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Beyond Protocol price prediction: Will it U-turn from the slump?

By Payel Bera

Edited by Vanessa Kintu

10:10, 24 March 2022

Blockchain technology is a futuristic hud background with a global globe and a peer-to-peer blockchain polygon. The concept of a business banner of the global blockchain cryptocurrency.
Beyond Protocol price prediction: Will it U-turn from the slump? – Photo: Shutterstock

Beyond Protocol (BP) has been on a downtrend. At the time of writing today, 23 March 2022, the Beyond Protocol token price was at $0.1085, 99.87%% below its all-time high of $79.30 on 5 October 2021. While the crypto is quite new and holds a lot of expectations, longer term investors may try buying in the dip, while short-term investors look to ride a rally.

Will the coin manage to climb back to or even surpass its initial trading value? Let’s look at Beyond Protocol price prediction for 2022 and beyond.

What is Beyond Protocol?

Beyond Protocol is a blockchain company providing a decentralised security layer for the Internet of Things (IoT). IoT is becoming the core of the digital age, from smartphones to smartwatches, drones, sensors and more, it has impacted virtually every industry globally.

The company aims to become the backbone of IoT by providing developers and semiconductor manufacturers with a new set of tools capable of building endless applications on top of IoT sensors and microcontrollers. These devices and applications can then be connected on a secure, decentralised network powered by intelligent autonomous contracts. 

Its blockchain network and consensus layers are built on the Tendermint Core, an application-agnostic engine responsible for secure and consistent replication. Adding the protocol to IoT devices makes them theoretically impossible to hack. This allows users to safely communicate and pay each other with crypto or fiat. 

Tendermint is a platform/application that relies on a Byzantine-Fault-Tolerant (BFT) algorithm to reach a consensus on the validity of the transaction and is responsible for generating and ordering transactions.

Each chip manufacturer can build an ecosystem with a unique Software Development Kit (SDK), which allows developers to build products and applications using the manufacturer’s IoT product. Beyond Protocol offers a flexible protocol that combines blockchain and hardware signatures and consists of a set of SDKs that enables IoT devices to securely:

  • Identify

  • Communicate on a peer-to-peer basis

  • Exchange value through a wallet

  • Approve transactions through a consensus

Some of the main features of Beyond Protocol’s protocol help SDKs distinguish two major types from the blockchain stack, the master client and the client node. 

Main protocol features

Looking into practical applications, IoT finds high utility in electric vehicles (EVs), with a projection of 230 million vehicles by 2030. Beyond Protocol is gearing up to capture the market by integrating EVs and EV infrastructure in a decentralised network. This will enable them to self-charge, negotiate prices, and settle transactions. 

So far, the pilot deployment has integrated the Beyond Protocol Wallet (BPW) into EVs and EV charging stations. It is an example of an autonomous decentralised machine-to-machine transaction, as the electric car connects over a secure protocol to a Beyond Protocol-powered charging station which then identifies the vehicle, authenticates it, and transacts based on contract specifications. 

Beyond Protocol was ranked at #963 on CoinMarketCap (23 March), with a market cap of $9.69m and 8.98 million BP coins in circulation. BP stock is traded on  Gate.io, MEXC, and BitMart.

Beyond Protocol news

Before diving into Beyond Protocol (BP) prediction, let’s run an analysis on some of the coin’s ongoing endeavours and headlines to assess how they impact the coin’s momentum. Partnerships and strategic alliances do play a huge role in the coin’s trajectory.  

BTC/USD

64,519.95 Price
-2.150% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.59 Price
-4.720% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

DOGE/USD

0.12 Price
-7.280% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

ETH/USD

3,095.87 Price
-7.890% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

Partnerships with athletes like Tampa Bay Buccaneers tight end Rob Gronkowski is boosting blockchain’s presence in healthcare. Gronkowski is helping Beyond Protocol set up its first transaction of patient health information (PHI) or Connected Athlete demo on the blockchain. Sportsman biometric data can be uploaded and stored in a secure blockchain, where they can sign off to have it released to top physicians and researchers for advancements in sports medicine and potentially prevent sports injuries.

Beyond Protocol powered a EU Commission mobility initiative in November 2021, the deployment of e-bike infrastructure to promote micro mobility in the facilities where EU officials meet.

The coin maker also partnered with Vanderbilt University and Cage the Elephant. The protocol powers biometric wearable technology to measure the brain waves of performers to support mental health. CEO Jonathan Manzi aims to deep dive into the world of Biometrics Technology with these initiatives.

The metaverse is touched upon, with a partnership with Cisco and Heads and Tails at Field of Dreams. Beyond Protocol plans to implement the concept of a digital identity within augmented reality. It requires a reliable means of establishing trust among users and providing verification within that social framework.

Last December, Beyond Protocol announced the listing of its native token on MEXC Global, a cryptocurrency exchange with over 6 million users across 70 countries. In the same month, it entered into a strategic partnership with Huobi to facilitate the venture firm’s understanding of the intricacies of emerging financial markets and the potential of blockchain technology. 

Let’s take a look at the BP price chart: 

Beyond Protocol (BP) price chart

Beyond Protocol forecast: what are analysts saying?

BP crypto price prediction can give us an idea of the coin’s future trajectory. The Beyond Protocol crypto price prediction requires a deep technical analysis and knowledge about the current market and the coin’s fundamentals. While the cryptocurrency market is highly volatile, investors have to keep a close watch on its movement. Let us take a look at some algorithm-based long-term BP coin price predictions.

Wallet Investor, an algorithm and forecast system, provided a bearish outlook for Beyond Protocol at the time of writing (23 March). Analysts suggested that the coin could drop to $0.02. By the end of this year, it could average $0.00445, $0.004096 in 2023, $0.000976 in 2024 and $0.000485 in 2025. Though there is no prediction for 2030, prices can average $0.00124 in 2027. BP coin will not be able to surpass bitcoin anytime soon.

Analysts from Price Prediction were more optimistic in the BP/USD forecast. For the years 2022, 2023, 2024 and 2025, the price was expected to average $0.16, $0.23, $0.33 and $0.47, respectively. In 2027, BP’s target price was set at an average $0.96, potentially climbing to $2.92 by 2030. However, the scope to return to its all-time high value is narrow.

DigitalCoinPrice’s Beyond Protocol coin price prediction saw the token at $0.14 by the end of 2022. Analysts expected the BP value could climb back to $0.26 by 2027 and reach $0.51 in 2030. Between 2023 and 2026 prices could average $0.17, $0.17, $0.22 and $0.20, respectively. 

Before putting money into crypto, investors should be aware that price predictions are based on algorithms that trace past performance to predict the future. The crypto market is highly volatile and predictions may go wrong with gyrations in the market. The blockchain landscape is constantly changing as it is a new financial asset and hasn’t been widely accepted. Always do your own research, looking into recent initiatives that include collaborations, partnership deals and fundamentals before making investment decisions. And never invest more money than you are willing to lose.

FAQs

Is Beyond Protocol a good investment?

At the time of writing, algorithm-based Beyond Protocol predictions had a generally bearish outlook for Beyond Protocol, with analysts from Wallet Investor expecting prices to crash given the current trend. However, only you can decide if a cryptocurrency is right for you, taking into account your attitude to risk and expertise in navigating market gyrations. And remember to never invest money you cannot afford to lose.

How high can Beyond Protocol go?

Price Prediction estimated the BP coin price could climb to $2.92 by 2030, while DigitalCoinPrice expected the coin to touch $0.51 in 2030. These predictions are based on an algorithm and may go wrong.

Can Beyond Protocol (BP) reach $1?

The scope of BP to reach $1 before 2027 is minimum, Wallet Investors expected prices to crash. However, analysts’ forecasts can be wrong and shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest money you cannot afford to lose.

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