Firo Coin Price Prediction

Bitcoin has a lot of advantages. The cryptocurrency allows you to send millions of dollars for a penny, is available for work seven days a week and is not subject to blocking by governments. However, there is one disadvantage: transaction data is stored in the public domain. This means that anonymity is not real here, and it can easily be violated by global corporations and other interested parties. The problem is solved by Firo — the first full-fledged implementation of the Zerocoin protocol. Understanding what kind of currency it is, what its advantages are, as well as the demand for technology will help to more accurately outline the prospects for the growth of the token in the future.

On July 30, 2019, Zcoin officially abandoned the Zerocoin protocol, adopting a new protocol called “Sigma”, which does not allow fake privacy coins to increase the number of coins. This is achieved by removing a function called “trusted installation” from the zerocoin protocol.

Until 2020, the Firo token was under a different name – Zcoin. The name change occurred because at the end of 2020, Zcoin fell from 40th place to 250 in the general rating due to the close attention of different states to anonymous cryptocurrencies. After that, the team rebranded. And now the coin is called Firo.

Let’s look at what Firo is, as well as the opinion of leading experts, investors and analytical centers about what token prices we can expect in the future 1,2,3,4 and 5 years. We will look at the main Firo predictions. 

What is Firo?

The decentralized digital cryptocurrency Firo, the exchange rate of which is currently $4.93. The team gives priority to anonymity. The Oa has been in existence since 2016, the leader is Poramin Insom.

Firo (Zcoin) is based on the Zerocoin protocol, created by Matthew Green, a professor at Johns Hopkins University. Initially, this protocol was created for Bitcoin. He had to expand its functions to enable anonymous transactions. However, it was not possible to implement the planned project. As a result, a new currency, Firo, appeared on the market.

Firo uses zero-knowledge cryptographic technology. It can be mined using a home computer or by joining a mining pool. The time of the Firo block is five minutes, and the reward for the block is 12.5 coins.

It uses a halving system similar to the Bitcoin system, with the block reward halving every four years. Firo is integrated with RenVM to provide a reliable bridge between itself and Ethereum (ETH), allowing users to seamlessly enter and exit the decentralized finance ecosystem (DeFi) without KYC. 

Firo Price Analysis

The coin entered the market in 2016 with a value of $0.6. In less than a month, the cost has risen above $4. Then, with some correction, the coin began to grow. The price peaked in January 2018 – and reached almost $140. This was due to the overall growth of the market and attracting huge attention to the crypto industry, but the market turned out to be pumped, as a result of which there was a severe correction.

By the end of 2018, the price returned to the level of $4 – $5 per token. And for several years, the exchange rate was almost stable within the range of $3 – $12. The growth to $13 occurred once again in April 2021, and then there was a decline along with the general market trend.

It is important to note that there have not been many sharp ups and downs in the price of Firo over the years. This is a fairly stable coin, which, of course, reacts to general market trends, but is not subject to huge fluctuations all the time.

What experts and analysts think about the future of prices, as well as what they put forward for Firo coin predictions, we will consider below.

Firo Popularity Analysis

The popularity of the coin has fluctuated since its release for various reasons: external and internal. But the events of October were a big blow, when at first the coin fell by more than 200 points in the rating, and then changed its name. Since the rebranding, due to insufficient support by miners, the network has experienced 51% attacks from time to time. In particular, in February, the Firo network had to be temporarily disabled due to suspicious transactions.

However, on April 1, 2021, Firo announced integration with the Binance Smart Chain DeFi ecosystem with the introduction of FIRO’s BEP-20 and its support in Binance Bridge, which provides access to inter-network liquidity. Perhaps this played a role in increasing the popularity of FIRO and connecting more miners to its main network.

Despite the fact that the Firo rate was affected by the strongest bearish trend, the cryptocurrency still deserves the attention of investors. The developers continue to work on the project, XZC itself is quite liquid, and the mining of this cryptocurrency is one of the most profitable in the mining industry.

Firo Coin Value

The price of Firo for today is $4.93. In recent days, the coin has shown a small jump in price, for the last day by 3.7%. The daily trading volume is $ 6,364,997. The market capitalization is $ 59,557,571.

There are now a little more than 12 million Firo coins in circulation – this is about 56%. Now the coin has fallen by 361 places in the overall rank, but analysts believe that the coin deserves a much larger place and the situation will improve soon. Back in 2020, the coin was in the top 40 in the overall rating. 

Firo advantages and disadvantages

As we have already written, the main principle of Firo is anonymity. This is the main advantage of the coin, since it was literally created to solve Bitcoin’s problems with anonymity. With each update of the protocol, XZC transactions become more anonymous. The cryptocurrency algorithm uses zero-knowledge proofs to preserve the confidentiality of the blockchain.

It is also important to note that Firo strives to increase personal freedom. By guaranteeing financial confidentiality, Firo can help ensure freedom of trade. People should be able to make transactions the way they want, provided that it does not infringe on the well-being or personal freedom of others. By guaranteeing financial confidentiality, Firo can directly guarantee interchangeability, which is an important property for free trade.

Firo also uses the MTP algorithm, which is aimed at democratic mining without compromising fast verification.

The main disadvantages are:

• the low popularity of the coin today due to unfavorable events for it in late 2020 – early 2021,
• An analysis of the principle of operation of the system and its declared advantages shows another drawback. Through a timing attack, you can still calculate the transaction by setting up surveillance of the potential recipient and sender.

However, the team is constantly trying to develop and improve the project. And this is reflected in Firo coin predictions.

Firo Price Predictions For 2021

Crypto Ground believes that in 2021 the price of one XZC will grow to almost $ 7. The forecast of Wallet Investor looks a little more optimistic – they note the possibility of growth above $ 11. Digital Coin Price predicts an average cost of $ 9.41. Taking into account the latest indicators of the coin, which show some growth recently, we can note a high probability of this Firo prediction. 

Firo Price Predictions For 2022

Let’s take a look directly at the numbers of Firo predictions:

Crypto Ground: $ 53.5

Wallet Investor: $ 17.5 

Digital Coin Price: $ 10.9 

Firo Price Predictions For 2023

Crypto Ground: $ 70.4

Wallet Investor: $ 18 – $ 22.7

Digital Coin Price: $ 12.74

Firo Price Predictions For 2024

Crypto Ground: $ 90.3

Wallet Investor: $ 28.8

Digital Coin Price: $ 15

Firo Price Predictions For 2025

Crypto Ground: $ 112.9

Wallet Investor: $ 34

Digital Coin Price: $ 15.9

As you can see, the analyst believes in the potential of the coin and confidently predicts its growth, although everyone has different data on the speed and level of price increase.

We recommend that you study the technology in more detail, and also consider the coin for investment because now is one of the best times to buy it if in the near future an analyst and large investors expect its rise, which has already been noticed in recent days. Note that all the major Firo coin predictions are very optimistic. 

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.