- Overview Of XYO Network
- Features Of XYO
- XYO’s Utility
- XYO Price Prediction: Price History And Technical Analysis
- XYO Price Prediction: By Experts
- Does XYO Have A Future? When Should You Invest?
The future of XYO depends on the underlying utility of its native ecosystem and market-driven volatility. Our XYO Price Prediction indicates a promising future based on our experts’ technical and fundamental analysis. The cryptocurrency space’s complexities make it difficult to forecast prices. However, BlockchainReporter diligently analyzes the data and forecasts the future of these tokens.
XYO cryptocurrency recorded an all-time high of $0.08203 on 6 November, following an impressive bullish momentum. Similarly, the token recorded an all-time low of $0.00009672 over two years, on 13 March 2020.
Overview Of XYO Network
XYO Network, also known as XY Oracle Network, calls itself “a network of the future” on its website. XYO claims to “empower people to participate in the world’s data economy through the validation of anonymous and secure geospatial data.” The Cryptographic location network provides layered location verification across devices and protocols.
A new cryptographic mechanism called proof-of-origin (PoO) & bound witness is integrated with blockchain technology and real-world location-based data collection to establish XYO Network. XYO cryptocurrency allows users and developers of the smart contract and blockchain system to interact with the real world like an API.
Scott Scheper, Arie Trouw founded the Network, and Markus Levin. Trouw founded XY Labs in 2012, a company that produces new mobile and blockchain-related technologies. Scheper, CMO of XYO, is an entrepreneur located in San Diego. Levin became involved in blockchain and crypto mining in 2013. The XYO community was formed in 2017.
|Price Change 24h||-5.19%|
|Price Change 7d||-7.31%|
|Circulating Supply||12,844,821,266 XYO|
|All time high||$0.08203|
|All time low||$0.00009607|
Features Of XYO
XYO can allow users to launch into a protocol of connected devices which provides accurate location information with the help of a chain of the cryptographic protocol. Users can initiate transactions called ‘Queries’ which are used for recouping location data from any blockchain with smart contract functionality.
- Diviners have a decentralized consensus mechanism, which can be observed with the help of an immutable public blockchain called XYO main chain.
- XYO is competent to interact with smart contract capable, public blockchains such as Stellar, Ethereum, Cardano, EOS, and NEO.
- XYO app is available on both android.xyo forecast. The Network has a ready-to-use SDK: Node JS core SDK, Kotlin core SDK, and Swift core SDK
Sentinels are sentinel or physical devices in the XYO that collect location information. When two sentinels are placed near each other, they will initiate the signal that they are in the exact location, and this interaction is called bound witness and when the information provided by the sentinel meets the specified criteria of the Network and is approved as an answer; then, sentinels will be rewarded by XYO tokens.
Bridges play a role in the interconnection between sentinels and archivists. It is a node that hunts for witness interaction. Nodes can be operated using bridge devices and smartphones.
Diviners act as the leading role in uploading data into smart contracts. Diviners collect the information transferred from archivists; it analyzes them and provides accurate scores to generate them as answers.
XYO Price Prediction: Price History And Technical Analysis
Based on XYO’s price history and ongoing crypto-winter, many cryptocurrencies are facing a downfall and bleeding amid weakness.
XYO price is currently trading near $0.006 with a total market cap of $228,912,579.03 and a circulating supply of 12,844,821,266 XYO. The historical data indicates an all-time high of $0.08203 on 6 November 2021 and an all-time low at $0.00009607 on 13 March 2020. Looking at the past performance, an upward journey of the coin began in November 2021. From December 2021, the price of XYO showed a bearish signal, dropping to half its highest price, and the breakdown is unable to find support at any level.
Looking at major support and resistance levels, immediate resistance is at $0.007, and any rise from this level can take XYO price to the resistance level of $0.016. Bulls may seek an entry opportunity above this, and major resistance is placed at $0.022; above this level, investors can think of a long-term investment option for an astronomical return.
On the downside, immediate support is $0.005, and if it is broken, then we can see more downfall to $0.003. We expect this coin to face a negative momentum due to this crypto winter in the upcoming months.
By the end of 2025, we can see its price at $0.05, to sum up five-year XYO price prediction, the average price is increasing, and future results are convincing. However the $1 mark is way too far and we estimate XYO can touch this mark in the next fifteen years.
XYO Price Prediction: By Experts
According to Wallet Investor, XYO could rise to a price of $0.008 in twelve months. However, their predictions also indicate a sharp decrease in XYO value which could lead to a market price of $0.00565 within the next few days.
Trading Beast predicts that XYO may close this year with a maximum price of $0.0117, and a minimum of $0.00798, and an average price of $0.00937. By July 2023, XYO can touch as high as $0.0129, with the lowest market price being $0.00873.
Does XYO Have A Future? When Should You Invest?
As per our XYO Price Prediction, this coin is a good investment. XYO has unique blockchain applications compared to other projects based on the fundamental analysis of projects as well as the technical details of the company. A price of $0.005 can be a good deal to add this coin to the portfolio.
The XYO network is expected to include certain product features such as expanded gamification, ranged avatars, and so on in the coming years. As hinted by the co-founder, XYO could be a venture into the Metaverse; if implemented, these developments could significantly increase XYO’s value. However, our prediction is optimistic for XYO’s long-term future. One should take experts’ opinions before investing in it.