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This year has been a tough sail for Radix since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of XRD.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Radix to reclaim its all-time high in 2023? Continue with the article to learn about Radix price analysis and prediction by Coinpaper.
Read also: What are Ethereum killers? Five protocols that can potentially dethrone Ethereum
What is Radix?
Radix is a Layer 1 smart contract platform that utilizes a unique asset-oriented programming language, Scrypto, a consensus model called Cerberus, which “braids” consensus across a massive “shardspace,” and its own virtual machine Radix Engine. The XRD token is the network's native cryptocurrency that is used to secure the Radix blockchain by staking it as part of Radix’s Delegated Proof of Stake system.
Radix (XRD) price
Currently, Radix Price is USD. XRD has a circulating supply of coins and a total supply of . If you are looking to buy or sell Radix, Bitfinex is currently the most active exchange.
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Radix price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Radix 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Radix price at $0.06 to $0.08. On the flip side, a fading interest in the new meme coin may push the price of Radix to $0.02-$0.0016 lows.
Radix price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Radix (XRD) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Radix to climb as high as $0.1, with the more distant prospect of reaching $0.15 in 2024. The bearish scenario is likely to see Radix (XRD) trading between $0.06 and $0.045 in 2024.
Radix price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Radix (XRD) price analysis and prediction is based on pure speculation and observation of Radix historical price movements.
Our Radix 2025 price forecast expects XRD to rally towards $0.18 and reach $0.2 by the end of the year. The bearish scenario would see Radix at $0.15 to $0.11.
Radix (XRD) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Radix is neutral. In 2026, we expect Radix to reach at least $0.3 before climbing higher to $0.32. In case of a bearish scenario, Radix may fall to $0.19.
Is Radix (XRD) a good investment?
For now, it looks like the token didn’t perform well throughout the 2022, which can be partially attributed to the lack of investors’ appetite for new Layer 1 blockchains. Radix, unfortunately, failed to occupy a meaningful niche in crypto ecosystem and will most likely continue to see a fading interest from its user base in 2023.
Bottom line
Are you ready to invest in Radix? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy XRD from many crypto exchanges, including Bitfinex
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Radix?
Radix was founded in 2013 by Dan Hughes and Piers Ridyard.
What was the all-time high for Radix (XRD) ?
The all-time high price of Radix is $ on 2021-11-14
