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Polymesh Price Prediction 2024: What Will Happen to POLYX?

Last Updated February 27, 2024 8:54 AM
Peter Henn
Last Updated February 27, 2024 8:54 AM

Key Takeaways

  • POLYX spiked in October and is still trading higher than before its price boost. 
  • The Polymesh blockchain supports security tokens.
  • Can POLYX continue to shoot up?
  • One Polymesh price prediction says POLYX can reach $1.21 by the end of 2025.

The Polymesh blockchain’s POLYX coin was one of the biggest beneficiaries of October 2023’s crypto rally. The coin, which supports a network of security tokens, shot up by more than 200% in the space of just two weeks. 

Although the crypto was not able to sustain its high price level, it is still worth more than before it shot up last autumn.

On February 27, 2024, POLYX was worth about $0.1935.

Polymesh did not immediately respond to a request for comment.

But what is Polymesh (POLYX)? How does Polymesh work? Let’s see what we can find out, and also take a look at some of the Polymesh Price Predictions that were being made as of February 27, 2024.

Polymesh Coin Price Prediction

Let’s examine some of the Polymesh price predictions being made on February 27, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.40 $0.47 $1.39
Prediction #2 $0.2261 $0.5555 $1.05
Prediction #3 $0.2675 $0.3775 $2.22

First, CoinCodex  had a somewhat gloomy short-term Polymesh price prediction. The site said POLYX would fall to $0.1893 by March 3 before recovering a little to $0.2053 by March 28. The site’s technical analysis was, however, highly bullish, with 20 indicators sending positive signals and just five making bearish ones. 

Polymesh Price Prediction for 2024

DigitalCoinPrice  said that Polymesh could reach $0.40 this year. CoinLore ’s Polymesh price forecast had it trade at $0.2261 by March 8. PricePrediction.net  said POLYX would climb to trade at $0.2675 in 2024. 

Polymesh Price Prediction for 2025

Moving on, DigitalCoinPrice thought POLYX would trade at $0.47 next year. Meanwhile, CoinLore said it could be worth $0.5555 by the end of the year. PricePrediction.net thought the crypto would be worth $0.3775 in 2025.

Polymesh Price Prediction for 2030

Looking at a more long-term Polymesh price prediction, DigitalCoinPrice said that it would reach $1.39 in 2030. CoinLore said it would start the next decade at $1.05. PricePrediction.net’s POLYX price prediction had it worth $2.22 in six years time. 

Google Gemini AI Price Prediction for Polymesh (as of February 27)

Google’s Gemini AI platform gave the following price prediction for Polymesh on February 27. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short-term (next 1-3 months):

  • Prediction: Potential slight decrease, reaching around $0.19 by March 25th, 2024.
  • Reasoning: Algorithmic predictions suggest a short-term dip, possibly influenced by broader market movements.

Medium-term (next 3-6 months):

  • Prediction: Potential increase, reaching around $0.25 by August 22nd, 2024.
  • Reasoning: The project’s development and potential adoption might counter the short-term dip, leading to a price rise.

Long-term (next 1-3 years):

  • Prediction: Varied, ranging from $0.17 to $0.31 by February 23rd, 2025, depending on the source.
  • Reasoning: Long-term predictions are highly speculative and depend on various factors like project progress, market sentiment, and regulations.

Additional factors to consider:

  • Polymesh’s success hinges on its ability to gain traction in the regulated security token space.
  • Broader market trends, including cryptocurrency regulations and adoption, will significantly impact Polymesh’s price.
  • Unexpected events or announcements within the Polymesh ecosystem can cause price fluctuations.

It added: “Remember, these are just predictions, not financial advice. It’s crucial to conduct your own research (DYOR) before making any investment decisions.”

POLYX Price History

Now, let’s examine some of the highlights and lowlights of the Polymesh price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Polymesh price prediction.

When POLYX first hit the open market in May 2022, it was worth about $0.22. The coin’s price dropped soon after launch as crypto was shaken by the collapse of the Terra (LUNA) blockchain. Polymesh fell to below $0.15 in June. There was a spike to an all-time high of $0.3975 on October 17, but November’s news that the FTX (FTT) exchange had declared bankruptcy meant that it closed the year at $0.1151.

Polymesh in 2023 and 2024

Polymesh Price History
Polymesh spiked in October 2023 | Credit: CoinMarketCap

2023 ended up being a reasonably good year for POLYX. The crypto traded above $0.20 in February, fell below $0.15 in March and spiked above $0.25 in April. The following downturn was exacerbated by the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase Exchanges in June. On June 14, POLYX fell to an all-time low of $0.09918. The crypto was able to make something of a recovery, but by October 16, it was worth $0.119. After that, the coin enjoyed a growth spurt and, on October 30 it reached an all-time high of $0.4291. The crypto was unable to maintain its high price and it closed the year at $0.1912, an annual rise of 66%. That may have looked fairly impressive, but the overall crypto market more than doubled in 2023.

By February 27, 2023, POLYX was worth about $0.1935.

At that time, there were 820 million POLYX in circulation out of a total supply of a little over one billion. This gave the coin a market cap of $158 million, making it the 320th-largest crypto by that metric.

Is Polymesh a Good Investment?

It is difficult to tell. POLYX has managed to trade at higher than before its price spike, but it appears to be stagnating somewhat.  

On one hand, Polymesh is an interesting platform and one that is committed to real-world assets and regulation. On the other hand, some crypto purists may recoil from the blockchain’s commitment to accountability and, to a certain extent, centralization. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in POLYX.

Will Polymesh go up or down?

No one can really tell right now. While the Polymesh crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Polymesh?

Before you decide whether or not to invest in Polymesh, you will have to do your own research, not only on POLYX, but on other, related, coins and tokens such as Solana (SOL) and Ethereum (ETH). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Polymesh (POLYX) Explained

Polymesh  is a blockchain designed to help people use and develop their own security tokens. These allow people to own assets on the blockchain. In other words, Polymesh is a blockchain for regulated assets. 

The blockchain, which was founded in 2020 by a team of developers including Adam Dossa, Graeme Moore and Jesse Lancaster, is supported by the POLYX coin. 

How Polymesh Works

Polymesh uses a Proof-of-Stake (PoS) consensus mechanism. This means that people who hold POLYX can add blocks to the blockchain and secure the network. 

Anyone who wants to examine the chain can do so, but they will have to pass an identity check. The system is supported by computers, or nodes. These nodes are all operated by licensed financial entities. The system claims to be compliant with regulations, and it promises users confidentiality. 

POLYX pays for charges associated with the network. Holders can vote on changes to the network and people can buy, sell, and trade POLYX on exchanges. 

Polymesh Attention Tracker

Polymesh Google Search Volume
Polymesh Google search volume | Credit: Google

Here is a chart for the Polymesh Google search volume for the past 90 days. This represents how many times the term “Polymesh” has been Googled over the previous 90 days.

FAQs 

How many Polymesh are there?

On February 27, 2024, there were 820 million POLYX in circulation out of a total supply of a little over one billion.

Will Polymesh reach $1?

It might do. PricePrediction.net says it will break the dollar in 2028, CoinLore says it can get there in 2029 and DigitalCoinPrice says it can reach $1 in 2030.

Keep in mind that POLYX has never traded at $1. Its highest ever price is $0.4291, which it reached in October 2022.

What is Polymesh used for?

POLYX supports the Polymesh blockchain. People can buy, sell, and trade it on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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