Should I Convert My ETH to XNO in 2022?
Is It Profitable to Convert ETH to XNO Now?
The cryptocurrency ecosystem is a versatile environment. It includes a variety of coins and tokens covering multiple use cases. However, with more than 20,000 tokens available, it can be challenging to pick the best one for each set of circumstances.
That said, the prices of top coins heavily correlate and rarely offer huge profit opportunities. Low market cap coins like XNO can provide a much higher opportunity due to their high volatility in certain market conditions. In this article, we examine whether exchanging ETH for XNO can be a profitable venture.
Ethereum almost needs no introduction. Released in 2015 and co-founded by Vitalik Buterin, this platform pioneered the concept of smart contracts. By automating blockchain transaction execution, it allowed distributed networks to act as decentralized supercomputers. Decentralized applications allowed blockchain to increase its use cases exponentially. It also gave birth to multiple innovative concepts. Among them, there is decentralized finance (DeFi), NFTs, and play-to-earn blockchain games.
The ETH cryptocurrency is the native token of the platform. It is used to pay the gas fees when interacting with smart contracts or sending value over the network. Since its launch, crypto investors rushed to convert BTC to ETH to access this smart contract capability, which quickly increased Ethereum’s price due to high demand.
Currently, Ethereum runs on a proof of work consensus, requiring miners to confirm transactions. However, this wasteful mechanism will be phased out in September 2022 and replaced with a more sustainable and scalable proof of stake engine.
What Do We Know About Nano?
Nano is a payment-focused crypto project that relies on the concept of zero fees. Sending value over the Nano network is cost-free, which makes it incredibly inclusive for everyone stepping into the cryptocurrency ecosystem.
Moreover, transactions on the network are almost instantaneous, which allows merchants to accept XNO as a form of payment and microtransactions. As a result, Nano and its XNO cryptocurrency have come out as the perfect, scalable solution to integrating cryptocurrencies in our daily lives.
Unlike most cryptocurrencies that either use PoW or PoS for transaction validation, Nano utilizes Open Representative Voting (ORV). In this environment, users vote for their preferred representatives, which are then tasked with confirming transactions on the network.
What’s more, Nano doesn’t use a decentralized ledger for its blockchain technology. Instead, it relies on a much more scalable directed acyclic graph (DAG) concept.
ETH and XNO Market Position 2022
With those fundamentals out of the way, let’s take a look at the ETH and XNO price action and forecasts for the future.
Ethereum Profit Review
Like most cryptocurrencies, Ethereum has been experiencing a harsh bear market that has initiated strong selling pressure. Despite this market downturn, experts retain a bullish vision for the ETH price in the upcoming months and years. Currently, ETH is trading at around $1,400.
Digitalcoincoinprice.com, for instance, expects ETH to return above the $2,000 mark during 2022. For 2025, they predict that the token will reach a maximum price of $3,132. For the longer term, their 2030 price forecast targets a new all-time high of $6,856.
Pricepreditcion.net has an even more optimistic view on the ETH crypto. For 2025, they expect the price to go as high as $8,984. For 2030, the website provides an incredible price prediction of $57,877.
XNO Profit Review
The XNO coin hasn’t received as much attention from investors as ETH, but experts still think that its value should grow. Currently, XNO is trading at around $0.9.
Digitalcoincoinprice.com provides a target of $2.02 for 2025, whereas they expect it to reach $4.36 by 2030.
Pricepreditcion.net hopes for more substantial growth, with a target of $5.04 for 2025 and a maximum price of $31.40 per XNO by 2030.
Is Now the Time to Exchange ETH for XNO?
All things considered, Ethereum is still showing a lot more upside potential than XNO in the following years. However, considering its past heights and XNO’s current low price, it could provide some great profit opportunities. You can use an anonymous cryptocurrency exchange that offers fast and cheap transactions to maximize your profit margin.
For the longer term, ETH is an overall more versatile crypto, and the switch to PoS should make it even more scalable. However, as the adoption of cryptocurrency payments increases, Nano could also find a place in the top 50 cryptos by market capitalization.