFi. A scroll through the Twitter feed of this platform is proof enough to show that its project managers have been looking for such a merger that will facilitate the development of IOTEX’s ecosystem.
IoTeX Saw Sharp Rally In March
This platform’s path to fame has also been an interesting one. To go by its timeline, March proved to be a hot start for them. After the series of Twitter feeds, its project was finally listed under CAKE DeFi (PancakeSwap). This opened the gates of IOTX trading on trading networks of ETH and BSC (Binance Smart Chain). Recent reports also suggest that this platform has plans to partner with DOT (Polkadot) in the future.
On the 2nd of March, their team announced that they have joined the partner network of Amazon Web Services and AWS China. They mention that this integration will help them improve their Pebble Tracker and Ucam technologies.
Analysts also claim that the rise of IoTeX is part of a bigger paradigm shift. According to them, the increase in the value of data has created an environment that is most suited for the evolution of the Internet of Things (IoT). This is a driving force behind the price rally of IoTeX.
