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GYEN Price Prediction 2023-2031: Will GYEN Rise Again ?

gyen price prediction

GYEN Price Prediction 2023-2031

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.

Today’s GYEN price is $0.007304 with a 24-hour trading volume of $164,446. GYEN is up 0.07% in the last 24 hours. The current CoinMarketCap ranking is #559, with a live market cap of $19,967,511. It has a circulating supply of 2,733,961,999 GYEN coins and the max. supply is not available.

For now, we consider GYEN a bad, high-risk 1-year investment option but past 2023, the crypto weather can change for the better.

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.

GYEN Price Prediction 2023-2031: Will GYEN Rise Again ? 1

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’s New Developments

The company behind GYEN, GMON Trust, the world’s first regulated JPY-pegged stablecoin issuer, announced that the GYEN coin is now available on the Stellar Network.

GYEN Technical Analysis

GYEN Price Prediction 2023-2031: Will GYEN Rise Again ? 2

The GYEN coin currently sits above its 50-day and 100-day Moving Averages, signaling bullish momentum. However, GYEN reached its highest price on Nov 18, 2021, when it was trading at its all-time high of $ 0.017516. The lowest price since its ATH was $ 0.006253 (cycle low). The highest GYEN price since the last cycle low was $ 0.007479 (cycle high). Technical indicators point to the buy zone, asking investors to buy the coin. Conversely, a bullish reversal is expected if GYEN takes the $0.070 support zone. If GYEN breaks its higher resistance zone of $0.0073, we might see a con

GYEN Price Prediction by Cryptopolitan

Stablecoins have emerged as crucial assets for regulating the cryptocurrency ecosystem. But, more than 30% of the liquidity of various digital assets and stablecoins has been lost due to the recent failure of the renowned crypto exchange firm FTX. The stablecoin GYEN is an excellent addition to the list this year. However, the current crypto winter has caused the Japanese Yen to lose its peg to the GYEN (JPY), but we expect things to change very soon for the GYEN coin. Due to the current crypto market volatility, we refrained from making further price predictions for 2022.

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GYEN Price Prediction 2023

Our GYEN price prediction for 2023 will reach a minimum price value of $0.013 with an average of $0.011 and is expected by the end of the year to have reached a maximum price of $0.013 in the crypto market. The GYEN ecosystem boasts robust and overwhelming fundamentals, and we expect the coin to recover fully by 2023.

GYEN Price Prediction 2024

Our GYEN price prediction for 2024 is expected to hit a high of $0.018. For the same year, we anticipate that GYEN will have an average price of $0.015 and a minimum of $0.015. GYEN may be bullish in 2024 following more listings in the crypto market.

GYEN Price Prediction 2025

Our GYEN price prediction for 2025 will attain trade as high as $0.025. Additionally, we project a $0.022 minimum price and an average price of $0.022.

GYEN Price Prediction 2026

Our GYEN price prediction for 2026 states that the coin’s price range will hit a maximum base price of $0.038. 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 to see the coin reach a minimum price of $0.044 with an average price of $0.045 and hit a high of $0.053.

GYEN Price Prediction 2028

Our GYEN price prediction for 2028 is a maximum of $0.074. For the same year, we anticipate that the price of GYEN will range between a low of $0.065 and keep a constant average of $0.067. 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 $0.097 and an average trading price of $0.100.

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 $0.17. We also forecast a minimum price of $0.14 and an average market price of $0.14.

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 $0.25. The minimum forecast price for GYEN could be $0.21, and the average price is expected to retrace to $0.21.

GYEN Price Prediction by Wallet Investor

According to Wallet Investor, GYEN is a bad long-term investment. They expect the coin to be worth $0.00543 in one year. In five years (2027), they expect GYEN to devalue by 96.189%, making it not a good investment choice.

GYEN Price Prediction by Cryptopredictions

According to Cryptopredictions, GYEN is expected to be bullish by 2023. They expect the coin to reach a maximum price of $0.011, with a minimum price of $0.007 by then. Furthermore, Cryptopredictions also expects the GYEN coin to have a maximum price of $0.015, with a minimum price of $0.009 by 2025. By 2026, the coin is predicted to reach a maximum price of $0.017 with a minimum price of $0.011.

GYEN Price Predictions by Digital Coin Price

Digital Coin Price predicts that GYEN will reach a maximum price of $0.0189, with a minimum price of $0.0156 by 2023. The average price of the coin is expected to be $0.0171.

By 2027, they expect the coin to reach a maximum price of $0.0398 with a minimum price of $0.0346. The average forecast price of the coin by then is expected to be $0.0396.

Digital Coin Price predicts GYEN will be worth $0.11 maximum by 2030. The coin is also expected to have a minimum price of $0.10, with an average trading price of $0.10.

By 2031, GYEN is expected to skyrocket, according to Digital Coin Price. They predict that the coin will be worth $0.14.

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.

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Conclusion

One of the few stablecoins tied to the yen fiat currency is called GYEN. The coin’s objective is to remain stable and always be worth one Yen. Since its debut, GYEN has experienced a singular transformation in many crypto sectors.

Additionally, several regulators, governments, and central authorities have approved the coin, enabling additional developers to join the network and increase usage. We predict the coin to increase in value in the next few years. Nonetheless, investors are advised to conduct their own research and seek advice from industry experts before investing in the volatile cryptocurrency market.

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.

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.

Alden Baldwin

Alden Baldwin

Journalist, Writer, Editor, Researcher, and Strategic Media Manager: With over 10 years of experience in the digital, print and public relations industries, he has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a a self sustaining institute that provides free education. He is working towards funding his own startup. As a technical and language editor, he has worked with multiple top cryptocurrency publications such as DailyCoin, Inside Bitcoins, Urbanlink Magazine, Crypto Unit News and several others. He has edited over 50,000+ articles, journals, scripts, copies, sales campaign headlines, biographies, newsletters, cover letters, product descriptions, landing pages, business plans, SOPs, e-books, and several other kinds of content.

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