MXC price prediction: What is MXC?
The MXC crypto token is one of the best performing cryptocurrencies over the course of 2022 so far, going up at a time when the market has been falling. But what is MXC? Let’s take a look and see what we can find out, as well as finding out about some of the MXC price predictions that were being made on 1 September 2022.
MXC explained
MXC to USD
One of the most hyped up things in the world of the internet is the upcoming – or, depending on who you talk to, already here – Web 3.0. The idea behind this is all about allowing people to take back control of the internet, at least in theory.
If Web 2.0 was dominated by social media companies giving web users the chance to create their own content in return for their data and information, then Web 3.0 will, again at least in theory, use blockchain technology to allow people to have control over the information they hold and are willing to put out. Talks of being part of, or even being the catalyst of, a fourth industrial revolution may well be a tad premature but, in fairness, Web 3.0 is a concept that has got a lot of people excited, at least, as far as people who get excited about upcoming online developments go.
Anyway, MXC is a blockchain-based platform that aims to tie in with Web 3.0 in an attempt to build what it describes as “a global data network that allows the devices of tomorrow to connect, commit and communicate more efficiently than ever before. Cities, companies and individuals benefit by building the network, or using it to transmit and manage their data.”
The idea is to help wireless communications devices interact with Web 3.0. The thing that the MXC network also wants to do is to treat everyone, whether they are a massive corporation or an individual start-up, equally.
Every blockchain-based organisation needs to have its own cryptocurrency, and MXC has its conveniently-named MXC token, which bears the ticker symbol, MXC. This crypto is designed to be used to pay for access to the MXC network. It can also be staked in return for rewards, and it can also fund transactions on the network, as well as giving holders the right to vote on changes to the system. MXC can also be bought, sold and traded on exchanges.
While the MXC crypto has been around since 2017, the MXC organisation was founded in 2018. It was set up by hardware engineers Sheen Xin Hu, who serves as CEO, and Piotr Brzezinski, who were joined by marketing consultant Aaron Wagener.
It is important to recognise that, since MXC is based on the Ethereum (ETH) blockchain, it is a token rather than a coin. That said, you will hear references to such things as an MXC coin price prediction. While these things are, technically speaking, wrong, if you hear them you should not worry too much, as they are the same thing.
MXC price history
MXC price history from launch to present – Credit: Capital.comAnyway, let’s now cast our eyes over the MXC price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some very important context if we want to either interpret an MXC price prediction or else make one of our own.
MXC first came onto the open market in December 2017, when it was worth a little under one cent. The market at the time was about to enter a substantial bubble, and MXC reached periodic highs of above $0.017 on 10 and 11 January.
The crypto then settled down and ended up trading at below a cent for much of the next two and a half years, including an all-time low of $0.001232 on 4 December 2019. There was a rally in August 2020, when the coin closed 26 August at just over $0.039 before it settled down to a little over a cent for the rest of the year.
Things changed in early 2021, when the cryptocurrency market entered a boom phase and MXC responded well. It went on a rally that saw it reach a high of $0.05436 on 6 April. Things then went back down somewhat and the Great Crypto Day Crash of 19 May saw enough turmoil created around the market that it sent MXC trading down in the summer, with the token spending a good chunk of the next two months below $0.03 before making something of a recovery throughout the last few months of the year to close 2021 at $0.05154.
So far, 2022 has been a year where MXC has outperformed the market. While it has yet to return to the all-time high of $0.1346 it enjoyed on 19 January, the token has, on the whole, done well, going on a bull run in late March and early April, culminating in a daily high of $0.1224 on 9 April.
Market forces took a hold and the depegging of the TerraUSD (UST) stablecoin and the collapse of the associated luna (LUNA) cryptocurrency saw MXC fall to $0.05924 on 12 May. Although there was something of a recovery, more bad news was to come the following month, as the cancellation of withdrawals on the Celsius Network (CEL) crypto lending platform confirmed the bear market, sending MXC down to $0.05952 on 18 June.
Since then, there has been a slow and somewhat steady recovery, with its price on 1 September 2022 coming in at around $0.072. While this was down from the previous day’s high of $0.08229, it still represented a rise of around 20% since the start of 2022. If we consider that the crypto market as a whole has lost around 65% of its value since 1 January, it says something about MXC.
At the time of writing (1 September 2022), there were 2.64 billion MXC in circulation out of a total supply of a little over 2.66 billion tokens. This gave it a market cap, at the time of writing, of about $189m, making it the 137th largest crypto by that metric.
MXC price prediction round-up
With that all over and done with, let’s now take a look at some of the MXC price predictions that were being made on 1 September 2022. It is important to note that price forecasts, especially when it comes to a commodity as potentially volatile as cryptocurrency, are very often wrong. Also, long-term crypto price predictions are very often made using an algorithm, which means that they can change at a moment’s notice.
First, CoinArbitrageBot made an MXC crypto price prediction that suggested it could achieved about $0.0796 in 2022 and could have nearly doubled to around $0.149 in 2023. By 2024, the site said that the crypto could have reached $0.2416, before it went on to make an MXC price prediction for 2025 that it could have risen to a little over $0.39. Whether or not you trust this forecast will depend on whether you think that the token’s price can go up by around 450% over the course of the next three years or so.
Next, CryptoPredictions had an MXC price prediction for 2022 that outlined the token could have closed the year at around $0.0967, before it predicted there could be an upswing to around $0.0991 by September 2023. A year from then, the site said, MXC could have achieved $0.1013, while by September 2025 the crypto could have traded up slightly year-on-year to $0.1017. The site’s 2026 forecast said it could have dropped to $0.0993 in September that year before it went on to close the year at about $0.098.
Meanwhile, PricePrediction had an MXC token price prediction that it could have been $0.078 this year, $0.11 next year and $0.17 the year after that. By 2025, the site said, MXC could have traded at around $0.25, before $0.38 in 2026 and $0.55 in 2027. The forecaster said the token could next be priced at about $0.79 in 2028, before it could have closed the decade and broken through the dollar barrier to have reached $1.13. The site then went on to make an MXC price prediction for 2030 that said the crypto could reach $1.71 that year and $2.48 in 2031.
Finally, WalletInvestor was cautiously optimistic about its MXC price forecast, and said the token could reach $0.0869 in September 2023 and $0.154 in five years’ time.
When considering an MXC token 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 MXC a good investment?
It is not easy to say. Although MXC has outperformed the market over the course of 2022, there is nothing to say that it will not stop its run of form in the near future.
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 MXC 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.
Will MXC go up or down?
It is hard to tell. While the token has performed well since the start of the year, we do not know what is going to happen next. A lot will depend on how big a deal Web 3.0 can either remain or become. Also, it is important to remember that cryptocurrencies can be highly volatile, and prices can go down just as easily as they can go up.
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 MXC 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 MXC?
Whether you should invest in MXC 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.
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