The Internet of Things (IoT) was originally dedicated to making phones, fitness trackers, humidity sensors, and in general all the forms of technology we love that much more useful. However, over time, it has developed to a point where it can elevate even the most boring products to a whole new level.
The future of IoT is more promising than ever and there are projects within the cryptocurrency universe that will further elevate the market. MXC, IoTeX and Ruff are three of the main cryptocurrencies to buy within the IoT sector.
Should you buy MXC?
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MXC is a utility token known as an IoT token, where MXC is building a global data network that enables wireless devices to connect and communicate efficiently over longer distances compared to Wi-Fi or Bluetooth.
MXC was seen trading at $ 0.0321 on Thursday, roughly 35% lower than where it was trading a month ago. However, looking further back to March 27, MXC was $ 0.0288. This means that despite the month-over-month decline, the MXC is higher by around 11% over a longer period of time.
As the world of IoT is revolutionized, we can see it surpass the $ 0.0500 mark. If you can buy MXC at or below $ 0.0320, it could be a solid buy. But if MXC falls below $ 0.0280, it could be a signal to steer clear, as it indicates that buyers had little interest in the $ 0.03 level and are likely expecting a much lower entry point.
Should you buy IoTeX?
IoTeX IOTX / USD is considered the blockchain platform of the future focused on IoT with a high level of scalability, privacy and development capacity.
IoTeX has a current value of $ 0.0335 and similar to MXC, it has sold for the last month by almost 30%.
A month earlier, on March 27, the value of MXC was $ 0.0402. When we move that far back, the decrease in value is only 16.67%.
This is a coin that has the potential to reach higher value as more IoT devices start implementing blockchain technology and as such, if you can get it at $ 0.0330, it could be a solid investment in the long run. But be careful at key levels like $ 0.03, as a drop below indicates that potential support levels did not hold.
Should you buy helium?
Helium HNT / USD is a blockchain-powered decentralized network aimed at IoT devices, and it allows low-power devices to communicate with each other and send data over the network.
Helium was trading near $ 17 on Thursday and is up more than 20% on the day and significantly higher after entering 2021 at around $ 1.30.
While helium has seen great growth since the beginning of the year, investors should still buy it amid the recent strength and part of momentum trading. If you want to wait for a lower price point, we recommend buying at $ 15 and setting a stop loss at $ 14 to better manage risk and exposure to the downside.