As the decentralized finance (DeFi) market is saturated, settling on a specific protocol can be difficult. coin98 Want to narrow this selection. Its exchange leverages liquidity from various decentralized exchanges (DEX) and its wallet supports more than 40 blockchains.
While DeFi is the center of attention this year, it’s not for positive reasons. The collapse of parent Terra cryptocurrency LUNA and crypto lender Celsius Network has affected Coin98 and its native token. C98.
What is Coin98 (C98)?
Coin98 is looking to become the go-to app for DeFi trading. It is bundling multiple products together on different blockchains. Its own wallet, exchange and cross-chain bridge played an important role in this operation.
According to its supporting documents:
“We aim to create the best decentralized experience possible for veterans and newcomers alike in their journey into the crypto world and contribute to the accelerated growth and mass adoption of blockchain technology.”
The local exchange on Coin98 uses a multi-chain liquidity aggregator, which essentially allows users to trade across different blockchains with higher liquidity. These networks include Ethereum (ETH), BNB chain, Solana (SOL), Polygon (MATIC), and Avalanche (AVAX).
The assets can then be stored in its local wallet, where users can send, receive and manage their cryptocurrencies. They can implement them in various decentralized applications (DApps).
Hailing from Vietnam, Thanh Le is the former founder of Coin98. After working as a systems engineer for a research lab at a university, he co-founded a software engineering startup before eventually diving into the crypto market.
Coin98 has created its own cryptocurrency to serve as the platform’s native utility token. There are various use cases to encourage long-term holders of the coin. C98 can be used to pay transaction fees and stake for returns.
The token is also used for governance, where investors can have a say in the future of the platform.
“C98 token holders may propose and vote on governance proposals to determine the features and/or parameters of the Coin98 Exchange and its products,” Coin98 documentation explains.
Finally, C98 holders will receive incentives and “exclusive membership rights” to invest in the coin. These include access to products, its launchpad and stocking events.
Previous performance of C98
C98 Price Chart
C98 is fairly new to the crypto market, having only launched last year. According to this CoinMarketCap The token opened at $0.74 on 24 July 2021 and immediately started to rise. It listed Binance C98 a day before CoinMarketCap. By the end of the month, it had crossed $1.
August proved to be a busy month for Coin98. The DeFi exchange has listed more than 20 new tokens from multiple chains, including AGAR snowfall and BIFI from Polygon.
Coin98’s next surge came after the platform hosted an airdrop during Halloween. A total of $5,000 worth of JOE tokens are up for grabs for those participating in social media activities and trading in the C98 wallet. C98 rose to a high of $4.36 on November 3.
The DeFi token saw another slight rally in December as Binance announced a trading event with the cryptocurrency. New Binance users who trade C98 were given the chance to earn $10,000 worth of tokens. But it could only muster a high of $2.98 on December 28.
So far, 2022 has proven difficult for C98, with the DeFi markets shattered by the fall of Terra in May and Celsius in June. The token fell to its all-time low of $0.35 on May 12.
It has gained quite a bit from this low. As of 8 August, C98 is trading at approximately $0.5979.
Coin98 price prediction
Although there is a range of C98 coin price predictions, there is a bullish consensus among forecasters.
At the time of writing, AMB Crypto It is suggested that the token may exceed $1.35 this year and $2 in 2026. Its optimistic Coin98 price prediction for 2030 has given it a maximum price target of $7.94.
Tech News Leader It indicated the coin could achieve $0.90 within a year, while its Coin98 price prediction for 2025 estimated a price target of $1.89. As of 8 August, the token is predicted to rocket from $10 to $11.67 by the beginning of the next decade.
Forecast from Price prediction That’s in line with the $0.67 peak price target expected for this year. The C98 token price prediction indicated an average of $5.54 in 2028 and $11.14 in 2030.
Finally, the CaptainAltcoin The Coin98 price prediction for 2022 stated that the token could drop to above $0.30 in October. The momentum will repeat again and C98 is projected to rise to $3.23 in 2030.
When considering Coin98 coin price predictions, it’s important to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to predict exactly what a coin’s price will be in a few hours and difficult to give long-term estimates. Likewise, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Check the latest market trends, news, technical and fundamental analysis and expert opinion before taking any trading decision. Remember that past performance is no guarantee of future returns. And never trade money you can’t afford to lose.
How many Coin98 coins are there?
As of 8 August 2022, there was a circulating supply of 185 million C98 and a peak supply of one billion tokens.
Is Coin98 a good investment?
Coin98 aims to facilitate decentralized finance (DeFi) services, investing in blockchains and digital assets. Its native token, C98, plays an important role in financing and incentivizing long-term users, but it has struggled in recent months.
In volatile cryptocurrency markets, it’s important to do your own research to determine which token is a good fit for your investment portfolio. Whether C98 is the right investment for you depends on your risk tolerance, portfolio size, time frame and goals, and your experience in the cryptocurrency markets. Remember that past performance is no guarantee of future returns and never invest money you can’t afford to lose.
Will Coin98 Rise?
As of 8 August, TechNewsLeader and PricePrediction estimate that the coin could surpass $10 by 2030. CaptainAltcoin, on the other hand, predicted a pullback before the token regained traction. Remember, cryptocurrencies can be highly volatile and prices can go up as easily as they can go down. Analysts and algorithm-based forecasters can and do get their predictions wrong. Remember that past performance is no guarantee of future returns. Always do your own research, and never trade money you can’t afford to lose.
Should I invest in Coin98?
It depends on your personal circumstances such as risk tolerance, portfolio goals, size and time frame, and how experienced you are in the cryptocurrency markets. C98 is designed for users of its decentralized finance (DeFi) platform. Token holders get access to exclusive events, products and prizes. But the token took a beating during the recent crypto crash. Whether it is the right property to invest in is a question you need to answer for yourself. However, before you do so, you need to do your own research and never invest so much money that you can afford to lose.