Biconomy has been making waves in the crypto market recently, but it seems that many investors are still unsure of exactly what this project actually does and whether it presents a good investment opportunity. In the following Biconomy price prediction for 2025 and 2030, we’ll be taking a closer look at the token and whether it’s a good time to add it to your portfolio.
Let’s face it, some cryptocurrency projects receive more attention than others. Projects in the NFT, gaming and DeFi space seem to attract the most interest, from both investors and the general public. However, many of these projects are increasingly reliant on more utilitarian projects. Projects like Biconomy.
In a nutshell, Biconomy is a next-gen, multichain relayer protocol. It is intended to be a cross-chain scalability solution for web 3.0 and, whilst it may not sound particularly glamorous, this project could solve a problem that very much needs to be addressed if the decentralised vision of web communications and e-commerce is to be realised.
So how valuable is Biconomy to the wider blockchain world and should investors be adding its native token, BICO, to their portfolios at this stage? The purpose of this article is to take a closer look at the project and hear from leading analysts on how they see its price moving over the coming years.
{{coininfo}}
The Challenges Posed By Web 3.0
You may not be fully aware of what exactly Web 3.0 means. It is billed as the next evolution of the internet and the term encompasses a fairly broad spectrum of technologies that are expected to revolutionise the way we do business, shop, communicate and even play video games.
Web 3.0 refers to a decentralised future, with blockchain technology being the lynchpin for just about every digital interaction. The problem is, this requires an extremely complex infrastructure and, as things stand, the blockchain world is a fractured one, with different projects providing different services across the board. This makes the interaction between dApps a highly complex affair.
There are several challenges that need to be overcome before the widespread adoption of blockchain technology can become a reality. Firstly, there’s scalability–the bete noir of the cryptocurrency industry. For Web 3.0 to be truly mainstream then blockchain networks would need to support faster transactions and in much higher volume than the current standard.
Interactions in the blockchain world also currently require a fair degree of knowledge from users, which is a barrier for the general public. It is also true that commercial web browsers, computers, and phones currently do not offer widespread support for dApps, making the tech even less accessible.
Finally, there is the issue of cost. Especially with platforms like Ethereum. Premium rates can make for a difficult environment for emerging technologies.
The problems outlined above are, to some degree, what Biconomy intends to address.
So What Exactly Is The Biconomy?
Biconomy is a Web 3.0 blockchain project that started life in India in 2018. The organisation behind the project was set up by former Binance employee Aniket Jinda, along with former Polygon man, Ahmed Al-Balaghi, and Sachin Tomar, a former Samsung software engineer.
The team has been pretty clear with its mission statement. Biconomy is intended to “simplify the future of transactions, ensuring that decentralisation is truly accessible to all.” A noble aim of course, but one that’s remarkably similar to several other Web 3.0 solutions. So what makes Biconomy special?
The Main Features Of Biconomy
In essence, what Biconomy is is a layer-2 scaling solution that is currently housed on the Ethereum blockchain though, in theory can be applied to any other. The system aims to make transactions easier in the Web 3.0 world and essentially has two major products: Gasless and Hyphen.
Gasless
Gasless is arguably the flagship feature of the Biconomy project and it effectively offers developers the capacity to implement fee bypassing into their dApps. This means passing the GAS fee on to another party. This means, for example, that a subscription service could pay users’ GAS fees, giving them a standardised pricing structure.
Hyphen
The other breakthrough feature of Biconomy is Hyphen. This is a protocol that gives users more options for paying network fees. It utilises smart contracts to effectively allow users to pay using any ERC-20 tokens. The idea being that users won’t have to convert their tokens from one project to another. Any project operating on the Ethereum Virtual Machine can be included in the Hyphen protocol.
These technologies demonstrate Biconomy’s mission to make crypto transactions simpler for the everyday user. Gasless means projects can offer services for a set fee, whilst Hyphen gives users more options when they do pay fees.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The BICO Token
The whole Biconomy ecosystem is powered by its native token, BICO. As the utility token of the project, BICO serves several functions. First and foremost, it is used to settle and verify transactions that take place within the Biconomy system. Those wishing to operate nodes on the network can stake their BICO for a share in the fees. It's also possible to delegate tokens for a share in the returns.
BICO is also the governance token of the Biconomy. This means that users get to vote on any proposed changes to the infrastructure or the general direction of the project. BICO has a total supply cap of 1 billion.
Looking At Biconomy’s Price History
Most major crypto exchanges have Biconomy price data back to December 2021, when the token first became widely available to the public for purchase. Anyone looking at the charts for BICO will notice pretty quickly that this token has not seen the usually trajectory that could be expected from a newly listed token and it has diverged from the wider market at numerous points.
When BICO first hit the market it traded at $14.15, which is a fairly high price for a new token. However, the day after it was first widely listed the altcoin went into a steep decline over the next three weeks, eventually dropping to $3.20. It then saw an unexpected uptick before December was out, with prices suddenly surging to $5.77.
Suffice to say Biconomy had a pretty eventful first month on the markets but it essentially trended downwards for much of the rest of 2021. By the time the new year arrived, BICO was trading at $3.92 and was still in a period of decline. By the end of January, it was at $1.95 and things showed no sign of improving. By March 2022, BICO had sunk as low as $1.16.
Unfortunately for BICO, it started hitting the exchanges around about the same time the wider cryptocurrency market started to crash and, whilst its price has been much more stable than many other tokens, it has yet to see any major upswings. By April 2022 the token was trading at less than $1.50 and another market crash in May took it as low as $0.38.
At the time of writing, BICO is trading at $0.52. Whilst many investors will be wary of a token that hasn’t seen any major success in terms of significant bulls, some realise that this could be a major opportunity. There are very few major projects that haven’t seen significant growth at some point after launching, so it’s possible that BICO is still due its time in the sun.
Biconomy BICO/USD price chart. Source: Coinmarketcap
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Biconomy Price Predictions For 2025
We’ve hinted that Biconomy might have more potential than its price history would suggest. However, let’s be clear here - this is all speculation. When it comes to making Biconomy price predictions for 2025, it's previous data that analysts rely on. Because BICO has been trading less than a year, obviously this data is limited. As such, the following forecasts should be seen as suggestive and not any kind of guarantee of future value.
Starting with DigitalCoinPrice, many analysts seem to be optimistic about BICO’s future. The platform believes that Biconomy will recover slowly but will be trading above $0.80 by the time 2023 arrives. Fast forward to 2025 and DigitalCoinPrice expects BICO to once again be worth more than the dollar, potentially reaching as high as $1.26 by the end of the year, which would be growth of over 140% on today’s price.
Another platform predicting big things ahead for BICO is CoinsKid. According to its technical analysis, the token will recover to a potential high of $0.81 by the end of 2022 and continue to climb across 2023, potentially passing the $1-barrier as 2024 arrives. The platform then expects BICO to reach a potential high of $2.06 during 2025.
Elsewhere, TradingBeasts is surprisingly optimistic about BICO. Its forecast suggests the token could reach as high as $1.24 by the end of 2022, more than doubling in value in the second half of the year. Price growth is then expected to be slow but steady over 2023 and 2024, with Biconomy potentially reaching a trading price of $2.47 by the time 2025 rolls around.
Looking Further Ahead: Biconomy Price Predictions For 2030
We’ve already noted that there is limited price data with which to build Biconomy price predictions. When you also consider the pace at which the cryptocurrency market changes and new technologies reshape the landscape, long-term forecasts are unreliable at best. That being said, they are useful in telling us what analysts currently think about a project’s prospects.
DigitalCoinPrice has continued its Biconomy price prediction beyond 2025 and it believes the token will continue to perform well, growing steadily in value over the next decade. According to its data, BICO will hit around $1.42 over the course of 2027. It will then climb past the $2-mark in 2029 and by the end of 2030 BICO is expected to be worth up to $2.46.
Elsewhere, Priceprediction.net has also ventured a Biconomy price prediction for 2030 - and it is substantially more optimistic than the forecasts we have encountered so far. According to its analysis, BICO could reach an impressive $6.45 by 2028, potentially climbing past $10 a year later. By 2030, we could see Biconomy worth up to $16.13.
As we’ve said, these price predictions are not guaranteed and they do of course diverge quite significantly on what they see in BICO’s future. Nonetheless, it’s encouraging that so many analysts are predicting growth for the Biconomy project.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: Should You Invest In Biconomy?
Now that we've looked at the Biconomy project in more detail and heard from a few leading market analysts, it's time to consider whether or not it’s a good idea to invest in Biconomy. The project certainly has merit-making blockchain transactions simpler would certainly boost adoption of the technology and simplify things for the average user. However, Bitconomy isn’t the only scalability solution out there.
The price predictions for Biconomy that we came across were unanimously positive - which is certainly a good sign. Though as we’ve said, these aren’t guaranteed results by any means and the data which informs these predictions is limited at best. So whilst we have referred to these, they shouldn’t form the basis of an investment strategy.
The reality is that Biconomy is something of an unknown quantity. It was first widely listed just a few weeks before the crypto market crashed - and it hasn’t bounced back since. This means that BICO has yet to really spread its wings and there is the potential things could go either way for the project in the future.
In conclusion, BICO could solve a significant problem for Etherum based dApps and it has a huge amount of potential. However, it should be seen as a higher risk investment, as it has yet to demonstrate its ability to sustain bull markets. Of course, if you do consider investing in BICO, then you’ll need to keep a close eye on web 3.0 developments.
Where To Invest In Cryptocurrency
If you do decide to invest in Biconomy but are new to the crypto market, then you’ll need to have a few things in place first. Firstly, you’ll need to sort yourself a wallet that can store ERC-20 tokens. You’ve got quite a few options here and we cover them in our guide to wallets, which you can find here.
Once you’ve found a suitable wallet, you’ll need a platform that allows you to access the market and actually buy cryptocurrency. There are numerous brokers and exchanges out there, but we recommend eToro for most users as it’s one of the most trusted names in the space and offers users an award-winning trading platform that can be used via your web browser or using a mobile app.
In addition to its powerful trading tools, eToro also has plenty of information available regarding investment and the cryptocurrency market. As such, it is a highly suitable platform for those new to crypto investment.
eToro – The Best Platform To Buy Biconomy
Open an account with eToro, deposit some funds with USD, and finally – buy Biconomy from just $10.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Biconomy Price Predictions 2025, 2030 - FAQ
What is Biconomy?
Biconomy is essentially a layer-2 scaling solution that currently lives on the Ethereum blockchain. In a nutshell, the project aims to simplify transactions for dApps to make them more accessible for the everyday user.
Is Biconomy an Ethereum project?
Biconomy is built on the Ethereum blockchain but it is a cross-platform solution that can link dApps across numerous other chains, including Binance. However, as Ethereum is the biggest host to web 3.0 projects, it has understandably been the focal point for the Biconomy project.
How much will Biconomy be worth in 2025?
Biconomy’s BICO token hit the market just before the cryptocurrency market tanked and it has remained subdued ever since. However, most Biconomy price predictions appear to see growth on the horizon for BICO. No one can say for sure how much the token will be worth in 2025, but we’ve seen predictions that put it between $2.00 and $2.50.
Where can I buy Biconomy?
You’ve got quite a few options when it comes to Biconomy, as the token is fairly widely listed. However, if you’re looking for a reliable and trustworthy broker to invest with, then we’d recommend you give eToro a try.
What is BICO used for?
The BICO token is the utility token of the Biconomy project and it’s essential to the validation protocol and security of the project. It is also the governance token of Biconomy, meaning that holders get to vote on potential changes to the project and its infrastructure.
Read More:
What Is The Next Web 3.0 Cryptocurrency To Explode
What Are The Best NFTs To Buy?
10 Best Penny Cryptocurrency To Buy