XYO peaked during November and subsequently began a steep decline as the market was gripped by corrections. The token has been declining steadily into December; however, the current price movements suggest the reversal of the downtrend. At the time of writing, the cryptocurrency stands at a price level of $0.039. The price has experienced a surge of 15% during the past twenty-four hours while the daily trading volume has jumped upwards by nearly 200%. The 24-hour low and high stands at $0.033 and $0.046 respectively. The cryptocurrency stands at a market rank of #130 with a steady growth in the capitalization.
What is XYO?
XYO is a geospatial blockchain. It is a location-based data network built on shared incentives. Through their partner mobile application COIN, users can turn their mobile phones into nodes – enabling them to geomine location-based rewards through their mobile phones. In order to earn rewards, users have to explore and discover digital assets from a real-world space and sharing all relevant location data. The aim of the network is to have a comprehensive database of location-based verified data of the physical world which can, in turn, be used in the blockchain world. The location-based data can be used by networks to improve their user experience or offer solutions to real-world problems.
The reward program of XYO is highly lucrative. Moreover, the network also focuses on increasing adoption through education about the platform. They have comprehensive educational resources and being open-source they encourage partnerships through the form of any meaningful contribution to the network.
Future outlook
The XYO token gained popularity during 2021 as the price of the Ethereum-based token surged upwards. The platform has a very interesting proposition which is geared to become even more relevant in a data-centric world. Moreover, the network is also working towards bagging major partnerships. Travala.com – a leading crypto-based travel booking service – recently announced the integration of the XYO token into its platform. The token can now be utilized to access the booking of over 2.2 million hotels, more than 600 airlines and around 40,000 activities throughout the globe.
The cryptocurrency is expected to gain over the years as its adoption increases. According to the estimates of Wallet Investor, the cryptocurrency stands at a price level of $0.10 in a year’s time while the five-year projection places the token at $0.34.
