A new coin on the block, Biconomy ($BICO), needs to concretize its claims. How is it different from all similar tokens out there? You might have heard the complaint, $BICO‘s current price is too low compared to the real value of BICO. What’s the buzz on Biconomy?
For one, through Biconomy’s plug & play APIs, decentralized apps (dApps) will become accessible to anyone regardless of their crypto knowledge and experience. Biconomy helps remove blockchain headaches through features such as gas-less transactions, instant cross-chain transfers, and flexible gas payment options.
Today’s Biconomy price is $0.730420 USD with a 24-hour trading volume of $12,216,164. Biconomy is up 7.93% in the last 24 hours. The current CoinMarketCap ranking is #289, with a live market cap of $95,376,764. It has a circulating supply of 130,577,973 BICO coins and the max. supply is not available.
Let’s look into three exciting things about Biconomy: Web 3.0 genie, multichain relayer protocol, and gasless experience. Robust APIs to abstract away blockchain complexities so Dapps can delight everyday users? We’ve heard of similar blurbs from others, but let’s see how it’s possible.
What is Biconomy?
The Biconomy blockchain is an advanced implementation of the multi-chain scaling protocol to help solve blockchains’ usability and adoption issues. The multi-chain solution used on the Biconomy blockchain is the Multi-chain relayer protocol. It has remained an ideal way for third parties to relay transactions on behalf of other users, execution of cross-chain transactions across layer 2 blockchains and dApps. Finally, a unique feature of the Biconomy blockchain is the decentralized relayer network that ensures nodes are adequately powered, and processes are perfectly managed on the system.
- Usability – Biconomy provides a gas-less future where users don’t need to bother about blockchain nitty-gritty such as paying gas, choosing the right network or chain, performing black magic to ensure a quick successful transaction. Everything should just work seamlessly.
- Interoperability – Biconomy is building for a multi-chain future, but one where users don’t need to know it’s multi-chain. Everything is quick, affordable, and scalable but users don’t deal with added frustrations such as painfully slow cross-chain transfers & onboarding. Biconomy handles these under the hood so that the user has a smooth interoperable experience.
- Composability – Biconomy makes adding a better & simpler user experience to any dApp as simple as adding a lego piece. Their APIs & SDKs can be integrated onto any dApp, on all major chains, and for a huge variety of use cases.
The native digital currency of the Biconomy blockchain is the $BICO token. $BICO plays a vital role in the network as a token utility, stakeholder incentive for network operators, liquidity providers, and delegators. Besides, the $BICO token is a settlement currency for transactions on the network and is how the Biconomy blockchain charges transaction fees. It is worth noting that holders of the token can take part in the governance of the blockchain protocol since the amount of $BICO one holds is proportional to their voting power in the decentralized network.
According to Coin Market Cap, $BICO tokens in circulation presently are 65,374,608.00 BICO. While the total supply stands at 1 billion. The distribution of the token is as shown on the chart below:
BICO Development Roadmap
Source: Biconomy White Paper
Biconomy latest developments and announcements
Biconomy is stamping its stance in the blockchain world with many developments and partnerships lately. Recently, the blockchain protocol partnered with Metarun – the first blockchain-based P2E and P2W endless mobile runner game with NFT assets. According to Metarun, Biconomy will add ease and accessibility to its innovations.
Biconomy also has other strategic partnerships in place, and another that is important is with Chainswap. It is essential to know that this partnership would enable Biconomy to bring the fastest cross-chain transfers to the masses.
Biconomy Token Applications
The Biconomy token plays a crucial role in the DAO governance of the Biconomy ecosystem. From incentivizing stakeholders that are essential in maintaining the network’s security to rewarding participants who take part in the governance of the network. The following are the 3 roles of the Biconomy Token (or $BICO).
- Network fees
$ BICO’s plays a central part as the primary layer for transaction settlements and verification. Participants pay $BICO for any activity they process on the Biconomy network. When paying out rewards to node operators, the network does so in $BICO tokens. Additionally, node operators have to pay some Biconomy tokens when adding any information to the network.
- Incentive for stakeholders
Three stakeholders drive the Biconomy ecosystem: node operators, delegators, and liquidity operators. The node operators earn Biconomy tokens directly proportional to the amount of work they contribute to the network and the amount of $BICO stake on the blockchain. Also, if a node operator is liable for a mistake, the network slashes its stake as punishment.
There are two types of node operators: validators and executors. A validator will take note of transactions taking place on the network and record them on the blockchain. When an executor sees the transactions, their role is to take action, such as deriving a hash for each marketing block.
Delegators have a role in securing the network by contributing some Biconomy tokens as their stake. The rewards they get are proportional to their stake.
Finally, the liquidity providers provide liquidity to a diverse range of coins on the network, just as the name suggests. A transaction fee is charged every time a network user utilizes any liquidity pools to conduct a transaction. Besides, the liquidity providers earn $BICO tokens worth their stake on the network.
Through the DAO form of governance, network participants can vote, make decisions and propose ideas affecting the Biconomy ecosystem. Most of the decisions mainly involve implementing new code, new service offerings, or legislation concerning the disbursement of funds across the network. Looking at the bigger picture, DAO governance means that Biconomy is looking forward to growing a community-led sustainable blockchain.
How to build on Biconomy’s infrastructure
- The first step is to register your dApp on our dashboard, add smart contracts and manage the right methods.
- Later, you can also view your dApp statistics on the dashboard.
- The next step is to integrate our Mexa SDK in your dApp code using the API Key you get from the dashboard.
- To start sending gasless transactions, read the guide on enabling gasless transactions.
- To enable your dApps to allow users to pay fee in ERC20 tokens, read the guide on enabling paying gas in ERC20.
- To send transactions without changing RPC, read the guide on network agnostic transactions
Biconomy Technical Analysis
Source: Trading View
BICO is slightly above its 50 and 100-day Moving Averages in the 4-hour chart. However, its Bollinger Band is slightly expanding, which showcases how volatile the BICO/USD trading pair is. A slight bullish trend could see BICO move to $1.743, and if not, we could see its price move down to its support zone at $1.236. According to its technical oscillators, investors need to know that BICO is in the buy zone.
The current price of Biconomy is $1.53, with a 24-hour trading volume of $24,870,909. We update our BICO to USD price in real-time. Biconomy is up 1.47% in the last 24 hours. The current CoinMarketCap ranking is #283, with a live market cap of $175,124,022. It has a circulating supply of 114,812,731 BICO coins and the max. supply is not available.
BICO Price Prediction 2022- 2030
According to PricePrediction, Biconomy is predicted to reach a minimum level of $2.00 in 2022. According to their prediction, Biconomy will end 2022 with a maximum price of $2.33 with an average trading price of $2.06. A similar uptrend is expected in 2023, and the BICO minimum and maximum price would be $2.78 and $3.42. In 2024 the price of Biconomy is predicted to reach a minimum level of $4.11. The BICO price can reach a maximum of $5.00 with an average trading price of $4.23. The same trend applies till 2030, and according to Price Prediction, the BICO token may have an average price of $40.94 by that time.
Wallet Investor is bearish on Biconomy price prediction for the next five years. According to their price forecast, BICO will end 2022 at a minimum price of $0.0816 and a maximum price of $0.245. Furthermore, Wallet Investor also projects a downward trend in the price of Biconomy, and investors may lose up to 80% of their funds by May 2023. By 2023, Biconomy is expected to end the year at a minimum price of $0.0274 with a maximum price of $0.0823.
By May 2024, Wallet Investor says BICO investors may lose 95% of their funds. They forecasted that we may see the price move downwards and have a maximum price of $0.0455 by 2024. The same downtrend goes, and Wallet Investor predicts a 97% decrease in the price of BICO by the end of 2027 as the price would go down to $0.02.
Considering technical analysis and other fundamentals, we came up with our price prediction.
|Year||Minimum Price||Average Price||Maximum Price|
Biconomy Price Prediction 2022
Biconomy is poised for more collaboration and development in 2022, which could drive its market value in the crypto market. It is essential to know that in the first week of January 2022, Biconomy reached $4.78 when it dropped below $1.82 for the first time since January 2021. According to the investors and market experts, Biconomy is on its way to passing the $2.14 mark by 2022.
Biconomy Price Prediction 2023
There is a possibility that Biconomy can break through the $2.39 barrier and hold the market by the end of 2023. The lowest Biconomy price will be between $2.03 to $2.39, and the most likely Biconomy price will be steady at around $2.22.
Biconomy Price Prediction 2024
By 2024, market analysts and experts predict that BICO will start the year at $1.88 and trade around $2.54. According to their predictions, this would be extremely high compared to last year. This is really an acceptable jump in Bitcoin.
Biconomy Price Prediction 2025
There is a good chance that Biconomy 2025 Price Prediction will double in price, but it is also possible that it may not reach its expected maximum $3.32 level. Also, Biconomy is predicted to reach an all-time high of $2.96 or $3.32 in 2025, and it could be the year of Biconomy.
Biconomy Price Prediction 2026 and beyond
Biconomy Price Prediction, or BICO, will experience tremendous growth in 2026 as it has the potential to achieve new highs in terms of price points and market cap. Biconomy’s price is expected to surpass $2.91 in 2026. It has been predicted that Biconomy will reach the maximum price of $2.91, and the minimum price is expected to be around $2.46 in the next five years from 2026.
We also predict that Biconomy will cross a price level of $3.74 in 2027. Meanwhile, Biconomy is expected to reach a minimum price of $2.93 this year. The maximum price may reach $4.49.
By the beginning of 2028, the Biconomy Price Prediction and technical analysis predict that the cost of Biconomy will reach $4.81, and the price of BICO should reach $4.81 by the end of the year. In addition, BICO can reach up to $4.46 in price. From 2024 to 2028 time gap will bring significant years for Biconomy growth. In 2029, Biconomy Price Prediction is expected to cross the $6.19 average price level, according to Biconomy forecast and technical analysis. By 2029, Biconomy’s minimum price is expected to be $6.00. Additionally, BICO can reach a maximum price level of $6.45. At the end of 2029, Biconomy will have an average price of $6.45. The crypto market expects a significant price shift.ico
In 2029, the price of Biconomy BICO is expected to cross the $6.19 average price level, according to Biconomy forecast and technical analysis. By 2029, Biconomy’s minimum price is expected to be $6.00. Additionally, BICO can reach a maximum price level of $6.45. At the end of 2029, Biconomy will have an average price of $6.45. The crypto market expects a significant price shift.
Biconomy Price Prediction by industry experts
As Biconomy achieves most of its goals in 2022, and there is more adoption every year, @Zeeee_D believes that the BICO token would reach and surpass $10.
Biconomy BICO is an excellent project with a vision to improve user onboarding and transaction experience on decentralized applications (DApps). The project’s declared goal is to make web3 products as intuitive and easy to use as web2 products. Biconomy offers an infrastructure to solve several web3 bottlenecks such as making transactions easier and faster.
However, its success in the crypto market depends on if it can achieve most of its goals by 2022. Also, more collaborations can help spur its price to a greater height in the long term.