IOTX surges amid IoTeX and Fireblocks integration

IOTX, the native token of IoTeX, rose slightly on January 14 as the decentralized physical infrastructure network platform announced a major partnership with enterprise blockchain company Fireblocks.

As the broader crypto market joined risk assets in advancing after the latest US economic data, IoTeX (IOTX) the token surged over 5% to an intraday high of $0.036. IOTX saw these gains as the DePIN project announcement its integration with Fireblocks, an enterprise platform for managing digital assets on the blockchain.

Earlier today, IOTX hit its lowest price since December 20, 2024.

Potential profit-taking could therefore slow down the immediate upward momentum. However, the news turned out to be positive for IOTX, as the integration with Fireblocks allows IoTeX to offer its native IOTX token and other IoTeX-based assets to companies and institutional investors around the world.

“Using Fireblocks, we bring institutional-grade security and accessibility to the IoTeX ecosystem, enabling new liquidity channels and adoption of our tokens. This further highlights our commitment to bridging the worlds of blockchain and real-world DePIN applications. Raullen Chai, CEO and co-founder of IoTeX, noted this.

The partnership opens opportunities for companies looking to explore the decentralized and tokenized physical infrastructure network data market. According to IoTeX, this includes the adoption of machine-based real-world assets and decentralized applications on its platform.

The collaboration with Fireblocks is expected to increase network liquidity and improve institutional adoption of IoTeX’s native token and other ecosystem assets. Primary users who can benefit from this integration include custodians, funds and exchanges looking to leverage IoTeX and Fireblocks solutions on the DePIN platform.