Allianceblock price prediction: What is allianceblock (ALBT)?
By Peter Henn
14:07, 18 October 2022
It aims to link traditional and blockchain finance, but what is allianceblock (ALBT)? Let’s take a look and see what we can find out, and also examine some of the allianceblock price predictions that were being made on 18 October 2022, too.
AllianceBlock explained
One of the key concepts behind the world of cryptocurrency is that of decentralised finance, or DeFi. This idea basically suggests that there is another way to do things, far removed from traditional, centralised, banks and institutions. If, as the World Bank reported in 2017, there are 1.7 billion people without bank accounts but the majority of those people have mobile phones, there should be a way to access financial services without having to worry about having a bank account. If you think about it, this distrust of centralised banks and all that entails is at the core of cryptocurrency.
There is, however, one potential problem. While the idea behind DeFi is undoubtedly a very popular one, people like the stability and reliability of traditional finance. This is, perhaps, rather understandable as there have, regrettably, been more than a few DeFi-related schemes which have not worked as well as people might have liked them to. In turn, though, there might well be some things that some who uses traditional methods might find easier on DeFi, such as transferring money internationally. How, then, do we square this particular circle and create a system that works for everyone?
One crypto platform that aims to work its way around this particular issue is AllianceBlock, formerly known as the Prometheus Protocol, it is designed to allow people and businesses to, according to its whitepaper “facilitate cross-border transactions in capital markets in a completely regulated and compliant manner”. The system, which is based on the Ethereum (ETH) blockchain, is made of three parts. First, there is a data governance layer, which is meant to ensure that everything in the system complies with relevant data protection laws and that the data stays in good condition. Secondly, there is the cross border regulatory compliance layer, which makes sure that transactions are processed smoothly and are in compliance with local laws. Finally, we have the securities issuance and lifecycle management layer, which is built to ensure that anything that is sent via the system works properly and, again, in accordance with the law.
As the whitepaper says: “Users won’t be required to undergo know your customer (KYC) checks at every financial institution but have complete sovereignty over their data by enabling their storage in an encrypted manner. This prevents unauthorised usage and access while enabling the users to request its deletion at any time.”
Every blockchain-based platform needs to have its own native token, and AllianceBlock has its own, eponymous, cryptocurrency, also known by its ticker handle of ALBT. Named after the company behind the protocol, it is used to help pay fees within the network, as well as being used to reward the people who run the computers, or nodes, that help the platform operate. It can also be used as collateral and holders can stake it, or use it to vote on proposals relating to changes to the network.
AllianceBlock was founded in 2018 by entrepreneurs Rachid Ajaja, who serves as its CEO, Matthijs de Vries, who serves as CTO and bond trader I.N. Amber Ghaddar, who works as its CIO. One thing that we should point out at this stage is that, since ALBT is based on the Ethereum blockchain, it is a token rather than a coin. You might see references to such things as an allianceblock coin price prediction, but that is, technically speaking, wrong.
Allianceblock price history
ALBT price history from launch to present - Credit: CoinMarketCapLet’s now cast our eyes over the ALBT price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some much needed context if we want to either interpret an allianceblock price prediction or else make one of our own.
When ALBT first hit the open market in September 2020, it was worth somewhere around $0.15. It hovered around this figure for pretty much the rest of the year, but things started to pick up properly in early 2021. It was at this time that the cryptocurrency market enjoyed a boom period, and ALBT joined in the party, reaching highs of over $0.90 in late January and $0.80 in the middle of April. After this, though, the token and the market fell, but there was a recovery in August and, on 6 September the crypto hit its all-time high, scoring $1.35. After that, there was a downturn and, despite a return to above the dollar in November, the price declined and ALBT closed the year at $0.5834.
While 2021 had been a feast for the world of cryptocurrency, 2022 has, so far, been much more like a famine. Prices have dropped and ALBT has been no exception to the bearish rule. The token has pretty much dropped since day one, although there was a moderate recovery in the Spring as the token rallied, culminating in a periodic high of $0.34 on 4 April. After that, though, a series of crashes shook the crypto market and ALBT plummeted, sinking to a low of $0.04689 on 18 June. After that, any recovery was halting and things fell apart again in the autumn, with the nadir coming at $0.03704 on 1 October.
Since then, though, news that AllianceBlock had joined the International Association for Trusted Blockchain Applications (INATBA), following the launch of a data marketplace on the platform, helped the token get a much-needed price boost, with it trading at around $0.08755 on 18 October 2022. At that time, there were 232,955,783 ALBT in circulation out of a total supply of one billion. This gave the token market cap of around $20.4m, making it the 589th largest crypto by that metric.
Allianceblock price predictions
With that out of the way, let’s now take a look at some of the allianceblock price predictions that were being made as of 18 October 2022. It is important to note here that price forecasts, especially when it comes to something as potentially volatile as cryptocurrency, very often turn out to be wrong. Also, many long-term crypto price predictions are made using an algorithm, which means that they can change at any time.
First, CoinCodex had a short-term allianceblock price prediction for 2022 that suggested that the token was about to enter a downturn. The site said that ALBT could drop to $0.08416 by 23 October, before more than halving to just $0.040001 on 17 November. Despite this apparent gloom, the site’s technical analysis was rather more positive, with 22 indicators sending out bullish signals compared to six making bearish ones.
Next, CaptainAltCoin made an ALBT price prediction which said the token could well fall to a low of $0.0536 in December 2022 before bouncing back to trade at a potential $0.0832 in October 2023. The site went on to make an alliance block price prediction for 2025 that indicated further growth, saying that it could be worth $14.02 that year. However, that was as good as the site thought it was going to get, with it dropping to $0 by October 2027 and remaining worthless, a de facto dead coin, in both 2030 and 2040.
Meanwhile, DigitalCoinPrice made an allianceblock crypto price prediction which saw the token potentially trade at $0.0909 in 2022, $0.15 in 2023 and $0.19 in 2024. By 2025, the site said, ALBT could be worth $0.23, rising to $0.25 the following year and $0.28 the year after that and hitting a potential $0.33 in 2028. The site thought the token could close the decade at around $0.40, going on to make an allianceblock price prediction for 2030 of $0.49, before it could potentially reach $0.61 in 2031.
Finally, WalletInvestor said that there were bad times ahead for the crypto in its allianceblock token price prediction. The site suggested that ALBT was in for a tough 12 months, with it claiming that the crypto could sink to as low as $0.00183 by October 2023.
When considering an ALBT token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQs
Is allianceblock a good investment?
It is hard to say. While the allianceblock crypto has been on something of an upturn lately, it is perhaps a little too early to tell whether or not that can be sustainable, or whether it represents a temporary spike before it falls back down again. A lot will also depend on how the market behaves, too.
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets. So investors should be prepared to make losses and never purchase more than they can afford to lose.
Will allianceblock go up or down?
It is difficult to tell. While the likes of DigitalCoinPrice were optimistic about the crypto’s future, sites such as CaptainAltCoin had a more bearish view about the longer-term future of ALBT. It is very important to understand that price predictions very often end up being wrong, and you should also bear in mind that prices can go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether ALBT is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in allianceblock?
Before you make a decision on whether or not to invest in ALBT, you should research both the token and the DeFi sector as a whole.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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