SYS price forecast: will the smart contract support launch help SYS regain its value?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Dec 7, 2021
  • Syscoin has announced the launch of its smart-contract chain.
  • This occurred after it reached its 1,317,500 block, which marked the completion of Phase 1.
  • This has the potential to boost the value of the SYS token.

Syscoin SYS/USD is a decentralized public blockchain and a development platform that offers high throughput through cross-chain interoperability for tokenized assets.

Smart contract support as a catalyst for growth

On December 6, Syscoin completed block 1,317,500, and all miners shut down and upgraded to 4.3.

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This took a couple of hours to complete, and the network now has smart contract support. 

Additionally, projects that are running on Ethereum can migrate to the Syscoin Platform.

Syscoin now hopes that Phase 2 can bring a lot more to the platform, and there are plans of even implementing zk-Rollups onto the network, which could increase the speed up to 210k TPS in Q1 of 2022. 

Then there are the Phase 3 plans, which are intended to implement Validium technology to achieve 4 million TPS and ensure that the Syscoin platform has long-term viability.

All of this has the potential to boost the value of the SYS token.

Should you buy Syscoin (SYS)?

On December 7, Syscoin (SYS) had a value of $0.637.

To get a better perspective as to what kind of value point this is for the token, we will compare it to it’s all-time high value as well as its performance last month.

In terms of its all-time high value, it was on May 5 when the SYS token reached a value of $1.14. This gives us an indication that at its ATH value point, SYS was $0.503 higher in value or by 78%.

When we look at the performance of the token in November, on November 1, SYS had a value of $0.312. This was its lowest point of the month.

By November 30, it raised its value to $0.791, which was its highest point of the month. Here, we can see that the token grew in value by $0.479 or by 153%.

However, from November 30 to December 7, the token has decreased in value by $0.154 or by 19%.

Additionally, SYS saw an increase in trading volume by 46% in the last 24 hours, as well as an increased market cap by 25%.

This makes it an excellent opportunity to buy the token, as it has the potential to reach $0.7 by the end of December, making it a solid buy.

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