About Sologenic (SOLO)
Sologenic describes itself as a "sophisticated ecosystem" built atop of the XRP ledger.
It facilitates investing and trading among blockchain assets (cryptos) and non-blockchain assets, such as stocks and commodities futures.
SOLO is the Sologenic ecosystem’s native token. It’s used for market making and liquidity provisioning, according to Messari.
Take Tesla stock, in a given example, per the Sologenic white paper; in this example, TSLA would be presented on the platform as a tokenized stablecoin ("TSLAƨ"). These stablecoins are thus tradable and redeemable against XRP.
"SOLO creates a dynamic bridge between crypto assets and non-blockchain-based assets," Messari said.
Sologenic as of December 2021 was set to airdrop $1 billion of SOLO to XRP holders, it said.
The current price of SOLO
As of early April 2022, per CoinGecko, SOLO was trading at about $0.36, having shed 28% since the start of the year. SOLO’s decline in the first three months of 2022 coincided mostly lackluster performance across the digital asset markets. SOLO experienced a great deal of volatility towards the end of 2021. In October, the coin hit an all-time low of $0.06. From rock bottom, it then rose more than 1,000% to reach an all-time high of $6.55.
How the price of SOLO is determined
SOLO’s price partially stems from the token’s deflationary nature. Per Messari, SOLO has a total supply of 400 million, roughly half of which is currently in circulation. Some 10% of initial supply was formally offered to the public, while roughly 35% resides with the project’s core development team.
What the bulls are saying
*Sologenic, via SOLO cards, hopes to bring the cash-back concept popularized by traditional credit cards into the crypto world, said The Motley Fool.
*“Sologenic is a sophisticated ecosystem disrupting the asset trading industry, utilizing the on-demand tokenization of a wide range of assets,” Forbes said.
*SOLO will be worth more than $11 in ten years, TechNewsLeader said.
What the bears are saying
*Any cryptocurrency focused on providing utility must have a baseline population to make its platform worth considering and right now Sologenic's problem, like a lot of other projects, is the lack of adoption, said Marko Mihajlović, a blockchain industry member writing in early 2022.
* Technical charts as of April 1, 2022, showed a slight divergence to the downside, meaning the prices may very well be in a bearish market, InvestingCube said.
*The value of SOLO was forecast to decline 3% by the end of the first week of April, CoinCodex said.
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This content is correct as of March 2022.
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