As we dive into today’s article, we’ll first cover the basics of the Sylo crypto project. Thus, you’ll get to find out what the project is all about, what are its core aspects, and how it works.
Then, we’ll shift our focus to the SYLO coin. As such, we’ll take a closer look at the token’s purpose, use cases, and tokenomics. Of course, we’ll also look at the Sylo crypto’s price action. We’ll outline the coin’s main levels of support and resistance and explore what the Money Line indicator has to say regarding the asset’s performance.
Furthermore, you’ll have a chance to get acquainted with Moralis Money and its SYLO token page. After all, it is the go-to tool to determine if/when to buy $SYLO. In fact, this page is the best tool to determine if Sylo is a good investment for you. It even empowers you to come up with your own short-term SYLO price predictions.
Last but not least, for those of you who may decide to get a bag of this cryptocurrency, we’ll also ensure you know how to find the right market to buy $SYLO.
What is Sylo Crypto?
The Sylo crypto is a decentralized communication platform that has pioneered the development of a robust infrastructure known as the Sylo Network. Launched around 2017, the project centers on providing users with a secure and private means of communication within a decentralized ecosystem. Unlike traditional communication platforms, Sylo focuses on bridging the gap for mobile users, acknowledging the challenges posed by the inherent centralization of mobile devices.
Moreover, at its core, Sylo introduces the concept of Seeker Nodes and Sylo tokens to incentivize and reward users contributing to the network’s decentralized services. The project envisions a future where decentralized communication is accessible to everyone, fostering privacy, security, and autonomy.
Project’s History and Evolution
The Sylo crypto project embarked on its journey in 2017, though according to the project’s X (former Twitter) account, Sylo may have some roots dating even further back.
Since its beginnings, Sylo has been driven by the vision to revolutionize communication in the decentralized space. Over the years, it has evolved from its initial concept into a comprehensive network.
Along the way, the project was continuously adapting to the challenges posed by the mobile-centric nature of modern communication. However, the project’s commitment to decentralization and privacy has shaped its development, with key milestones marking its path.
From the introduction of Seeker Nodes to the utilization of probabilistic micropayments, the Sylo crypto has navigated the complexities of providing secure, private communication services in a rapidly changing digital landscape.
Nonetheless, it’s important to point out that the project continues to evolve. There are still many aspects of the complete Sylo vision yet to be fulfilled.
How Sylo Crypto Works: Decentralized Communication Infrastructure
The Sylo Network operates as a decentralized communication infrastructure. The network is powered by a multitude of Seeker Nodes run by independent users on their computers and servers. So, these nodes facilitate private, fully decentralized communication services, free from centralized control.
Moreover, users are incentivized through the Sylo token, earned by their devices providing communication services to the network. In a groundbreaking move, Sylo addresses the challenges of mobile devices designed with centralization in mind. It introduces probabilistic micropayments, staking mechanisms, and incentivizes “Event Relay” to create a seamless and secure communication layer for users and applications.
The decentralized nature of Sylo ensures that communication remains private, transparent, and free from the constraints of a centralized server architecture.
The core components of the Sylo network include:
- Sylo Token
- Seekers
- Seeker Nodes
- Sylo Tickets
- Staking
- Epochs
Furthermore, a critical service within the Sylo network is the Incentivised Event Relay, fundamental for decentralized communication applications. This service ensures message passing between users on mobile devices, even asynchronously when recipients are offline. Incentivized by blockchain technology, this relay service employs probabilistic micropayments, ensuring a trustless and competitive pricing model.
The Sylo network’s rules and incentives align individual node operators’ self-interest with the network’s collective goals. This fosters a robust and sustainable decentralized communication layer.
Note: If you are interested in exploring the ins and outs of the Stylo network and its workings, visit the project’s documentation:
What is the Sylo Token?
At the heart of the Sylo ecosystem is the Sylo token. The latter is a utility cryptocurrency designed to remunerate the essential costs of running a Sylo node. Beyond infrastructure, Sylo tokens measure an individual’s level of participation in the network. This determines the amount of work a node is responsible for and the corresponding earnings.
The Sylo crypto project believes that this unique off-blockchain layer functionality enhances scalability and efficiency.
So, the Sylo token goes beyond infrastructure. It serves as the native currency within the ecosystem. As such, it facilitates payments between users, smart wallet upgrades, in-app purchases, and real-world transactions.
Sylo Crypto’s Tokenomics
- Token name: Sylo
- Symbol/ticker: SYLO or $SYLO
- Network: Ethereum
- Token type: ERC20
- Smart contract address: 0xf293d23BF2CDc05411Ca0edDD588eb1977e8dcd4
- Maximum total supply: 10,000,000,000 $SYLO
- Minting timestamp: May 2, 2018, at 02:46:28 AM (+UTC)
- Initial allocation in 2018: 10 % for the ecosystem incentivization, 10% for developers, 22.5% for the DN 3010 Limited, 25% to the Sylo Protocol Pte. Limited, and 32.5% for wholesale purchases during the Token Generation Event (TGE).
Since it’s been more than five years since the SYLO coin went live, all its lockdown periods have long expired. However, there are still three addresses that together hold more than 50% of the asset’s supply. You can explore this on Moralis Money’s $SYLO page (the Bubble Chart section):
So, the token’s distribution is far from even, which poses a risk of these addresses going on a massive sale event. Moreover, the token’s smart contract includes the mintable function, which means that new instances of the asset can be created. Just some things to keep in mind when deciding whether to invest in $SYLO or not.
$SYLO Price Action
Despite being minted back in 2018, it wasn’t until Spring 2020 that the Sylo crypto started trading. At the time, the token was listed at around $0.0055. Within the first couple of months of trading, $SYLO wasn’t as volatile as new altcoins tend to be. After all, it stayed within the $0.0039-$0.0072 region.
However, at the end of July 2020, the token’s price broke down out of the aforementioned range. With some bounces along the way, the asset reached its bottom by the end of 2020 at around $0.0008. $SYLO set its all-time low (ATL) on January 5, 201, at $0.00076. Moreover, the coin stayed around that price level until February 8, 2021.
Then, the coin started to wake up and its price began to climb. Initially, it managed to establish new support above $0.0011. However, on March 10, 2021, the token entered a rather impressive rally with the rest of the crypto market.
On May 6, 2021, SYLO set its all-time high (ATH) at $0.0148, increasing by roughly 19.4-times from its ATL. And while this is quite an increase, it is far less than the average altcoin’s increase during a bull run. The latter tends to offer 50-70x runs.
Moreover, SYLO’s ATH reached less than 3x above its listing price.
After that high, the asset’s price pulled back and was in a long-term downtrend until October 20, 2023. Sure, there were several relief rallies on the token’s downward trajectory, several higher than 100%. However, it wasn’t until the end of November 2023, that the asset broke out of that downtrend:
Since October 2023, the Sylo crypto price has increased by more than 300%, hitting as high as $0.00475 on December 18, 2023.
TA and Money Line
After the peak on December 18, 2023, the token experienced a noticeable 27% pullback on the same day. At the time of writing, the SYLO coin’s price is ranging around $0.0035.
If you take another look at the above weekly $SYLO chart on a regular scale, you’ll notice horizontal blue lines. Well, we charted them based on the token’s key levels of support and resistance. And while this aspect of TA sticks to the very basics, it tends to be quite useful and powerful.
Of course, there are also many advanced TA tools and indicators we could use. However, there’s one powerful indicator that has been serving us amazingly well for years – Money Line. The latter combines the power of on-chain insights and price analysis to offer simple and easy-to-interpret signals. And for the SYLO crypto, it is offering the “Bullish” signal on both weekly and daily timeframes:
Note: If you wish to get your hands on the powerful Money Line indicator, make sure to opt in for the Moralis Money Pro or Starter plan.
Sylo Crypto Price Prediction
There’s some urge in human nature to want to make long-term predictions. As such, there are many 2024 and 2025 Sylo price predictions out there. However, before you waste your time searching for such predictions, let us tell you that they are pure guesses. As such, most of them, if not all, will be way off the mark.
After all, the crypto market is in constant flux and no one knows what will happen next. However, while long-term price targets are purely speculative, there is some power in any properly determined short-term Sylo price prediction. By using the right kind of data, it is possible to make short-term predictions with increased probability.
For this kind of approach to have any legitimacy, it must be based on the asset’s live price and real-time on-chain metrics. The combination of these types of insights is the only way to understand the trading outlook of a coin.
Luckily, you can access these types of insights for free on the Moralis Money $SYLO token page. The live SYLO price awaits you in the “Price Chart” section, where you can put it in a proper perspective using a dynamic chart. On the other hand, the real-time on-chain data awaits you in the “Alpha Metrics” section.
So, make sure to follow the above “$SYLO” link or use the interactive widget below to determine in which direction is SYLO headed.
Is $SYLO a Good Investment?
It is up to you to decide whether or not $SYLO is a good investment. By using this article and the above-mentioned page, you should have no trouble making an informed decision. However, start by ensuring that your current financial state and your risk aversion allow you to invest in altcoins. After all, you need to be able to handle the volatility.
Moreover, before answering the above question, make sure to DYOR the project behind the SYLO coin further. To that end, use the resources and tools offered on the Moralis Money $SYLO token page.
Where to Buy Sylo Crypto?
If you decide you wish to get a bag of $SYLO, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
Sylo Crypto – What is SYLO Coin? – Key Takeaways
- Sylo crypto is a Web3 project that aims to establish a decentralized mobile communication solution.
- At the core of the project, is the Sylo network – a decentralized network of the Sylo nodes.
- The network is powered and incentivized by the SYLO crypto coin.
- Those interested in investing in Sylo can do so by buying the SYLO token.
- $SYLO has been trading since 2020 and set its ATH in 2021 and its ATL in 2023.
- In November 2023, the coin’s price broke out of a long-term downtrend. This happened during the asset’s 300%-plus rally.
- To determine if/when to buy the Sylo coin, use the Moralis Money $SYLO token page.
No matter what you end up doing with the SYLO token, make sure not to forget about other altcoin opportunities. After all, it’s important to invest in multiple tokens to increase your chances of catching those 50x-plus gains.
Luckily, it’s never been easier to spot the best altcoin opportunities. Thanks to Moralis Money, you can now generate dynamic lists of altcoins with potential with just a couple of clicks. In fact, you can even use this ultimate crypto scanner on autopilot.
Unlike other crypto analysis tools and blockchain analytics tools, Moralis Money puts user experience at the forefront. As such, it ensures you get clear and actionable insights with ease.
So, whether you use Moralis Money’s cryptocurrency analysis sites, like the one for the $SYLO token, its crypto pump detector, crypto whale tracker, or any other crypto trading tools in its arsenal, you’ll finally be able to make sense of real-time on-chain metrics.
