XYO is a location data platform that leverages blockchain technology to ensure that location data is tamper-proof and can be used for various purposes such as navigation, location-based services, and supply chain management. In the current system, smart contracts are based on oracles that have a single source of truth and a single source of error, similar to the vulnerability in current crypto-location technologies that are off-chain devices that report location.
The XYO network is a protocol of connected devices that provides high certainty on location data through cryptographic proofing. Users can retrieve location data on any blockchain platform with smart contract capabilities by issuing transactions (queries). Network aggregators listen to these questions, retrieve answers with the utmost precision from a decentralized set of devices, reach a consensus on the best answer, and feed it back into the smart contract.
XYO Tokens
The XYO token is used as a means of payment within the platform for accessing and using location data. The XYO network uses XYO tokens to incentivize the provision of accurate and reliable location data. A token holder sends a query to the network and pays a gas fee (in XYO tokens) based on the amount of data required for the response. The cost of the query is determined by the required data and market dynamics.
Overall, we think XYO is very niche and has limited use cases. This is, at best, a moderate case for investment.
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XYO Price Prediction: Will XYO Coin reach $1?
XYO must increase 142 times to reach a price level of $1. Note that the XYO coin reached its all-time high value of $0.07 in November 2021. The XYO coin has grown 350 times in 1 year to reach its highest price of all time. Therefore, you can consider growing 29.2 times in a month during that time. Thus, XYO can reach $ 1 in less than 5 months, if we go from its growth of 29.2 times in a month.
However, market conditions in 2021 were completely different from the current situation. There was relatively more liquidity and less inflation during that period. Therefore, we cannot expect XYO to show a growth trend similar to that of 2021. So, the XYO coin will definitely need more than 5 months to reach $1 once the market conditions of liquidity and other economic factors prove to be in favor of the cryptocurrency market.
At 25% per annum, XYO would take 23 years to reach $1, an impossible goal.
Can XYO reach $10?
The XYO coin requires you to grow 1,428 times to reach a price level of $10, taking into account its current market price of $10. So, considering a growth of 29.2 times in a month, we can say that XYO coins need almost 49 months (about 4 years) to reach a price level of $ 10.
However, XYO coin will definitely need more than 4 years to reach $10 considering the difference in macroeconomic factors and liquidity conditions of different times. Therefore, we can say that reaching $ 10 is not very impractical for the XYO coin, but in reality it takes much longer (maybe a few years) to reach that point.
Can XYO reach $100?
XYO needs to grow about 15,873 times from its current market price to reach a price level of $100.
In addition, XYO reached its all-time high price of $0.05 in November 2021, where it grew 12.5 times in just four months (i.e., from its lowest price of $0.004 in July 2021). Thus, it grew 3.13 times in a month.
Therefore, XYO will need about 5,071 months (more than 422 years) to reach $100. So, it is not very practical for XYO to reach $100 in the near future.
XYO Price Prediction 2023, 2025 and 2030
XYO Price Prediction 2023 is $0.0103
XYO Price Prediction 2025 is $0.0214
XYO Price Prediction 2030 is US$ 0.121
How to buy XYO tokens?
XYO tokens can be purchased in three simple steps:
- The first step is to choose the crypto exchange from which you want to buy XYO tokens.
- The second step is to select the payment method (for example, using fiat currency or with other cryptocurrencies).
- The third step is to swap and store the XYO tokens in a wallet or in the crypto exchange itself.
Where can I buy XYO crypto?
XYO cryptography can be purchased on many popular decentralized and centralized crypto exchanges, including Coinbase, KuCoin, Uniswap, Sushiswap, Gate.io, Huobi, Crypto.com, MEXC, Bitvavo, and Hotbit.
