Why is Chia Coin (XCH) rising?

A few years ago, the developers at Chia Network Inc., seeking to improve the existing consensus models, launched the Chia Network, which utilizes the Proof of Time and Space (PoST).

The PoST algorithm is described as a massive upgrade as it consumes much less energy than Proof-of-Work and  Proof-of-Stake during mining operations. Since its launch, the Chia Network has witnessed a favorable level of adoption, with its native token, the XCH, presently being mined in over 160 nations worldwide.

What is Chia (XCH)?

The Chia coin was released on 17 March 2021 by Chia Network Inc, owned by a computer programmer and founder of BitTorrent, Bram Cohen. The Chia crypto is represented as XCH and runs on the Chia Network, a public and open-source blockchain with a personalized programming language known as Charlisp.

The price of XCH is currently around $31 on Coinmarketcap. The token has a market capitalization of $182,886,790, from a circulating supply of 5,867,202 XCH tokens.

Why is XCH rising?

Besides the organic growth from the technological advances in the Chia network, the native token has been increasing lately due to strategic partnerships and new developments.   Recently in April, Chia announced it has also collaborated with the storage industry to launch the Circular Drive Initiative, aimed at reducing e-waste through the secure reusing of drives from data centers.

Of recent, WorldBank collaborated with Chia Network to create a Climate Warehouse Public Observer Node, built on Chia Blockchain. This collaboration drives innovation in sustainability to tackle the world’s climate issues.

Chia coin price prediction by Wallet Investor

Wallet Investor says Chia coin is a bad long-term investment as the website suggests the cryptocurrency will decline in value towards  $3.125 by the end of 2022, which represents a 96.363 percent decline. Wallet Investor also suggests that the Chia coin will continue declining for the rest of the years and may not recover.

Cryptopolitan price prediction

2023 Chia is expected to reach a maximum of $150.28, a minimum of $122.65, and an average price of $126.26. 2025 Chia is predicted to reach a maximum of $324.10, a minimum of $261.46, and an average price of $269.17.  2030 Chia is expected to reach a maximum of $1,994.26, a minimum of $1,661.73, and an average price of $1,709.24.

How can you acquire XCH, the Chia Coin?

You can now use an audited and fully backed stablecoin to acquire XCH in a trustless and peer-to-peer way using Offers.

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