XYO Price Prediction 2020 - 2025

Nov 12, 2020 0
XYO Price Prediction 2020 - 2025
  1. What is XYO?
  2. What is XYO Network Utility Token?
  3. XYO Price Analysis for the Past Several Years
  4. XYO Price Prediction for 2020, 2021, 2022, 2023, 2024 and 2025
  5. Conclusion

Cryptocurrencies didn’t have the best start, but in time they began to increase in popularity. As the first cryptocurrency, Bitcoin’s first few years were not as its creator intended them to be. It was a new virtual currency that many were afraid to use. In time, as more and more began to understand and see that there may be something to it, we started to see an increase in interest.

As soon as Bitcoin started to become more and more popular, we began to see new blockchain networks and cryptocurrencies on the internet. Until 2014 all of them were based on the Bitcoin blockchain, and in that year, the Ethereum network was created. As a smart-contract-based blockchain network, Ethereum aimed to improve the blockchain world and fix some flaws that other networks had.

Ethereum set the ground for developing multiple networks in the future, among which is XYO, the network, and coin that I’ll be talking about today. Before I dive into the XYO price prediction, I will explain what the network is, make an XYO price analysis, and then give you my predictions for the XYO coin price in the next five years.

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What is XYO?

XYO, also known as XY Oracle Network, is a blockchain network offering verification of locations built on top of the Ethereum protocol. Many experts say that XYO is the future of geo-location because it works something like a GPS.

The network was first released back in 2017 and looking at their website’s roadmap, we can see that the guys have been quite busy, which is no surprise. The XY company exists since 2012, and their main occupation is developing the location technology that is later used in many branches where the location is a crucial aspect.

The XYO Network has four parts that work in combination to get the full package: Sentinels, Bridges, Archivists, and Diviners. The Sentinels are responsible for getting the details about the location using various sources like sensors, WIFI, Bluetooth, and radios. The information gathered from them is sent over to the Bridges, whose job is to pass it over to the next in the line, the Archivists. They sort out and clean up the data so that it can be stored correctly by the Archivists. The final link in the network is the Diviners, who get the sorted data from the Archivists. Their job is to analyze the data and answer the requests on the network. The final step in the process is the conversion of that data into smart contracts.

XYO has tons of potential applications, but the one that seems to be mentioned the most is getting payments for deliveries. Since the network’s primary task is to verify locations, the seller would be able to create a smart contract, and XYO’s job would be to follow the package and complete the payment once it gets to the destination. The advantage of this is that the payments will be much faster than traditional ones, and the seller would get the funds almost instantly.

What is XYO Network Utility Token?

As with every blockchain network, the XY Oracle Network has its own token, and this one is called XYO. Since the network is Ethereum based, the token is based on the ERC-20 protocol.

The XYO token’s main task is to make the calculations for the smart contract created on the network.

XYO Price Analysis for the Past Several Years

The XYO token has been around for a little over two years, and unlike some of the other coins from that era, the XYO coin price is not something spectacular. One of the reasons for that is the ICO didn’t go so well. They only managed to sell about 25% out of the maximum supply at that time. Regardless, the price had a reasonably predictable increase and decrease since the token came to the market.

Our XYO price analysis shows something that is not so common with other cryptocurrencies. When the token first came on the market, it started its life at a price of $0.005 at the end of May in 2018. Till the end of 2018, XYO has a pretty bumpy ride with numerous spikes and drops in price. The lowest price for 2018 was $0.001 in mid-September, while the highest was almost $0.006 near the end of the year. From that point on, the price continued to fall throughout 2019.

The highest price it had in 2019 was $0.0038 in the first days of the year, and the price continued to drop and reached the lowest price of 2019 of a little over $0.0002. It’s safe to say that 2019 was not a good year for the XYO coin price. In 2020 we start to see some improvements, but only just.

The first significant spike in 2020 is in February when the coin’s price reaches $0.0004, followed by a gradual decrease reaching the all-time low of $0.00014. The price remains relatively steady in the following months all the way until the beginning of summer. Around mid-June, the XYO coin price starts to get bumpy again with multiple spikes and drops. In a period of three months, the price manages to pass the $0.0008 mark in September and starts to decrease in the next few months, leading us to today. At the time of writing, the price is $0.00046, which is quite a lot off from the initial price the token had when it came to the market.

XYO Price Prediction for 2020, 2021, 2022, 2023, 2024 and 2025

Making price predictions is not an exact science, and when it comes to XYO price prediction, things get even more problematic. The price of every coin depends on tons of factors, and since this is a relatively young coin, there isn’t too much information to use.

Taking into consideration the current and initial price, things are not looking too good for XYO. The main issue with XYO and why the predictions are not very concrete is the network’s usage. Unlike other platforms that already have actual implementations and real-world use, XYO is a working network, but still without any real-world applications. That is why this prediction is challenging to make.

If things go well and XYO starts to be used to solve an existing problem and proves to be good, the price will rise. In that case, I would estimate that the price would reach and maybe pass the initial price the token had back in 2018. On the other hand, if things don’t go as planned, the coin is headed down a road with no happy ending. Not having any use in the real world may lead to some gradual increase before going dead.

Based on the little information, I estimate that XYO will continue to increase its price as things are headed. We may not see it reaching 10 cents or a dollar any time soon, but I believe that if they manage to keep it alive in the next five years, the XYO price will reach and pass $0.01. Going higher than that is not very likely, but it is possible. Imagine if Amazon incorporates XYO’s network for competing payments and tracking packages; in that case, you can expect to have a bigger increase in price over the next several years.

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Conclusion

To be completely honest, even though the XYO network is a fascinating concept, a considerable disadvantage is the fact that no one uses it for a serious and more significant project. That is the main reason why predicting the price in the following five years is difficult.

Overall, I wouldn’t classify it as a good investment, at least not at this time. The XYO coin price has dropped significantly since it was released, and even though we have seen some increases, none of them are promising. Down the line, if the network gets a real-world usage for a specific project, then things will be different. Having a network that is part of a company utilizing it is what can make this token a good investment, but at this time, I would recommend against investing in it.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.


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