Sylo Crypto: A Smart Investment Decision?

Sylo is a decentralised communication and data exchange network that allows users to communicate and share data without a centralised party. The $SYLO token is used as a payment source in this ecosystem and to reward nodes for running the network. The Sylo Protocol facilitates safe and standardised connectivity between users and connected applications on the Sylo network. The current live price of Sylo is $0.000884 USD, with a 24-hour trading volume of $1,368,981 USD. In this article, we will explore whether Sylo crypto is a good investment.

Sylo's performance against other cryptos

Sylo's price history has been volatile. After an initial surge following its listing on CoinMarketCap in June 2020, it dropped below its launch price for the rest of the year and reached its all-time low in January 2021. SYLO saw a rally in March 2021 due to a partnership with Tezos Baking and its integration with the FLUF NFTs in August 2021, but it has also been vulnerable to volatility and consistent bearish trends. After the crypto crash in 2022, it reached a low of $0.0022. However, its listing on Coinbase helped it climb to $0.0066 in July 2024. As of 19 September 2024, Sylo is trading at $0.000884, with a 24-hour trading volume of $1,368,981. Its current market cap is $2,148,703, and it is ranked #1529 on CoinMarketCap.

Looking at price predictions, there is a bullish consensus, with most sites forecasting a new all-time high. DigitalCoinPrice predicts a gradual price rise, with SYLO reaching $0.0034 in 2024, $0.0086 in 2025, and $0.018 on average by 2030. PricePrediction's short-term forecast is less ambitious, with an expected price of $0.007 by 2025, but it also predicts a climb to $0.047 by the next decade. AMB Crypto's prediction for 2023 is $0.017, passing $0.07 in 2029 and $0.10 in 2032. TechNewsLeader forecasts a climb to $0.03 in 2028, with a maximum price of $0.095 in 2031.

The value of the SYLO token

Sylo is a decentralised network that allows users to communicate and share data without any centralised party. This is made possible through its SYLO token, which rewards independent parties for running the network. The token was launched in 2017 and is currently ranked 1529 on CoinMarketCap, with a live market cap of $2,148,703 USD.

The token's price history has been volatile, with an initial surge to $0.007 in June 2020, followed by a drop below its launch price for the rest of the year and a further decline to its all-time low of $0.0007 in January 2021. SYLO then saw a rally in March 2021 due to a partnership with Tezos Baking, which led to the launch of a decentralised finance (DeFi) product. This momentum continued, and the token reached its all-time high of $0.014 in May 2021 after an update to its wallet allowed users to purchase cryptocurrencies.

However, SYLO experienced a consistent bearish trend in 2022, and after the crypto crash, it fell to a low of $0.0022 in June 2023. The token's luck changed after it was listed on Coinbase, and it climbed to a high of $0.0066 in July 2023. As of 6 November 2023, SYLO closed at $0.002 and reached a high of $0.004 the next day, with a trading volume of $8.4 million.

At the time of writing, various sources provide different sylo price predictions. DigitalCoinPrice predicts a gradual price rise, with the token reaching $0.0034 in 2024, $0.0086 in 2025, and $0.018 by 2030. PricePrediction's short-term forecast is less ambitious, with an expected price of $0.007 by 2025, but a longer-term prediction of $0.047 by 2034. AMB Crypto's prediction for 2023 is $0.017, and they expect the token to pass $0.07 in 2029 and $0.10 in 2032. TechNewsLeader forecasts a similar trajectory, with a predicted price of $0.03 in 2028 and a maximum of $0.095 in 2031.

It is important to note that the cryptocurrency market is extremely volatile, and it is challenging to accurately predict a coin's price in the short or long term. When considering investing in SYLO or any other cryptocurrency, it is crucial to conduct thorough research and carefully assess your risk tolerance and investment goals.

How to buy SYLO

To buy SYLO, you'll need to use a centralised crypto exchange. Here's a step-by-step guide on how to buy it:

Step 1: Choose an Exchange

The most popular exchange to buy and trade Sylo is KuCoin, where the most active trading pair is SYLO/USDT. Other popular options include MEXC and HTX. Compare the features and fees of each exchange before choosing one to ensure it meets your needs.

Step 2: Create an Account

Once you've chosen an exchange, create an account by providing your email address and creating a password. Some exchanges may also require you to enable two-factor authentication for added security.

Step 3: Deposit Funds

After creating your account, you'll need to deposit funds into it. You can typically do this by linking a bank account or using a credit or debit card. The time it takes for the funds to appear in your account will vary depending on the exchange and your payment method.

Step 4: Place a Buy Order

Once your funds are available, you can place a buy order for SYLO. You can either place a market order, which will purchase SYLO at the current market price, or a limit order, which will only purchase SYLO at a specific price you set.

Step 5: Store Your SYLO Securely

After purchasing SYLO, it's important to store your tokens securely. You can store them in a crypto wallet, such as the Sylo Smart Wallet, or keep them in your exchange account if it offers a wallet feature.

Remember to always do your own research and carefully consider the risks before investing in any cryptocurrency.

SYLO's market cap

Sylo is a decentralised communication and data exchange network. It is powered by a layer 2 micropayments infrastructure and the SYLO token. The current circulating supply of Sylo is 2,431,617,492 SYLO coins, with a maximum supply of 10,000,000,000 SYLO coins.

The live price of Sylo today is $0.000884 USD, with a 24-hour trading volume of $1,368,981 USD. The current market cap of Sylo is $2,148,703 USD. The market cap is calculated by multiplying the number of coins by the current price. Sylo is ranked #1529 by market capitalisation on CoinMarketCap.

The price of Sylo has been volatile. After being listed on CoinMarketCap on 5 June 2020 at $0.004, the token saw an initial surge to $0.007 that month, before dropping below its launch price for the rest of the year and reaching its all-time low of $0.0007 on 31 January 2021. Sylo then saw a rally in March when it partnered with Tezos Baking to launch an earn feature on its wallet app. This was the network's first decentralised finance (DeFi) product. The cryptocurrency climbed to a high of $0.006 at the end of March and continued this momentum into the following months. Its token was listed on the Bittrex exchange on 29 April, with its price passing $0.008. Sylo then surged to its all-time high of $0.014 on 11 May after a new update to its wallet was released that allowed users to purchase cryptocurrencies.

Sylo's next active period came in August after the FLUF NFTs were integrated into its platform. The token climbed above $0.008 again in early September, as the total value locked (TVL) into the SYLO liquidity mining program passed $2m. However, over the following months, SYLO was vulnerable to volatility, fluctuating between highs of $0.007 and lows of $0.003. This eventually turned into a consistent bearish trend in 2022. After the crypto crash, it stooped to a low of $0.0022 on 2 June.

Sylo's fortunes changed after it was listed on Coinbase, reaching a high of $0.0066 on 21 July. However, it lost this momentum and closed July at $0.004. Sylo has started gaining traction again recently, reaching a high of $0.004 on 7 November, with a trading volume of $8.4m.

As of 8 November 2022, there was a bullish consensus for the SYLO token price prediction, with most prediction sites forecasting a new all-time high. DigitalCoinPrice predicted that the token could reach $0.0034 in 2024, $0.0086 in 2025, and $0.018 by 2030. PricePrediction’s short-term forecast was less ambitious, expecting SYLO to reach $0.007 by 2025 and $0.047 by 2030. AMB Crypto’s prediction for 2023 was $0.017, with the token forecast to pass $0.07 in 2029 and $0.10 in 2032. TechNewsLeader predicted that the token could climb from $0.003 in 2024 to $0.03 in 2028, with a maximum price of $0.095 in 2031.

It is important to note that cryptocurrency markets are extremely volatile, and it is difficult to accurately predict a coin's price in the short term, let alone provide long-term estimates. When considering investing in cryptocurrency tokens, it is recommended to always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns, and never invest more money than you can afford to lose.

The future of SYLO

Sylo is a decentralised communication and data exchange network that runs on a layer-2 micropayments infrastructure and the $SYLO token. The SYLO token is used as a payment source in this ecosystem and to reward nodes for powering the network.

2025 and Beyond

According to price predictions, SYLO is anticipated to reach a maximum price of $0.0064 by 2025. This would be a gradual price rise, with the token reaching $0.0034 by the end of 2024, $0.0086 in 2025, and $0.018 by 2030. There is also the potential for SYLO to experience a significant surge, reaching as high as $0.0393 by the end of 2030.

2040 and 2050 Outlook

Looking further ahead, the price of 1 SYLO token is expected to reach as high as $2.41 USD by 2040. The long-term analysis suggests that the Sylo price could even surge to $3.25 by 2050.

Current Performance and Market Position

As of September 2024, SYLO is ranked #1962 on CoinGecko, with a 24-hour trading volume of $1,143,613.77. The current price of SYLO is $0.0009221, with a market cap of $60.3585. SYLO's price has increased by 6.20% in the last 7 days, outperforming similar Polygon Ecosystem cryptocurrencies.

Factors Affecting SYLO's Future

The success of SYLO relies heavily on user adoption and the addition of connected applications to the platform. The decentralised nature of the network, allowing communication and data sharing without any centralised party, is a key advantage. SYLO's confidential communication and decentralised data storage are likely to entice new users concerned about data protection.

However, SYLO may face challenges in achieving widespread user adoption due to the established competition from messaging apps like Facebook Messenger, Whatsapp, and Groupme, which can be linked to social media accounts. Therefore, the ability to attract users and connected applications will be crucial for SYLO's future growth and success.

Frequently asked questions