Key Takeaways

• The XRD coin looked to be recovering from a market slump but the news that its latest upgrade was to be delayed by two months saw it fall 25% in a week.
• XRD is the native token of Radix, a blockchain that helps people create decentralized finance applications.
• Can Radix recover from its recent losses?

Radix is one of many blockchains that allows people to create their own decentralized applications (DApps). While there was some excitement about it when it came out in the autumn of 2021, it had a pretty terrible year in 2022.

Although excitement about its latest iteration saw it rise in 2023, the news  that the upgrade, named Babylon and designed to help people create smart contracts, computer programs that automatically execute once certain conditions are met, had been delayed saw its XRD coin fall by more than a quarter in the course of a week in late June and early July. 

The platform’s investors will be hoping that the system can right itself before Babylon comes out in late September. 

But what is Radix (XRD)? How does Radix work? Let’s see what we can find out, and also take a look at some of the Radix Price Predictions that were being made as of 4 July 2023.

Radix (XRD) Explained

Decentralized finance (DeFi) is one of the most important concepts in blockchain-based finance. The idea that people should be able to access financial services without having to deal with traditional, centralized, institutions like banks is key to the same sort of thinking that gave us cryptocurrency.

Radix  is a blockchain that operates in the increasingly crowded DeFi space. The platform, which was founded by British software developer and crypto entrepreneur Dan Hughes in 2013, was originally called eMunie. It is designed to be able to handle high traffic levels without slowing down and allows people to build their own decentralized applications (DApps) on the network.

Radix is supported by its native token, which goes by the ticker handle XRD.

How Radix Works

Radix is based on a form of Proof-of-Stake (PoS) consensus mechanism, which means people add blocks to the blockchain-based on how much XRD they hold.

The system uses sharding, which means that the blockchain is, in effect, split up into different segments. This means, at least in theory, that it is quicker and able to deal with more people using the network without becoming too slow. 

DApp developers on the Radix blockchain use a programming language called Scrypto to create their apps. 

In terms of the XRD coin, as well as being used to help add blocks to the chain, it can also be staked in return for rewards, paid in XRD. 

XRD can also be bought, sold, and traded on exchanges. 

XRD Price History

Let’s now take a look at the Radix price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Radix price prediction. 

Radix first came onto the open market in September 2021, when it was worth about $0.1685. It fell to $0.1013 on 21 October but a buoyant market, boosted by Bitcoin (BTC) reaching record levels, saw it hit its all-time high of $0.6538 on 14 November. Following that, though, the coin fell and it closed the year at $0.2464. 

Although hopes were high for the XRD coin in 2022, they were snuffed out by a brutal and uncompromising market. A series of crashes saw it fall below $0.10 in May and $0.07 in June. 

Any idea that things would get better went away when the FTX exchange declared bankruptcy in November, leaving XRD at an all-time low of $0.03154 on 29 November. There was some upward movement after this and Radix was worth $0.03439 by the end of the year. This means it had lost more than 85% across the course of the year. 

So far, 2023 has been a comparatively positive year for XRD. The coin rose to over $0.50 in late January, dropped down, and then, following the news  that the Babylon upgrade to the system’s mainnet would happen in July, it shot up to a high of $0.1508 on 18 April.

XRD fell below $0.10 in early May and, in June, the coin floundered in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase crypto exchanges, dropping to $0.05495 on 15 June. There was a recovery with the market, and it reached $0.08614 on 27 June. 

Unfortunately, the news that Babylon would be delayed until 27 September saw it drop and, on 4 July 2023, XRD was worth about $0.0635.

At that time, there were 10.2 billion XRD in circulation out of a total supply of 12.6 billion. This gave the coin a market cap of a little under $650 million, making it the 211th-largest crypto by that measurement.

Radix Price Analysis

Before the SEC said it was suing Binance and Coinbase on 5 June, XRD was worth $0.06773. It lost nearly 20% in the course of 10 days, before rising more than 55% by 27 June. That price meant it was worth more than 25% than before the market dropped. 

In the week since then, its value has decreased by more than 25%, with its current value down about 6% from before the crash. 

Radix Coin Price Prediction 

With that all out of the way, let’s take a look at some of the Radix price predictions that were being made as of 4 July 2023. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. 

First, CoinCodex  made a short-term Radix price prediction that said it would get to $0.06434 by 9 July before continuing to rise to reach $0.09663 by 4 August. The site’s technical analysis was, surprisingly, bearish, with 18 indicators sending discouraging signals compared to just eight making bullish ones. 

Radix Forecast for 2023

In terms of what other sites had to say in their Radix price predictions for 2023, Bitnation  said that the coin would reach $0.09528, while PricePrediction.net  was more cautious, saying it would stand at $0.076. DigitalCoinPrice , on the other hand, was far more confident, making a XRD price prediction that saw it trade at $0.14 this year. 

Radix Forecast for 2025

When it came to making a Radix price prediction for 2025, both DigitalCoinPrice and Bitnation thought it would trade somewhere in the region of $0.22, while PricePrediction.net lagged behind, saying XRD would get to $0.16 in two years time.

Radix Forecast for 2030

Looking forward to a more long-term Radix price prediction for 2030, PricePrediction.net was very optimistic, suggesting XRD would be worth about $0.98 that year, while Bitnation had it at $0.53994 and DigitalCoinPrice said it would trade at $0.66 at the start of the next decade.

Is Radix a Good Investment?

It is difficult to tell. While the news of yet another delay to the Babylon upgrade has damaged XRD’s price, the fact that there is going to be an upgrade suggests that there could be some serious interest in the platform come Autumn.

On the other hand, XRD has suffered major losses over the last 18 months or so and, with a plethora of DeFi-related blockchains for people to choose from, Babylon will have to be the thing that makes more people sit up and take notice of Radix. 

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

Will Radix go up or down?

No one can really tell right now. While the Radix 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 Radix?

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

FAQs 

How many Radix are there?

On 4 July 2023, there were 10.2 billion XRD in circulation out of a total supply of 12.6 billion.

Will Radix reach $1?

It could do, but it won’t happen for some time yet. PricePrediction.net thinks it might break past the dollar in 2030, but that it is more likely to happen in 2031, while DigitalCoinPrice has it reach that level in 2032. 

It is worth noting that Radix’s all-time high is less than $1, with it peaking at $0.6538 in the middle of November 2021. 

What is Radix used for?

The XRD cryptocurrency is used to secure the Radix blockchain, and it can also be bought, sold, and traded 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.