DUST Protocol price prediction: A staking crypto for NFTs
09:01, 10 September 2022
The DUST Protocol was founded to bring utility to the non-fungible token (NFT) collection DeGods. But its documentation also hinted to the possibility of integrating with other projects, which appears to be paying off for the cryptocurrency.
Its parent company, Dust Labs, launched its highly anticipated y00ts NFT collection on 6 September 2022. DUST was up 4% over the past 30 days, as of 9 September. But can it maintain this momentum?
What is DUST Protocol?
The DUST Protocol belongs to the NFT project DeGod. This is an “experimental collection” of vibrant coloured profile pictures, which are issued on the Solana (SOL) blockchain.
While its website tries to distant itself from the infamous Bored Ape Yacht Club, the NFTs do bear some resemblance to previous successful projects.
Degods has already seen some success, with several industry figures holding the NFTs, including the co-founders of Solana, Anatoly Yakovenko and Raj Gokal. The project claims that the American rapper Ice Cube owns one of its NFTs.
The DUST utility token
The DeGods collection was designed with utility in mind and the DUST cryptocurrency is the key to unlocking this. Every DeGods NFT can be staked to earn a yield of DUST, a Solana-based token that uses the SPL standard.
Through staking, DeGods holders can earn 2.5 DUST every day. At its current price of $1.68. (as of 9 September), that is a daily rate of $4.20.
However, the project has recently announced an upgrade for DeGods, called DeadGods. Upgrading the original NFT costs 1356.31 DUST. These DeadGods can then be staked for a daily yield of 7.5 DUST.
DUST’s past performance
Dust/USD price chart, all-time performance
Source: CoinMarketCap
The DUST cryptocurrency launched earlier this year at $2.45 on 28 March 2022. It saw an initial climb after the NFTs went live on OpenSea on 6 April. It was also integrated into the Magic Eden NFT marketplace, with users able to purchase tokens with DUST.
DUST rose to its all-time high of $6.20 on 11 April. However, it soon corrected throughout the rest of the month and into May. By 12 May, it fell to its all-time low of $0.82.
It soon rallied again, and the cryptocurrency reached a second peak of $3.64 on 22 May.
As of 9 September, DUST has fallen again and was trading at $1.68. While it has been bullish in the long-term with it up 4% over the past 30 days, it is currently down 43% over the past week.
Recent bullish news
DUST has recently made headlines after the parent company Dust Labs announced, on 6 September, it had raised $7m in seed funding. A total of 14 investors took part, including Solana ventures, FTX ventures and Magic Eden.
We would like to announce that we have raised a strategic round of $7M to build out the $DUST ecosystem.
— Dust Labs (@dust_labs) September 6, 2022
AMA with @frankdegods & our CEO @kevindegods on Thursday, September 8th. pic.twitter.com/VxzdZeu3P0
The company also launched another NFT project under the name y00ts, which was highly anticipated by the NFT community.
Within the first 24 hours, the collection had 6,500 owners. As of 9 September, it has a seven-day trading volume of just under 5,800 SOL, or almost $205,000, according to OpenSea.
DUST protocol price prediction
At the time of writing, there was a divided opinion from forecasters when it came to a DUST price prediction.
DigitalCoinPrice suggested a gradual rise for the cryptocurrency, with its DUST protocol coin price prediction averaging out at $2.24 this year. It predicted a climb to $6.79 in 2025. Its DUST protocol price prediction for 2030 gave a maximum price of $23.80.
Similarly, PricePrediction said the token could reach $2.02 this year. Its DUST protocol price prediction suggested a climb to $6.32 was possible. By the beginning of the next decade, it suggested, DUST might hit $41.30.
CryptoPredictions was more reserved with its forecast. Its DUST protocol coin price prediction expected it to have fallen to $1.50 by the end of this year. However, it suggested DUST might have passed $2 next year and could perhaps reach $3.96 at the end of 2025.
Finally, the DUST protocol price prediction for 2022 from Gov Capital expected the token to become worthless this year. It suggested DUST would have fallen below $1 in October and to $0 on 11 November.
When considering a DUST protocol crypto price prediction, it is 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 DUST protocol a good investment?
DUST protocol is the utility token for the DeGods NFT collection. Holders of the NFTs can earn DUST by staking their tokens. However, the price was down, as of 9 September, by 73% from its all-time high in April 2022, as of 9 September.
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 the DUST token 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. Never invest money that you cannot afford to lose.
Will DUST protocol go up or down?
At the time of writing, forecasters were divided. DigitalCoinPrice expected it to climb past $20 by the next decade, whereas Gov Capital predicted DUST would become worthless this year.
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 DUST 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 DUST protocol?
Dust Labs, the parent company behind the DUST protocol, recently announced $7m in seed funding, along with the launch of its y00ts NFT project. But the token still has lost 73% from its all-time high in April 2022, as of 9 September.
Whether you should invest in DUST 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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