Chia Coin Price Prediction - Where Next?
Chia Network, one of the "greenest" blockchains, recently became a partner of the Blockchain Association. It's a move that will, most probably, have a reasonable impact on Chia coin price prediction
“Together, we'll work to educate policymakers on the growth and application of the Chia blockchain and represent the needs of our development community and farmers around the world,” the company said after the industry lobbying group confirmed its plans to add new members.
The move came as a logical sequel to the last week's stablecoin Terra collapse. It will probably make crypto lobbyists even busier. According to Gene Hoffman, president and chief operating officer of Chia Network, the company intends to establish an accommodating structure for the future of DeFi. Therefore, a partnership with the Blockchain Association will enable both parties to develop both legal and institutionalised systems through which crypto technology and blockchain will be adopted more quickly.
By this contract, Chia is obliged to participate with the Blockchain Association in "regulatory analysis and insight". It will also create a platform to amplify the continued growth, development, and application of the Chia blockchain and technologies”. Furthermore, this eco-friendly cryptocurrency keeps representing “the needs of its farmer and developer communities within the industry and to regulatory stakeholders”.
Bullish Chia Coin Price Estimates
This seems to be the essential catalyst for the Chia coin price prediction because even though investments in energy-conscious tokens are rising over the years, the overall crypto market has been, for some time, on a roller coaster ride. However, analysts agree that Chia (XCH) crypto price prediction is the most encouraging, and this partnership can only help.
At the time of writing, XCH was trading at $33.59, according to Coinmarketcap.com. Its market cap stands at $134.9 million and is fully diluted to approximately $841 million, which looks like a promising future for a currency.
The cryptocurrency recently also confirmed a partnership with Stably to launch a new dollar-pegged stablecoin, dubbed USDS, to support its product 'Offers' within the Chia blockchain.
Not long ago, California-based Chia also had a "long and friendly" conversation with the SEC about the company's operations, where it was determined that while the SEC has many concerns regarding crypto projects, most of them do not apply to Chia.
With SEC’s blessing and a growing DeFi operation, Chia has a case for a bullish Chia coin price prediction.
Chia Price Forecast
Chia coin's price prediction shows that despite the bullish perspective on the Chia price forecast for June-July, Chia price could find itself in a temporary fall and hover around $35.
However, later in the year, the coin price could end its descent with strong growth to around $61, at which level the coin should stay by the end of the year.
For 2023, analysis hints that Chia crypto price will go through the tightening coming with a $136 upside potential breakout offering, but afterward jump above $200.
In 2024, Chia Network is predicted to reach approximately $232, while the price of 1 Chia is expected to rocket to $338 in 2025.
Author: Teuta Franjkovic
A sincere writer with a strong will to share knowledge on all things blockchain, crypto, metaverse and DeFi. Starting out as a writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing newspapers and websites within the fintech industry for over 15 years. She holds a double MA in Public Politics and Entrepreneurship.