Should I invest in XYO?
XYO Price Prediction 2020-2025 - Invest or Not?
Cryptocurrencies didn't get off to a great start, but over time they grew in popularity. As the first cryptocurrency, Bitcoin's early years were not what its creator intended. It was a new virtual currency that many were afraid of. Over time, as more and more began to understand and see that there might be something in it, we began to see increasing interest.
As soon as bitcoin became more popular, we saw new blockchain networks and cryptocurrencies on the internet. Until 2014 they were all based on the Bitcoin blockchain, and that year the Ethereum network was created. As a smart contract-based blockchain network, Ethereum wanted to improve the blockchain world and fix some bugs that other networks had.
Ethereum laid the groundwork for multiple networks to develop in the future, including XYO, the network, and coin, which I will talk about today. Before I dive into the XYO price prediction, I'll explain what the network is, do an XYO price analysis, and then give you my predictions for the XYO coin price over the next five years.
What is XYO?
XYO, also known as XY Oracle Network, is a blockchain network that provides site verification based on the Ethereum protocol. Many experts say that XYO is the future of geo-location because it works like a GPS.
The network was first released in 2017 and if we look at your website's roadmap we can see that the guys have been pretty busy, which is no surprise. Company XY has existed since 2012 and your main job is developing location technology, which will later be used in many industries where location is a crucial aspect.
The XYO network is made up of four parts that work in combination to get the entire package: Sentinels, Bridges, Archivists, and Diviners. The Sentinels are responsible for retrieving the details of the location using various sources such as sensors, WiFi, bluetooth and radios. The information you collect is sent to the bridges, whose job it is to pass you on to the next in line, the archivists. They sort and clean up the data so that the archivists can store it correctly. The last link in the network are the fortune tellers, who receive the sorted data from the archivists. Your task is to analyze the data and to respond to the inquiries in the network. The last step is to convert this data into smart contracts.
XYO has tons of potential uses, but the one that seems to get the most mention is getting payments for deliveries. Since the main job of the network is to check locations, the seller can create a smart contract and XYO's job is to follow the package and complete the payment once it arrives at the destination. The advantage of this is that the payments are much faster than traditional ones and the seller would get the money almost instantly.
What is XYO Network Utility Token?
As with any blockchain network, the XY Oracle network has its own token called XYO. Since the network is based on Ethereum, the token is based on the ERC-20 protocol.
The main task of the XYO token is to carry out the calculations for the smart contract created in the network.
XYO price analysis for the last few years
The XYO token has been around for a little over two years, and unlike some other coins from that era, the XYO coin price isn't spectacular. One of the reasons for this is that the ICO didn't go that well. You could only sell about 25% of the max offer at this point. Regardless, the price has had a reasonably predictable rise and fall since the token hit the market.
Our XYo price analysis shows something that is not so common with other cryptocurrencies. When the token first hit the market, it started in late May 2018 at a price of $ 0.005. By the end of 2018, XYO has had a pretty bumpy ride with numerous spikes and price cuts. The lowest price for 2018 was $ 0.001 in mid-September while the highest was almost $ 0.006 towards the end of the year. From then on, the price continued to fall throughout 2019.
The highest price it had in 2019 was $ 0.0038 in the first few days of the year, and the price continued to decline, reaching its 2019 lowest price of just over $ 0.0002. It's safe to say that 2019 was not a good year for the XYO coin award. We're seeing some improvements in 2020, but few.
The first significant increase in 2020 will be in February when the price of the coin hits $ 0.0004, followed by a gradual decline that hits the all-time low of $ 0.00014. The price remains relatively stable in the following months until the beginning of summer. Towards the middle of June, the XYO coin price becomes bumpy again with several peaks and tears. In a three-month period, the price manages to break the $ 0.0008 mark in September and begins to decline over the next few months, which leads us to this day. At the time of writing, the price is $ 0.00046 which is quite a bit of the initial price the token was when it first hit the market.
XYO price, a forecast for 2020, 2021, 2022, 2023, 2024 and 2025
Making price predictions isn't an exact science, and when it comes to XYO price predictions, things get even more problematic. The price of each coin depends on tons of factors, and since this is a relatively young coin, there isn't too much information available.
Given the current and starting price, things don't look too good for XYO. The main problem with XYO and why the predictions are not very specific is the use of the network. In contrast to other platforms that already have actual implementations and real use, XYO is a functioning network, but still without real applications. Therefore this prediction is difficult to make.
If things go well and XYO is used to solve an existing problem and it turns out to be good, the price will go up. In that case, I would estimate that the price would reach, and perhaps exceed, the starting price that the token had in 2018. On the other hand, when things don't go as planned, the coin goes down a road with no happy ending. If you have no use in the real world, it can gradually increase before you die.
Based on the little bits of information, I am guessing that XYO will continue to increase its price as things move forward. We may not see it hit 10 cents or a dollar anytime soon, but I believe if you manage to keep it alive over the next five years, the XYO price will hit and exceed $ 0.01. Going higher is not very likely, but it is possible. Imagine if Amazon integrates THE XYo network for competing payments and tracking packages; in which case, you can expect a bigger price spike over the next several years.
To be completely honest, while the XYO network is a fascinating concept, a significant downside is the fact that no one is using it on any more serious and meaningful project. This is the main reason why predicting the price over the next five years is difficult.
Overall, I wouldn't classify it as a good investment, at least not at this point in time. The XYO coin price has come down significantly since it was released, and while we've seen some increases, none of them hold out promising. Across the board, if the network gets real use for a particular project, then things will be different. Having a network that is part of a company that uses it can make this token a good investment, but at this point I would recommend not investing in it.
Bert Kozma is a writer and Editor-in-Chief at Cryptogeek.info. Previously a sales and marketing expert, he has been an author covering cryptocurrency and financial markets for the last decade. He holds a bachelor’s degree in international business from Saimaa University of Applied Sciences.
- How do toppers 2
- How much is 120 crores to USD
- Why do bullets ricochet?
- What's the saddest thing about death
- Can you sleep in hotel lobbies overnight
- What is the purpose of freemasonry
- Which is the best B2B solution
- What does it mean to see someone 1
- Early Christians persecuted other religious groups
- Which is the most developed African country
- People eat hippopotamus meat
- Does someone really enjoy their work?
- Why was I banned from Quora
- How McDonalds Can Affect Your Health
- How can I send money abroad
- Where does your creativity come from
- How is life in Istanbul
- The AWA score is added to the GRE score
- Are WordPress themes safe
- Russia is bigger than the USA
- Is dropshipping profitable in 2019
- Is there time in space
- Is 40 years old or young
- Is Ketodiaet just a bluff