A cryptocurrency called GO was listed on Binance crypto exchange on 12 September 2018. The coin showed ups and downs, and now, it seems, it is at the bottom. 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.
The Gochain blockchain was updated accordingly with the innovations in the Ethereum network after Constantinople hardfork. The community will find out a little later how this will affect the ecosystem of the project.
In February 2019, GoChain switched to a new interface (Web3 command-line interface) with an updated language for writing smart contracts. According to the developers, now it will be easier to build on their blockchain.
Since February 28, 2019, GoChein has been supported by Trust Wallet Core, an open source cross-platform wallets database. Open access allows developers to create their own applications and wallets.
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. After this, the crypto succeeded to rise for a while, but the market crash inhibited and leveled those attempts again.
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.
- The coin became Community Coin Round 9 Winner in early September 2018, which means it has a good supportive community.
- In addition, the coin is often searched in Google (according to statistics of search queries), i.e. people’s interest in it still exists.
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 2019 and 2020 in the table below.
|Period||GoChain (GO) Price Predictions|
|End of 2019||$0.075|
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.