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Gyen (CCC:GYEN-USD) is on the move today as news of it joining Coinbase (NASDAQ:COIN) has traders wondering about price predictions for the crypto.
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Coinbase allowed Pro members to start adding the Gyen crypto to their accounts ahead of trading today. Gyen is a stablecoin built on the Ethereum (CCC:ETH-USD) blockchain and backed by the Japanese Yen.
With the extra interest in Gyen today, let’s take a look at some recent price predictions.
Gyen Price Predictions
- “Gyen has been showing a declining tendency so we believe that similar market segments were not very popular in the given period. Future price of the asset is predicted at $0.0082386101792282 (-7.013% ) after a year according to our prediction system.” — Gov Capital
- Digitalcoin is a bit more positive with the website expecting Gyen to climb to .013 cents in 2021 and roughly 4 cents in 2028.
- WalletInvestor also holds a bearish stance on Gyen with a one-year price forecast of .0084 cents, which is down from its current price.
Overall, it looks like investors might want to stay away from Gyen for the time being. While the Coinbase listing could see the crypto eventually gain momentum, there’s no denying that it’s a risky investment right now.
GYEN saw a major spike in price when trading started today but is down slightly over the last 24 hours as of Wednesday afternoon.
Investors looking for more crypto news today will want to keep reading!
InvestorPlace has all the latest crypto coverage that traders need for Wednesday. That includes shares of Dunxin Financial (NYSE:DXF) taking off, new data concerning Stellar Lumens (CCC:XLM-USD), as well as a dive into Shiba Inu (CCC:SHIB-USD) today. You can find all that info by following the links below!
More Wednesday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On Low-Capitalization and Low-Volume Cryptocurrencies: With only the rarest exceptions, InvestorPlace does not publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume crypto that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
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