Today, 12 September 2018, a cryptocurrency called GO was listed on Binance crypto exchange. As you probably know, many Binance listings in winter and spring 2018 led to significant increase in price of listed coins. But the situation had changed and May and spring listings showed different results. What about GoChain (GO)? Let’s analyze the current situation and perspectives of this coin.
What is GoChain (GO)?
GoChain is a scalable low-cost cryptocurrency that supports distributed apps and smart contracts. It is compatible with Ethereum wallets and offers fast transactions.
GoChain casts itself as a platform, which is:
- 10x more decentralized;
- 100x faster;
- 1000x less energy-consumptive.
GO coin is the project’s cryptocurrency. Its total supply is 1 014 354 823 GO, according to CoinMarketCap.
According to the project’s Twitter, in October 2018, the company’s representatives took part in various crypto events, like Blockchain Week LA. Seastar Inn Resort, Restaurant & Sports Bar (Jamaica) started to accept GO coins. In addition, GoChain was mentioned by top crypto news outlets, like Bitcoinist and Crypto Block Wire.
GoChain (GO) Price Prediction
After posting the news about GO listing by Binance on September 11, 2018, the coin showed insignificant growth. The situation did not change much directly after listing: the bear market has killed the coin’s attempts to grow and its price has returned to its pre-listing value.
Let’s try to assess favorable and unfavorable factors that will probably influence the price of GO coin.
Favorable factors are as follows:
- As practice shows, all Binance-listed coins were pumped to some extent soon after the listing. For instance, MFT significantly fell is price after listing in July 2018 but four weeks later it was pumped (not rigidly).
- People are often interested in new coins instead of old ones, especially if these old coins are not improving by their developers.
- GoChain has clear roadmap and a reliable team.
- According to the project’s official website, a next generation decentralized app platform is to be offered in Q4 2018, which can be a price increase trigger.
- The coin became Community Coin Round 9 Winner in early September, which means it has a good supportive community.
Unfavorable factors are as follows:
- The cryptocurrency market is now in the bear stage. The father of all cryptos – Bitcoin – doesn’t give altcoins normal opportunities to grow. (However, some coins, such as HOT, have been able to overcome the bear trend despite market falling).
- There are other projects with high scalability and low fees, such as Quarkchain.
- At the moment, there is no high demand for this crypto. Even big cryptocurrencies like EOS suffer from the lack of demand, as they have small quantity of active wallets per day.
You see, we’ve managed to find more favorable factors than unfavorable ones. Therefore, our verdict on this coin is generally positive. Find GoChain (GO) price forecast for 2018 and 2019 in the table below.
|Period||GoChain (GO) Price Predictions|
|End of 2018||$0,1|
Disclaimer. This GoChain price prediction is our personal view. Always make your own market analysis before investing in / trading any coin. The cryptocurrency market is sometimes highly unpredictable. This information should not be treated as investment advice.
Featured image from Pexels.