FIO is a utility token powering FIO Protocol — a project initiated by the Foundation for Interwallet Operability and intended to improve crypto usability. FIO protocol does that by letting a user utilize a single easily readable address, which looks like “john@fio,” for operations with different currencies within his wallet, instead of different blockchain addresses for different coins, which are long, complex, and hard to manage. Note that as a service on the usability layer, FIO Protocol doesn’t actually handle transactions on other blockchains, providing just a convenient way to aggregate addresses instead. FIO itself is decentralized and runs on the Delegated Proof of Stake consensus protocol.
To achieve interoperability, FIO is building an ecosystem with various exchanges, wallets, and other players in the crypto space. Integrating FIO functionality enables their users to make easy and quick transactions, payments, and even requests for funds, which the receiver may then approve and initiate the transfer. Assuming the ecosystem keeps growing, FIO Protocol has a chance to noticeably speed up the adoption of cryptocurrencies by making them much more accessible.
FIO tokens are used for the transaction fees within the network, as well as for a registration or a renewal of a FIO address. Also, the DPoS consensus protocol requires users to vote for block producers, with the number of votes assigned to a certain user depending on the number of tokens they possess.
FIO protocol’s price started growing in the beginning of 2021, following a big mainnet update in January and some integration announcements. It peaked in the beginning of April, as upcoming board elections fueled interest in FIO, since one has to be a token holder to vote. After reaching an all-time high of ~$0.57, the trend turned, with FIO price falling to about $0.11 by the end of May. Since the beginning of summer 2021, however, the price has been slowly trending up, fluctuating around ~$0.2, which is why FIO’s long-term price forecasts promise further growth.
Despite the fact that 100% accurate technical analysis for FIO Protocol cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated FIO buy-and-sell rating for selected timeframe. The summary for FIO/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for FIO Protocol (FIO) from popular forecast platforms.
According to WalletInvestor, FIO Protocol price will grow from $0.15032892 to $0.3038 in one year. That makes FIO an awesome investment. The long-term earning potential is 102.09%. Predicted price for the end of 2026 is $0.758.
Answering the question about if FIO Protocol is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $0.1756734 with a growth to $0.2651897 by the end of 2022.
In DigitalCoin analysis, the price of FIO Protocol cryptocurrency will rise in the next 5 years starting from $0.148144 as of today’s price to $0.555969. It will go up to $0.2495795 by 2022 and continue its growth in 2023–2024. Based on this forecast, FIO Protocol is a profitable long-term investment.
As it can be clear from the analysis cited above, FIO Protocol (FIO) projections are rather contradictory. There is no universal consensus either about positive or negative future FIO price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the FIO Protocol projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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