Illuvium is an Ethereum-based open-world fantasy battle game that aims to provide entertainment to both casual gamers and DeFi enthusiasts.
In this article, we will be primarily discussing Illuvium Price Prediction for the upcoming year and will try to analyze based on technical analysis and latest developments around it to see if it is a good investment. So make sure you read the complete post. Let’s Being.
Key Takeaways
- Illuvium has partnered with GameStop to launch the Illuvitars NFT collection, aiming to revive GameStop’s struggling NFT marketplace.
- Blockchain gaming revenue rose in May as investment soar to $476 million and that will have a positive impact on ILV
- We anticipate the prices to cross $100 by 2025.
Illuvium Current Market Outlook
API request failed.Illuvium Historical Price Performance
API request failed.Illuvium Market Sentiment
Understanding Illuvium
Illuvium (ILV) is a role-playing game (RPG) and collection game built on the Immutable X L2 network. Immutable X is a trading layer 2 protocol for EthereumNFTs that provides users with instant trade confirmation, zero gas fees, and huge scalability without compromising user ownership. Illuvium aims to create a fully decentralized game that can run autonomously and provide players with an AAA-rated (high rating given by credit rating agencies) blockchain gaming experience.
According to the Illuvium whitepaper, NFT projects and users are facing cost issues for performing transactions on the Ethereum network. Ethereum can handle a limited number of transactions, which leads to users bidding up the gas prices on the network to settle their transactions quickly. As a result, the trading volume for NFTs has decreased.
Immutable X solves these issues by allowing users to trade their NFTs without paying gas fees using a technology called zero-knowledge (ZK) roll-up. This technology significantly improves NFT liquidity, ensuring that buyers can find what they are looking for and sellers can find interested buyers for their NFTs. Besides the savings in gas fees, there are several other benefits that Immutable X offers:
- Self-Custody and Security: Users can maintain the self-custody of their NFTs with the same level of security as the mainchain Ethereum.
- Instant Transactions: Transactions on Immutable X are instant, providing a seamless and efficient user experience. Moving back to the mainchain Ethereum is trustless and verifiable.
- No Need for Unique L2 Tokens: Users are not required to own a unique L2 token to buy, sell, send, or receive NFTs on the platform.
- Attractive Game Mechanics and Design: Illuvium offers attractive game mechanics and design to enhance the overall gaming experience for players.
- Scalability: The Immutable X engine supports over 9000 transactions per second, enabling fast and efficient transaction processing on the blockchain.
Illuvium (ILV) Technical Analysis – April 28, 2024
- On the 1-year timeframe, there is a strong support area of around $45 for ILV.
- The price of ILV appears to be consolidating within a tight range, indicating a potential breakout.
- ILV is forming a rising wedge pattern, which is considered a bullish sign in technical analysis.
- There is a strong possibility of a breakout within the next couple of weeks.
- If the breakout occurs, ILV could potentially reach $95, a level it has previously reached, and possibly even surpass it.
- The RSI (Relative Strength Index) is currently below 40, which suggests an oversold condition.
- The oversold RSI further indicates the possibility of a breakout from the current level.
Illuvium Latest Developments 2023
Illuvium has an ambitious roadmap for further development and expansion. Some of the key milestones include:
- Beta Release: The team aims to release the beta version of Illuvium, which will introduce additional features, gameplay mechanics, and content for players to explore.
- Integration with Other Platforms: Illuvium plans to integrate with other blockchain gaming platforms and ecosystems, expanding the reach and accessibility of the game.
- Community Governance: As mentioned earlier, Illuvium aims to implement community governance through the Illuvinati Council. This will allow token holders to actively participate in shaping the future direction of the game.
- Partnerships and Collaborations: The team intends to establish partnerships and collaborations with other projects, artists, and influencers to enhance the overall gaming experience and bring unique NFTs and content to the Illuvium ecosystem.
- Continued Game Expansion: Illuvium plans to release regular updates, new quests, events, and Guardians to keep the game fresh and engaging for its growing player base.
Illuvium has partnered with GameStop to launch the Illuvitars NFT collection, aiming to revive GameStop’s struggling NFT marketplace.
The collaboration between Illuvium and GameStop aims to offer immersive experiences and early access to exclusive games for NFT holders, revitalizing GameStop’s NFT platform and providing enthusiasts with a dynamic and engaging experience.
In May, the blockchain gaming industry experienced a rise in revenue, with a 6% increase in unique active wallets (UAW) and continued dominance in on-chain activity.
The emergence of new gaming chains and the success of social dapps and web3 games on iOS platforms are reshaping the industry. Illuvium’s games, Overworld and Illuvium Zero, have contributed to this wave of high-quality blockchain games, and investments in the sector reached $476 million in May.
Illuvium (ILV) Crypto Price Prediction: Quick Summary
Here is a quick summary of ILV Crypto Price Prediction for the coming years.
| YEAR | MINIMUM PRICE | AVERAGE PRICE | MAXIMUM PRICE |
|---|---|---|---|
| 2023 | $37.75 | $47.55 | $56.63 |
| 2024 | $69.22 | $78.66 | $88.39 |
| 2025 | $100.68 | $112.39 | $123.32 |
| 2026 | $131.70 | $141.08 | $150.91 |
| 2027 | $162.72 | $171.77 | $180.49 |
| 2028 | $193.75 | $202.47 | $210.06 |
| 2029 | $224.77 | $233.16 | $240.64 |
| 2030 | $255.80 | $263.85 | $270.21 |
Also, Read
Illuvium Price Prediction 2023
In 2023, Illuvium is expected to have a minimum price of $37.75 and a maximum price of $56.63. This indicates a potential range for the coin’s value throughout the year
Illuvium Price Prediction 2024
In 2024, Illuvium is expected to have a minimum price of $69.22 and a maximum price of $88.55. This indicates a potential range for the coin’s value throughout the year.
Illuvium Price Prediction 2025
In 2025, Illuvium is expected to have a minimum price of $100.68 and a maximum price of $130.55. If the crypto adoption rate continues to increase then it may go even higher than these levels.
Illuvium Price Prediction 2026
In 2026, Illuvium is expected to have a minimum price of $132.24 and a maximum price of $174.04.
Illuvium Price Prediction 2027
In 2027, Illuvium is expected to have a minimum price of $163.81 and a maximum price of $217.52.
Illuvium Price Prediction 2028
In 2028, Illuvium is expected to have a minimum price of $195.38 and a maximum price of $261.01.
Illuvium Price Prediction 2029
In 2029, Illuvium is expected to have a minimum price of $226.95 and a maximum price of $304.50.
Illuvium Price Prediction 2030
In 2030, Illuvium is expected to have a minimum price of $258.52 and a maximum price of $347.99. This is considering overall a positive outlook for the crypto market however if the trend and sentiment toward crypto is negative in the next decade then this may go down along with that as well. Therefore it is really important to closely monitor the crypto sentiment and adjust your holding as needed.
Is Illuvium a Good Investment?
Based on recent industry reports, the gaming sector has attracted significant investments, making Illuvium (ILV) a promising investment opportunity. As ILV primarily focuses on games and has partnered with GameStop for merchandise launches, it stands to benefit from this trend.
Apart from that, Illuvium is actively engaged in various technical developments and shows potential for a breakout in the near future. The technical analysis indicates a rising wedge pattern, suggesting the price could easily surpass $95 in the coming year or two.
Considering these factors now would be a good time to invest in ILV if you are enthusiastic about gaming and want to be part of the future of this exciting industry.
Check Out: Can Gala Hit $50?
Follow Community Updates for Illuvium
Tweets by illuviumioFAQ
What will Illuvium be worth in 2025?
In 2025, Illuvium is expected to have a minimum price of $100.68 and a maximum price of $130.55.
If the crypto adoption rate continues to increase then it may go even higher than these levels.
How much will Illuvium cost in 2023?
Considering overall a positive outlook for the crypto market Illuvium is expected to have a minimum price of $258.52 and a maximum price of $347.99 by 2030.
How much is 1 Illuvium in usd?
The current price of 1 Illuvium in USD is $45.07.
Disclaimer - Please note that these predictions and analyses are for informational purposes only. We recommend our readers conduct in-depth research before investing in any cryptocurrency and follow risk management techniques due to the highly volatile nature of the crypto market.
