IoTeX price soars 300% after AWS partnership and DeFi integration

The DeFi sector of the crypto industry is seeing a new rise, and it continues to attract projects from the rest of the crypto industry, all wishing to somehow reach it and ride the on-going trend. DeFi is said to be recreating the financial system, and so it is hardly surprising that the crypto industry is reaching out towards it, just like the traditional financial sector, albeit still slowly.

One of the most recent examples of other crypto projects trying to reach DeFi and seeing popularity as a result of these efforts is IoTeX, which recently saw its price soar by 300%.

IoTeX advances and developments cause a major price surge

The world is developing as a whole, and things like mobile devices and internet access are becoming universal. Fortunately, this is all that a person needs to reach out and become a part of the global community. Whether it is finance, social media, online jobs, or simple browsing — the flow of information is becoming all that matters, as data becomes the main currency of the internet.

However, the problem is that users don’t get to control who sees and uses their data. They just have to accept that they are distributing it in exchange for the web’s services. Blockchain technology aims to change that, and projects like IoTeX are specifically focusing on bringing the power over data back to the users.

IoTeX also aims to solve problems like scalability, privacy, and high operational costs, all of which are limiting adoption. First, however, it needs to expand. This is why its developers have been actively seeking out projects and even communities to integrate with and expand the IoTeX ecosystem.

Earlier this month, the project got listed on PancakeSwap, which allowed it access to the Binance SMart Chain, as well as Ethereum network. Next, the project sought out Polkadot, with the integration already underway.

Meanwhile, the team also revealed that it will integrate with Amazon Web Services (AWS). The list goes on, and there are numerous smaller partnerships accompanying these major integrations.

By reaching the DeFi sector and teaming up with AWS and other projects, protocols, and companies, IoTeX attracted quite a bit of attention to itself, and it saw a massive price surge in 2021. On Janaury 11th, its coin’s (IOTX) price was at $0.006487. Three months later, on March 11th, it reached $0.042613, going up by 556%, in total. It saw a correction after hitting this two-year high, but the price is already recovering and going back up.