Coin98 seemed to have taken the crypto world by the storm — it appeared almost out of nowhere and became one of the most talked about crypto projects in late summer of 2021. Since then, the interest may have waned a bit — but do Coin98 price predictions reflect that? Read on to find out.
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Coin98 Fundamental Analysis
Coin98, or C98, is a utility and governance token powering Coin98 — an infrastructure solution for various DeFi products with a focus on chain interoperability and user experience. Coin98 was founded in 2020 by Coin98 Labs and went through an IEO on Binance Launchpad in July 2021.
Coin98’s creators see its primary mission as becoming a one-stop-shop for all the DeFi services a user may need. The first of those services to be released is the Coin98 Wallet, a non-custodial crypto wallet with multichain support. At the moment, there are multiple DeFi products in development, for example:
- An exchange service;
- A multichain borrowing and lending aggregator;
- Staking-as-a-Service protocol;
- A yield farming solution.
Coin98 supports more than 20 blockchains, which is more than other similar multichain solutions. This helps uniquely position Coin98 at the center of the DeFi world.
C98 token is a cornerstone of the Coin98 ecosystem. This token exists on three blockchains: Ethereum, Binance Smart Chain, and Solana, and has multiple functions. First of all, C98 serves as a currency to pay transaction fees within the ecosystem. Secondly, this token is used as a reward, both for the active community members and for liquidity providers. Also, C98 holders can vote on proposals, as well as enjoy different tiers of membership bonuses depending on the number of tokens held.
Coin98 Live Price Chart
C98 token went through its launch in late July 2021, but by the fall’s beginning, its price has already been through a rollercoaster. Coin98 has started trading at ~$0.075, but by the second day after the start of the sale, it has already reached ~$3. Just a few days later the coin has almost touched $1, although in the end the price held above this mark.
Since mid-August, C98’s price has been mostly trending up, hitting a high of $6.42 on August 25. In the last days of the month, though, it seems to have entered a correction, with its price going down to ~$5.