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XY Oracle (XYO) price analysis after it reached a record high today

By: Invezz

XY Oracle XYO/USD has skyrocketed from $0.046 to $0.081 in less than twenty-four hours, and the current price stands at $0.062. There are already many projects on the XY Oracle network, and with more than 3 million nodes, it has become one of the largest blockchain networks globally.

Collects and validates geospatial data

XY Oracle is a network of devices that anonymously collects and validates geospatial data or data with a geographic component. This data validation is the most important part of this project which solves real-world problems, whether they affect 3 or 3,000,000 people.

It is important to mention that all data that XY Oracle collects and validates needs to be connected to a specific location. XY Oracle works on open source code, and every user’s phone or tablet can become a node of this network.

The technology that drives the XY Oracle network has been created and expanded by the XY Labs team with the purpose of increasing understanding of the massive benefits of a scaleable, incentivized location data protocol.

With more than 3 million nodes, XY Oracle has become one of the largest blockchain networks globally, and according to the team that stands behind this project, it only has room to grow. The team of XY Oracle added:

XY Oracle Network is now more than large enough, strong enough, and active enough to provide incredibly valuable data to large, corporate third parties. We are making progress to ensure that the oracle data the network users provide is being used to its fullest potential.

Many projects already collaborate with XY Oracle, and the most popular ones include Microsoft, Chainlink, Harmony, Rivetz, Hydrogen, Deon Digital, and Mobi.

XYO is the native cryptocurrency of the XY Oracle, which is used to calculate smart contract agreements on the network.

XYO has exploded since the beginning of November 2021, and this cryptocurrency continues to be in the focus of traders. The daily volume of XYO remains high, but the current price appreciation has a less fundamental background.

XYO has reached a new all-time high

XYO has been one of the best performers on the cryptocurrency market this Friday, and the price of this cryptocurrency has reached a new all-time high of $0.081.

Data source: tradingview.com

XYO is currently trading above the $0.050 support level, but it would be a strong sell signal if the price falls below.

The next price target could be at $0.040 or even below; still, if the price jumps again above $0.070, we have the open way to $0.080.

Summary

XY Oracle is a network of devices that anonymously collects and validates geospatial data or data with a geographic component. XYO has been one of the best performers on the cryptocurrency market this Friday, and the price of this cryptocurrency has reached a new all-time high of $0.081.

The post XY Oracle (XYO) price analysis after it reached a record high today appeared first on Invezz.

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