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GYEN Price Prediction 2023-2032: Will GYEN Rise Again ?

GYEN Price Prediction 2023-2032

The recent crypto bear market has strained liquidity out of crypto projects, including stablecoins. The past weeks have seen several stablecoins depegging, and Coinbase, one of the largest exchanges, is in legal trouble. Each and every coin’s value, including the GYEN crypto, is always at risk of falling. This GYEN Price Prediction may serve as a light in the tunnel during this crypto winter.

GYEN is a stablecoin provider that aims to stabilize the money market in crypto with multiple use cases. Most crypto-related companies like Gemini, Circle, and Coinbase offer USD-pegged stablecoins and some other issue tokens backed by other fiat currencies. Trouble starts when these exchanges freeze accounts for weeks, potentially locking in large losses for many customers.

GYEN was primarily designed with trading in mind. It allows investors to trade cryptocurrency and yen pairs without any need for centralised assets. Currently, GYEN can be traded on five exchanges, Liquid, INX, Nexus, Coinbase, and Uniswap.

Although the GYEN coin price is predicted to trade at about the value of the Japanese Yen (JPY), the digital asset underwent a massive crash, causing investors enormous losses. The users argued that although Coinbase claimed that the GYEN token was a stablecoin, its market movement was very far from that.

How much is GYEN worth?

Today’s GYEN price is $0.007308 with a 24-hour trading volume of $196,337. GYEN is up 4.44% in the last 24 hours. The current CoinMarketCap ranking is #605, with a live market cap of $19,979,931. It has a circulating supply of 2,733,961,999 GYEN coins and the max. supply is not available.

Analysts consider GYEN a bad, high-risk 1-year investment option, but past 2023, the crypto weather can change for the better. What’s your own perspective?

What is GYEN?

GYEN is a fiat-backed stablecoin built on the Ethereum blockchain. The code is open-source on Github. The price of Gyen digital assets is pegged to the value of the Japanese Yen (JPY). 

GYEN is backed by JPY on a 1:1 ratio. The collateral JPY is held at FDIC-insured bank accounts. Audits on bank reserves are made monthly. GMO-Z.com, the company behind GYEN and ZUSD, is regulated by the New York State Department of financial services. It is the first company to offer a JPY-backed stablecoin.

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You can trade GYEN with fiat on 4 GYEN exchanges. The largest amount of GYEN trading with fiat is done on Liquid. The most popular fiat pair is GYEN/JPY on Liquid.

How to Buy GYEN

The GYEN tokens can be purchased on Coinbase.com or the Coinbase app. It’s safe, secure, and easy.

How to withdraw GYEN from Coinbase From a web browser, select your cash balance under Assets. On the Cash out tab, enter the amount you want to cash out and then click Continue. Choose your cash-out destination and then click Continue. Click Cash out now to complete your transfer.

EKO represents investors who lost money when the GYEN destabilized and crashed. If you lost money when the GYEN peg broke, or have information about this case, please contact an EKO attorney.

GYEN Overview

According to Coinmarketcap, GYEN has a market capitalization of $20,148,169. GYEN has a total supply of 5,396,921,683 with a circulating supply of 2.7B. It currently trades at $0.007369.

You can purchase GYEN at Liquid, Coinbase, and Uniswap crypto exchanges. GYEN is trading on 5 cryptocurrency exchanges across 10 trading pairs. The most popular GYEN pair is GYEN/JPY on Liquid, where it has a trading volume of $ 120,901. You can trade GYEN with many fiat currencies including USD, JPY and many stablecoins such as USDC, USDT.

Users can also mint the new GYEN. This can be accomplished by linking your funding account to the GMO Trust account. New stablecoins are minted once funds arrive on the Etana Custody Account.

GYEN Applications

GYEN can be staked on Celcius and Nexus. These platforms offer competitive staking rewards. Celsius however has had trouble over the last week following liquidity troubles.

Nexus Vaults currently offers a 7% annual yield on GYEN deposits. The rates are however dynamic and vary according to market demand.

Nexus Vault Yields

On June 2 2022 GMO-z announced a partnership with INX limited.  INX runs a regulated cryptocurrency exchange. INX will bring GYEN and ZUSD stable coins to retail and institutional investors.

So what is the utility of the ZUSD stable coin?

  • Store of value in volatile crypto markets.
  • Higher interest on deposits than retail banks.
  • Fast, permissionless, and trustless payments.
  • Provision of liquidity to JPY retail and institutional investors.

How to Mine GYEN

To mine GYEN, computers spread around the world compete to solve cryptographic puzzles at the cost of processing power and therefore energy. Any miner who manages to solve the puzzle first is rewarded with GYEN (GYEN). These rewards compensate miners for securing the network, verifying transactions, and adding blocks to the blockchain.

In the mining process, the miner is an investor who provides energy, computer space, and time to sort through blocks. He submits his solutions to the issuers when the mining process finds the right hash. Miners receive rewards that are portions of the transactions for their participation in the mining process.

Cryptocurrency miners are responsible for increasing the circulation of a particular cryptocurrency in the market. Each cryptocurrency has an upper limit on the number of coins that can be mined. Thus, when the rewards are reduced, the influx of new cryptocurrencies also decreases.

  • GPU Mining (Graphics Card)

GPU mining involves using the graphics processing unit of a gaming computer to solve complex mathematical problems to verify electronic transactions in GYEN. The cards adopted for crypto mining are those specifically designed for gaming, not video renderings, such as NVIDIA and AMD.

  • Cloud Mining

Cloud mining is the easiest and most effective way to make money from cryptocurrency mining without having to buy and maintain your equipment. It is done by renting the equipment facilities of the company. These companies, which are simply digital mining farms – data centers dedicated to mining that sell or rent machines to cryptocurrency miners’ data – are most proficient at mining GYEN (GYEN).

GYEN Technical Analysis

GYEN currently sits below its 50-day and 100-day Moving Averages. The coin currently trades at $0.00737, and according to its 1D chart, the coin is in a bearish momentum. Furthermore, the next resistant zone of the coin is $0.00746, while its next support zone is $0.00720. However, if the coin gathers momentum in the next few days, it might rise and reach near its resistant zone at $0.00746; if not, it might dip and reach $0.00720.

GYEN Price Prediction by Cryptopolitan

GYEN Price Prediction 2023

According to our GYEN price prediction for 2023, we expect the GYEN coin to reach a maximum price of $0.011, with an average forecast price of $0.010. Therefore, the lowest trading price of the coin by then is expected to be $0.009.

GYEN Price Prediction 2024

Our GYEN price prediction for 2024 is a maximum price of $0.016, with an average trading price of $0.014. The lowest trading price of the coin is predicted to be $0.014. It is essential to know that if the coin experiences more developments in its ecosystem, we could see the GYEN coin reach new highs.

GYEN Price Prediction 2025

According to our GYEN price prediction, GYEN is expected to reach a maximum price of $0.023. Therefore, the average trading price of the coin is expected to be $0.021, while the lowest trading price of the coin is expected to be $0.020.

GYEN Price Prediction 2026

Our GYEN price prediction for 2026 states that the coin’s price range will hit a maximum base price of $0.035. We expect the stablecoin to continue its bullish run from the previous year while keeping a minimum and average price of $0.030 and $0.031, respectively.

GYEN Price Prediction 2027

Our GYEN Price prediction for 2027 shows that the token’s prices will increase from their current price. We expect the coin to reach a minimum price of $0.044 with an average price of $0.046 and hit a high of $0.053.

GYEN Price Prediction 2028

Our GYEN price prediction for 2028 is a maximum of $0.077. For the same year, we anticipate that the price of GYEN will range between a low of $0.063 and keep a constant average of $0.065. We expect the coin to continue increasing throughout the year.

GYEN Price Prediction 2029

Our GYEN price prediction for 2029 shows that the coin will continue to have a bull run, and the price could rise and potentially attain a maximum price value of $0.11. Although the price increases from the previous year, the coin will have to experience a minimum price of $0.091 and an average trading price of $0.094.

GYEN Price Prediction 2030

Our GYEN price prediction for 2030 indicates the coin will record more gains than losses leading to a maximum market price of $0.15. We also forecast a minimum price of $0.13 and an average market price of $0.13.

GYEN Price Prediction 2031

Our GYEN price prediction for 2031 showcases that GYEN is anticipated to keep rising, and the virtual currency may eventually reach a maximum value of $0.23. The minimum forecast price for GYEN could be $0.19, and the average price is expected to retrace to $0.19.

GYEN Price Prediction 2032

According to our GYEN price prediction for 2032, we expect the GYEN coin to reach a maximum price of $0.33, with a minimum trading price of $0.28. The average forecast price of the coin is expected to reach $0.29.

GYEN Price Prediction by Wallet Investor

Wallet Investor predicts that GYEN is an excellent long-term investment. They indicate the coin will reach $0.00760 in one year. In five years, they expect the coin to reach $0.00817.

GYEN Price Prediction by CryptoPredictions

According to CryptoPredictions, GYEN is expected to reach a maximum price of $0.011, with a minimum price of $0.0080 by 2023. The average forecast price of the coin is expected to be $0.0094.

Furthermore, CryptoPredictions expect GYEN to reach a maximum price of $0.0124. The lowest trading price of the coin is expected to be $0.0848 by 2024. The average forecast price of the coin is predicted to be $0.0099.

CryptoPredictions predicts that GYEN will reach a maximum price mark of $0.0155, with an average price of $0.012 by 2026. The lowest trading price of the coin is predicted to be $0.0105.

By 2027, GYEN is predicted to reach a maximum price of $0.0172, with an average forecast price of $0.01382. The coin’s lowest price by then is expected to be $0.01175.

GYEN Price Predictions by Digital Coin Price

Digital Coin Price gave a long-term prediction of Digital Coin Price. They expect the coin to reach a maximum price of $0.00724 by 2023.

By 2024, they predict that GYEN will reach a maximum price of $0.00725. From 2025 to 2027, Digital Coin Price expects GYEN to remain stable and worth $0.00726.

GYEN Price Predictions by Industry Experts

According to a popular crypto expert Crypto Investing, GYEN is predicted to be worth $0.00965 in the future. Here is their full GYEN price forecast on this coin.

Conclusion

GYEN, one of the few stablecoins pegged to the Japanese Yen, has caused a stir in many crypto sectors since its inception. Its objective is to remain stable and always be worth one Yen. The coin has been approved by numerous regulators, governments, and central authorities, allowing more developers to join the network and increase the usage of GYEN. Although investors are encouraged to conduct their own research, the coin’s value is anticipated to rise in the coming years. However, it is recommended that investors seek professional advice before investing in the ever-changing cryptocurrency market.

FAQs

How do I buy GYEN?

After transferring your Bitcoin to an exchange such as Binance, you can purchase other cryptocurrencies, including GYEN.

Where can I get GYEN wallet?

GYEN produces its own wallet software that is available for download on its website, which allows you to store GYEN on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the current value of 1 GYEN?

One GYEN (GYEN) is currently worth $0.01 on major cryptocurrency exchanges. You can also exchange one GYEN for 0.00000036 bitcoin(s) on major exchanges. The value (or market capitalization) of all available GYEN in U.S. dollars is $20.01 million.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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