STRONG coin price prediction: Can token regain growth?

STRONG coin price prediction: Can token regain growth?

StrongBlock is the first of its kind decentralised platform attempting to make launching nodes, necessary for the smooth running of blockchains, cheaper and easier.

Its native cryptocurrency, STRONG token, has had quite the journey since launching in 2020, enjoying a rather fruitful 2021. Yet since then, the coin started to dramatically fall in the second half of January 2021, unable to reach past heights.

Can STRONG rise back to its October 2021 value and which factors are driving the STRONG/USD forecast?

What is the STRONG coin?

StrongBlock was founded in 2018 by ‘blockchain pioneers’ David Moss, Brian Abramson and Corey Lederer with the goal  to easily add secure, decentralised blockchains to any application.

It had taken the company, however, two years to launch its Blockchain-as-a-Service (BaaS) platform.

By tackling one of the biggest problems new blockchains face, StrongBlock managed to become the first and only blockchain-agnostic protocol that rewards its users for running nodes.

Nodes, which are vital for the existence of any blockchain, keep full copies of blockchain transactions but are hard to create and pricey to operate. This leads many nodes to run outdated software, store incomplete blockchain histories and be intermittently offline.

StrongBlock’s Nodes-as-a-Service (NaaS) function lets cryptocurrency miners create nodes in seconds. In turn, miners are rewarded in the form of the blockchain’s native cryptocurrency, STRONG, for maintaining the node without having to run their device 24/7.

Rewards can be boosted with StrongBlock non-fungible tokens (NFTs) that are available in four categories: bronze, silver, gold and platinum.

Once a node is launched, it can be used by anyone to access the blockchain the node was built for. So far, StrongBlock supports hundreds of nodes built for Polygon, Ethereum and Sentinel. The approximate amount to set up and run a full Ethereum node is $113.11 per month.

Being listed as an eligible node on StrongBlock is free, however, users should expect a mining deposit to amount to 10 STRONG tokens.

STRONG is an ERC-20 cryptocurrency built on the Ethereum network. Its original supply amounted to 10 million, however, after launching the second version of its Decentralised Finance (DeFi) protocol, StrongBlock ended up burning 94% of the original tokens limiting the supply to around 535,000 STRONG coins.

In the second version of its tokenomics paper, StrongBlock noted that the token:

  • Is primarily used for rewards.
  • Supports a low-inflation model with rewards mostly generated through node participation that may adjust in accordance to token valuation over time. In addition, deflationary measures will also be used including the burning of STRONG tokens in some transactions.
  • Establishes governance, which will eventually determine how StrongBlock works as a decentralised network.
  • Is helping the project reach a model of long-term, self-sustaining growth.

As of the time of writing (1 April), StrongBlock is rewarding 444,676 nodes.

Over 138,000 coins are currently in circulation, according to data provided by CoinMarketCap at the time of writing. STRONG currently has a market capitalisation surpassing $16m (£12.2m) and is ranked as the 828th largest cryptocurrency.

STRONG price analysis: Bear trend

The STRONG cryptocurrency embarked on quite the journey during its two years in circulation. After reaching a record high of $1,193.31 on 28 October 2021, the StrongBlock coin failed to regain those levels, slumping to the $116 mark, as of 1 April 2022.

After a mini peak of $708.97 on 14 January 2022 the STRONG token started to drastically drop, losing 35.48% of its value in 10 days. Throughout February 2022, the STRONG coin value lost 47% amid broad negative market sentiment as tensions rose on the Russia-Ukraine border.

STRONG/USD price chart, 2020 – 2022

In the most recent STRONG coin news, the project announced that the StrongBlock had reached 270,000 nodes on 27 January 2022.

The number of nodes being activated on StrongBlock drastically increased in February 2022 from 285,000 on 3 February to 350,000 on 27 February. In addition, the token celebrated great success as it debuted third on the top 10 US trending coins for the week chart on CoinGecko on 18 February. This gave investors hope that the token’s price could still resurface.

STRONG’s price continued to decrease in the next couple of weeks, falling to $113.62 on 26 March 2022, its lowest value that month.

Last year STRONG’s price action seemed hopeful as it surged to a record high of $1,193.31 on 28 October 2021 as the blockchain announced the start of its metal NFT lottery where miners would be eligible to qualify to purchase one StrongBlock metal NFT for its original price in STRONG.

In terms of STRONG technical analysis, the short-term sentiment for the token was largely bearish as at the time of writing (1 April).

Relative Strength Index (RSI) reading of 31 was extremely close to the oversold territory. A reading of 30 or below would indicate that the asset has become undervalued and a trend reversal is likely. Meanwhile, the token was trading below its three, five and 10-day moving averages, indicating a bearish trend.

STRONG token price prediction: Key drivers

On 28 February 2022, StrongBlock published its roadmap for 2022 underlining some key goals including:

  • The launch of its new token, STRONGER, which plans to solve a number of problems that followed the success of the NaaS DApp.
  • The release of several new features including two new, different types of nodes, a node marketplace and node transfer.
  • The platform’s intention to build a Layer 1, EVM-compatible blockchain protocol that will be known as StrongChain with the bigger goal in mind of moving its NaaS platform to StrongChain and creating a community-oriented model that will unlock new economic layers, increase sustainability, make STRONG more resilient, and lay a new foundation for growth.

BigONE Exchange chair in Asia, Anndy Lian, told Capital.com that the token’s price could be struggling due to the platform being unable to gain retail investor understanding.

“STRONG brings more decentralisation to the current decentralised space by offering multi chain third party external nodes and other data oracles to build robustness and efficiency,” Lian exclusively told Capital.com.

“They believe the best way to adopt blockchain is through DAO governance and reward the community sufficiently. This idea works well on the paper but may not be well understood by the retail investors as a whole. Things might change when they list in the more major exchanges,” he added.

Thus far, the STRONG token has been listed on ChainSwap and Poloniex Exchange.

In the recent announcement by the project, StrongBlock warned investors to beware of scams, suggesting it has been prone to attacks in the past.

StrongBlock (STRONG) price prediction 2022 – 2025

Despite the latest downward price action, algorithm-based forecasting service WalletInvestor gave a bullish STRONG crypto price prediction at the time of writing (1 April). The site noted that STRONG is “an awesome long-term investment”, adding that it has a long-term earning potential amounting to 1,343.3%.

Based on its analysis of past price performance, Wallet Investor predicted that STRONG could cost $460.507 in 2023 and reach $1,751.200 by 2027.

DigitalCoinPrice supported the positive STRONG/USD forecast but saw a much slower pace of growth in the following years, expecting the token to grow to $167.83 by the end of 2022 and reach $248.68 by the end of 2025.

By the end of 2027, the site predicted that the price of STRONG coin could reach $376.08. Its long-term STRONG token forecast showed the cryptocurrency reaching $553.34 by 2030.

Note that predictions about the future of STRONG can be wrong. Forecasts and analyst expectations shouldn’t be used as a substitute for your own research. Always conduct your own due diligence and rely on your own projections, and never invest or trade money you cannot afford to lose.

 

 

Original Source: https://capital.com/strongblock-strong-coin-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Does content moderation on platforms like OpenSea amount to censorship?

Does content moderation on platforms like OpenSea amount to censorship?

What are the responsibilities of blockchain companies when it comes to freedom of expression? A controversial cartoonist finds out the boundaries.

“I would describe myself as a transgressive artist,” the conservative cartoonist who calls himself Stonetoss, told Forkast.News. On Nov. 20, Stonetoss released 5,000 non-fungible tokens based on characters found in his work, listing them on Rarible and OpenSea NFT marketplaces. Calling his cartoon characters “Flurks,” Stonetoss said the sale was a huge success, selling out in just over 20 minutes for a total of 420 ETH worth US$1.8 million.

But hours later, both Rarible and OpenSea pulled the Flurks series from their listings without offering an explanation why, adding fuel to the debate over content moderation in the growing NFT marketplace.

Stonetoss is no stranger to controversy — he says he has received death threats in the past — which is why he only wished to be identified by his artist name. His cartoons often depict right-wing interpretations of issues regarding race, LGBT+ rights and vaccine mandates. While the Flurks themselves do not contain any explicit commentary, they do contain imagery relating to these themes, such as Confederate flags and red MAGA hats that are popular with Donald Trump supporters. Stonetoss believes his art was delisted due to the politics that he is associated with, rather than based on the actual content of his NFTs.

But is getting kicked off OpenSea and Rarible a troubling form of “censorship” and an infringement of artistic freedom, as Stonetoss says, or is it within these companies’ right to include only content that they like? With OpenSea alone controlling over 98% of the Ethereum trading volume market share, according to DuneAnalytics, do these blockchain marketplaces have a moral obligation to do more to defend freedom of expression, even if the views may be odious to a majority of its users — especially for a blockchain-powered industry that often champions decentralization as a safeguard to censorship?

Industry leaders themselves seem divided on these issues, and the extent of obligation and responsibilities of blockchain companies when it comes to freedom of expression.

“Whenever we talk about decentralization, it’s not about a cowboy town where you could just come in with anything,” Anndy Lian, founding member of NFT creative studio Influxo, told Forkast.News. “You have to follow the rules.”

Just as a physical gallery has the right to decide what art they wish to exhibit, Lian says NFT platforms are no different — and just because an expression exists as an NFT does not excuse it from the cultural consequence of its message.

“If the artist or the artwork is subjective, there is a chance that it will be removed,” Lian said. “This has nothing to do with [whether it’s an] NFT or not. This happens in the art world, in galleries too. This is surely not about decentralization and decentralization is not about just freedom.”

But others say that’s not really a choice when dealing with centralized systems like OpenSea or Rarible, when combined they effectively control the NFT marketplace — until better systems come along.

“If a company makes a decision that a user doesn’t like, they have the option to leave,” says said Corey Petty, chief security officer at decentralized messaging app and Web3.0 browser, Status, in an interview with Forkast.News. “If you don’t have that option, then companies can do whatever they want and you just can’t do anything about it. Which leads us to where we are today. [They] made a decision. What are you going to do? Leave? There are no other options.”

Stonetoss says he feels singled out by the right-wing politics usually associated with his brand rather than individual Flurks being offensive. The NFTs that got delisted from OpenSea and Rarible also contain symbols associated with the left, such as the rainbow pride flag and the communist hammer and sickle.“If I was a no-name artist, this would not have been the controversy or it would have not have received the reaction that it did,” Stonetoss said in a Zoom audio interview with Forkast.News with the camera turned off.

According to Rarible staff, the platform does not de-list items based on political affiliation. According to OpenSea’s terms of service, OpenSea will delist NFTs if they are determined to incite hate or violence against others.

“The delisting of my NFTs on Rarible and OpenSea was probably the result of a mass report because this is the technique [campaigners] have tried to use many times. The NFTs themselves, I maintain, are benign.”

But least one Twitter user spoke out about the inclusion of some of those symbols on NFTs hosted on the platforms, who said they are anything but benign: “I am losing followers for calling out a project blatantly using confederate flags in their NFTs. I am a racial minority, I grew up in the south, and my uncle was murdered because of the color of his skin.”

Another user in the same thread summarized the debate surrounding the use of the Confederate flag — which represented the slavery-defending states of America’s South, which lost the nation’s Civil War over 150 years ago but is still clung to with nostalgia by some Whites in America — by replying: “Sorry to hear this, I’m from the South and don’t know the pains of dealing with being a minority, I also know people that love the south who don’t look at the confederate flag as racist, I guess it’s hard to know people’s hearts and perspective, we can all learn and grow and show love.”

Neither OpenSea of Rarible had contacted Stonetoss to notify him of the delisting by the time he spoke with Forkast.News. At least one Flurk displayed on the homepage of Stonetoss’s website is wearing a cowboy hat and carrying a Confederate flag.

Rarible and OpenSea did not respond to Forkast.News inquiries for comment.

Will Stone decentralized Web3.0

As the world enters the realm of Web 3.0, Stonetoss’ story represents the glaring need — or cautionary tale, depending on your perspective — of how a decentralized version of the internet built around blockchain technology can dramatically change the gate-keeping powers and kind of content of public platforms.

“What we have is an emergent property of how the internet was built in the first place, that is the client-server model,” said Petty, of Status.”When you aggregate data and pool things like this, it’s inevitable that the people who are custodians of that information will take advantage of it” — including trying to control it in a way to maximize profits.

“That’s where we are today,” Petty added. “We build applications, they aggregate data. They then learn they can monetize that data; they optimize the application for monetization, not the end user.”

With a total trading volume of over US$13 billion, according to DappRadar, OpenSea might be the most important venue for digital artists to find buyers for their NFTs. Stonetoss says his delisting from the OpenSea NFT marketplace was not only a blow to him financially but also might have chilled creators of other controversial art. While Flurks holders are still able to transact peer-to-peer — his NFTs are de-listed but not deleted from the Ethereum blockchain — the infrastructure and culture is not yet available to allow the community to trade with the same ease as they would on a platform like OpenSea.

While the Flurks are not locked out of being traded — Stonetoss also sells them through his own website — OpenSea and Rarible have such an outsized influence on the market that any NFT collection that is not listed on one of these platforms is at a significant market disadvantage.

If the decision-making power to list or not list NFTs for sale were decentralized, would Stonetoss’s Flurks have suffered the same fate?

The moderating voice

In August this year, a series of 7,000 NFTs based around the popular meme Pepe the Frog — a mascot of Hong Kong’s pro-democracy movement in 2019 as well as a symbol championed by America’s far-right —  was removed from the OpenSea NFT marketplace after the character’s original creator filed a notice of copyright infringement with the platform.

OpenSea was quick to remove the content on copyright infringement grounds, but investors were left holding millions of dollars worth of NFTs with no significant marketplace left to trade them.

But when a collection of NFTs that look a lot like Flurks went up on OpenSea, the unauthorized copycat series remains listed on the site.

But should Stonetoss one day decide he wants to enforce his copyright, a truly decentralized platform is likely not going to act on user complaints.

“There is a long history of art that is transgressive and there should be a place for it,” Stonetoss said, admitting he would have trouble finding a physical gallery to display his work, which is why his medium has always been online.

“Those sorts of avenues are even more susceptible to people complaining about having a particular piece of art up,” Stonetoss said. “So, on the whole, I’m actually very optimistic; the whole de-listing event has been a little disappointing in that regard, but I guess it’s part of the growing pains of this sort of technology.”

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Anndy Lian: “Bitcoin ETF could attract more than $400 million in investment accordingly to Bloomberg. This could triple the amount. I am optimistic.”

Anndy Lian: “Bitcoin ETF could attract more than $400 million in investment accordingly to Bloomberg. This could triple the amount. I am optimistic.”

How Did Investors React To bitcoin’s ATH?

Bitcoin’s recent price surge ensured the cryptocurrency reached an all-time high, breaking beyond the $66,000 barrier for the first time, retaining its position as the world’s most valuable cryptocurrency. The market cap of all cryptocurrencies surpassed $2.53 trillion in May this year, reaching an all-time high of $2.64 trillion because of the latest Bitcoin price spike.

 

Bitcoin’s surge is the number one topic being discussed in our social media and Telegram groups at the moment. Many investors are astonished as to why Bitcoin’s price has risen so dramatically. Let’s look at what this implies for investors as I examine the reasons why the Bitcoin price hit an all-time high this time.

What’s causing Bitcoin’s price to rise?

The launch of the first Bitcoin exchange-traded fund (ProShares Bitcoin Strategy ETF, trading under the ‘BITO’ ticker on Wall Street) on the New York Stock Exchange, is the key driving force behind this Bitcoin price spike. Many crypto sector investors around the world have been advocating the advantages of crypto ETFs for years, most notably Cameron and Tyler Winklevoss, famous for their involvement in Facebook who had their Bitcoin ETF turned down by the Securities and Exchange Commission (SEC) in 2017. The success of this Bitcoin ETF has in turn set a precedent for other cryptocurrency ETFs to pass the audit, and it is also the primary driver for the recent rise in cryptocurrency values. The ProShares ETF witnessed

 

“one of the biggest first days on record for ETFs, raking in $550 million from crypto-hungry investors. Overall, more than $1.01 billion of shares changed hands,”

 

according to a report on business news channel CNBC.

 

Bitcoin Exchange Traded Funds (Bitcoin ETFs) are actually Bitcoin ‘futures’, not direct investments in Bitcoin. Futures are a kind of financial derivatives, which are essentially an agreement to buy and sell assets at a future date, meaning the assets are not owned by the investors. The fund’s main feature is that it allows non-crypto investors to buy Bitcoin without having to register a separate cryptocurrency trading account.

 

ProShares CEO Michael L. Sapir confirmed:

 

“BITO will open up exposure to bitcoin to a large segment of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not desire to go through the hassle and learning curve of establishing another account with a cryptocurrency provider and creating a bitcoin wallet.”

 

Simply put Bitcoin ETFs are not the same as buying Bitcoin directly.

 

“The futures-linked fund is subject to rollover risk, meaning that when it periodically closes positions in the futures contracts it holds, it can find itself, as is the case now, repurchasing new batches of future-dated contracts for more money. The situation, known as “contango,” eats into profits,”

 

confirmed the report in Fortune.

 

So, if you’re thinking about buying Bitcoin ETFs, make sure you know everything there is to know about futures trading.

What does the Bitcoin price surge mean?

I believe that if you plan to invest in cryptocurrencies for the long term rather than the short term, the latest all-time high of Bitcoin should be treated in the same way as any other volatile asset.

 

The benefit of buying and holding cryptocurrencies is that you don’t have to feel driven to trade when the price is extremely high or low because you’re working within a longer investing framework. Because of the volatility of cryptocurrencies, the market rises and falls to new highs and lows.

 

If you’ve done your homework and have a well-defined investment strategy, these price fluctuations shouldn’t affect your long-term position or approach. The best advice is to carefully weigh up the pros and cons of buying Bitcoin for the long term and make sure you have a well-thought-out crypto investment plan at the outset.

 

To put it another way, some active investors may believe now is a good opportunity to profit, while others believe Bitcoin will continue to grow in value. It was reported recently in Forbes that a panel of 50 bitcoin and cryptocurrency experts has predicted,

 

“the bitcoin price will continue to climb through 2021, hitting highs of around $80,000, before surging to $250,000 by 2025 and a staggering $5 million per bitcoin by 2030”.

 

When compared to buying and holding cryptocurrencies, active trading has the advantage of allowing investors to profit from market fluctuations and new all-time highs.

 

I feel that the launch of the Bitcoin ETF is an important step forward in the mainstream acceptance and usage of cryptocurrencies, which will benefit the whole crypto industry. Indeed, in a recent Motley Fool report, it’s suggested that Ethereum, crypto’s second-biggest player could be an even better bet.

 

“I think the long-term application building potential of the Ethereum network makes Ether a more attractive option for investors looking to benefit from the evolution of blockchain technologies,”

 

argued Keith Noonan.

 

“Ether’s price per token has surged roughly 458% across 2021’s trading. Despite significantly outpacing Bitcoin’s gains across the stretch, I still think Ethereum stands a good chance of outperforming Bitcoin over the long term,”

 

he added.

 

The Bitcoin ETF has helped institutional investors gain confidence and may open the door to new retail investors. According to the latest research, more than 50 million people in the US plan to invest in cryptocurrencies next year, and the Bitcoin ETF no doubt will play a crucial role in that adoption process.

 

The cryptocurrency sector has come a long way since Bitcoin’s launch in 2009, but there is still a long way to go and numerous technical obstacles to overcome before the industry reached mainstream adoption, with the blockchain sector as a whole still missing its “killer app,” and still awaiting its “Netscape moment.”

 

The crypto community has been waiting for its own version of this moment for years.

 

“And it may have just arrived with the first U.S. Bitcoin ETF begin trading, with more are on the way, and Bitcoin and Ethereum both hitting all new all-time highs,”

 

according to Decrypt’s executive editor Jeff John Roberts.

 

The future regulation of cryptocurrencies in many nations is still an “unknown possibility”. Individual countries are expected to introduce stronger regulatory frameworks and plans relating to the Bitcoin sector soon. As reported in the FT on October 13, the SEC’s indication that it is going to look more closely at how it regulates complex exchange-traded products has implications for future bitcoin ETF rules:

 

“Last week, SEC Chair Gary Gensler directed staff to study the risks of ETFs employing strategies ‘more complex than typical stocks and bonds’ and draft potential rules to address those concerns,”

 

the FT confirmed.

 

“Bitcoin ETF could attract more than $400 million in investment accordingly to Bloomberg. This is just the beginning based on what I see. Give it a few more months, we could see double of what we see right now. Australia’s corporate regulator has given the green light to a range of cryptocurrency-related ETFs, which could see Bitcoin and Ethereum-backed investment funds trading on the ASX in the coming months. This could triple the amount. I am optimistic.”

 

Anndy Lian, Chairman, BigONE Exchange commented on Twitter.

 

To conclude, as a result, I advise investors who are taking advantage of the current bull market to be prepared. The Bitcoin market may actually become more volatile because of planned regulatory reforms.

 

by Jenny Zheng @jennyzhengEarly crypto advocate | Investor | PR Expert | Cofounder of Blockcast.cc

 

Original Source: https://hackernoon.com/how-did-investors-react-to-bitcoins-ath

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j