Saito price prediction: Is saito one to watch?
Saito lost 48% in the 30 days leading up to 23 May – where is it heading next?
Saito (SAITO) is one of a variety of coins that look to improve on current blockchain technology, be it through providing faster transaction speeds or solving the scalability problem by altering the crypto business model. It is this latter approach that Saito is taking.
Richard Parris from Melbourne, Australia, and David Lancashire from the US co-founded Saito in March 2018, in Hong Kong. It attracted attention among investors in 2021, no doubt in part due to its unique approach to trying to solve the issues that render crypto unable to break into the mainstream.
Crypto was developed to try to open up access, democratise financial services and empower the ‘unbanked’ – those without access to traditional financial services. However, the lack of regulation and increasing centralisation of wealth and influence in the sector has some cynics arguing that crypto is too self-interested and too lacking in a broader view to be of any use to society at large.
Attempting to solve the market problems that plague crypto is Saito’s mission. Does it have legs? What is the saito price prediction for 2025 or even the saito price prediction for 2030?
Before we do a deep dive, let’s take a brief overview of the company.
Overview of Saito
The former is an economic problem that emerges when each participant in a system is incentivised to consume a resource, even if it is at the expense of others. Miners are incentivised to add data to a block, without considering the cost that the network will have to bear in the future of managing and supporting that data.
The Saito ecosystem attempts to solve this problem by requiring all nodes that add transactions to the blockchain to share the cost of this responsibility. By making nodes bear the cost of processing those transactions, they will no longer add transactions to the chain that do not pay enough. If they do, they will lose money themselves.
The free-rider problem emerges when participants overuse a resource without paying their fair share for it, according to Investopedia.
From designers to code auditors, there are many people required to ensure a system works effectively. Mining is not the only kind of valuable work. Furthermore, if blockchain is ever to become the infrastructure of the future, all work in the system must be rewarded and compensated, rather than depending on volunteers or pumps of investment from venture capitalists.
Saito attempts to fix this problem by paying nodes in proportion to the value they provide to the network, as opposed to how many blocks they mine. Users pay a fee according to all the services a valuable node provides.
But how does this information affect a Saito coin price prediction? Before we look at what the experts think, let’s look at the past performance of the coin.
SAITO coin: past performance
According to CoinMarketCap, the SAITO coin price rose from $0.0099 on 23 April 2021 to $0.0288 on 26 April. The price subsequently dropped to $0.0195 on 29 April. It saw more volatility in the following month, dropping to $0.007116 on 23 May before rising to $0.02122 on 28 May. By October, the SAITO price began to rise, from $0.01009 on 15 October to $0.0887 on 15 November.
Volatility persisted, however, and after dropping to $0.0358 on 20 December the SAITO price broke the $0.10 mark on 3 January 2022. The price subsequently dropped to $0.0782 on 6 January before surging again to $0.09941 on 16 January.
On 24 January, the coin dropped to $0.03648 before increasing to $0.05434 on 8 February. The coin subsequently dropped to a low of $0.02393 on 15 March. The coin then surged, skyrocketing to a high of $0.05984 by 4 April. But it subsequently dropped to $0.04007 by 19 April.
The downtrend continued, with the coin dropping to a low of $0.01367 by 12 May. The token has since risen, standing at $0.01755 as of 23 May.
According to CoinGecko, Saito lost 48% in the 30 days leading up to 23 May and 65% between May 2021 - May 2022.
With a maximum supply of three billion SAITO coins and a current circulating supply of 1.07 billion coins, the saito cryptocurrency has a market cap of $18,755,856 as of 23 May 2022. It is currently ranked number 527 on the Coin Gecko platform.
How does this information affect a saito crypto price prediction? Let’s look at what the experts think.
It is important, when looking at predictions, to remember that while they can be helpful as an indicator of which direction the price may move, they should be viewed as possibilities rather than absolutes. This is especially the case when looking at long-term forecasts, as these can sometimes be completely off the mark, due to both the inherent volatility of the crypto market and the many unknowns which could affect future prices.
With this in mind, let us look at some saito price prediction samples.
Gov Capital, in an optimistic coin price prediction, estimates the saito price prediction for 2023 to be $0.1535. The platform forecasts the coin will reach $1.3630 in five years’ time.
WalletInvestor thinks SAITO could be worth $0.0504 in a year’s time. The platform’s Saito coin price prediction for five years’ time is $0.1820.
DigitalCoinPrice gives a saito price prediction for 2022 of $0.0230. It thinks that SAITO could be worth $0.0253 in 2023 before increasing to $0.0269 in 2024. The website’s Saito price prediction for 2025 stands at $0.0331.
Saito no doubt has a long way to go to become one of the frontrunners in the crypto sector.
With a compelling proposition and an interesting approach to the scalability problem, the coin may well make strong gains in the future. However, with much remaining to be seen in terms of how the network functions in the long term, the coin price could go either way.
Potentially. Saito has a unique proposition. However, it remains to be seen whether the proposition is attractive enough to raise its profile. It is always worth remembering that the crypto market is highly volatile, and that the price of all tokens and coins can go down as well as up. Never invest more than you can afford to lose.
Analysts on the whole think the coin will go up, albeit very slowly.
However, it is worth remembering that forecasts, especially long-term ones, are better viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up-to-date with any developments within the Saito ecosystem that could boost or harm its prospects.
Remember, investing can be risky, and it is important never to invest more money than you can afford to lose.