Biconomy provides its users with a scalable, non-custodial infrastructure to consume Web3 applications through a streamlined transaction process. Through Biconomy, users can connect via gas-free transactions.
Biconomy has integrated the concept of meta transactions into its network, which means that users can conduct a transaction even if they do not have enough balance in their account (i.e. a zero-balance account). In such a scenario, a third party pays the cost of user behavior.
BICO is its native token and is listed on Binance. Let’s briefly discuss its use cases:
- Being a governance token, BICO can be used as part of the governance protocol.
- BICO holders can act as node operators to be compensated in $BICO.
- BICO can be wagered and used to offer liquidity to earn potential rewards.
- Delegates can bet their $BICO and receive rewards in return.
- token holders can vote on various issues affecting the Biconomy network.
What features distinguish Biconomy?
- Biconomy users can make a transaction even if they have zero balance in their accounts.
- Its architecture helps users connect through gas-free transactions, that is, they do not need to pay for gas.
- Biconomy makes transfers much faster by preventing blockchain complexity such as network switching.
Web 3.0 is another big news in the market after Metaverse. Therefore, being a Web3 application, Biconomy has a great future to grow. Also, it is listed on Binance, which definitely adds more reputation attached to it. The reason is that Binance is one of the largest cryptocurrency exchanges in the world, and not all cryptocurrencies can afford to be listed on that platform.
In addition, Biconomy’s gas-efficient infrastructure is much better than Ethereum’s blockchain (due to its high gas tariffs) and, therefore, a greater benefit for the entire network.
Biconomy Price Prediction 2023: Competitor Analysis
Biconomy is an energy-efficient infrastructure that provides a solution for Ethereum’s high gas tariffs. One of its main competitors is Cardano, which is again very energy efficient because it does not rely on cryptocurrency mining.
|What does he do?||It is a cross-chain relayer infrastructure that helps avoid blockchain complexities for users.||It is a decentralization-based PoS blockchain that aims to provide energy-efficient alternatives to the Ethereum blockchain|
|Transaction fee||It allows users to transact even without a gas tax.||ADA 0.16 per transaction|
Considering all the factors, it seems that Biconomy is a weak case for investment.
Can Biconomy reach $1000?
To reach 1000 dollars, Biconomy must go up 2400 times. At $1000, Biconomy’s market cap would be $459 billion, which is more than Bitcoin’s market cap today. If biconomy increased by 50% each year, it would take 20 years to reach $1000. In addition, biconomy does not appear to offer significant differentiation.
Taking into account all the above factors, it is safe to conclude that Biconomy will not reach $ 1000.
Can Biconomy reach $10?
The BICO token is currently priced at $0.40; So, it has to grow 25 times to reach a price level of $10.
In addition, the price of BICO was the highest during its launch and later began to fall. Its second all-time high was $5.75 which it reached in December 2021. BICO’s price increased 1.8 times in less than a month in December 2021.
Considering BICO’s 1.8-fold growth in a month (to simplify), we can say that the price of Biconomy can reach $10 in about 14 months (just over a year).
However, it is
not practical for BICO to reach $10 in this shorter time (as calculated), instead, it will take longer due to the difference in economic conditions than in previous times (that is, the time when it reached the highest value).
Will Biconomy reach $100?
The Biconomy token needs to grow 250 times to reach $100, considering its current market price of $0.40.
Also, since it showed 1.8x growth in a month in earlier times to reach the highest value of $5.75, BICO tokens need a minimum of 138 months (just under 12 years) to reach a price level of $100.
Again, it may take longer depending on the market conditions of macro and microeconomic factors during that period.
Biconomy Price Prediction 2023, 2025 and 2030
- Bico Biconomy Price Prediction 2023 is $0.636
- Bico Biconomy Price Prediction 2025 is $0.970
- Bico Biconomy Price Prediction 2030 is $4.4
staking means that users can earn more BICO tokens to secure the Biconomy platform. In addition, users will have to wait 21 days of the recovery period to be able to withdraw their staked tokens.
When BICO holders deposit their coins into the staking module, they get the tokenized position, i.e. stkBICO. This tokenized position can be transferred as an ERC-20 token after a cooling period of 21 days.
To bet BICO tokens, users need to connect their wallet with the Biconomy interface and then can participate directly in the staking process to earn rewards.
Where can I buy BICO tokens?
BICO tokens can be purchased on numerous centralized and decentralized exchanges including Binance, Coinbase, KuCoin, Kraken, Gemini, Gate.io, Bybit, OKX, Crypto.com, WazirX SushiSwap, and Balancer.