Coinbase (NASDAQ:COIN) is making waves with news of its newest additions to its trading floor. One in particular, the XYO (CCC:XYO-USD) network, is benefiting in a huge way today. Growing from a fraction of a cent to a current price of over three cents, the buy-in is negligible, and the gains have been huge. It’s no wonder then that investors are seeking out XYO price predictions.
Coinbase is one of the most popular crypto exchanges in the U.S., and it has had the benefit of being the first publicly traded crypto exchange on Wall Street. When a crypto gets added to Coinbase’s exchange floor, it’s a big deal; news of a crypto addition usually precipitates big gains for the coin. On Wednesday, the exchange announced a token called XYO will begin trading on its app today. Of course, it has gained an impressive 68% on its first day on Coinbase. Trading volume is also up 300%, thanks in large part to the token’s cheap buy-in price.
XYO is a network that is as complicated as it is lucrative. The XYO network is an oracle network whose purpose is to anonymously collect and validate geospatial data. There are four different main products driving the network. The Sentinel allows network-enabled devices that come close to one another to record their locations to the blockchain. This tech allows for the movement of physical goods to be more accurately and permanently tracked.
Other products, including the Bridge, Archivist and Diviner, can be used to further validate events that happen in specific geospatial locations and record the data to a ledger. The network is very cutting-edge, and, as such, it’s also quite complicated. Luckily, the network puts an emphasis on educating users on use cases for its products.
XYO Price Predictions: Is XYO Bound to Continue Its Surge?
The network is causing quite the stir with its jaw-dropping gains. Can it keep this up though? Or is the hype going to die out? Let’s take a look at some XYO price predictions to see what analysts think about the future of the token:
- WalletInvestor does not see the token growing past its current value. The outlet predicts that by September of 2022, the token will still be worth just three cents.
- DigitalCoin is making a long-term prediction for XYO. By 2025, the outlet says XYO will be worth just over 10 cents per token.
- Gov Capital is one of the more bearish predictors of XYO prices. The site is pegging the token for a loss, pricing it at just over two cents in September of next year.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
