FIO is a utility token that powers the FIO protocol – a project initiated by the Foundation for Interwallet Operability to improve crypto usability. The FIO protocol does this by allowing a user to use a single, easily readable address that looks like “john @ fio” for operations with different currencies in their wallet, rather than different blockchain addresses for different coins that managing is long, complex and tough. Note that the FIO protocol as a service on the usability layer does not process transactions on other blockchains and instead only offers a convenient way of aggregating addresses. FIO itself is decentralized and runs according to the Delegated Proof of Stake consensus protocol.
In order to achieve interoperability, FIO is building an ecosystem with various exchanges, wallets and other actors in the crypto space. The integration of the FIO functionality enables their users to carry out simple and fast transactions, payments and even money requests, which the recipient can then approve and initiate the transfer. Assuming the ecosystem continues to grow, the FIO protocol has a chance to noticeably speed up the adoption of cryptocurrencies by making them much more accessible.
FIO tokens are used for transaction fees within the network and for registration or renewal of an FIO address. Also, the DPoS consensus protocol requires users to vote for block producers, with the number of votes assigned to a particular user based on the number of tokens they own.
The price of the FIO protocol began to rise in early 2021 after a major mainnet update in January and some integration announcements. It peaked in early April when the upcoming board elections sparked interest in the FIO as you have to be a token holder to vote. After hitting an all-time high of ~ $ 0.57, the trend reversed and the FIO price fell to around $ 0.11 by the end of May. However, since the beginning of summer 2021, the price has slowly been trending upwards, fluctuating around ~ $ 0.2, which is why FIO’s long-term price forecasts promise further growth.
Despite the fact that 100% accurate technical analysis is hardly possible for the FIO protocol cryptocurrency, this advanced technical analysis tool from TradingView allows you to view the aggregated FIO buy and sell rating in real time for a selected period of time. The summary for FIO / USD is based on the most popular technical indicators – moving averages, oscillators and pivots.
Below we’ve rounded up the most reliable FIO Protocol (FIO) price predictions from popular forecasting platforms.
According to WalletInvestor, the price of the FIO protocol will increase from $ 0.15032892 to $ 0.3038 in one year. That makes FIO a great investment. The long-term earning potential is 102.09%. The forecast price for the end of 2026 is $ 0.758.
When asked if the FIO protocol is a good investment, TradingBeasts answered a resounding yes. Looking ahead to 2021, this coin price is projected to hit $ 0.1756734 and rise to $ 0.2651897 by the end of 2022.
In the DigitalCoin analysis, the price of the FIO protocol cryptocurrency will increase from 0.148144 USD at today’s price to 0.555969 USD over the next 5 years. It will rise to $ 0.2495795 by 2022 and will continue to grow in 2023-2024. Based on this forecast, the FIO protocol is a profitable long-term investment.
As can be seen from the analysis cited above, the predictions of the FIO Protocol (FIO) are quite contradicting. There is no universal consensus on positive or negative future FIO price movements. In fact, the future possible growth depends on various factors: announcements, new technological solutions of the FIO protocol projects, the crypto environment in general, legal situation and so on. We kindly remind you that it is essential to do your own research (DYOR) before investing in a cryptocurrency.
Disclaimer: This article should not be viewed as a trading recommendation. The cryptocurrency market suffers from high volatility and the occasional random movement. Every investor should research multiple viewpoints and familiarize themselves with all local regulations before committing to an investment.
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