A “reflection token” is a cryptocurrency whose holders are rewarded out of the fees levied on transactions, receiving a percentage of the fees charged to them. Like the popular crypto SafeMoon, EverGrow is a deflationary “reflection token” where holders of EGC earn an 8% reward from every buy, transfer or sell transaction.
The crypto, launched in late 2021, claims on its website to be the first token to “self-generate” its own rewards for investors. Unlike coins such as bitcoin, EverGrow’s intended function is not as a means of exchange, according to the website, but instead as an ecosystem which generates income for all participants simply by them holding the EGC token.
According to the EverGrow whitepaper: “EverGrow Coin is proud to be the world's first Yield Generation token to reward its holders in $BUSD. It is establishing a new standard in DeFi Tokenomics with its innovative and game-changing token distribution strategy. EverGrow is intended to be held longer term to generate passive income and capital growth. Due to the stablecoin rewards being paid on all transactions, investors benefit during both bull and bear markets.”
Branding itself “the next evolution of reflection token,” the token has lost 30% in the 30 days leading up to 6 May 2022, according to CoinGecko.
How does this affect an EverGrow price prediction? Please read on.
What is EverGrow (EGC)?
The project possesses a variety of features which supposedly differentiate it from competitors.
As a deflationary token, a number of processes are in place to reduce the supply over time. According to the project’s website, this means that “individual holdings will become more valuable and receive a higher proportion of rewards”.
Through ‘BuyBack & Burn,’ 2% of the native token EGC is collected upon each transaction being processed. This portion is converted to BNB, which are subsequently stored in the smart contract.
Upon BuyBack & Burn being enabled, “the contract purchases $EGC directly from exchanges, driving the price up, and immediately and permanently removes those purchased tokens from circulating supply by sending them to the contract ‘Burn’ address,” according to the website, meaning “less circulating supply, so a higher share of rewards paid to holders”.
The objective of the crypto is to develop utilities and platforms which will earn revenue over time. This revenue will allegedly go to BuyBack & Burn, further driving up the value of the tokens.
On every transaction, there is a 14% tax. Of this, 8% is distributed as rewards, 2% to BuyBack & Burn, 3% is transferred to the liquidity pool and 1% is sent to the marketing wallet.
WIth an ambitious roadmap, including launching an NFT lending platform in the second quarter of 2022 and launching an exchange in the third quarter of 2022, the project seems like an impressive one.
Coin performance of EverGrow
The token has experienced extreme volatility since it launched. According to CoinMarketCap, the coin rose immediately after launch, surging from lows of $0.00000005841 on 8 October 2021 to an all-time high price of $0.000003379 on 1 November 2021.
The token dropped immediately afterwards, however, plummeting to lows of $0.000001177 on 2 November 2021. It rose subsequently, hitting $0.000002757 on 5 November 2021. By 9 November, the EGC token dropped to $0.00000139 before recovering to $0.000001882 by 15 November 2021.
The token slid by 29 November 2021 to lows of $0.0000005496 and traded sideways till the beginning of 2022.
The token rose to a high of $0.000002348 by 4 January 2022, but significant volatility persisted as the EGC token fell to a low of $0.000001033 by 10 January 2022. It spiked again the following day, before dropping. EverGrow subsequently hit a downward trend, dropping to lows of $0.0000004423 by 31 March 2022.
As of 8 April 2022, the token had dropped even lower, to $0.0000003951. Despite significant volatility, the token then made solid gains, and by 23 April, EGC had risen to $0.0000005475, while by 25 April it had surged to $0.000000614.
The coin has since dropped quite considerably in price, however, and is standing at $0.000000303123 as of 6 May 2022.
EverGrow has a maximum supply of one quadrillion tokens and a current circulating supply of almost 493 trillion. The protocol has a market cap of $183,237,848.67.
EverGrow price prediction: What price will EverGrow reach?
While price forecasts are important when it comes to attempting to work out whether a crypto is a good proposition, it is critical to keep in mind that such predictions, especially longer-term ones, can often turn out to be wrong. With this in mind, let’s look at some EverGrow price predictions.
Gov.capital, in a very pessimistic forecast, thinks EverGrow could go to zero in a year’s time.
DigitalCoinPrice, in a slightly less bearish outlook, thinks the EverGrow price prediction for 2022 could average $0.000000465. The platform thinks the EverGrow price prediction for 2023 could be $0.000000525. The website’s EverGrow price prediction for 2025 stands at $0.000000670, while the website’s EverGrow price prediction for 2030 is $0.00000162.
PricePrediction.net thinks the token will average $0.00000069 by 2022, before rising to an average price of $0.00000209 by 2025. The platform’s EverGrow forecast for 2030 stands at $0.00001302.
WalletInvestor, in a bullish forecast, thinks the token could go up to an almost outlandish $0.533 in a year’s time.
How many EverGrow are there?
EverGrow has a maximum supply of one quadrillion tokens and a current circulating supply of 492,750 billion.
Is EverGrow a good investment?
Potentially, though due to its volatility it is a very risky token. While some experts think it could go up, others predict it will fall to zero.
Will EverGrow go up?
Some price prediction forecasters think the token will go up, while others think it will go down. However, always remember that forecasts, especially longer-term ones, can be wrong.
Hope this article can provide you with a better understanding about EverGrow price prediction. What price will EverGrow reach? You must have your own answer now.
