IOTX, the native token of IoTeX, rose slightly on Jan. 14 as the decentralized physical infrastructure network platform announced a major partnership
IoTeX (IOTX) token price rose slightly on Jan. 14 as the decentralized physical infrastructure network platform announced a major partnership with enterprise blockchain firm Fireblocks.
After the latest U.S. economic data caused the broader crypto market to join risk assets in moving higher, the IOTX token surged by more than 5% to reach intraday highs of $0.036. As the DePIN project announced its integration with Fireblocks, an enterprise platform for managing digital assets on the blockchain, IOTX experienced these gains.
Earlier in the day, IOTX had reached its lowest price since Dec. 20, 2024.
As a result, potential profit taking may limit any immediate upside momentum. The news was nevertheless favorable for IOTX because the integration with Fireblocks enables IoTeX to deliver its native IOTX token and other IoTeX-based assets to businesses and institutional investors all over the world.
“We are integrating institutional-grade security and accessibility into the IoTeX ecosystem with Fireblocks, opening up new liquidity channels and enabling the adoption of our tokens,” said Raullen Chai, chief executive officer and co-founder of IoTeX. This further emphasizes our dedication to bridging the worlds of blockchain and real-world DePIN applications.
The partnership gives enterprises the chance to investigate the tokenized decentralized physical infrastructure network data market. According to IoTeX, this covers the use of its platform to adopt machine-based real-world assets and decentralized applications.
The collaboration with Fireblocks is anticipated to boost network liquidity and increase institutional adoption of IoTeX's native token and other ecosystem assets. Among the main users who stand to gain from this integration are custodians, funds, and exchanges who want to utilize the IoTeX and Fireblocks solutions on the DePIN platform.
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