Kik is a mobile messaging application that was developed by Kik Interactive, a Canadian company but currently owned by the MediaLab. Kik’s user base has increased over the years, up to 300 million as of 2016. The anonymity Kik mobile messenger offers users whereby the user can choose to view messages sent by strangers or not makes Kik’s extraordinary. Kik has released its cryptocurrency, Kin, to some users and is also working hard to make them available to every user.
What is Kik doing differently?
Most applications have a digital currency of some kind that enables users to take specific steps while keeping the number of checks limited to how much they have. Kik’s digital currency, called “Kin,” started in 2017. This move was to remedy the challenges facing the app in competing with more established brands. The Kin was launched publicly on the Ethereum blockchain, and 10 trillion units, which made the system deflationary. The Initial Coin Opening price was about $0.00011, but the kin price have changed over the years.
What other prospects exist for Kin?
Kin tokens are different from the digital currencies found in some other apps as they have an actual monetary value. The company is confident that Kin tokens can become very useful even on other platforms in the years to come.
How have Kin prices fared over time?
Price has always been affected by the forces of demand and supply in the world of finance and business. The deflationary property of the Kin is conferred on it by a fixed amount of 10 trillion units. Usually, price rises with demand and reduces with increased supply. As expected, the need for Kin tokens has increased gradually since its ICO, resulting in a significant increase in Kin prices over time. As of January 2019, the kin token price placed at $0.00145 took a downturn when the crypto winter came in. The price dropped lower than $0.000025 for most of 2019, and the rate this year has remained there.
Does the future look brighter for kin prices?
Since the increase in supply reduces the price, and there is a fixed supply for Kin tokens, the expected rise in kin prices in the coming years is not out of place. Historically, Kin tokens have shown a similar price-change pattern with Bitcoin among other cryptocurrencies. With about 3 trillion released, and the market capitalization is at about $4 million presently. There are expectations that the rest of the Kin tokens will be injected gradually over the years as infinite people subscribe to Kin as a viable cryptocurrency for investment.
Kin prices are good light at this time, as Bitcoin and some of the other cryptocurrencies.