The FX PostThe FX Post
    What's Hot

    Best 10 Crypto Trading Indicators to Choose & Make Profit

    May 26, 2022
    Diagram of growth in real estate prices. 3d illustration on white background.

    US Pending Home Sales Edged Down 3.9% in April on Rising Mortgage Rates

    May 26, 2022
    Close up of businessman hand pointing at abstract glowing grid with index and candlestick forex chart. Trade and financial data concept. Double exposure

    US Economy Shrank at 1.5% Annual Rate in Q1 of 2022

    May 26, 2022
    The FX Post The FX Post
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Best FX Post
      • Best Forex Robots
    The FX PostThe FX Post
    Home » Skycoin Price Prediction: SKY Price Forecast 2022
    Crypto Crypto Forecasts

    Skycoin Price Prediction: SKY Price Forecast 2022

    January 27, 20226 Mins Read
    Facebook Twitter Pinterest LinkedIn Reddit
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    Skycoin has been flying under the radar for the past two years. While some projects have raised millions of dollars in questionable ICOs, the Skycoin team has worked hard on their latest blockchain application platform, Skywire. Skywire’s goal is to provide consumers with a cheaper, faster, and more customizable internet connection that will allow them to earn money by leasing this bandwidth to others. Skycoins, the native currency of these ecosystems, will permit payments in this “Web 3.0” ecology.

    Furthermore, Skycoin is being developed by several of the original contributors to the Bitcoin and Ethereum projects. Many people believe that Skycoin will be one of the most exciting cryptocurrencies to watch in the coming year, especially with the upcoming launch of the Skywire testnet.

    Let’s take a closer look at this project to determine if it’s worth your time.

    What is the Skycoin coin? SKY explained

    Skycoin is the native cryptocurrency that will be used within the decentralized ecosystem of the Skycoin project. According to the team, this cryptocurrency has been under development for some years and is one of the oldest cryptocurrencies in existence.

     

    Skycoin’s developers appear to have taken a close look at the issues that Bitcoin and Ethereum are now facing. They have implemented several enhancements that will make Skycoin the most appealing option. They have, for example, elected to employ the Obelisk consensus process. This method also addresses many of the flaws of Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms.

     

    Skycoin will benefit from the protocol’s unique features in the following ways.

     

    • Transaction times are less than two seconds.
    • Transactions will incur no costs.
    • Skycoin, written in the GO programming language, is one of the most secure cryptocurrencies.
    • Skycoin can combine transactions from several wallets via the CoinJoin protocol, making it impossible to identify the parties to the transaction.
    • Skycoin transaction verifications are substantially more sustainable because no PoW mining is necessary.
    • The SKY has a use case and is backed by usefulness. It is the mesh network’s money, and it is backed by bandwidth as an asset.
    • There will be 100 million Skycoins in circulation at any given time. These have already been mined, and no new ones can be generated or destroyed. The limited amount of coins will be gradually released to the public. At first, 25% of all coins will be distributed.

    There are 100 million coins in all, and they cannot be destroyed or manufactured. Skycoin is distributed in a decentralized manner. The more tokens made available to the public, the slower the distribution will be. In consequence, the community gains power rather than miners or traders.

     

    Until the first 25 million tokens are distributed, 75% of the coin supply remains frozen. After the initial 25% of the tokens are released, only 5% of the remaining tokens will be available each year. Skycoin’s code includes this rate.

    Skycoin (SKY) coin: is it a good investment?

    Skycoin appears to be a promising project. The concept is fantastic, and they have a reasonable plan for the future and a fantastic team. Will they, however, be the ones to triumph in that space? It’s difficult to say. Numerous rival efforts seek to accomplish the same purpose.

    Investing in SKY at this moment could be a very appealing proposition. They have precious technology, a limited coin supply, an incredible idea, and are the best startup in this field. To begin with, you’ll be able to use the tokens to purchase internet access. You will not be required to sign any contracts with an ISP, and you will not be required to provide them with any of your personal information. 

    Furthermore, a centralized platform cannot limit your access, and your activities will not be traced. This can also be useful in nations where severe censorship and information freedom are severely restricted. Therefore, Skycoin’s long-term outlook seems optimistic.

    Lastly, Skycoin is losing momentum, and its price has plunged significantly to $0.23 ever since it set a high of $50 in December 2017. Therefore, long-term investment in Skycoin (SKY) cryptocurrency can be rewarding, but a short-term investment may not yield profits.

    What will the Skycoin coin be worth in 2022?

    With a live market cap of $5,286,965, the current CoinMarketCap ranking is №1256. It has a total quantity of 22,000,000 SKY coins and a circulating supply of 100,000,000 SKY coins. According to the Skycoin projection price and technical analysis, the Skycoin price is predicted to drop below a support level of $0.2350 in 2022. 

    SKY coin price prediction — daily chart
    SKY coin price prediction — daily chart

    The technical outlook for 2022 isn’t very optimistic as the SKY may drop a little further until the $0.23 level before taking a bullish reversal. By the end of 2022, the SKY/USDT price could reach a high of $0.45.

    Skycoin price prediction for 2022

    Skycoin is trading sharply bearish at $0.2358 per coin at the time of writing. Now that we’ve arrived in the year 2022, we’d like to inform you that the token price has the potential to hit $0.45 to $0.60. There is a good probability that the token will hit this price, as the sellers seem to have expected it. SKY has retested $0.2300 quite a few times now and has bounced off every time.

    Skycoin coin price prediction — weekly chart 
    Skycoin coin price prediction — weekly chart

    There may be a little drop in this price to the triple bottom area of $0.2300, and you may also experience some volatility. So, if you’re investing right now, be prepared for any eventuality that may arise concerning the coin. On the upside, the SKY/USDT may encounter immediate resistance at $0.4500 and $0.6000.

    How to buy a Skycoin coin?

    If you’re wondering where and how to buy Skycoin, the top cryptocurrency platforms for buying Skycoin stock right now are LBank, Finexbox, Hotbit, ExMarkets, and Bitbns.

    If you are a beginner, take the following steps:

    • Step 1

    Create an account with a cryptocurrency exchange. Whatever option you choose, the first step is to sign up for Hotbit or any other platform that trades Skycoin.

    • Step 2

    Purchase BTC to exchange it for Skycoin coins.

    • Step 3

    Use the exchange to convert BTC into Skycoin.

    crypto trading bot trial
    Markets are invaded by algorithms. Learn 5 tips to secure your passive income with algo-based trading systems.
    Learn more
    crypto forecasts Skycoin
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    Best 10 Crypto Trading Indicators to Choose & Make Profit

    May 26, 2022

    How to Master Quadruple Exponential Moving Averages (QEMA) Crypto Strategy

    May 25, 2022

    ECB Says 10% of Eurozone Households Own Cryptocurrencies

    May 24, 2022

    How to Use Relative Vigour Index (RVI) In Crypto Strategy

    May 24, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    65  −    =  57

    Recent Posts
    • Best 10 Crypto Trading Indicators to Choose & Make Profit
    • US Pending Home Sales Edged Down 3.9% in April on Rising Mortgage Rates
    • US Economy Shrank at 1.5% Annual Rate in Q1 of 2022
    • US Fed Likely to Hike Rates by 50 Basis Points in Upcoming Meetings-FOMC
    • BlackQueen Review: Is It a Good Robot to Buy In 2022?
    Editors Picks

    Best 10 Crypto Trading Indicators to Choose & Make Profit

    May 26, 2022

    Best 10 Ways to Earn Free Crypto & Profit Fast

    May 20, 2022

    Best 10 NFT Marketplaces

    May 17, 2022

    Best 10 Cryptocurrency Mining Platforms

    May 16, 2022
    Featured Reviews
    Pionex

    Pionex Review: Pros, Cons, Recommendations

    May 12, 2022
    TradeSanta

    TradeSanta Review: Pros, Cons, Recommendations

    May 18, 2022
    Bitsgap

    Bitsgap Review: Pros, Cons, Recommendations

    April 29, 2022
    © 2022, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.