The blockchain industry had experienced much growth compared to what it was in 2008 when Bitcoin, the first cryptocurrency, was created by the mysterious Satoshi Nakamoto. It presented itself as a decentralized, fast, and scalable protocol with its proof of work consensus, which rewards miners who solve complex equations with new coins.
However, as the industry continued to grow, several other protocols were employed to achieve consensus on blockchains and each of them bringing something unique to the industry compared to the other. Among this consensus mechanism is Proof of Believability employed by the IOST network.
The network is a decentralized and ultra-fast platform thanks to its consensus mechanisms coined as the next-generation consensus protocol.
IOST token, the native currency of this platform, has recently attracted the attention of investors and coin analysts, who are impressed by its growth potential, and also wondering what its price will be in the coming years and months. Some of these analysts have, after careful research, made long/short-term price predictions of IOST.
In this article, we will briefly discuss IOST before highlighting IOST price predictions by several experts.
What Is IOST (IOST)
IOST, which stands for internet of service token, is a blockchain network that employs the Proof of Believability (PoB) consensus protocol making it fast, scalable and secure. As a next-generation consensus algorithm, the platform aims to provide infrastructure for online services and also solve pressing problems of blockchain security and scalability.
The network has come up with novel sharding, a database partitioning technique, to solve these problems and also aid it to be able to process up to 100,000 transactions per second, and compared to blockchains like Ethereum, it was designed to have meager fees.
The platform launched in 2018 with Jimmy Zhong, Terrence Wang, Kevin Tan, Justin Li, Ray Xiao, and Sa Wang as founders; a year later, they released the network mainnet in 2019.
IOST the native token of the network serves the purpose of utility and governance; it is also used as a commission fee, an incentive for validators to secure the network from the excessive deployment of smart contracts and verify the transactions on the block. The token is also helpful in calculating a believability score on the network. In addition, users who hold IOST can make their tokens available to the platform's staking pool, earning rewards in cryptocurrency and actively participating in governing the platform.
IOST is currently worth $0.008871, ranking 137th in the crypto market with a market capitalization of $164,903,551 and a maximum supply of 90 billion tokens.
Brief History Of IOST
IOST released its white paper in December 2017. By May 2018, the IOST foundation announced the launch of Theseus, a decentralized applications research and development team, also Bluehill, an accelerator worth $50 million to speed up the platform's development.
The platform's native currency, the IOS token, functioned as an ERC-20 token of the ETH network, but in June 2018, the team released a public testnet, and by February 2019, they moved to their mainnet. The platform's founders include Kevin Tan, a computer scientist and cofounder at Ethercap. Jimmy Zhong, a tech entrepreneur who had founded several tech startups in the US and China. Terrence Wang is also a computer scientist who serves as an Uber software engineer; he holds a master's degree in computer science from Princeton University.
Justin Li, one of the co-founders, was an investment banker at Goldman Sachs and a data scientist at Mobike. Ray Xiao and Sa Wang co-founded an AI company Dora, and Jimmy Zhong was also part of the founders.
The Protocol IOST Uses
IOST employs a Proof of Believability protocol, a next-generation consensus algorithm that aims to process 100,000 transactions per second, making it ultra-fast and highly scalable.
The IOST team also designed the platform with a novel sharding architecture, combining features like Distributed Randomness protocol, Transepoch, Atomix, efficient distributed sharding, and Micro State Blocks, all working together to make it as scalable, secure, and decentralized as possible.
What Makes IOST Different From Other Cryptocurrencies
The platform employs a next-generation consensus algorithm (PoB) to solve blockchain problems like scalability, security, and speed.
Also, because the platform was built for enterprise use, it has partnered with several tech giants like Amazon, Facebook, and Google, also platforms like Sequoia, Huobi exchange Matrix partners Nirvana capital and INBlockchain; because of their vast followership, these organizations have been able to drive mass adoption of the platform.
The IOST team also made the platform developer-friendly by building an infrastructure layer that will accommodate the development and deployment of large dApps requiring high throughput. In addition, they are developing features like decentralized storage and feedback systems for developers to make their jobs easier.
The network also aims to reach the heights of platforms like Ethereum, Zilliqa, and NEO.
Factors Influencing The Price Of IOST
All Cryptocurrencies are known for their volatility which in turn makes them respond to external and internal factors that affect their prices negatively and positively; some of these factors are common phenomena, while some rarely occur, but when they do, they massively impact the prices of digital assets, including IOST.
In this section, we will discuss three factors that affect the price of IOST.
Supply And Demand
IOST was created with a limited supply, giving it an edge over fiat currencies and digital assets without a capped supply. The advantages of having a capped supply are numerous, including inflation or devaluation of the currency; for a cryptocurrency to maintain value, there needs to be some scarcity to drive up prices, but without a capped supply, this won't be possible as it may result, in excessive minting pumping out tokens that will overshadow demand.
When there is less or no demand, a crypto asset may lose value so much that it becomes useless. However, IOST continues to partner with several platforms giving its token more opportunities to circulate and catch the attention of investors. The token's numerous use cases also help it to gain vast followership shooting up its demand.
News Bodies And Government Regulations
News bodies and social media platforms are excellent tools to drive wider cryptocurrency adoption. However, this can also bring about negativity if the token or platform is painted in a bad light to the general public. An excellent example is Dogecoin, which attracted the attention of Elon Musk, CEO of Twitter when he tweeted about his support for the token; its prices increased sporadically as news bodies carried information on their platforms and channels.
The government also plays a vital role in developing and growing a platform or crypto assets. In addition, they help protect consumers from being exploited by financial institutions through some policies which prohibit platform owners from using customer funds saved or invested on their platform for personal gain. Sometimes also, government tax policies and strict investment regulations plans for official digital currencies can affect the prices of cryptocurrencies negatively or positively.
IOST fully complies with government regulations, which is why they have secured partnerships with tech giants and several other organizations.
Black Swan Events
In 2020 several crypto assets experienced massive yields and gains; this is primarily based on the fact that the world economy was under tremendous pressure all thanks to the covid19 pandemic, businesses closed down or took a break from active operations, and millions of people lost their jobs. The lockdown also complicated matters prohibiting individuals from moving from one place to another. It was in the wake of these events that several people started to turn to cryptocurrencies because they required no mobility, just a few funds and internet connections.
This massive adoption increased market prices, and all assets, including IOST, surged to life, attaining new ATH or reaching their current ones.
IOST Past Price Performance- A Complete Price History Of IOST
IOST token started at a floor price of $0.01 during the ICO (initial coin offering) hosted to market the token in January 2018, the goal of the ICO was to raise ETH, and they can raise over $31 million from the sale of only 40% of the tokens 21 million supply. 35% of the token was allocated to the IOST foundations, 12.5% was disbursed for community development, 10% went to the IOST team, and 2.5% was given to advisors and investors.
After launch, the token had a rapid price movement rising from $0.03748 to a high of $0.1365, but in early February, it dropped to $0.02922; prices were volatile from 2018 to 2020 as it developed a bearish trend.
However, in 2021, increased development of the IOST ecosystem and wider acceptance led it to a sporadic increase in 2021, and it rose from $0.00420 to $0.8002; in April, this increase resulted in a 100% return to investors in the first quarter of 2021. However, it could not continue with the bullish trend rapidly dropping to $0.0161 in June. However, three months later, in September, it surged to $0.0798. Nevertheless, it dropped again by the last quarter of the year and opened in 2022 at $0.0313 in January; for three months, it dangled between $0.03 and $0.02, and by March ending, it rose to $0.05401.
In April, the IOST foundation announced a $100 million incentive fund to entice developers on the Ethereum network to their ecosystem. The bearish plumb that came in May crippled several crypto assets, and many fell below their ATL; those that did not experience a significant decrease were prevented from reaching their ATH or achieving new ones.
IOST enjoyed a massive increase in 2021 and for a brief part of 2022. However, it has not been able to trade near its all-time high of $0.1365 in January 2018.
How Is IOST Doing Now
Currently, the IOS token is worth $0.008654, a 93.66% drop from its ATH, and ranks 136th in the crypto market with a market cap of over $160 million. IOST has gained a 1.39% increase in its price value in the last 24 hours, having a trading volume of over $20 million.
The token has a market dominance of 0.02% and an ROI of 63.19%; however, it still soars above its all-time low of 0.001562 with 454.05%. IOST trades at a daily high of $0.008964 and a low of $0.00839. even though IOST has lost a large amount of its ATH, it experienced little increase in the last 24 hours and has continued to stay afloat during this prolonged bear market ravaging the crypto market.
Even top assets like Bitcoin and Ethereum have strayed far away from their ATH with 75.94% and 75.51%, respectively. BTC is currently worth $16,549.98, and ETH presently trades at $1,194.85.
However, like all bear markets, this current one, even though prolonged, will eventually give way to a bullish trend, and all market assets will surge back to life.
Current Price Prediction Of IOST
IOST is trying to stay afloat and not succumb to the bear manner of saying even though it recorded a slight increase in the past 24 hours, it is still affected by the market sentiment projected during this bearish plumb. It has also failed to reach its ATH, just like several other digital assets in the crypto market.
Hopefully, a bullish trend will take over the market in the coming month bringing all assets, including IOST, to their ATH or helping them to set new records.
IOST Price Prediction For November
IOST has seen little increase in November, all thanks to the current bearish trend; it is presently trading at $0.008654. However, such an increase is insufficient to take it to its ATH. However, December, which will mark the last month of 2022, may bring about a bullish run, closing the year with its current ATH or surpassing it.
Nevertheless, the IOST crypto Price forecast by experts speculates that it will reach a minimum price of $0.309 and a maximum price of $0.0333 by the end of December. While this may look like a giant leap unlikely to occur, it's important to note that cryptocurrencies are very volatile and can sporadically increase price value. However, this IOST price prediction should not be the driving factor for buying any crypto assets, as this is NFA (not financial advice). Always do your research before buying or investing in any token.
Long-Term IOST Price Prediction For 2023
Much of 2022 was affected by the bearish plumb that gripped the crypto market without mercy, creating a sporadic price downtrend. However, price experts have made a long-term IOST price prediction that covers the whole of 2023.
The table below shows the long-term Price Prediction of IOST for 2023
Long-Term IOST Price Prediction For 2023-2030
By 2030 cryptocurrencies must have developed numerous use cases to help drive broader adoption and incorporation into mainstream economies. Bitcoin, the king of cryptocurrencies, will have been around for 21 years and 12 years for IOST. Cryptocurrency price experts have made a long-term IOST Price prediction for 2023-2030.
The table below shows the long-term Price prediction of IOST for 2023-2030.
Long-Term Price prediction By Experts
The crypto industry is filled with highly trained experts who conduct a technical analysis to determine the price action of cryptocurrencies in the coming years and months. These experts carefully study past price data of these assets to predict the following action of those currencies.
Among the experts in the industry are Cryptonewz, Tradingbeast, Coincodex, Zipmex, and Changelly; these experts are keenly interested in the price of IOST and have predicted its price movement in the coming years after carefully studying IOST's past price data.
However, it's important to note that their prediction is based on the careful study of past price data; cryptocurrencies are highly volatile and can experience sporadic changes in opposition to their predictions, therefore always do your research before buying or investing in a cryptocurrency as this is not financial advice (NFA).
Long-Term IOST Price Prediction By Cryptonewz
A well-known price prediction expert in the industry has made a long-term IOST Price Prediction that covers 2022 to 2026.
According to their IOST price prediction for 2022, the token will reach a minimum of $0.0303, a possible Maximum of $0.0333, and an average of $0.0332 as the closing price for the year. By 2023 IOST is expected to rise to a maximum price level of $0.0452, a minimum of $0.0445, and an average price of $0.0364. moving to 2024, IOST is predicted to reach a maximum price of $0.0505, an average of $0.0402, and a minimum price of $0.0310.
IOST price prediction 2025 expects the coin to continue its bullish run, reaching $0.0557 as the maximum price, $0.0485 as the average, and $0.0474 as the minimum price. 2026 which completes Cryptonewz IOST price prediction, the token will likely drop to $0.0493 as the maximum price, $0.0447 as the average price, and $0.0411 as the minimum price.
According to their price prediction, Cryptonewz expects IOST to be bullish, slightly dropping in 2026, showing an optimistic view on their part. However, it may look too good to be accurate as the token is currently trading between $0.008654 due to the bearish condition of the crypto market; nevertheless, when the crypto market resumes its bullish run, IOST and several other tokens in the crypto market will have the potential of experiencing massive increase that will catapult them to their ATH and eventually setting new records by surpassing them.
However, this price prediction should not be the driving force for buying any token, always do your research before investing or buying any cryptocurrency, as this is not financial advice (NFA).
IOST Long Term Price Forecast By Zipmex
Zipmex, another price expert interested in IOST, has a long-term Price Prediction of IOST for 2022, 2023, 2025, and 2030.
However, they decided to go along with the prediction of other experts, not making any themselves. Zipmex IOST price prediction for 2022, they decided to follow the prediction of Cryptonewz, which speculates that the token will reach an average of $0.0332, and that of DigitalcoinPrice, which expects the token to reach a maximum price of $0.0193.
By 2023 the token is expected to reach $0.0364 as the average price, according to Cryptonewz, while Digitacoinprice expects that the coin will reach $0.0195 as the average price.
IOST price prediction 2025 will see the token increase to $0.0474 as the average price, according to Cryptonewz; DigitalCoinprice also expects the coin to be bullish, increasing to $0.0260 as the average price. 2030 which completes the price prediction DigitalCoinprice expects it to reach $0.0627 as the average price, while Technewsleader also believes it will be extremely bullish, expecting it to reach an average price of $0.04500.
IOST Long-Term Price Prediction By TradingBeast
Tradingbeast, another coin expert, has made a long-term Price forecast of IOST covering 2022-2025.
According to their price prediction, IOST will close 2022 with a maximum price of $0.0148 and a minimum price of $0.0101. By 2023 it is projected to reach $0.0163 as the Maximum possible price, $0.011 as the minimum price, and $0.01309 as the average price. In 2024 it will increase to $0.0206 as the maximum price, $0.0165 as the average price, and $0.0140 as the minimum price by the end of the year.
IOST price prediction 2025 will see the token reach $0.0245 as the maximum price, $0.0196 as the average price, and $0.0167 as the minimum price, completing with the IOS long-term Price Prediction by Tradingbeast.
IOST Long-Term Price Prediction By CoinCodex
CoinCodex, another price prediction expert, has developed a long-term IOS token Price prediction from 2023 to 2025.
Their price prediction is based on market sentiments of four factors, Google growth, Facebook growth, Mobile growth, and internet growth, signified by two signals Buy and Strong Buy. Buy represents a bullish trend, while strong buy indicates a highly bullish market condition.
Coincodex predicts that IOST will have a strong buy signal based on Google and Facebook growth in 2023 and a Buy signal based on Mobile and internet growth. For 2024 it also indicated a strong buy signal based on Google and Facebook growth, while mobile and internet growth indicated a Buy Signal.
IOST price prediction 2025, which completes Coincodex IOST price prediction, will see the token showing a Strong buy signal based on Google and Facebook growth and a Buy signal based on Mobile and internet growth. IOST will have a possible maximum of $0.166 by the end of 2025 based on Facebook's growth.
IOST Price Prediction By Margex Technical Analysis
Margex experts recently conducted a technical analysis of IOST's past price data to determine its future price. Due to the market's current prolonged bearish condition, IOST has deviated from its ATH by over 90% in price value; however, IOST has the potential to experience sporadic increases due to its
Margex is a Bitcoin derivative platform that allows users to trade different types of crypto assets with a 100X leverage size and, at the same time, stake the tokens with the platform's unique staking pool, which offers up to 13% APY.
The rewards earned from staking are automatically sent to individual staking balances, all thanks to its no lockup period feature and Margex automated system.
Frequently Asked Questions- Most Frequently Asked Questions About IOST
IOST and IOS token are terms that cropped up several times in this article, and many times people ask questions about the IOST network. In this section, we will answer some frequently asked questions regarding IOST.
Will IOST Reach $100?
According to the IOST price prediction 2025 by Coincodex, the token is expected to reach $0.166.
What Will IOST Be Worth In 2025
According to Coincodex's IOST price prediction for 2025, the token will reach a maximum price of $0.166.
What Will IOST Be Worth In 2030?
IOS token price forecast by Technewsleader expects IOST to reach an average price of $0.04500 in 2030.
What Will IOST Be Worth In 5 Years?
According to the IOS token forecast by Changelly, the token will reach a maximum price of $0.0649 in 2027.
Does IOST Crypto Have A Future?
IOST is expected to have an average price of $0.04500 in 2030, according to Technewsleader, which means Price prediction experts are optimistic that the token will be around for a long time.
How High Can IOST Get?
According to the IOST price prediction 2025 by Coincodex, the token will reach $0.166 as its average price.