GYEN coin price is predicted to trade at about the value of the Japanese Yen (JPY). According to several reports, the digital asset recently 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.
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.
More restrictions are on the horizon due to coming events affecting enthusiasts’ crypto sentiments.
Today’s live GYEN price is $0.007016, with a 24-hour trading volume of $40,404.26. GYEN is up 2.49% in the last 24 hours. The current CoinMarketCap ranking is #619, with a live market cap of $19,181,543. It has a circulating supply of 2,733,961,999 GYEN coins, and the max. supply is not available.
According to Coinbase, the price of GYEN has fallen by 1.45% in the past 7 days. The price increased by 1.08% in the last 24 hours. In just the past hour, the price shrunk by 0.01%. The current price is $0.007003 per GYEN. GYEN is 97.94% below the all-time high of $0.34. The current circulating supply is 2,733,961,999 GYEN.
What is Gyen?
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 stable coin.
How to Buy GYEN
The GYEN tokens can be purchased on Coinbase.com or the Coinbase app. It’s safe, secure, and easy.
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 stable coins are minted once funds arrive on the Etana Custody Account.
Gyen can be staked on Celcius and Nexus. These platforms offer competitive staking rewards. Celsius however has had trouble over the last one 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.
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 price analysis for September 8, 2022, reveals the market following a complete bearish movement, obtaining massive negative momentum, signifying a decline for the GYEN market. The price of GYEN has remained negative over the past few hours. Today, the price crashed and went from $0.00696 to $0.00693. However, the market started to increase in value soon after and regained most of its value. Moreover, GYEN has increased and reached $0.00693.
GYEN price analysis reveals the market’s volatility following an opening movement. This means that the price of GYEN is becoming more prone to the movement towards either extreme, showing further declining dynamics. The Bollinger’s band’s upper limit is $0.00738, which is the strongest resistance for GYEN. Conversely, the lower limit of Bollinger’s band is $0.00693, another resistance point for GYEN.
The GYEN/USD price appears to be moving under the price of the Moving Average, signifying a bearish movement. The market’s trend seems to be dominated by bears. The GYEN/USD price appears to be moving downwards, illustrating a decreasing market. The market appears to be broken, which will trigger a reversal movement; there might still be hope for the bulls yet.
GYEN price analysis reveals that the Relative Strength Index (RSI) is 21, showing an extremely undervalued cryptocurrency stock. This means that the cryptocurrency falls under the lower neutral region. Furthermore, the RSI appears to move upward, indicating an increasing market. The dominance of selling activity causes the RSI score to decrease.
GYEN price analysis reveals the cryptocurrency follows a strong downward trend with much room for further activity on the declining extreme. Moreover, the market’s current condition appears to be following a negative approach. Therefore, we can assume that the bears will start making their moves soon to maintain their control over the market.
GYEN Price Predictions by Cryptopolitan
Gyen Price Prediction 2022
In 2022 Gyen’s price is predicted to reach a minimum level of $0.007. The GYEN price can reach a maximum price level of $0.008 with an average trading price of $0.008.
Gyen Price Prediction 2023
The price of GYEN is predicted to reach a minimum level of $0.013 in 2023. The GYEN price can reach the highest price of $0.015 with an average price of $0.013 throughout 2023.
Gyen Price Prediction 2024
In 2024 the price of GYEN is predicted to reach a minimum level of $0.019. The GYEN price can reach a maximum level of $0.022 with an average trading price of $0.020.
Gyen Price Prediction 2025
The price of GYEN is expected to reach a minimum level of $0.027 in 2025. The GYEN price can reach a maximum level of $0.033 with an average price of $0.028 throughout 2025.
Gyen Price Prediction 2026
GYEN price is forecast to reach the lowest possible level of $0.040 in 2026. As per our findings, the GYEN price could reach a maximum possible level of $0.046 with the average forecast price of $0.042.
Gyen Price Prediction 2027
In 2027 the price of GYEN is forecasted to be at around a minimum value of $0.058. The GYEN price can reach a maximum of $0.071 with an average trading value of $0.060.
Gyen Price Prediction 2028
The price of GYEN is predicted to reach a minimum value of $0.081 in 2028. The GYEN price could reach a maximum value of $0.099 with the average trading price of $0.084 throughout 2028.
Gyen Price Prediction 2029
In 2029 the price of GYEN is expected to reach a minimum price of $0.12. The GYEN price can reach a maximum price of $0.14 with an average value of $0.13.
Gyen Price Prediction 2030
The price of GYEN is predicted to reach a minimum value of $0.18 in 2030. The GYEN price could reach a maximum value of $0.21 with an average trading price of $0.18 throughout 2030.
Gyen Price Prediction 2031
GYEN price is forecast to reach the lowest possible level of $0.24 in 2031. As per our findings, the GYEN price could reach a maximum possible level of $0.31 with the average forecast price of $0.25.
Gyen Price Prediction by Price Prediction.net
Regarding long-term GYEN price forecasts for 2030, specialists provide two opposing viewpoints. According to PricePrediction.net, the price of GYEN will continue to rise until it reaches $0.00807 by the end of the decade. The prognosis of an upswing to $0.010048 reflects TradingBeast’s price prediction for GYEN. In spite of this, WalletInvestor’s prediction of a decline to $0.000557 remains unfavorable.
Gyen Price Prediction by Wallet Investor
GYEN investors could anticipate a price increase of $0.013705 in 2023, according to WalletInvestor, which sounds like a decent reason to think about GYEN as an investment choice. PricePrediction.net forecasts a rise to $0.01301.
Gyen Price Prediction by Tech News Leader
According to Tech News Leaders Gyen price forecast, the price of GYEN will rise over the course of the next five years and reach $0.044 by the end of 2025. You never know, even when the price seems excessive. GYEN and other cryptocurrencies are extremely erratic and subject to sudden changes in value.
GYEN Price Predictions by Industry Influencers
Mind your Crypto Youtube channel goes through GYEN price predictions. He comments that GYEN has a low market cap and potential to grow.
GYEN price predictions from various industry players are contradictory. GYEN price should, however, go up in the long term. Negative news or market crashes could, however, derail the upward trend.
GYEN value will trade higher in the second half of 2022. From 2023, GYEN will trade in bullish market cycles. GYEN is expected to trade at an average of $ 0.21 in 2030 and $0.32 in 2031.
As for Coinbase, it could face a class-action lawsuit over unstable stablecoins. There’s been an outrage from investors and financial regulators are taking action.
GYEN has transformed several industries since its release. The coin has received approval from several regulators, and a group of specialized developers is working hard to promote it and broaden its use. One of the few, if not the only, cryptocurrency providers with a yen-pegged currency is GMOZ. As a result, it has a competitive edge over the oversaturated US dollar stablecoin market.
However, Mitsubishi’s largest financial firm in Japan, declared earlier this year that it intends to launch its own yen stablecoin. According to Mitsubishi, the Progmacoin will be available in 2023. Uncertainty exists over the viability of GYEN’s first mover advantage, particularly in light of the ongoing class action litigation.
Cryptocurrencies are highly volatile. Traders should exercise extreme caution when investing in GYEN.