NEO is a blockchain platform for developing decentralized applications (DApps) and smart contracts. Many consider NEO the Chinese equivalent of Ethereum. This platform has adopted a dual-token (NEO and GAS) mechanism. GAS is primarily used to pay transaction fees on the Neo blockchain. This article presents a GAS price prediction for the coming years to help potential investors decide whether this digital asset is profitable.
What Is NeoGas (GAS)?
As mentioned, the NeoGas (GAS) token is of the two native tokens of the NEO blockchain. GAS is a fuel token that developers use to pay when executing smart contracts on the blockchain. It is also used to pay fees for the transfer of tokens. This way, the GAS token implements a resource control system for the NEO network, preventing resource abuse. Besides, GAS can be traded on exchanges, transferred, and stored like any other cryptocurrency.
NeoGas Token Overview
As of June 24, 2023, GAS was the 531st most valuable cryptocurrency by market capitalization, according to CoinMarketCap. The table below summarizes other relevant information for the same date.
NeoGas’ Price History
CoinMarketCap indicates an open GAS price of $1.7 since it started tracking this digital asset in late 2017. The GAS token exhibited much volatility in the last quarter of 2017. However, it was on a bullish trend, ending the year at $30.1. In 2018 the GAS price skyrocketed, reaching its all-time high on January 15, at $97.5. But this token’s price rapidly decreased in the following months, falling to $14.3 on April 6. The GAS price briefly recovered, reaching $32.9 on May 4. It ultimately dropped throughout the remainder of 2018, ending that year at around $2.2.
2019 and 2020 were uneventful for the GAS token. This asset’s price dropped to its all-time low of $0.6 on March 13, 2020. In 2021, the GAS price significantly increased during the first months, reaching $17.7 on April 17. For the remainder of the year, the GAS price roughly varied between $4 and $12. In 2022, the GAS price dropped from $5.7 at the beginning of the year to approximately $1.9 at the end. In 2023, the GAS token regained some value, reaching $5.7 on February 9. But this price hike was short-lived. The GAS price has fluctuated between $2 and $4 in the last months. As of June 24, 2023, GAS traded at around $2.5.
NeoGas (GAS) Price Prediction
NeoGas (GAS) Price Prediction for 2025
In 2025, the GAS price will continue to increase, reaching an average of $6.8 and a maximum of $7.7, according to PricePrediction. For its part, BitcoinWisdom expects GAS to trade at $8.4 on average, with a possible maximum of $9.2. DigitalCoinPrice is slightly more optimistic, indicating an average price of $9.5 and a maximum of $9.6. Your GAS investment at the current $2.5 could increase its value by +284%.
NeoGas (GAS) Price Prediction for 2030
Long-term crypto price predictions usually need to be more accurate. Hence, one can expect significant discrepancies between different sources. That is the case with GAS price predictions for 2030. According to BitcoinWisdom, this token will trade at an average of $21.6, reaching a maximum of $22.4 that year. DigitalCoinPrice expects an average price of $27 and a maximum of $27.7. In contrast, PricePrediction forecasts an average GAS price of $40.9 in 2030, possibly reaching $46.6. If the last prediction is correct, your GAS investment at the current price of $2.5 could grow by +1,764%.
Summary
The NEO blockchain is widely regarded as the Chinese equivalent of Ethereum. However, the performance of this platform’s two tokens, NEO and GAS, has been far from optimal in the last months. But analysts are optimistic about the future of the GAS token. If price predictions are correct, this digital asset could yield good gains as a long-term investment. Bear in mind that investing in this asset could be risky. Hence, you must invest cautiously.
FAQs
Is NeoGas (GAS) a good investment?
It might be. Most GAS price predictions indicate a bullish trend in the long run.
Can the NeoGas token reach $100?
Yes, it can. According to PricePrediction, GAS could reach a maximum price of $103.4 in 2032, setting a new all-time high.
Where can I buy GAS?
Several exchanges list this token for trading. However, the best option to buy GAS without any hassle and at competitive rates is LetsExchange.io.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
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