MXC price prediction: What is MXC?

• Updated

Can MXC continue to blossom in a gloomy crypto market?

MXC's M logo in pale blue on a dark blue background, mounted on a white disc                                 
The aim is to build a global data network that allows the devices of tomorrow to connect, commit and communicate more efficiently – Photo: Shutterstock
                                

Contents

MXC has bucked the trends to be one of the best performing cryptocurrencies in 2022 so far, but what is MXC (MXC)? Let’s take a look at the token and see what the MXC price prediction is.

MXC explained

Web3 is the much-vaunted next – or, if some people are to be believed, current – stage of the internet. The idea behind it is that, whereas web2 was dominated by big companies that were able to hold users’ data, the internet is set to enter a phase where blockchain technology helps people control their information and keep things private. Whether or not this will lead to the idea that some enthusiasts have of a fourth industrial revolution remains to be seen, but there is no denying that, in certain parts of the internet, there is a big buzz around it. 

MXC is a system and network which is designed to help wireless communications devices interact with Web3. The idea is, according to the website, to build “a global data network that allows the devices of tomorrow to connect, commit and communicate more efficiently than ever before. Cities, companies and individuals benefit by building the network, or using it to transmit and manage their data.” In theory, participants, whether they are big companies or individual start ups, will have the same sort of access and rights within the system, and transactions can take place quickly and cheaply. 

In terms of the MXC cryptocurrency, it is the native token of the MXC network. Since MXC operates on the Ethereum blockchain, it is technically a token rather than a coin. That said, you will often hear references to the MXC coin. MXC can be bought, sold and traded on crypto exchanges. It can also fund transactions on the network and can be staked in return for rewards on the MXC system as well as voting rights. If you want to access the MXC protocol, then you pay for that access in the MXC token.

The MXC organisation itself was founded in 2018 in Berlin by Xin Hu, the CEO, Aaron Wagener, the COO, and CTO Piotr Brzezinski, although the MXC token predates the organisation slightly. 

From the MXC whitepaper

The whitepaper states: “MX is the proof of rights and interests of MXC trading platform itself. Its total circulation is 1 billion constantly and never be added. MX holders can enjoy a series of rights and interests including asset appreciation, rebates on platform revenue, supervision, voting, etc. The way to obtain MX token is to purchase on MXC platform or other platforms that list MX token.”

The document goes on to say: “In MXC ecosystem, MX holders can enjoy a series of rights and interests including MX appreciation, assets appreciation, rebates on platform revenue, supervision, voting, etc. Buy-back and burn mechanism is adopted by MXC Platform to decrease the number of MX, so that MX holders are able to better enjoy rights and interests of MXC community.”

MXC price history

Now, let’s investigate the MXC price history. While past performance is never any indicator of future results, knowing how the cryptocurrency has behaved in the past can help bring some context when it comes to making and interpreting an MXC price prediction.

MXC first came onto the open market in December 2017, when it was worth a little under one cent. The market at the time was about to enter a substantial bubble, and MXC reached periodic highs of above $0.017 on 10 and 11 January. The crypto then settled down and ended up trading at below a cent for much of the next two and a half years. There was a rally in August 2020, when the coin closed 26 August at just over $0.039 before it settled down to a little over a cent for the rest of the year.

Things changed in early 2021, when the cryptocurrency market entered a boom phase and, fittingly, MXC behaved bullishly. It went on an upward rally which culminated in it reaching a high of $0.053461 on 6 April. Things then went back down somewhat and the Great Crypto Day Crash of 19 May saw enough turmoil created around the market that it sent MXC into the doldrums for most of the summer, with the coin spending a good chunk of the next two months below $0.03. August saw some recovery, though, with it breaking back through $0.05 at the close of trading on 17 August before it drifted back down to close the month at $0.038. 

MXC price history
MXC price history – Credit: Currency.com

September saw the market slump and MXC fell to below $0.02 late in the month before October saw recovery to close the month at $0.05264. November saw more growth, with the coin peaking at $0.05764 on 13 November, before worries about the Omicron variant of Covid-19 saw it close at $0.04989. December was, ultimately, a good month, with a new record high of $0.07419 intraday on 26 December before it closed the year at $0.05154. There was more upward motion in January and MXC broke through 10 cents to reach an all-time high of $0.1346 on 19 January, before it settled down to trade at a still-impressive $0.0919 at the end of the month. 

February saw the coin start off around $0.09 before a slump in the middle was exacerbated by Russia’s invasion of Ukraine on 24 February, when the coin fell to a low of $0.07309, but closed the month of March out at $0.1035. In April, the token met another peak at $0.1224 on 9 April. The token fell towards the end of the month and closed in at $0.1061. 

May was also a period of extreme volatility, dipping from around the $0.10 mark to lows of $0.05924 on 12 May, after a crash sent shockwaves through the cryptocurrency market. The token has made something of a recovery and, as of 27 May, it was trading at around $0.07514. At that time, there were 2.64 billion MXC in circulation out of a maximum supply of 2.66 billion. This gave it a market cap of around $198.5m, making it the 141st largest crypto by that metric. 

MXC price prediction

Let’s take a look at the MXC price prediction. Keep in mind, though, that cryptocurrency price forecasts are very often wrong. Also, it is important to mention that longer-term crypto price predictions are often made using an algorithm, which can change at any time.

Firstly, gov.capital has an MXC coin price prediction which indicates that it should close 2022 at a little under $0.16. The site forecasts that the coin should be trading at a shade over $0.30 on 27 May 2023 before it reaches just over $0.60 on 27 May 2024. The site makes an MXC price prediction for 2025 that says it should start the year at around $0.78 before reaching an average price of $0.99 on 27 May before closing the year at around $1.23. The site forecasts a value of $2.08 in five years’ time.

Next, CoinsKid has an MXC price prediction for 2022 which sees the token reaching $0.1509 in June, and closing the year at around $0.1345 (up 9% from the current trading price). The site forecasts a value of $0.1509 in June 2023 and $0.2594 a year later. The site also projects a June 2025 value of $0.3111.

Meanwhile, PricePrediction.net argues MXC could reach $0.080 over the course of June, with an average yearly value of $0.13 in 2023, $0.19 in 2024 and $0.27 in 2025. The site has an MXC price prediction for 2030 that sees it worth an average price of $1.71 before it reaches $2.53 in 2031. 

Finally, WalletInvestor says that MXC can get to $0.18 in May 2023 before it slowly rises up the price charts to hit $0.56 in May 2027.

Final thoughts

Before we finish, some final thoughts. Firstly, while MXC's aims are admirable, the fact remains that it could use simpler language to get its message across. It is very likely that someone who was promised things explained in simple language could take one look at the documents on MXC’s website, see they are filled with jargon, and decide to spend their money on something that is easier to understand. Secondly, since MXC interacts with the internet of things, it is working in a niche that is already relatively crowded.

Whether MXC has got what it takes to co-exist with, or even overtake, the likes of IOTA and veChain remains to be seen. Furthermore, the token has enjoyed its all-time high pretty recently, so proponents of buying during the dip may end up being conflicted. We still don’t know if MXC is enjoying a new base to build off, or whether it will end up slumping down to where it has been before. Like with every cryptocurrency, you will need to be careful if you want to invest in MXC.

FAQs

As of 27 May 2022, there were 2.64 billion MXC in circulation out of a maximum supply of 2.66 billion. 

It might be. We are looking a coin which has done well overall and pretty much bucked the stagnation and downturn of the last few months. There is, however, no guarantee that this will last. You will have to do your own research and never invest more money than you can afford to lose.

It could do but by how much and how soon remains unclear. Remember, too, that cryptocurrency can be highly volatile and prices can go down as well as up.

This is entirely up to you. Before you do so, you will need to do your own research, never invest more money than you can afford to lose, and remember prices can go down as well as up.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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