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MileVerse price prediction: Can the mileage platform take-off?

By Raphael Sanis

Edited by Charlie Mellor

15:06, 19 October 2022

Representation of a jet airliner flying out of a generic credit card
MileVerse is using cryptocurrencies to improve the mileage rewards system – Photo: Shutterstock

The MileVerse crypto platform is looking to make mileage rewards more accessible and effective. It is using cryptocurrencies to achieve this through its point-based MVP stablecoin and its utility token MVC.

But MVC – which is based on the Ethereum (ETH) blockchain – has struggled in this year’s bear market, despite recent strategic partnerships.

But what do online forecasters have to say in terms of an MVC price prediction? Let’s find out.

ETH to USD

What is MileVerse?

Mileage credit card rewards for purchasing flight tickets are riddled with problems, according to MileVerse. Users are held back by validity periods, restrictions on available points, and the places where they can spend points. MileVerse’s whitepaper said:

“Eventually unused mileage increases further, and consumers have a negative perception of mileage itself due to dissatisfaction that they cannot freely use their assets.”

The MileVerse crypto platform is on a mission to solve this broken mileage system. It is giving investors a chance to redeem miles and spend it like cash.

Meanwhile, it is also looking to attract businesses through its affiliated store affiliation programme. It said companies have a chance to eliminate debt, reduce costs, improve marketing efforts and attract new customers through this programme. Its whitepaper continued:

“MileVerse provides a service that allows customers to exchange and integrate mileage in partnerships with various companies”

William Jung is the CEO of this crypto rewards platform. Based in Seoul, he was previously the CEO of AIO Global, a Korean cosmetic company.

A two token system

The MileVerse platform has employed a dual token mechanism. MVP is an ERC-20 token that was designed to be scalable and stable. Its price is pegged to the price of KRW1 – the Korean won.

After users integrate their mileage on the platform, they are rewarded with MVP in the MileVerse app. This can then be used throughout affiliated stores with few restrictions.

Alternatively, investors can switch their points for MVC, another Ethereum (ETH) based cryptocurrency. This is listed on various exchanges and can be exchanged for cash. MileVerse has its own exchange app making it more accessible for users to swap between MVP and MVC.

MVC’s price history

The MVC token launched on 25 November 2020 with an opening price of $0.003 and fluctuated around this price for the rest of that year.

The mileage cryptocurrency saw its largest spike to date in the first quarter of 2021. MVC rocketed from $0.007 at the beginning of March 2021 to its all-time high of $0.57 on 12 April.

DOGE/USD

0.14 Price
+7.970% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BTC/USD

67,440.65 Price
+0.500% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

SOL/USD

175.10 Price
+2.440% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

XRP/USD

0.60 Price
+3.150% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

This surge followed the listing of MVC on the South Korean cryptocurrency exchange, Bithumb. The ERC-20 token was added with a KRW pairing. An airdrop event was also revealed for those trading the pair on Bithumb.

MVC almost immediately corrected after this high and by 17 June 2021 fell to the $0.02 mark. Apart from a couple of minor uplifts in price (a daily high of $0.039 on 16 August and $0.065 on 24 November), it has seen a gradual decline since.

MVC all-time performance

Source: CoinMarketCap

In early September 2022, it saw a slight rise to a daily high of $0.008 on 8 September after MileVerse signed a Memorandum of Understanding with E-Daily. A Medium post said:

“Through close cooperation, MileVerse will be introduced to the wide corporate network of E-Daily for opening new pipelines of communication with brand’s representatives. E-Daily’s CEO also hopes for synergy and integration of payment and point exchange of Mileverse as a fintech solution technology.”

But the MVC token was not able to harness this momentum for long. As of 19 October, it had slumped to $0.005, down 8% over the past month.

Mileverse price prediction round-up

At the time of writing, forecasters were conflicted over the MVC price prediction. WalletInvestor said it was a “bad” investment and anticipated a downward spiral. Its mileverse price prediction for 2022 suggested it could have plummeted to $0.0003 in a year.

Meanwhile, DigitalCoinPrice expected a gradual rise. It said MVC could have averaged $0.005 this year and $0.01 in 2025. Its mileverse price prediction for 2030 outlined it could have achieved an average value of $0.037 that year.

Similarly, Price Prediction said it could have climbed to $0.006 this year. Its mileverse price prediction for 2025 anticipated it could have hit $0.017 that year – and could have gone on to $0.12 in 2030.

The TechNewsLeader mileverse coin price prediction suggested it could have reached a maximum price of $0.009 in a year and $0.028 in five years’ time. By 2030, the website predicted MVC could have climbed to $0.15.

When considering a mileverse crypto price prediction, it’s 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 do 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. And never trade with money that you cannot afford to lose.

FAQs

Is mileverse a good investment?

MileVerse is on a mission to transform the mileage rewards system with its crypto platform. But its MVC reward token has plummeted over the past year.

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 MVC 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.

Will mileverse go up or down?

It depends on who you ask. WalletInvestor has made a bearish mileverse price prediction, whereas TechNewsLeader expected strong gains.

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 mileverse 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 mileverse?

Whether you should invest in MVC 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 can go down as well as up.

Markets in this article

ETH/USD
Ethereum / USD
3527.04 USD
18.64 +0.530%

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