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Sologenic price prediction: Strong gains for SOLO

By Raphael Sanis

17:38, 12 October 2022

Sologenic's logo in front of a world map
Sologenic is a decentralised protocol that is leveraging XRP’s ledger – Photo: Shutterstock

Sologenic is looking to take the decentralised finance (DeFi) world by storm with its tokenised ecosystem.

However, SOLO, Sologenic’s token on the XRP Ledger (XRP), has struggled with this year’s bear market.

It is now showing signs of recovery, having risen more than 150% in the past month, after Sologenic’s non-fungible token (NFT) marketplace integrated the new Ripple standard.

What is Sologenic?

Sologenic is a finance protocol based on the XRP Ledger that is hoping to disrupt the asset trading industry with its tokenised securities, cryptocurrency and NFT offerings.

The SOLO core team, also known as Sologenic.org, is an independent group of developers creating this decentralised ecosystem. They claim to be achieving this through leveraging Sologenic’s technology.

Sologenic.com is the flagship product of this ecosystem. It tokenizes a range of different assets, including stocks and ETFs (exchange-traded funds).

Its website said: “It facilitates investing and trading between crypto and non-blockchain assets such as stocks, ETFs, and commodities from top 30+ global stock exchanges.”

Other products from the SOLO core team include a decentralised exchange (DEX), NFT marketplace and a brokerage solution for financial institutions.

Bob Ras is the co-founder and CEO of Sologenic. Based in Dubai, he is also one of the founding members of the Coreum layer one blockchain, which launched earlier this year.

The SOLO token

SOLO is the native token of the Sologenic platform, which exists on the XRP Ledger and BNB Chain (BNB). Since being developed in 2020, according to Sologenic, SOLO has seen growing utility across the ecosystem.

For example, the Sologenic DEX is one of XRP’s most popular gateways. The core development team decided that SOLO holders should have a say over the exchange and introduced governance features.

The DEX charges its trading fees in the form of SOLO. It then burns 100% of these transaction fees, bringing a deflationary mechanism to the token.

Holders of the sologenic cryptocurrency can also stake their tokens and participate in its liquidity reward programmes. With numerous different models, investors can earn up to a claimed 20% annually.

SOLO’s price history

After launching at $0.26 on 6 March 2020, SOLO saw steady growth in its first year that resulted in a high of $1.94 on 16 April 2021

BTC/USD

65,943.35 Price
-0.010% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

DOGE/USD

0.13 Price
+0.310% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

SOL/USD

174.74 Price
-0.210% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,443.94 Price
-1.270% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

The price rise came after the release of the Sologenic DEX at the beginning of April 2021.  It accompanied this launch with a $200 giveaway for those retweeting its post.

SOLO eventually lost this momentum and gradually declined over the following months. The cryptocurrency fell to its all-time low of $0.054 on 28 October.

Its most significant breakout to date took place in the next few months, however. The DeFi ecosystem announced it was airdropping 200 million SOLO to holders of XRP and its token. This promotional event took place on the lead-up to its NFT exchange going live at the beginning of 2022.

SOLO rocketed to its all-time high of $6.63 on 2 December. But it soon lost these gains and fell with the 2022 bear market, falling below its launch price in June 2022 and to a 90-day low of $0.12 on 4 October.

However, it has rebounded from this low. As of 12 October, it was trading at $0.39, up an impressive 145% over the past seven days.

This price rise came after Sologenic’s NFT marketplace introducedg the new XRP token standard. Investors can now migrate their SOLO NFTs to the XLS-20 standard.

Sologenic price prediction

As of 12 October, site making SOLO price predictions were conflicted on whether it could continue this resurgence.

At the time of writing, CoinCodex said the token had neutral sentiment, but the fear and greed index was displaying “extreme fear”. Its sologenic price prediction for 2022 suggested the price could have grown by 123% to $0.89 on 11 November.

WalletInvestor’s sologenic crypto price prediction said it was a bad investment and would fall to $0.01 in a year’s time.

On the other hand, TechNewsLeader expected SOLO to hit $0.51 in a year and $1.56 in five years’ time. Its sologenic price prediction for 2030 gave a maximum price of $7.14.

Similarly, PricePrediction anticipated SOLO would average out at $0.42 next year. Its Sologenic price prediction said it could have climbed to $0.91 and achieved $6.51 in 2030.

DigitalCoinPrice’s sologenic coin price prediction suggested a more gradual rise for the token. The site said SOLO would have averaged out at $1.05 in 2025 and $2.21 at the beginning of the next decade.

FAQs

Is sologenic a good investment?

Sologenic is a decentralised ecosystem that has built an exchange, NFT marketplace, and a brokerage solution. But its native SOLO token has struggled with this year’s crypto crash.

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 SOLO 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 sologenic go up or down?

It depends. WalletInvestor said it was a “bad” investment and would plummet over the following year. On the other hand, TechNewsLeader and DigitalCoinPrice anticipated 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 the sologenic token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Past performance will not guarantee future success. Do no stake money you could not afford to lose

Should I invest in sologenic?

Whether you should invest in SOLO 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 do not put at risk any money you cannot afford not to get back, because prices will go down as well as up.

Markets in this article

XRP/USD
Ripple / USD
0.61067 USD
0.00665 +1.110%
BNB/USD
Binance Coin / USD
589.46 USD
0.51 +0.090%

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