Realio Network (RIO) has had a pretty successful few weeks, rising +158% in the past 30 days. The price of Realio (RIO) is $0.674994 today, which signifies a –9.8 % drop in the past 24 hours. At the end of the last bull run, RIO’s all-time high was $5.12 about 3 years ago.
Can RIO surpass its previous all-time high and hit $100? Let’s find out.
What is Realio Network (RIO)
Realio Network is a layer 1 blockchain and web3 ecosystem that focuses on issuing digital real-world assets (RWA). The network is also fully open-source and permissionless.
Developed by Derek Boirun, Realio is the network that serves as the base layer for their RWA-based Metaverse, realioVerse.
Realio supports several wallets, including Freehold Wallet and Metamask.
While a Layer 1 blockchain, Realio is also an EVM-compatible network that uses a Proof-of-Stake consensus mechanism. RIO is the native utility token of the network.
Realio began traction a few months ago after it became clear that the RWA narrative would hijack the next bull run.
RIO Token Price History
When RIO launched back in 2018, its price was $0.0134. The token has risen and dropped with time but gained over 4,900% since hitting its all-time low in October 2022.
RIO has had time to build unique technology to help bring real-world assets onto the blockchain, competing with projects like Centrifuge and Akala.
While RIO began trading long ago, the RIO blockchain is only 7 months old. It was not until the release of the network in April 2023 that RIO began to see a surge of interest once more.
RIO Price Prediction
RIO price is attractive, to say the least. RIO recently went on a tear and hit a high of $0.8385. The asset is looking to reclaim its previous all-time high of $5, which it hit right after launching.
Key support areas for RIO are at $0.38, $0.26, and $0.096, while crucial resistance areas lie at $1.5034, $2.39, and $5.29. If RIO breaks this, it would be price discovery mode for the asset.
After entering the oversold area, the daily RSI and price action are headed down. This is a clear indication of market cool-off.
While these two indicators are decreasing, the RIO volume is $6,508,963 as of November 28, 2023, 8:36 A.M. UTC, signifying a 9.14% increase in the past 24 hours.
Increasing volume with a depreciating price indicates that the market is interested in the project, and buyers are buying the dip, anticipating a move higher.
Can RIO Price Hit $100 in the Next Bull Run?
Yes.
The RWA market size is $3.5 trillion, which can go up to $10 trillion in a bullish market. The years of work perfecting the metaverse may offer Realio a first-mover advantage in this burgeoning market.
The maximum supply of RIO is 75 million tokens, while the total supply is 55 million tokens. According to verified data from Coinmarketcap, RIO has a circulating supply of 6,568,515 tokens.
At the current price of $0.674, the market cap is $4,427,179. If RIO were to tap even just 1% of the RWA market in a bear market, it would be handling $30 billion, putting its price at $4,567 (assuming circulating supply never changes).
Even if all the 75 million tokens were to be released into circulation at a $30 billion market cap, RIO would still be trading at $400 – and this is using bear market statistics.
RIO can easily hit over $1000 in price in a bullish RWA market.
Author’s Opinion
The case for Real World Assets has become more than just rumors in crypto. As we may all know, the world is not yet done with pandemics. The infamous head of the World Economic Forum, Klaus Schwab, said the next pandemic could be Cyber. And if we learned anything from Covid-19, these global calamities are far from natural or accidental.
Similar to how COVID-19 confined people to cyberspace, future pandemics will cause the world to retreat to digital space. Projects that create a platform for people to connect on the digital space (aka Metaverse) in a meaningful way will have the lion’s share of the RWA market.
This is why RIO is an excellent long-term investment decision.