Today, I am going to share my view on the crypto projects which I found interesting.
Fundamental Analysis:
Astronomical growth of internet made a significant impact on in technological sectors. Iotex, is a technology-based project focusing on Internet of things, Machine Fi (Web3 streams), Data security.
IoT Growth Rate:
From 2018 to 2023, entire world spends nearly $3607bn in Internet of Things. Statista chart has been attached below to understand the yearly spend on IoT.
#IoTex Business model quite benefits from this potential growth of IoT. Simply, Iotex aim is to connect physical world data into cryptocurrency. Real economic value for data generator.
Team builds real hardware to connect cryptocurrency with real world data. Ucam, pebbel are some of the products which allow consumer to share real data for the reward of Iotx token.
Web3 streams act as a bridge which connects both a world. Development of web3 streams, leverages the iotex projects to include and improve the development of Dapps in native iotex blockchain(network).
Technical Analysis:
View: Bullish in long term (2-3 years).
Price and Chart analysis:
Technically iotex is in bearish territory. But recent developments in projects and Geopolitical view on cryptocurrency are changing.
In Spot market.
* weekly chart, iotx cross the white line after taking support at $0.0128.
*Immediate resistance is at $0.0215.
*Next Resistance level is at $0.03.
*Volume generations is not huge but bullish momentum may continue.
#Binancefeed #crypto2023 #Binance
