XEN price prediction: What is XEN?
The native token of the Xen Crypto platform launched in 2022, but what is XEN?
Let’s take a look and see what we can find out about it, and also examine some of the XEN price predictions that were being made as of 19 December 2022.
What is XEN?
In the world of cryptocurrency and blockchain technology, there are, ultimately, two different kinds of crypto, although where the dividing line lies is somewhat debatable.
One is the difference between coins and tokens. Just so you know, every crypto is a token, but not every token is a coin. This seems like a minor distinction if you don’t know your crypto but, if you do, it’s important.
Put simply, coins are based on their own blockchain, while tokens are based on someone else’s. While this can lead to some naming confusion – because cryptos with coin in their name are sometimes anything but, and there is the question of defining the few blockchain-less cryptos such as ripple (XRP) – this is a good technical split.
Another one is between bitcoin (BTC) – the original, best known and largest cryptocurrency – and altcoins, which are, to use the simple definition, every other coin that isn’t bitcoin. Indeed, it could be argued that any crypto, even tokens, can be described as an altcoin by that definition.
BTC to USD
Another divide in the world of cryptocurrency comes between that of the larger cryptos and the smaller ones. There is a theory that this split is somewhat artificial. After all, there are plenty of cryptos that have been a pretty big thing and then ended up fading away into obscurity. Likewise, there are many cases of coins or, more likely, tokens that have been somewhere in the distant background, only to have shot to prominence for whatever reason.
One issue here is with the way in which investors and potential investors treat larger and smaller cryptos. Bigger cryptos often tend to attract investors who hold onto them for a while before selling them. When enough people start selling, other investors tend to worry about the price, which – if market forces hold true – will have started dropping, leading to the classic pump and dump performance.
On the other hand, smaller cryptos often just sit there, with the majority of the coins and tokens held by founders and early adopters, swayed to a greater extent by the performance of the crypto market as a whole.
Xen Crypto is a platform that is aimed at solving this problem. The scheme’s own native token, XEN, is designed to be open, transparent and fair.
The system allows people who have Ethereum (ETH) wallets to mint XEN with them. There is no limit to how many XEN can exist, although, to quote the system’s whitepaper: “XEN has no cap, however as more and more people join and participate in minting, it will be harder to generate more XEN due to naturally sloping adoption curve which is logarithmic in nature. This will make XEN tokenomics disinflationary in nature.”
Xen Crypto was founded in 2022 by a Jack Levin, who claims to have worked for Google before becoming interested in cryptocurrency. While there is a Jack Levin who worked for the tech giant in the 1990s, there has been some speculation as to whether this is the same person, or someone else pretending to be him.
It is important to remember that, since XEN is based on the Ethereum blockchain, it is a token rather than a coin. You might see references to such things as a “XEN coin price prediction,” but such terms are, technically speaking, incorrect, as explained above.
XEN price history
XEN price history from launch to present – Credit: Capital.comLet’s now cast our eyes over the XEN price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the little time that it has been around can help give us some important context if we want to either make or interpret a XEN price prediction.
XEN first came onto the open market on 9 October 2022. It opened at $0.006148, but its price then spiked due to growing interest in the token and it reached a record high of $3.68 later that day – which currently stands as the token’s all-time high.
It is worth pointing out that not long after it came out, the token was reported to have suffered an attack after someone worked out a way to mint it without having to pay any gas fees, although the crypto has also been held responsible for a large number of ETH burns.
After that, though, it fell back down again and, on 31 October, it fell to a low of $0.000005942. After that, there was some recovery and it reached $0.00005575 on 2 November. It then moved back down, and the slump became a crash when the collapse of the FTX (FTT) exchange saw the price of XEN drop to $0.000005765 on 21 November.
There was then a recovery to $0.00001114 on 23 November, before it fell down once more, reaching an all-time low of $0.000002415 on 19 December 2022.
It is also worth noting at this stage that there is no circulation figure for the crypto, meaning it does not have a recorded market cap.
XEN price prediction round-up
With that all said and done, let’s now take a look at some of the XEN price predictions that were being made as of 19 Dececember 2022.
It is important to note a couple of things here. First, price forecasts, especially for something as potentially volatile as a new cryptocurrency, often end up being wrong. Second, many long-term crypto price predictions are made using an algorithm, which means that they can change at any time.
First, DigitalCoinPrice outlined a XEN price prediction that said the token could reach $0.00000279 this year, $0.00000590 next year and $0.00000802 in 2024. By 2025, the site said XEN could trade at $0.0000103 and go on to $0.0000125 in 2027 and $0.0000177 in 2028 and close the decade at $0.0000247. The site then went on to make a XEN price prediction for 2030 that said it could reach $0.0000342 before it could rise to $0.0000466 in 2031.
Next, CryptoPredictions had a XEN token price prediction which saw the crypto trade at $0.0000092487 by the end of 2023, before it made a XEN price prediction for 2025 that saw the token start the year at $0.00001131 and close it at $0.00001229.
Meanwhile, PricePrediction had a XEN crypto price prediction that said the token could be valued at $0.00000324 by the end of 2022. By 2023, the site said that XEN could be worth $0.00000462, $0.00000645 a year from then and in 2025, $0.00000947. By 2026, the site thought the xen crypto could reach $0.00001349 and go on to $0.0000185 in 2027.
A year from then, the token could trade at $0.00002767, before finishing the decade at $0.00004059. By 2030, the site thought the crypto could be priced at $0.00005841, with it forecast to hit $0.00008005 in 2031.
Finally, Wallet Investor had a rather pessimistic XEN price prediction for 2023, saying that the token could fall to a mere $0.00000035 by 19 December 2022.
When considering a XEN 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 coins or 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 XEN a good investment?
It is hard to say. A lot will depend on whether the token can recover from current lows.
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 XEN 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 XEN go up or down?
No one can really tell. While some sites like DigitalCoinPrice were optimistic in their assessment of the future XEN price as of 19 December 2022, others such as Wallet Investor were far more bearish in their XEN price forecasts.
Remember that price predictions very often turn out to be wrong, and that prices can, and do, 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 XEN 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 XEN?
Whether you should invest in XEN is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research. Never invest more money than you can afford to lose, because prices can go down as well as up.
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