EverGrow is a deflationary “reflection token,” similar to the well-known cryptocurrency SafeMoon, where holders of EGC receive an 8 percent incentive for each buy, transfer, or sell transaction.
A cryptocurrency known as a “reflection token” rewards its owners with a portion of transaction costs in exchange for holding it.
The cryptocurrency, which was introduced before the end of 2021, asserts on its website that it is the first token to “self-generate” benefits for investors. According to the website, EverGrow’s intended use is not as a medium of exchange, unlike currencies like bitcoin, but rather as an ecosystem that creates money for all members only by holding the EGC token.
“EverGrow Coin is pleased to be the world’s first Yield Generation token to reward its holders in $BUSD,” the EverGrow whitepaper states. With its ground-breaking and game-changing token distribution technique, it is setting a new benchmark for DeFi Tokenomics. EverGrow is made to be kept for a longer period of time in order to produce passive income and capital growth. Investors profit in both bull and down markets since stablecoin incentives are paid on all transactions.
How does this impact a price projection for EverGrow? Let’s first examine the ecosystem’s functioning before turning our attention to forecasts.
EverGrow (EGC): What is it?
The idea purportedly stands out from rivals thanks to a number of features.
As a deflationary token, several mechanisms are in place to gradually decrease the supply. This implies that “individual assets will become more valuable and receive a bigger proportion of rewards,” according to the project website.
Every time a transaction is executed, 2 percent of the native token EGC is gathered through “BuyBack & Burn.” This chunk is transformed into BNB and then saved in the smart contract.
According to the website, when BuyBack & Burn is activated, “the contract purchases $EGC directly from exchanges, driving up the price, and immediately and permanently removes those purchased tokens from circulating supply by sending them to the contract’s ‘Burn’ address,” resulting in “less circulating supply, so a higher share of rewards paid to holders.”
The development of platforms and utilities that generate income over time is the goal of cryptocurrencies. The BuyBack & Burn fund will supposedly get this income, thereby boosting the tokens’ value.
Every transaction is subject to a tax of 14%. In addition to this, 2% goes to BuyBack & Burn, 3% goes to the liquidity pool, and 1% goes to the marketing wallet. Of this, 8% is allocated as rewards.
The project appears to be an interesting one with an ambitious roadmap that includes the implementation of an NFT financing platform in the second quarter of 2022 and the launch of an exchange in the third quarter of 2022.
The group at EverGrow
Sam Kelly’s LinkedIn page indicates that he serves as the coin’s chairman. Kelly, who is located in the UK, has experience in a variety of financial roles. She has worked as a financial consultant for Tourbillon Limited, a Spanish investment office, and as a non-executive director at Nanusens, a manufacturer of semiconductors.
Kelly is “responsible for directing the board and focusing on strategic affairs, monitoring EverGrow’s commercial goals and setting high governance standards,” according to his LinkedIn profile.
Ajeet Singh, a lead technical developer, and Praveen Rai, a marketing manager, are additional team members.
What does this signify for the price forecast for EverGrow coins? Let’s take a look at the token’s performance since debut before moving on to forecasts.
EverGrow’s performance for coins
Since the token’s introduction, it has been quite volatile. CoinMarketCap claims that the price of the currency increased right away after debut, rising from a low of $0.00000005841 on October 8 to an all-time high of $0.000003379 on November 1.
However, the token immediately fell, hitting a low of $0.000001177 on November 2, 2021. After that, it increased, reaching $0.000002757 on November 5, 2021. The EGC coin fell to $0.00000139 on November 9 before rising to $0.000001882 on November 15, 2021.
The token fell by November 29, 2021, to a low of $0.0000005496 and remained flat until the start of 2022.
By January 4, 2022, the token had reached a high of $0.000002348, but significant volatility persisted, causing the EGC token to drop to a low of $0.000001033 by January 10. The next day, it increased once more before declining. After that, EverGrow started to decline, reaching a low of $0.0000004423 by March 31st, 2022.
The token was much lower on April 8th, 2022, at $0.0000003951. The token thereafter made large gains despite considerable volatility; by 23 April, EGC had risen to $0.0000005475, and by 25 April, it had soared to $0.000000614.
However, the coin’s price has since significantly decreased; as of May 6, 2022, it is now only worth $0.000000303123.
The maximum amount of EverGrow tokens is one quadrillion, and there are now roughly 493 trillion of them in circulation. The market capitalization of the protocol is $183,237,848.67.
After knowing all of that, let’s examine what the most recent information on an EGC price prediction is.
Price prediction for EverGrow: Is the treatment worthwhile?
While price estimates are crucial when trying to determine whether a cryptocurrency is a suitable investment, it is vital to remember that such predictions, especially longer-term ones, can frequently prove to be inaccurate. Let’s examine some EverGrow price forecasts with this in mind.
According to a highly negative projection by Gov.capital, EverGrow may cease to exist in a year.
With a slightly less pessimistic outlook, DigitalCoinPrice believes the 2022 EverGrow price projection might average $0.000000465. The platform estimates that the price of EverGrow in 2023 may be $0.000000525. The website’s estimate of the price of EverGrow for 2025 is $0.000000670, and its estimate for 2030 is $0.00000162.
PricePrediction.net predicts that the token’s average price will be $0.00000069 by 2022 before increasing to $0.00000209 by 2025. The EverGrow prediction for 2030 on the platform is $0.00001302.
In a bullish prediction, WalletInvestor believes the token might increase to an almost unbelievable $0.533 in a year.
