For a second straight day, XYO (CCC:XYO-USD) is looking like a clear-cut winner. The crypto network is seeing a vastly increased investor base this morning thanks to yesterday’s impressive tear in value. Now, it’s seeing a new all-time high, and investors are tracking XYO price predictions. Could the XYO crypto, based on the Ethereum (CCC:ETH-USD) network, be destined for greater things going into the next year?
XYO, or the XY Oracle, is a network focused on combining geospatial location tracking and blockchain data. The network uses proof-of-location to create tracking data. This is done through signals that devices connected to the XYO network give off. For example, if two XYO users with smartphones connected to the network pass by each other, the XY Oracle records that data and stores it on a ledger. Nodes record these interactions, which users can then encrypt and bridge to whatever other network they might wish to use the data for.
Through this, there are plentiful use cases for the XYO network, from supply chain tracking to recovering lost items to tracking insured vehicles. In recent days, it appears investors are honing in on these very practical use cases; transaction volume in XYO is steadily increasing by the day. This, in turn, is creating a series of very impressive upward pushes over the last week. As InvestorPlace contributor Chris MacDonald noted yesterday, the XYO token saw a rise of over 50%. It continues this bullish push today, thanks to a gain of over 30%.
XYO Price Predictions: Can XYO Keep Things Rolling?
This series of consecutive double-digit gains is helping to inflate the value of the token to a new all-time high. Indeed, the early morning hours saw the token reach its highest ever price of about 8 cents. Since then, it is leveling out at about 6 cents, which presents a wonderful buying opportunity for XYO bulls.
But what does the future of this token look like? Could it see more of these impressive gains in the near future? Let’s take a look at some XYO price predictions and see if analysts stand on common ground:
- DigitalCoin suggests XYO is good for one more push to an all-time high by the end of 2021. The site is targeting a 9-cent valuation for the token.
- PricePrediction also thinks XYO will go into 2022 with a new all-time high. The site expects the token to reach the 10-cent mark at the close of this year.
- WalletInvestor’s 12-month prediction shows that the site is largely neutral on XYO. It expects the token to trade sideways throughout the next year, remaining at its current 6-cent price through as far as November 2022.
- Gov Capital is similarly neutral, also forecasting a 6-cent price for the token by November 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.