What is Kin?
Unlike many other cryptocurrencies or digital currencies, Kin has an existing user base of over 100 million from the Kik messaging app. Kin, short for kinship, was created by the popular messaging app Kik. Decades before now, there was a huge communication problem between devices with different operating systems, and only text messages were used to overcome this obstacle. Kik then proffered a solution by creating a messaging app that works on all operating systems and can communicate. The app became widely used by millions; traffic on Kik dropped with the advent of Facebook, Whatsapp, and other social media platforms. At this stage of dwindling traffic and funding money, Kin was born. The Kin token was created through the ETH blockchain to bring people together within the Kik community.
Kin was designed to be earned and spent on goods and services within Kik. For example, Kik launched Kik Point in December 2014, which allows you to earn points for watching video adverts, completing quizzes and polls before introducing Kin token. Notably, while Kik experimented with Kik points, its transaction volume was three times more than BTC.
In September 2017, Kin as a digital currency was launched; it raised around $100million in token sale through its Kin initial coin offering (Kin ICO). Kik got into a fight with the SEC in 2019, a dispute that was later settled in late 2020. The coin benefited from the buzz the lawsuit created. People all over the world had a renewed interest in the coin during this period.
As many applications adopt Kin, the platform also houses third-party services and features, and an example is the Kin wallet. Kin is one of the only three cryptocurrencies to be certified as not a security in the U.S by the SEC. At the time of writing, Kin has a total market cap of $ 781.33 million. This large supply is to allow the mass adoption of its token by users all around the world. The cryptocurrency has seen a significant increase in value within the first quarter of 2021, but what does the future hold for Kin?
Ted Livingston, CEO of KIK and Kin, created the digital currency with the vision of rewarding Kik community users for building a better community. Users get incentivized with Kin tokens when they offer valuable content in the Kin community. It is also essential to know that Kin is designed to be a cryptocurrency to facilitate equal opportunities digitally.
Developers in the Kin world also get rewarded with Kin instead of taking fees from users; they get paid with a system-generated Kin. This is beneficial to both parties as developers get awarded for their contributions, and users keep consuming. Due to the rewards, more developers keep creating more content that drives higher user traffic. A platform where people win by working hand in hand is built on Kin.
On May 22, 2020, the Kik foundation asked the Kin decentralized ecosystem to migrate from the Kin blockchain to the Solana blockchain. This move was due to the growing population of the Kik platform. About 60% of Kin’s total supply was set aside to power the kin rewards engine for several years to come.
The foundation also created the Kin Reward Engine to reward content developers in the Kin ecosystem for adding value to the kin community. The idea is to distribute as much Kin to active users as possible. The reward calculation is done daily, and payouts are sent out to users weekly.
Undistributed Kin is stored in an institutional-grade treasury managed by inflation guidelines, and controls that ensure the safe transfer and the use of funds.
Kin is compatible with several wallets like Kinwallet, Exodus, Citowise, and infinito wallets. It is also listed in exchanges like HitBTC, IDEX, OTCBTC, and COSS.
Kin Price History and Technical Analysis
Supply and demand are the most significant determinants of crypto coin prices. If a particular cryptocurrency has a high supply with low demand from users in the cryptocurrency exchange market, the said crypto value will drop. Over the years, the price of Kin stayed relatively low after its ICO due to its low utility and demand.
Another factor that affects the price of crypto across the years is the media. A positive prediction or negative one can have a significant effect on the price of a coin. The media effect on prices is basically how stories or narratives created by the press influence the price trend in the crypto space. Investors are always attentive to press details before making investment decisions. This factor also goes a long way in affecting not just the current price of Kin but also the future.
One of the various questions asked when it comes to coin prices is the question of Kin reaching $1. It is almost impossible considering the massive volume of the total supply of 10 trillion tokens. It is reasonable to imagine Kin hitting close to 10 cents, but $1 is reaching.
Prices of various cryptocurrencies have been unstable over the years, likewise Kin. A roller-coaster ride would be the perfect description that eclipses Kin’s price over the years. Kin’s worth is currently estimated at $0.0003507 as at the time of writing, there is a slight increase in the value of Kin, but it is miles away from its ATH of $0.001493 achieved in January 2018.
Like other altcoins, the cryptocurrency is tied to the actions of BTC in the crypto market. If BTC goes on another bull run, Kin might as well benefit from it. After each time bitcoins price goes on a bull run and enters a cool-off phase, altcoins take over and sometimes enjoy up to a threefold increase in their price within a few days.
Furthermore, Kin’s blockchain technology has managed to pull off outstanding numbers in recent years by achieving these:
- 95% of transactions are carried out in under 10 seconds.
- Maintaining a blockchain that has 762,900 monthly active spenders.
- Have over 2.6 million unique spenders.
Lastly, over 76 applications integrate Kin into their apps monthly.
Kin needs to generate more interest by creating more awareness through exchanges. For instance, if Binance is willing to pull its weight behind Kin and allow people to invest or exchange through it, we might see a significant increase in the coming years.
The chart below shows people’s interest in Kin based on Google’s web search trend. The chart allows forecasting Kin price change based on people’s search on the web.
Technical analysis based on trend lines
Deducing from the chart above, Kin hasn’t crossed the ATH it set in 2018; the coin has continuously struggled to establish influence in the crypto space. Kin experienced its longest downtrend during 22-07-2020. 2021 looks quite promising; with the coin experiencing a gradual rise in the first quarter, it is predicted it’ll experience a little more increase before the year runs to an end.
Kin Value Statistics as of April 5, 2021, based on Coinranking, are as follows:
The market cap stands at $712.42 million.
The minimum price for the previous 52 weeks stands at $0.000360
The maximum price for the last 52 weeks stands at $0.0004385
24 hour trading volume stands at $13.54 million.
Fully diluted Market Capitalization stands at $4.25 billion.
Market Prediction for Kin Price 2021
Based on Wallet Investor forecast system that updates kin forecast every 3 minutes with latest prices by smart technical and fundamental analysis, it is predicted that investing $100 in Kin can yield up to $150 in at least four years. The coin price is also predicted to keep rising as 2021 goes on. Kin has been bullish in its last 30 days of trade; it is expected to retain this path till the end of the year. Although it is almost impossible to avoid price fluctuation as the year continues, measurable profit would also be made during the calendar year. Wallet investor kin prediction, is an expected maximum price between 0.00035 and 0.0005 in 2021.
Crypto Ground believes in at least five years from now; the cryptocurrency would experience over a 4,894.69% increase in value. In the long term, it would experience continuous rise and stability. Its analysis – using algorithms – says the price of Kin will not decrease or fall in the long term. Crypto Ground systems believe Kin might crash in 2022.
Digital Coin price prediction is also positive on Kin. However, they believe the lowest price of Kin in the future will be around $0.00001103, and the highest could be approximately $0.0000459. Digital coin’s Kin’s price would only increase and not decrease as the years continue. Based on this information, it is quite profitable to invest in Kin. In 2021, the price of Kin is projected to reach $0.0002891 and then reach another height of $0.00003744 after five years in 2025.
Capital coin believes regular kin traders might enjoy completely unpredictable pumps but will most times be stuck at trading in small volume and no significant interest from the market.
Mega crypto believes that Kin cryptocurrency would cross $0.002 by the end of 2023. They also predicted Kin might reach $0.00016 as of 2019; it is well over that price in 2021. Their prediction could be helpful to traders and investors.
Listening to investment advice from the market environment can be advantageous to investors but, at the same time, should be taken with a grain of salt because the market is highly volatile and unpredictable so is the above kin price prediction.
Cryptopolitan’s Verdict on Kin
There are several coins ahead of Kin coin pulling strings in the crypto community; there is very little room for Kin to shine. Several currencies would rise and fall in the very volatile crypto space, but the cryptocurrency stands to benefit from the general rise in the price of other cryptos and gets affected by the drop likewise. In the future, Kin serves as a reliable investment. In your search for cryptos to invest in, personal research is essential before taking action. Would Kin ever moon? Would Kin drop? That’s a hard call, but Kin is undoubtedly a long-term investment with profit.
What is the future of Kin?
Despite a rather sluggish 2019 and 2020, the future of Kin looks bright. Kin would extend beyond the Kik community and become incorporated in more applications than ever as years go by. Its chances are not the strongest, but it would be a force to reckon with soon enough when mentioning future coins.
Is Kin a Good Investment?
A good investment is one in which you get the highest possible return on the money invested. While investing in Kin might not be the best or good investment advice right now, the existing future potential in Kin is attractive. Buying a million worth of kin coin or tokens can prove to be a significant investment in years to come, considering how cheap buying it right now is.
What is the Current Price of Kin?
Kin price is currently $0.0003507 with a 24-hour trading volume of over $9million across 11 cryptocurrency exchanges.
The Kin price prediction is currently bullish. Kin also has a circulating supply of 1.52T Kin.
The price action at each point varies due to the volatile nature of the cryptocurrency market. A rise in the price of ETH would directly affect the price of Kin because Kin is usually traded against ETH in the market. This was one of the major factors responsible for its explosion in 2017.
What will be the price of Kin after five years?
Kin price prediction or forecast over the next 5 years can be gotten by algorithms that work on the historical data of KIN. Kin is expected to reach $0.0147 within 5years from now.
Is it Profitable to Invest in Kin?
Based on the analytical prediction techniques, Kin token might not reach the level of BTC in the future but it sure promises profit for investors. The profit is not as promising as expected so it might be a huge risk for impatient investors.