- XYO Foundation continues to revolutionize the world of travel by connecting cars, drivers, and smartphones to precise geospatial location data.
- XYO could gain value massively in the next ten years but projections by 2025 hint on a continued downtrend.
Introduction:
XYO is the network whose sole purpose is to make your driving experience anywhere across the world a memorable one. The decentralized network is governed by the YXO Foundation. Through the foundation members of the community, individuals, developers, as well as enterprises, are able to learn about “possibilities of a location-based data network built on shared incentives.”
XYO Market Update
XYO is one of the cryptocurrencies in the green at the time of writing. The crypto has increased in value by more than 6% against the US dollar in the last 24 hours. As per the data by CoinMarketCap, XYO is trading 4.90% higher against Bitcoin (BTC) and 5.57% higher against Ethereum (ETH). Over the years, XYO has been able to grow to a market capitalization of $3.4 million and holds the 598th position on the market. Moreover, XYO has been able to attract a trading volume of $13,112 in the last 24 hours. CoinMarketCap shows that traders can buy and sell XYO on exchanges such as KuCoin, IDEX, and YoBit.
What is XYO?
XYO is a decentralized cryptocurrency that was incepted in 2017. Over the years the community surrounding this cryptocurrency has grown incredibly, riding on one technology, XY Oracle. The main aim is to provide support to developers around the world and help them understand the benefits decentralized technologies carry using “infinitely scaleable incentivized location data protocol.” The network is able to fund its operations through contributions coming from parties that hold their research with high regard. Donations are accepted in fiat currencies and cryptocurrencies.
On the other hand, XYO is an Ethereum-based token, precisely ERC-20 standard token. The network operates on two principles: cryptocurrency and decentralization. The other key factor of XYO is the community as well as their contributions.
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The Future Of XYO
The world is dealing with a pandemic that has never been faced before. Economies around the world are on the verge of collapse. Social life has gone to a standstill across the globe. The industries that have been kept alive are the ones that provide essential services like food, medical supplies, and security. The entire COVID-19 situation has forced most governments to think outside the box. For example, companies have allowed employees to work from home while offering a flexible work-life balance.
The team at XYO is no different, according to their first-quarter report for 2020. They are working on a solution that will be used inaccurate contact tracing in collaboration with UCSDInnovation. This platform will incorporate the use of software, social innovators as well as creativity. The goal is not only to make a platform for the current pandemics but also other future pandemics and crises. This challenge shows how forward-thinking the development team at XYO is and gives a sneak pic into how relevant it will be in the future.
Innovation
In the quarterly report, the team announced the completion of the COIN App. Besides, the team on this platform continues to come up with “exciting new features,” impressive statistics, and better user experience.
XYO Price Update: XYO/BTC
At the time of writing, XYO is trading against BTC at the price level of 0.0000000287. This follows recovery from major support in 2020 at 0.0000000200. In February, XYO/BTC spiked massively to yearly highs of 0.0000000700. However, the bearish markets across the board mainly triggered by the Coronavirus pandemic saw the cryptoasset embark on a downtrend. At the time of writing, the crypto has corrected above a trendline on the four-hour chart. However, it continues to face increasing resistance at 0.0000000300.
XYO Price prediction
The future price of this project mainly depends on the ability to gain adoption in the mainstream market. Geo-location and navigation is an exciting field, therefore it could be easier to gain traction. Below are prediction from several publications:
WalletInvestor
WalletInvestor says that XYO does not make the cut for long term investment (a year and above). Their Forecast System suggests that there could be a drop in price to $0.000010 USD. Its estimated price in five years (2025) is $0.00171.
DigitalCoinPrice
The platform is bullish on XYO saying that it has the ability to rise to roughly $0.0004 in the next one year. In 2025, XYO is estimated to have a value of $0.00083.
FAQs
How much does XYO cost?
At the time of writing, XYO exchanges hands at $0.000259.
Is XYO a good investment?
If you are looking for a long term investment, XYO fails to make the cut. However, in terms of technology, the network continues to lead the trend especially when it comes to location and navigation data.
Where can I buy XYO?
You will need to sign up for an exchange such as Coinbase and buy either BTC or ETH. You will then be required to move the BTC or ETH to an exchange that supports XYO to buy the tokens.
Will XYO go up?
The network is centered in a very key industry. People around the world are increasingly looking for ways to tap into data relating to locations. Cars will continuously transform to make the driver a better experience. The adoption of XYO is key to its price growth. Therefore, XYO is likely to grow in value in the future.
What is the coin app?
It a platform launched in 2019 to allow individuals to earn in digital assets for validating geospatial location data while traveling and moving around the world.
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