STEMX price prediction: What is STEMX?
The STEM Exchange is aiming to become a major player in blockchain betting with its stemx token, but what it STEMX? Let’s see what we can find out and also take a look at some of the stemx price predictions that were being made on 21 October 2022.
STEMX explained
One of the biggest online sectors is that of sports betting. While gambling on events and games of chance have been around from pretty much since the beginning of human history, the internet has given those who like to bet a boost with plenty of opportunities to wager their money.
According to Statista, the total value of the sports betting and the online lottery market was $194.63bn and there were 25,240 different sports betting businesses across the world as of July 2022.
When we consider that there are many countries, states and territories where sports betting is not entirely legal, this might well indicate that we are talking about a pretty big business in the places where it is.
Another thing that has become a big deal in the world of the internet is blockchain technology and its spin-off sector, cryptocurrency.
The STEM Exchange is a platform that should allow people access to both worlds. The system, which is set to fully launch on 26 October, will allow people to obtain tokens, based on individual sports teams, and see their values rise and fall in connection with past performances.
It is worth pointing out here that the tokens here are not the same as the many crypto fan tokens that exist and are on the market. Perhaps the most important difference is that the likes of fc barcelona fan token (BAR) are, in effect, endorsed by the clubs, while the things on STEM remain resolutely unofficial.
BAR to USD
Anyway, one thing that remains constant throughout blockchain-based finance is that every blockchain-based network needs to have its own crypto – and STEM has the stemx token, also known by its ticker handle, which is STEMX.
This particular crypto is used to purchase the club tokens, while it can also be used to buy non-fungible tokens (NFTs) on the network. It can also be bought, sold, and traded on exchanges.
Stemx was founded by Belarus-based crypto entrepreneur Pavel Kozichev. It has set out its stall, according to the platform’s whitepaper, to “win 20% of the Russian market in three years of operation, and thus, to have more than 1.8 million users”.
It is important to point out at this stage that stemx is based on the BNB Chain (BNB), formerly the Binance Smart Chain, which means that it is a token, rather than a coin. You might see and hear references to such things as a stemx coin price prediction, but these are, technically speaking, wrong.
Stemx price history
Stemx price history from launch to present – Credit: CoinMarketCapLet’s now take a look at the stemx price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the time it has been on the open market can help provide a useful context. This context may well come in handy if we want to either make a stemx price prediction of our own or else interpret one that is already out there.
The idea behind the STEM platform launched in 2021, and the stemx token first appeared on the open market in November that year. At that time, it was worth about $0.04. While it dropped down to below $0.04 later that month, it rallied to close the year at $0.0471.
While 2022 has been a bad year for crypto, stemx has, ultimately, outperformed the market, even if it followed the market for most of the year.
There was initially some consistency in the first two or so months of the year, with it consistently about $0.04, before things fell away in March before a series of market crashes led to it sinking thoughout the summer, down to a nadir of $0.01783 on 3 September.
After that, though, October saw growing interest ahead of the official launch and at the time of writing on 21 October 2022 it was worth about $0.057.
There was no verified data for how many stemx tokens were in circulation, meaning there was no market cap, but it did have a total supply of 100 million.
Stemx price prediction round-up
With that all said and done, let's now take a look at some of the stemx price predictions that were being made at the time of writing as of 21 October 2022.
It is important to remember at this stage that price forecasts, especially when it comes to a commodity as potentially volatile as cryptocurrency, very often turn out to be wrong. Also, it is worth noting that long-term crypto price predictions are often made using an algorithm, which means that they can change at a moment’s notice.
First, CoinCodex had a rather mixed short-term stemx price prediction for 2022. The site said that the token could have climbed to reach $0.057684 by 26 October before it could have fallen to to $0.047145 on 20 November. Despite this, the site’s technical analysis was bullish with 25 indicators making positive signals opposed to just five making bearish ones.
Next, CoinsKid was more optimistic in terms of its stemx token price prediction. The site said that the crypto could have closed the year at $0.0721 from where it could have reached $0.0722 in October 2023 and $0.0937 a year after that. The site’s stemx price prediction for 2025 said it could have opened the year at $0.1048, could have traded at $0.1993 in October and could have closed the year at $0.2308 – which, if this proved to be correct, could have represented more than double what it was worth in January. The site then claimed that it could have reached $0.3358 in October the following year and could have closed 2026 at $0.4155.
Meanwhile, PricePrediction had a stemx price prediction that said the token could have been worth $0.056 in 2022, $0.081 in 2023 and $0.12 in 2024. By 2025, the site suggested that the stemx price could have stood at $0.18, before it could have gone on to $0.26 the following year, $0.36 in 2027 and $0.55 in 2028. The site thought stemx could then have closed the decade at $0.79 before it made a stemx price prediction for 2030 that saw it break through the dollar barrier and could have reached $1.16 before it could have achieved $1.68 in 2031.
Finally, WalletInvestor was more bearish and downcast in terms of its stemx price forecast, which suggested the crypto could have been in for a difficult 12 months. The site said that, by October 2023, the price of the stemx token could have dropped considerably to just $0.000885.
When considering a stemx 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 stemx a good investment?
It is hard to say. While there has been some interest in the crypto in the run up to STEM’s official launch, it is not known whether or not it can maintain that interest. A lot will depend on how the market as a whole behaves.
Remember, you should always carry out your own thorough research before making an investment, particularly in volatile cryptocurrency markets. Even high market cap cryptocurrencies have proved vulnerable to bear markets. So investors should be prepared to make losses and never purchase more than they can afford to lose.
Will stemx go up or down?
It is difficult to tell. While the CoinsKid site is optimistic and bullish about the token’s chances, the likes of WalletInvestor are far more pessimistic and bearish about what might happen to stemx. Either way, you will have to remember that price predictions are very often wrong, and that prices can go down as well as 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 STEMX 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 stemx?
Before you decide whether or not to invest in stemx, you will need to take a look into not only STEM but other blockchain-based sports betting platforms.
Ultimately, though, whether you should invest in STEMX 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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