Amid the lingering market and regulatory developments, crypto has continued to show great resilience. Recall that the crypto industry has, in recent time, been ravaged with stringent regulatory measures. These efforts by regulators across the globe have ignited debates as to whether cryptocurrencies can be classified as securities or not. However, this confusion had not discouraged more beginners from dabbling into cryptocurrencies. More so, some countries as well as international brands have adopted the assets as their medium of payments. As of today, the crypto market is worth over $3 trillion. This thus affirms that crypto is undoubtedly here to stay irrespective of the regulatory challenges. Meanwhile, as the interest in the industry continues to gain massive momentum, one of the assets that has started to gain the attention of investors is Ocean protocol, thereby necessitating its price prediction in this article.
It is noteworthy that this price prediction article will only focus on 2023-2033 projections for Ocean protocol crypto. Our analyst considered the fundamental factors driving the value of the crypto to come up with these projections. Worthy of note that the current trends in the broader market was also put into consideration. This is simply because the trends in the market usually impact the volatility of Ocean protocol crypto, just like it affects others. However, it must be understood that this article is only geared towards providing a clue about the possible future of the token. Potential investors are advised to still carry out their personal research before subscribing to it.
An Overview of Ocean Protocol (OCEAN)
Before dabbling into the price prediction for Ocean protocol, it is imperative to first give a little background of the token. Interestingly, the crypto is widely known as OCEAN. As the native asset of its protocol, it helps to facilitate every economic activity in the Ocean ecosystem. In clearer terms, OCEAN is usually used to stake data on its platform. Notably, every user of the protocol can stake the token on a data asset to earn rewards. Through these stakes, they provide liquidity to the Ocean marketplace. The provided liquidity is consequently used by traders, who then pay transaction fees to the network. More so, it is from this transaction fee that the protocol rewards stakers. But, their rewards are usually determined by the amount of their stakes.
Beyond this, the token, according to its whitepaper, helps to manage community funding and participation. Through the token, users of the platform buy and sell data tokens. Worthy of note that OCEAN is designed to function as the unit of exchange for these data tokens. By holding OCEAN, users enjoy governance rights, thereby becoming eligible to participate in voting on proposals capable of developing the ecosystem. Just like other cryptocurrencies, OCEAN can also be bought, exchanged and even converted into other ERC-20 tokens, including ETH, DAI, and more. Meanwhile, it has a total supply of 1.41 billion coins and a circulating supply of 613 million coins.
Past Price Performances of OCEAN
Certainly, the past price performance of Ocean protocol crypto also provides insights into what its future prediction would be. Recall that the crypto made its market debut in mid-2019. Then, OCEAN traded within the range of $0.02 to $0.04. Following the bearish run in the broader market, it dipped to as low as $0.01 around August. The situation worsened, thereby forcing the token to end the year within $0.015.
In 2020, OCEAN saw a better movement in its value. In the second month of the year, the token rose to $0.08. However, in March, it recorded a pull back, thereby trading at $0.016. It is noteworthy that the pull back was caused by the economic implications of the coronavirus pandemic. The crypto economy bounced back in June after a sudden bull run. This development caused OCEAN to recover to $0.7 around August. It sustained this run till September before crashing back to $0.28. Before the end of the year, the token saw a slight recovery to end 2020 with $0.32.
Remarkably, 2021 proved to be more exciting for OCEAN. No doubt, this was due to the bull run that greeted the market at that time. Notably, this bull run spiked the crypto to as high as $0.54 in late January. By sustaining this momentum, OCEAN was able to attain $1 for the first time in February. By April, the crypto reached its all-time high after it traded around $1.9. Worthy of note that this bullish trend also pushed the market cap of OCEAN beyond $700 million. However, following a heavy market correction, it began to crash in May. With this development, the token plunged back to $0.54. However, by late 2021, the crypto had recovered and traded around $0.95.
Meanwhile, it started 2022 on the same foot. But, after the bearish trend stormed the market in May, the token experienced a big crash. Our findings showed that OCEAN reacted to the trend by plunging to $0.22. Around July, it further plummeted to $0.18. It continued to trade within this range till the end of that year.
Ocean Protocol Price Prediction 2023
After enduring a torrid market atmosphere in 2022, experts expect OCEAN to record a bounce back in 2023. Recall that in the previous year, the token fell drastically from its all-time high of $1.9. A figure it recorded during the crypto boom of 2021. Therefore, OCEAN is predicted to start the year at $0.16. A figure market analysts predicted to be its minimum for the year. Furthermore, $0.55 will be the highest value of the coin for the year according to market analysts. Going by this figure, OCEAN is projected to hit an average price of $0.35 for the year.
|Month||Minimum Price||Average Price||Maximum Price|
Ocean Protocol Price Prediction 2024
Experts predicted that in 2024 OCEAN will record a strong performance that will place it among the league of top gainers in the market. By their analysis, the token will hit a maximum price of $0.4317. Accordingly, the coin will record an average value of $0.37 with a minimum value of $0.32.
Ocean Protocol Price Prediction 2025
In 2025, experts expect OCEAN to benefit from the healthy atmosphere of the crypto market. Due to that, they tipped the coin to trade between $0.41 and $0.52. On the average, the token will hit $0.46.
Ocean Protocol Price Prediction 2026
Based on previous price directions of OCEAN, our price estimation of the coin for the year indicated that the OCEAN is likely to trade within the range of $0.50 and $0.65. Likewise, our estimation also indicated that the average price of the token will be $0.57.
Ocean Protocol Price Prediction 2027
For the year, OCEAN will soar to $0.80 representing its highest value for 2027. Accordingly, we project the token to record a minimum price of $0.68, with an average price of $0.74.
Ocean Protocol Price Prediction 2028
Deeming the old price movement of OCEAN, our prediction for 2028 indicates that the token may trade between $0.91 and $1.2. Similarly, our estimation also suggests that the average price of the coin will be $1.05.
Ocean Protocol Price Prediction 2029
Due to numerous price projections by experts, OCEAN is expected to rally to $1.5 for the year. According to analytical assessments, the token will enjoy a minimum price of $1 with an average price of $1.25.
Ocean Protocol Price Prediction 2030
Considering the projected price of the token in previous years, experts are hopeful that OCEAN will retain an average price of $1.75 in 2030. Therefore, the coin is expected to trade between $1.5 and $2 for the most of the year. With this projection, OCEAN will record a new all-time high for the first time since 2021.
Ocean Protocol Price Prediction 2031
Meanwhile, OCEAN despite gaining little market attention compared to other coins, we expect the token to hit a maximum price of $2.5. Furthermore, our price projection for the coin is tipping it to trade at $1.9 and $2.2 as its minimum and average price respectively.
Ocean Protocol Price Prediction 2032
In 2032, OCEAN will trade between $2.7 to $3.2 as the coin will enjoy a minimal increase, continuing its run from the previous year. With this projection, the average price of the coin is predicted to be $2.95.
Ocean Protocol Price Prediction 2033
Our price projection for Ocean Protocol in 2033 is tipping the token to enjoy more stability. During the year, we expect the token to not plummet below $3.8. More so, the coin will record $4.1 and $4.4 as it’s average and maximum value for the year.
|Year||Minimum Price||Average Price||Maximum Price|
According to our prediction on the future price performance of Ocean protocol, the coin will increase in value at a gradual range. Likewise, these projections indicated that the token will take a while before attaining the level of its peak performance in 2021. However, investors are encouraged to trade and invest on the token with caution. The aforementioned price projections are likely to change for good or worse depending on the overall market condition. OCEAN isn’t immune to the general volatility of the crypto market.
Disclaimer: This review is done by our experts, This is not a financial advice, BinBits is not liable for any lose/damage to any user, Please do your own research before investing in any project
Read More :