HXRO price prediction: What is HXRO?

Can HXRO defy the market once more?

HXRO                                 
HXRO has outperformed the market in the past. Can it do so again? – Photo: Shutterstock
                                

Contents

The HXRO network offers people the chance to treat cryptocurrency like it was a regular commodity but, in terms of the crypto itself, what is HXRO?

Let’s see if we can explain what it does and examine the HXRO price prediction, too. 

HXRO explained

The idea behind the HXRO Network is, ultimately, to make it easier to trade in crypto derivatives. These are financial contracts set between parties that derive their value from an underlying asset or benchmark. In other words, a derivative’s value is worked out by changes in the price of the thing it derives its value from.

Derivatives are often used when someone wants to protect themselves from market changes and, with cryptocurrencies being notoriously volatile, they can be useful. HXRO was set up in 2018 by financial industry veterans Dan Gunsberg, Rob Levy, Danny Johnson, Lawrence Richardson and Greg Zanotti. As well as allowing people to trade in derivatives, there is also a gaming aspect to the system. 

Every crypto project needs its own native token, and HXRO is the native token of the HXRO network. It serves as a governance token, allowing people to stake their tokens in return for rewards, take part in voting on changes to the network and get discounts on the cost of making transactions on the system.

It is worth noting that the HXRO cryptocurrency is based on the Ethereum blockchain, which means it is a token rather than a coin. You will sometimes hear references to the HXRO coin, but don’t worry, it is the same thing. 

HXRO price history

It’s now time to take a look at the HXRO price history. Although past performance should never be taken as an indicator of future results, knowing how the token has behaved in the past can give us some much needed context and insight if we want to make or interpret an HXRO price prediction.

HXRO first came onto the open market in February 2019, when it was worth around $0.075. At that time, the market was in the midst of a so-called crypto winter, with prices largely stagnating in the aftermath of the popping of the late 2017/early 2018 crypto bubble. While the price did go up a little, it also went down and, on 25 November 2019, it reached an all-time low of $0.008749.

2020 saw a bit of growth, with it topping $0.20 in August, October and November, but it was not until 2021 that things really started to pick up. The start of that year saw cryptocurrency enter a real boom period, with the market turning bullish and many coins and tokens reaching record prices. As far as HXRO was concerned, things were going well: the token hit periodic highs of $0.6716 on 17 April and $0.6906 on 8 May. 

After that, though, the great crypto day crash of 19 May 2021 saw the price of HXRO drop – but then something rather unusual happened. At a time when most cryptocurrencies were suffering significant losses as the market stagnated following the crash, HXRO did not just hold steady but, instead, grew.

On 1 June 2021, the token reached its all-time high of $0.8167, and, while it did not quite get back to that level, it still significantly outperformed the market over the next month or so, trading consistently around or above its pre-crash price of $0.6112.

July 2021 saw a bit of a downturn, though, and it closed the month at $0.4839. While the market as a whole recovered in August, thanks in part to a growing interest in non-fungible tokens (NFTs), HXRO was not quite able to shine as brightly as it had a couple of months earlier, although it did close the month up at $0.5447.

HXRO price history
HXRO price history - Credit: Currency.com

September and October 2021 were weaker months for crypto as a whole, and HXRO ended October at $0.4412. While things got better for the market in general, with Bitcoin hitting new highs a crucial driver, HXRO was only able to respond weakly, with $0.5367 on 10 November the highlight in the first half of the month.

It was not until the end of the month that things started to act in a way that would cause people to take real notice, with HXRO closing at $0.5745 before reaching $0.5909 on 3 December. After this, though, growing concerns about the Omicron variant of Covid-19 – which the token had managed to evade – dominated the market and HXRO closed the year at $0.4741.

Although HXRO enjoyed some success when the market was struggling in 2021, it has not yet been able to fully escape the bears that took over crypto in 2022. Although it hit an intraday high of $0.4834 on 1 January, it has all been downhill since then, with it plummeting to $0.3033 on 22 January. There was, admittedly, regrowth after that, with HXRO getting to $0.4507 on 7 February, but then there was another downturn and it closed the month at $0.3539.

Nevertheless, it is worth pointing out that HXRO continued to be somewhat unpredictable. When Russia invaded Ukraine on 24 February, it sank to an intraday low of $0.3476, which was actually higher than the lows of the previous two days – again suggesting that this token did not always blindly follow the market.

By the end of March 2022, it was worth $0.3166, but it rallied to hit $0.3431 the next day before dropping to $0.3009 on 3 April. After that, though, it bounced back to reach $0.3731 on 5 April. While there was a fallback over the course of the rest of the month, with it closing at $0.3087, it did not do too badly, considering the losses following China’s crypto ban that had a bigger impact on other crypto currencies.

May, though, was another matter. The depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency was something that not even HXRO could escape. On 12 May 2022, it reached a low of $0.2225 and it struggled to close the month at $0.2411.

June was another bad time for cryptocurrency, with the cancellation of withdrawals on the Celsius lending platform confirming the bear market, and HXRO sank to a low of $0.1999 on 18 June. The crypto attempted some recovery, but it was not until the very end of the month that things picked up. On 30 June it reached an intraday low of $0.1974, but a series of meme posts on the system’s Twitter feed indicated that something was about to happen and curious investors took advantage, lifting the price to close the month at $0.2339.

By the time of writing on 1 July 2022, the token was worth about $0.2334. At that time, there were just over 422.2 million HXRO in circulation out of a total supply of one billion. This gave the token a market cap of a little over $98.5m, making it the 248th largest crypto overall.

HXRO price prediction

With all that over and done with, let’s take a look at the HXRO price prediction. Something to bear in mind is that price forecasts, especially when it comes to something as volatile as cryptocurrency, are often wrong. It is also worth remembering that long-term crypto price predictions are often made using an algorithm, which means they can change at any time.

First, Gov.capital’s HXRO crypto price prediction says that the token should close this year at a little below $0.34, before it rises to around $0.78 on 1 July 2023. A year from then, HXRO should be worth a little under $1.56.

The site makes an HXRO price prediction for 2025 that sees it start the year at just under $1.79, before it reaches a fraction of a cent under $2.43 on 1 July and $2.76 at the end of the year. By 1 July 2026, HXRO should be worth $3.47, and a year from then, the site says, it should trade at just under $4.67.

Next, TradingBeasts makes an HXRO price prediction for 2022 that sees it reach $0.27 in December before it falls back down to around $0.23 in July next year. By July 2024, though, there should be some recovery to around $0.32, while 12 months from then it should be trading at about $0.33 before it closes 2025 at $0.36.  

Meanwhile, DigitalCoinPrice suggests that HXRO will reach $0.31 this year and $0.34 next year, and stay at $0.34 in 2024. There will be a recovery to $0.44 in 2025, but there will be another small dip to $0.43 in 2026. After that, though, there should be some recovery for the token, with it getting to $0.56 in 2027 and $0.73 in 2028, before it closes the decade at $0.96. The site makes an HXRO price prediction for 2030 that sees it break the dollar barrier to trade at $1.07 before it gets to $1.24 in 2031. 

Finally, WalletInvestor makes an HXRO coin price prediction that says the crypto’s price looks set to collapse over the next 12 months, reaching $0.0263 by July 2023.

Final thoughts

Before we finish, a few things. Firstly, HXRO has, in the past, behaved in a way that is somewhat detached from general market trends. We saw this most notably in June 2021, when it reached an all-time high during a period when the market overall was struggling to recover from a crash. This means that it can be hard to extrapolate what will happen to the token from an overall crypto market forecast. It could always boom at a time when the market is busting but it could just as equally bust when the market is booming.

Secondly, what the network that the token is based on is designed to do might be a little too niche and complex for the average crypto investor. Derivatives are complicated things, and should probably be avoided by newcomers to any sort of investing.

This brings us to our final point. While HXRO does something a bit different from most cryptocurrency networks, that does not mean that it will always be its particular niche’s leader. Let’s not forget that NXT did a lot of the things we now associate with the Ethereum blockchain before Ethereum even existed, but now ETH is the second largest crypto and NXT is a footnote.

As always with cryptocurrency, it makes sense to be cautious and act with due care. 

FAQs

On 1 July 2022, there were just over 422.2 million HXRO in circulation, out of a total supply of one billion.

It might be. Keep in mind that, while the market is bearish at the moment, HXRO has outperformed the wider market in the past. What we don’t know, though, is whether it will do it again. You will need to do your own research before coming to a decision.

It could do. While it has been performing well recently, there is no way of telling when the upward momentum will reverse, and at what level it will drop down. We do need to remind you that cryptocurrencies can be extremely volatile, and that prices can go down as well as up.

This is a question you will have to answer for yourself. Before you do so, you will need to do your own research, remember that prices can go down as well as up, and never invest more money than you can afford to lose. 

Further reading

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