GYEN coin price is predicted to trade at about the value of the Japanese Yen (JPY). According to several reports, the digital asset recently underwent a massive crash, causing investors enormous losses. The users argued that although Coinbase claimed that the GYEN token was a stablecoin, its market movement was very far from that.
The lawsuit claimed that Coinbase aggravated the incident by blocking access to the token. This prevented sales of the tokens, resulting in massive losses on their part. The investors listed in the sheet are currently pushing the lawsuit on behalf of all the investors on the platform affected by the GYEN issue. However, they have yet to receive compensation, as the case is still in its early stages.
The recent crypto bear market has strained liquidity out of crypto projects, including stablecoins. The past weeks have seen several stablecoins depegging, and Coinbase, one of the largest exchanges, is in legal trouble. Each and every coin’s value including the GYEN crypto is always at risk of falling.
Unfortunately, for GYEN crypto, things got worse when the price began to plummet as Coinbase Pro disabled trading, deposits, and withdrawals for GYEN. It is said that the platform encountered some technical issues regarding GYEN crypto trading. What’s the recourse?
Follow up the other side on: GMO-Z.com Trust Company (@GMOTrust) / Twitter
Today’s GYEN price is $0.007318 with a 24-hour trading volume of $68,096.17. GYEN is up 0.37% in the last 24 hours. The current CoinMarketCap ranking is #564, with a live market cap of $20,006,217. It has a circulating supply of 2,733,961,999 GYEN coins and the maximum supply is not available.
What is Gyen?
GYEN is a fiat-backed stable coin built on the Ethereum blockchain. The code is open-source on Github. The price of Gyen digital assets is pegged to the value of the Japanese Yen (JPY).
GYEN is backed by JPY on a 1:1 ratio. The collateral JPY is held at FDIC-insured bank accounts. Audits on bank reserves are made monthly. GMO-Z.com, the company behind Gyen and ZUSD, is regulated by the New York State Department of financial services. It is the first company to offer a JPY-backed stable coin.
According to Coinmarketcap, GYEN has a market capitalization of $20,148,169. GYEN has a total supply of 5,396,921,683 with a circulating supply of 2.7B. It currently trades at $0.007369.
You can purchase GYEN at Liquid, Coinbase, and Uniswap crypto exchanges.
Users can also mint the new GYEN. This can be accomplished by linking your funding account to the GMO Trust account. New stable coins are minted once funds arrive on the Etana Custody Account.
Gyen can be staked on Celcius and Nexus. These platforms offer competitive staking rewards. Celsius however has had trouble over the last one week following liquidity troubles.
Nexus Vaults currently offers a 7% annual yield on GYEN deposits. The rates are however dynamic and vary according to market demand.
On June 2 2022 GMO-z announced a partnership with INX limited. INX runs a regulated cryptocurrency exchange. INX will bring GYEN and ZUSD stable coins to retail and institutional investors.
So what is the utility of the ZUSD stable coin?
- Store of value in volatile crypto markets.
- Higher interest on deposits than retail banks.
- Fast, permissionless, and trustless payments.
- Provision of liquidity to JPY retail and institutional investors.
How to Mine GYEN
To mine GYEN, computers spread around the world compete to solve cryptographic puzzles at the cost of processing power and therefore energy. Any miner who manages to solve the puzzle first is rewarded with GYEN (GYEN). These rewards compensate miners for securing the network, verifying transactions, and adding blocks to the blockchain.
In the mining process, the miner is an investor who provides energy, computer space, and time to sort through blocks. He submits his solutions to the issuers when the mining process finds the right hash. Miners receive rewards that are portions of the transactions for their participation in the mining process.
Cryptocurrency miners are responsible for increasing the circulation of a particular cryptocurrency in the market. Each cryptocurrency has an upper limit on the number of coins that can be mined. Thus, when the rewards are reduced, the influx of new cryptocurrencies also decreases.
- GPU Mining (Graphics Card)
GPU mining involves using the graphics processing unit of a gaming computer to solve complex mathematical problems to verify electronic transactions in GYEN. The cards adopted for crypto mining are those specifically designed for gaming, not video renderings, such as NVIDIA and AMD.
- Cloud Mining
Cloud mining is the easiest and most effective way to make money from cryptocurrency mining without having to buy and maintain your equipment. It is done by renting the equipment facilities of the company. These companies, which are simply digital mining farms – data centers dedicated to mining that sell or rent machines to cryptocurrency miners’ data – are most proficient at mining GYEN (GYEN).
GYEN Technical Analysis
GYEN has been downward for the better part of this year. The 14-day relative strength index shows that GYEN’s value moved into oversold territory in over three instances. The MACD histogram shows that GYEN has low price momentum on the downside. The William Alligator trendlines suggest a continued price fall short term.
GYEN Price Predictions by Authority Sites
Wallet Investor uses a machine learning prediction system and artificial intelligence (AI) to give the GYEN price forecast. GYEN historical data performance scores ‘E’. The AI indicates that GYEN is a bad one-year investment. Its average forecast price will rise from the current price to $0.00564 in one year. For the next two weeks, GYEN will be on a bear trend. The price will fall from $0.00731 to a future price of $0.0071 at the end of the period. The average forecast price will fall by -22.682% in 2023. GYEN return on investment (ROI) will be -53.898% in 2024. In 2025, GYEN price ROI will be -81.297%. In 2026, GYEN price ROI will be -96.406%. In 2027, GYEN price ROI will be -98.4029%. The declining tendency might result in a crash.
Swap Space analyzes Gyen price prediction from various influencers to give their forecast data estimates. GYEN’s prices are expected to reach $1 by the end of the year. GYEN value in the crypto market will go up 33% in 2023. The steady rise will continue into 2024, with an ROI of 63%. GYEN value ROI in 2025 will be 103%. GYEN value ROI in 2030 will be 875% 2030. Swapspace admits that there is no consensus on GYEN price predictions. Traders who invest in GYEN should conduct enough research.
GYEN has been on a gradual fall since March 2022. GYEN price forecast for July is $0.0097, an upward trend from the current price. It will then trade for over $0.01 for the rest of the year. Gyen average price in 2023 will be $0.015. It will reach a minimum price of $0.00970 and a maximum price of $0.0114. GYEN average price in 2025 will be $0.0141. It will reach a minimum price of $0.0125 and a maximum price of $0.0158. GYEN average price in 2030 will be $0.0331. It will reach a minimum price of $0.0322 and a maximum price of $0.034.
GYEN reached its highest price on Nov 18, 2021 when it was trading at its all-time high of $ 0.017516. The lowest price since it’s ATH was $ 0.007233 (cycle low). The highest GYEN price since the last cycle low was $ 0.007418 (cycle high). GYEN’s current circulating supply is 2.73B GYEN out of max supply of 2.73B GYEN. In terms of market cap, GYEN is currently ranked #27 in the Stablecoins sector and ranked #224 in the Ethereum (ERC20) Tokens sector. GYEN price in US Dollar has decreased by -6.21% in the last 1 month. GYEN is up 76.27% against Ethereum and up 38.12% against Bitcoin in the last 1 month.
GYEN Price Prediction 2022
GYEN price prediction for 2022 is $0.01. GYEN average price is expected to rise higher in the second half of 2022. It will trade at a maximum average forecast price of $0.011 and a minimum forecast price of $0.01.
GYEN Price Prediction 2023
GYEN price prediction for 2023 is $0.15. Gyen price of Gyen will rise 50% in 2023. This will be enabled by increasing adoption. GYEN will reach a minimum price value of $0.015 and a maximum price value of $0.017.
GYEN Price Prediction 2024
GYEN price prediction for 2024 is $0.022. Gyen price is expected to cross $0.02 in 2024. Its market cap in the crypto market will continue rising. GYEN is predicted to reach a maximum price level of $0.025 and a minimum price of $0.022.
GYEN Price Prediction 2025
GYEN price prediction for 2025 is $0.032. Crypto markets are expected to be regulated in the future. Crypto adoption is expected to rise in the crypto space. GYEN average trading price will reach a maximum value of $0.037 and a minimum value of $0.031.
GYEN Price Prediction 2026
GYEN price prediction for 2026 is $0.046. GYEN coin market cap will rise as more institutional investors show value. Gyen coin is expected to bring in liquidity from Asian markets. GYEN average trading price will reach a maximum value of $0.053 and a minimum value of $0.045.
GYEN Price Prediction 2027
GYEN price prediction for 2027 is $0.068. Gyen’s future is bright. As we transition into web 3.0, more industries will adopt blockchain. Cryptocurrencies will enable fast and verifiable payments. GYEN’s price is expected to reach a maximum price level of $0.076 and a minimum price level of $0.066 within the given period.
GYEN Price Prediction 2028
GYEN coin price prediction for 2028 is $0.099. GYEN’s value will cross $0.1 in the cryptocurrency market in 2028. GYEN will pass its previous all-time high. GYEN is expected to hit its highest price at $0.12 and lowest price at $0.096.
GYEN Coin Price Prediction 2029
GYEN coin price prediction for 2029 is $0.15. Gyen assets will be a good investment. Staking on cryptocurrency exchanges will give users investing in GYEN a steady income. GYEN’s prices are predicted to reach a maximum price of $0.17 and a minimum price of $0.15 throughout the period.
GYEN Price Prediction 2030
GYEN price prediction for 2030 is $0.21. By 2030 GYEN’s price will have more than doubled its market cap. GYEN’s future is bright, given the market does not crash. Investing in crypto is high risk. GYEN prices will trade between a maximum price of $0.25 and a minimum price of $0.20
GYEN Price Prediction 2031
GYEN price prediction for 2031 is $0.32. Crypto users are expected to rise exponentially by 2031. Various countries will likely issue digital assets that will trade in the crypto market. GYEN is a good investment. GYEN’s prices are predicted to reach a maximum price of $0.36 and a minimum price of $0.31.
GYEN Price Predictions by Industry Influencers
Mind your Crypto Youtube channel goes through GYEN price predictions. He comments that GYEN has a low market cap and potential to grow.
GYEN price predictions from various industry players are contradictory. GYEN price should, however, go up in the long term. Negative news or market crashes could, however, derail the upward trend.
GYEN value will trade higher in the second half of 2022. From 2023, GYEN will trade in bullish market cycles. GYEN is expected to trade at an average of $ 0.21 in 2030 and $0.32 in 2031.
As for Coinbase, it could face a class-action lawsuit over unstable stablecoins. There’s been an outrage from investors and financial regulators are taking action.
Cryptocurrencies are highly volatile. Traders should exercise extreme caution when investing in GYEN.