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Badger DAO price prediction: A rough patch for BADGER

By Capital.com Research Team

18:02, 20 July 2022

A pixelated image of a badger
Badger DAO is letting investors use their Bitcoin as collateral in decentralised finance – Photo: Sanjay kj / Shutterstock

Badger DAO is giving investors a chance to use Bitcoin as collateral and earn yield through various decentralised finance (DeFi) products. All of these are being built by its community of developers.

Yet its native token BADGER has been depreciating since a phishing attack stole $130m of funds in December 2021. But most forecasters have anticipated Badger DAO to make a strong recovery.

What is Badger DAO?

Badger DAO is a decentralised autonomous organisation (DAO) that is building DeFi products. The organisation is standing out from the crowd by uniquely using bitcoin as collateral. Developers, or Badger Builders, are given the task to implement Bitcoin collateral on as many chains as possible

Its CoinMarketCap page says: 

“The pillars of Badger DAO include the Badger Builders, the community-created products, the Dedicated Badger Operations team, the fairly initial distribution of the BADGER tokens for governance and the fact that all of the code is open-sourced.”

There are two flagship products. Sett is a DeFi aggregator that tokenises Bitcoin giving investors the possibility of earning a yield by using this smart contract. Those locking up BTC in the Sett vault earn tokens, including the native BADGER coin. 

Meanwhile, DIGG is an ERC-20 token that is pegged to the price of bitcoin. It achieves this through its flexible supply and rebasing.

Chris Spadafora founded the DeFi ecosystem. Before creating Badger DAO, he was a partner at the crypto consulting company Angelrock and a long-term cryptocurrency investor.

All things BADGER token

BADGER is the DAO’s governance and utility token. As well as Ethereum, the ERC-20 token is available to be traded on Binance Smart Chain and Polygon. Those holding it can vote on the future of Badger DAO, such as upcoming products and treasury allocation.

The cryptocurrency has also been developed to reward users of the DeFi ecosystem. Investors can stake BADGER and provide liquidity to earn yield from the token.

BADGER’s past performance

BADGER price chart

 Source: CoinMarketCap

CoinMarketCap listed BADGER coin at $6.34 on 4 December 2020 and soon after it saw a breakout. Badger DAO experience a surge in the total value locked (TVL) into the protocol at the end of January. The native token then went live on CREAM Finance with a 12% interest rate on 10 February 2021. This same day it rocketed to its all-time high of $89.50.

It saw a significant correction afterwards and the next time it surpassed $50 was on 16 April. The surge followed a Badger DAO vault going live on Yearn Finance.

XRP/USD

0.62 Price
+5.810% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BTC/USD

64,601.70 Price
-0.240% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

BCH/USD

377.35 Price
-2.710% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

ETH/USD

3,422.05 Price
-0.610% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

Badger DAO’s next rally came in August when a proposal was passed by the community to increase the rewards from its Setts product. Yet, BADGER could only peak at a high of $33.94 after this proposal was implemented.

It did manage to climb to $52.73 on 3 November, but again was unable to sustain this momentum. Its value plummeted over the coming weeks.

This was made worse when the DAO was victim to a phishing attack on 2 December, which was traced to a fault in Cloudflare, an application that runs on the Badger DAO network. A total of $120m was stolen and the platform was only able to recover $9m of this.

After the attack, Badger DAO fixed the exploit in Cloudflare, but it appeared to be too late. The cryptocurrency had stooped to the $15 mark at the end of the month and eventually fell below $10 in February 2022. 

BADGER coin dropped to its all-time low of $2.63 on 18 June. It has recovered slightly since then. At the time of writing, on 20 July, it is trading at $4.28 and up 38% in a recent seven day period.  

Badger DAO price prediction

Most sites making a BADGER token price prediction have expected the cryptocurrency to continue this recovery. At the time of writing, PricePrediction said it could climb back to $5 this year. Its Badger DAO price prediction for 2025 anticipated it to average out at $15.96 and reach a new all-time high of $109.49 in 2030.

The 2022 Badger DAO price prediction from AMB Crypto expected the coin to reach $31.90. Its longer-term forecast said it would surpass $100 in 2028 and $200 in 2031.

TechNewsLeader has offered a similar forecast. Its BADGER price prediction estimated the DeFi token to reach a maximum price of $7 this year and $21.06 in 2025. The Badger DAO price prediction for 2030 said it could reach $139.02 and $196.17 the following year.

DigitalCoinPrice is much more reserved with its BADGER coin price prediction. It is expected to grow from $5.64 this year to $14.13 in 2028. At the beginning of the next decade, a maximum price of $20.36 is predicted.

When considering a BADGER 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

What is Badger DAO?

Badger DAO is a decentralised community building DeFi products that utilise Bitcoin as collateral. The BADGER cryptocurrency is the governance token used to vote on decisions. It can also be staked to earn yield.

Will the BADGER coin go up?

Cryptocurrencies can be highly volatile and prices can go down just as easily as they can go up. Analysts and algorithm-based forecasters can and do get their predictions wrong. Keep in mind that past performance is no guarantee of future returns. Always do your own research. And never invest what you cannot afford to lose.

How and where to buy BADGER?

Badger DAO is available to purchase on several exchanges, including Binance and Coinbase.

 

Markets in this article

BTC/USD
Bitcoin / USD
64601.70 USD
-155.45 -0.240%

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