One thing we all like to do is speculate on the price of your favorite cryptocurrency. Today, we’ll have a look at KIN, the self-claimed ‘money for the digital world’. The controversy around this project is widespread with an open and transparent company behind the KIN token. There have been multiple headlines written about the lawsuit against KIN by the SEC, yet KIN is still standing and has been growing ever since. In terms of price, let’s see where we are at this point and what we can expect in the future.
What is KIN (KIN)?
Kin is a cryptocurrency that’s not that different from all other cryptocurrencies. They do not strive to be particularly different from all currencies out there, all they want is for people to actually use their currency. This is something that’s not as common for a lot of projects out there, where most tokens are simply used for holding and staking. Most ‘utility’ tokens have few actual use cases in reality. KIN, however, came from a project that’s surrounded by the utility.
The project was created by KiK, an application that has been around for many years, once one of the biggest chat apps available. A decade ago, in 2009, chatting was not the thing to do like we are used to these days. There was iMessage, Blackberry PIN and other services that were less commonly used. The barrier was between the various operating systems and only sending ‘real’ text messages was the way to cross that barrier.
To solve this issue, KiK was designed, a simple chat app operable on all systems to communicate with each other. Within months, the applications were used by millions of people. Sadly, this success did not last very long with the introduction of Facebook messenger and services like Telegram and Whatsapp. The number of users is declining by the day, but Kik had an idea to solve these issues.
With their funding money dimming down and a not so bright-looking horizon, KiK decided it was time to go a different route; Create their own cryptocurrency. As part of their service, users were able to spend Kik points back in the day to purchase goods.
Now, the KIN coin is in fact kind of similar, yet every transaction is recorded on the KIN Blockchain. The thing that the team couldn’t foresee, people still did not use the Kik application, so the KIN token was not used that often. To this day, more and more applications are integrating the KIN software to reward their users or as a means of payment. Will it last and will the price climb up again, let’s see for ourselves.
KIN (KIN) Price Prediction 2018
Back in September 2017, the KIN Ico was announced. The goal here was to raise 75 Million dollars to achieve all the plans the company behind KIN, Kik, had thought out. It did not go completely as planned, but 65% of the tokens were sold for a price of 0.00012 USD. That’s a really low price per token, but consider the fact that there were supposed to be 1 Trillion of tokens to be sold. In reality, 650 billion tokens were sold.
With a huge company behind a new cryptocurrency, a company that was even once a unicord, how could this project fail, right? In practice the same thing that happened to tons of other ICO’s during this period, happened to KIN. The token sale was a success, lots of tokens were sold and after a couple of weeks, suddenly the price jumped to about 3 to 4 times the initial coin listing price.
The returns weren’t as big as with other projects, but still any investor could have made some decent profits. Especially with a big company that has been around for years jumping into Crypto, many of the speculators expected the token price to reach new highs months after the spike. No one actually did proper research on what was happening behind closed doors within the company.
Lots of development was done but meanwhile, fewer people were using Kik by the day. The company behind Kik kept losing money and as they mentioned during an interview with the famous Start-Up Podcast, the race to the bottom was set in place. With the rise of the ICO, new funds were generated and luckily for them, most of these funds were collected in either ETH or BTC. These tokens both took a dump in price, but nothing as hard as KIN in 2018. Let’s see what the upcoming year will bring us for KIN’s price.
KIN (KIN) Price Prediction 2020
At this very moment, the returns for the investors in the KIN ICO is pretty dramatic. We’re currently sitting at a 0.06x in USD value, 0.09x in ETH value and a 0.03x in BTC value. Let’s hope that most investors managed to sell their tokens at the right moment or are firm believers as this is pretty devastating. Meanwhile, let’s hope the company managed to transfer their funds into other, more stable, currencies to make their runway last longer. Whether this is true, if the tokens have been transferred is unclear to say. One thing that’s checkable are the tokens that are vested for release by the team, those are still in place and to be released over the upcoming years.
The development of this project has been steadily going forward. A fully functioning blockchain has been set up with some impressive statistics;
95% of transactions performed under 10 seconds
76 Monthly Applications that have integrated KIN
762.900 Monthly active spenders
2.6 million total unique spenders
11.6 total unique earners
The applications that have integrated KIN are ranging from small to bigger applications but overall, they generate a quite big amount of users. Let’s assume that not every single within these applications actually uses the KIN integration, then still nearly 1 million monthly active spenders is pretty impressive.
In terms of price movement, one thing that’s necessary for real volume and more people being aware of KIN, are new exchanges. The coin is currently listed on just a few exchanges with the ‘Cointiger’ being the dominant one.
Whenever the big boys like Binance come around, we might see more people investing in KIN. Whether this is something that’s in the works, that’s hard to tell at this point. With the price at 0.00000771 right now, can we add another zero or are we moving towards the left in the next yet?
KIN (KIN) Price Prediction 2021
The future for KIN does not fully depend on the size of the adoption. As we’ve seen so far, the gap between the people involved in cryptocurrency and the people that are involved in the applications ran on KIN is pretty big. There is way more to overcome than just a simple ‘killer-app’ that will boost the actual use and spending of KIN.
This will spark the interest in KIN and more and more of these tokens will be used to use it as a form of payment, but why would the value increase with that? There are more than enough KIN to keep issuing more and more at this point, with roughly 15% being distributed right now. This means there’s still tons of KIN to be deployed into the market causing even more inflation.
Market Cap: $2,389,918
Circulating supply: 1,263,487,784,228 KIN
Total Supply: 10,000,000,000,000 KIN
When we look at the numbers above, there are two factors that play an important role in the future of KIN from an investors’ perspective. First of all, the total amount of KIN is 1 trillion. Wherewith Bitcoin, you could praise yourself lucky to own 1 entire BTC, but with KIN, owning just 1 KIN is worth less than a cent.
As an investor, you’d have to stack up on multiple millions of KIN in order for yourself to achieve a proper position in this project. To be fair, that’s achievable at this point. One million KIN is only 7 dollars right now, does that mean this is your time to buy? That’s a hard call right now.
One thing that’s in your benefit as a possible investor for KIN, there are two companies to pay attention to, KIN and Kik, the mother company. Once Kik shows signs of weakness, you could say it’s your time to get out and dump your bags. The moment Kik has a big breakthrough, we could just see Kik heading for the sky.
With only 2 Million market cap right now, there’s plenty and plenty of room for growth. Imagine the investors in Kik hopping in KIN, a couple million would spark the price up to and any investment today could just be worth a ton more.
KIN (KIN) Price Prediction 2025
When predicting the price in 2025, which is six years from now, we have to look back six years. Back then in 2014, Facebook started showing its strength on the market. This was the moment Kik started showing signs of weakness and slowly but surely, the market was overruled by Facebook and its native Messenger. Over the six years that have passed since then, new applications like Whatsapp, WeChat, Telegram, and Signal have entered the market all sharing parts of the messaging industry. The upcoming six years are set to look even more different where the true winners are separated from the sore losers. On which end of the coin KIN will end, only time will well. Now, let’s look at some historical data to see how KIN performs in comparison to some other tech-sectors.
- If KIN has the average YoY growth that the Internet went through by amount of users (in its adoption phase 1995 / march 2017 = $0.00003699
- If KIN has the average YoY growth that Facebook went through (in its adoption phase 2004 / 2016) = $0.0010
- If KIN has the average YoY growth that the Mobile Phone went through (in its adoption phase 1993 / 2013) = $0.00003515
Let one thing be clear here; the moment people start saying KIN is bound for 1 dollar per token, you know we’re in a bubble. This will simply not happen. Even with an exploding growth like Facebook had experienced, not even 1 cent per token is reached. Thereby, if you plan on investing, make sure to stack up on a good amount of tokens. Like always, never invest because someone tells you to do so, always do your own research!