AION price prediction: Can the deadcoin resurge?
13:58, 17 October 2022
After a difficult four years, AION, the token of Open Application Network (OAN), is showing signs of recovery, with its price rallying by 42%, along with surges in its network activity.
AION to USD
Open Application Network, the blockchain behind AION, was abandoned by its CEO and chief operating officer in 2020 as they struggled to spur adoption of the network.
Today forecasters, including CoinCodex and DigitialCoinPrice, now harbour conflicting predictions over the resurgence of the network and AION
What is OAN?
Open Application Network (OAN) was created in 2018 when its founders noted the lack of interoperability between blockchains as a main factor for preventing financial innovation.
OAN was designed to be a non-profit public network available to everyone. Its main purpose was to foster an environment for developers to build open-access applications.
Matthew Spoke was the CEO of OAN, before moving on to found his new company, Moves, which offers financial support to gig workers. Ian Chan was the chief operating officer for the network and left in 2020 to join Spoke at Moves. OAN is now being run by its community.
The AION cryptocurrency
AION is the native token that belongs to OAN. It lets developers and investors transfer assets between blockchains with ease. AION also enables the execution of smart contracts and data transfers on other blockchains, including Ethereum (ETH).
Both AION and the OAN blockchain are secured through a combination of the delegated proof of stake and proof of importance consensus mechanisms. This positions OAN as a more scalable and energy efficient network.
However, AION has struggled in recent years as the network has failed to drive adoption, despite scalability efforts.
Strong beginnings
AION went live on 18 October 2017 at $0.616 and saw a gradual rise in its first few months. Binance, the largest cryptocurrency exchange, then listed AION at the end of the year and it closed December at $4.65.
AION's all-time performance
Source: CoinMarketCap
It managed to continue this momentum into the new year, along with the bullish crypto market at the time. AION rocketed to its all-time high of $11.51 on 7 January 2018.
Afterwards, it unveiled details about the OAN’s testnet, which would be gradually released over the coming months. However, AION corrected to the $2 mark in early February.
The cryptocurrency did see another resurgence in April as its mainnet launched. AION reached a high of $4.14 on 24 April, a day before the blockchain went live.
However, it eventually lost these gains and saw a gradual downward trend. AION dipped under its launch price in August and has not been able to recover since.
The end of OAN?
OAN had released quarterly updates between 2018 and 2020. In its last quarterly update, at the end of 2020, Spoke discussed the competitive blockchain industry and admitted OAN struggled with adoption.
Spoke said that OAN and AION were no longer his core prioritees and he was adjusting his focus onto the Moves company.
Fluctuations
AION was unable to come back from its bearish trend, which has plagued the cryptocurrency since the end of 2018. It plummeted to its all-time low of $0.0222 on 18 June 2022.
However, the token has shown signs of recovery recently. At the time of writing, on 17 October, it was trading at $0.051, up 42% in the previous seven days.
This matches a spike in activity on the network. The hashpower has jumped from roughly 300,000 sols/second to a high of more than two million sols/second on 17 October.
AION price predictions
Some recent price predictions have been bullish, though there is considerable doubt, and some predictions are pessimistic. CoinCodex said there was neutral sentiment in its AION crypto price prediction, with 23 indicators bullish and only nine giving “sell” signals. However, its fear and greed index was displaying “extreme fear”.
The site’s AION price prediction for 2022 said thw token would have fallen by 17% to $0.04 on 15 October.
DigitalCoinPrice said AION could have averaged at $0.05 this year and $0.14 in 2025. Its AION price prediction for 2030 gave a maximum price of $0.30.
TechNewsLeader was even more bullish with its forecast. It expected the cryptocurrency to have hit $0.084 in a year and its AION price prediction for 2025 said the token would have climbed to $0.18. By the beginning of the next decade, a maximum price of $1.19 was expected.
PricePrediction gave average prices of $0.065 in 2022 and $0.21 in 2025. Its AION coin price prediction suggested it could have achieved $1.32 in 2030.
When considering an AION token price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and will get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.
FAQs
Is AION a good investment?
AION launched in 2017 as the native cryptocurrency for the Open Application Network. However, the network’s CEO has since abandoned the project and given control to the community.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the AION token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Never invest money that you cannot afford to lose.
Will AION go up or down?
CoinCodex expected a fall of 17% over the next month for AION, whereas DigitalCoinPrice and TechNewsLeader anticipated steady growth.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the AION token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in AION?
Whether you should invest in AION is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose, because prices will go down as well as up.
Markets in this article
Related topics
