IOTX surges following the integration of IoTeX and Fireblocks

IOTX, the native token of IoTeX, experienced a notable surge on January 14, rising over 5% to reach intraday highs of $0.036. This uptick came as the broader cryptocurrency market also showed signs of growth following positive U.S. economic data. The surge was particularly fueled by the announcement of a major partnership between IoTeX and Fireblocks, an enterprise blockchain platform specializing in digital asset management.

The collaboration marks a significant milestone for IoTeX as it integrates with Fireblocks, enabling the platform to offer its native IOTX token and other IoTeX-based assets to institutional investors and enterprises worldwide. This integration is seen as a step toward bringing institutional-grade security and enhanced accessibility to IoTeX’s ecosystem.

Raullen Chai, CEO and co-founder of IoTeX, highlighted the importance of this development, stating that the partnership would open new liquidity channels and increase adoption of their tokens. He emphasized that this move would help bridge the gap between blockchain technology and real-world decentralized physical infrastructure networks (DePIN).

The partnership is expected to unlock new opportunities for enterprises exploring tokenized decentralized physical infrastructure data. This includes the adoption of machine-based real-world assets and decentralized applications on the IoTeX platform. Furthermore, it positions IoTeX to benefit from increased institutional interest and the adoption of its ecosystem by key users such as custodians, funds, and exchanges.

While the IOTX price saw gains due to this positive news, the token had earlier reached its lowest price since December 20, 2024, raising concerns about potential profit-taking that could limit immediate upward momentum. Nonetheless, the collaboration with Fireblocks is seen as a significant development in boosting network liquidity and accelerating institutional adoption of IoTeX and its native token.