Hathor (HTR) coin price prediction: can low fees raise prices?
Alternative network for scalable and decentralised transactions Hathor’s (HTR) utility coin prices fell over the past two months after its listing on cryptocurrency trading platform Gate.io.
HTR listed on Gate.io on 22 December 2021 after receiving over 20 million votes from the project’s community members. The cryptocurrency aims to be an easy-to-use and cheap blockchain network, where users do not need technical knowledge to issue tokens and carry out transactions on the network.
The Hathor Network coin price fell to $0.5335 on 23 February 2022, down 22% from $0.6823 on 1 February. The Hathor token price is also down 36% compared to a year ago.
HTR coin price hit an all-time high at $2.3185 on 20 November 2021, but dropped the month after. Although prices climbed briefly above $2 in early January, the uptrend was halted and the HTR coin value tumbled the following month.
Are you interested in learning more about HTR cryptocurrency and Hathor coin market development? Read this price analysis for the latest HTR coin news and analysts’ Hathor price prediction.
What is Hathor (HTR) coin?
The Hathor Network is an alternative to the Bitcoin blockchain. The network’s novel architecture is based on the PhD thesis of its founder and CEO Marcelo Brogliato. The Hathor Network is a hybrid of directed acyclic graph (DAG) and blockchain technology. Unlike blockchain, Brogliato claims this hybrid approach will enable the network to scale and process transactions quickly and cheaply.
According to Hathor’s executive summary, the network “is the direct result of over seven years of academic research from its founding members throughout which they have been stress-testing its assumptions and alpha versions”. The network was launched on testnet in May 2019 and migrated to the mainnet on 3 January 2020.
As a result of the network architecture, transactions on the network are free, which contrasts with the Bitcoin or Ethereum networks, where transactions incur a high ‘gas’ fee.
Hathor coin (HTR) is the native token for the network, and it is used in the following use cases:
The network is based on Proof-of-Work (PoW) protocol and miners/validators are required to solve the same Bitcoin algorithms using computation power (hash).
HTR token supply and distribution
Hathor has no fixed supply as the cryptocurrency is inflationary based. According to Hathor’s data on 24 February, the total HTR token supply was at 903.1 million with 227 million HTR tokens in circulation. Hathor has said that:
According to Hathor, one billion pre-mined tokens were created on 3 January 2020, but “these tokens are subject to the burn, vault, and lock schedule”.
The project was initially funded by a private investment (seed sale) from family and friends, and 5% of the one billion pre-mined tokens were allocated for this group of investors.
The majority of the pre-mined tokens are reserved for the network treasury and ecosystem, this is “to support the development of the Hathor ecosystem, its community and use cases”.
The co-founding team members will receive 10% of the pre-mined tokens or 100 million HTR coins in December 2024, six and a half years after the project started.
Hathor has also allocated 130 million tokens for sale to the public, and 50 million HTR coins were sold to very early investors in the first quarter of 2019. 20 million tokens will remain locked for future sales after January 2023.
To incentivise miners of HTR tokens and keep the network secure, each block gives 64 HTR as a reward. However, the size of the reward will be halved according to the project’s schedule. The reward will continue to halve each year until it reaches 8 HTR per block after January 2023.
In addition to mining, buyers can buy the token on exchanges such as KuCoin, Gate.io, AscendEX (Bitmax), CoinEx and CoinMetro.
Token and project governance
Founder Brogliato believes that the Hathor project’s governance will be more distributed compared to Bitcoin. “In Bitcoin, users have less bargaining power than miners because they do not contribute with work, whereas, in Hathor, both miners and users are working together. So, when it comes to changing the rules, the bargaining power is more distributed than in Bitcoin,” said Hathor in its whitepaper.
Main features of Hathor Network
According to Hathor, users “can create [their] own digital token with customised specifications on Hathor Network with only one click”. These custom tokens “will work independently of the price of 1 HTR and they can serve multiple purposes: financial participation in a company (‘stock’), mileage or loyalty points of a specific store or network, votes, ownership of digital goods such as website domains”.
This feature will enable non-developers to access the network and could encourage more projects to build on Hathor.
Nano contracts are another feature of Hathor network, which is a simplified version of smart contracts.
Project risk profile
According to cryptocurrency research and data site IsThisCoinAScam, the Hathor project has a safety score of 5.01, data on 23 February 2022 shows. According to the site, Hathor scored more than 7/10 on sentiment and community, while its development was awarded 5.4/10. The other metrics (awareness, credibility and volume) were awarded below five. The score is based on the site’s research on social media platforms such as Reddit and Twitter.
IsThisCoinAScam states that HTR coin “is suited to an adventurous investment style” as the token was launched in January 2020 and remained in an early stage, hence some of the project targets may not materialise.
Could Hathor become popular?
Despite the risk of early-stage cryptocurrency projects, some believe Hathor’s scalable and easy-to-use blockchain could become popular and potentially be a good investment. In an article on Teckers, Henry Appah wrote:
HTR price forecast
In its Hathor coin price prediction, Tech News Leader expected that the HTR/USD rate could rise in the next few years, reaching new highs by 2026. The data provider expected the token price could climb up to $0.61 in 2022, and the price uptrend could continue, reaching $0.95 in 2023 and $1.43 in 2024. By 2025, HTR coin was expected to exceed $2, reaching $2.06, and continue to rise to $2.85 in 2026, $4.11 in 2027, $5.74 in 2028, $8.50 in 2029 and $12.24 in 2030.
Price Prediction’s HTR price prediction was relatively bullish in the next eight years. The service estimated the token could exceed $2 in its HTR coin price prediction 2025. Its Hathor prediction suggested the average HTR coin price could be $0.60 in 2022, $0.85 in 2023, $1.19 in 2024, $1.65 in 2025, $2.35 in 2026, $3.44 in 2027, $4.86 in 2028, $6.99 in 2029 and $9.58 in 2030.
According to Wallet Investor's HTR prediction, Hathor coin price could rise to $1.38 in the next 12 months, and possibly reach $4.419 in five years’ time.
While making Hathor crypto price predictions investors should remember that the market is volatile. HTR crypto price predictions are based on inferences drawn from the past performance by analysts and may go wrong, due to market gyrations, change in policies and unknown parameters. Investors should also consider the token’s collaborations, partnership deals and fundamentals before relying completely on the predictions.
You should do research and base your decision to buy cryptocurrencies on your tolerance to risk. Investors should gauge how comfortable they are about losing money, as you should never invest money that you cannot afford to lose.
FAQs
Is Hathor a good investment?
Whether Hathor is a good investment or not will depend on your investment goal, portfolio composition and risk profile, among other factors.
How many Hathor tokens are there?
Hathor has no fixed supply as the cryptocurrency is inflationary based. According to Hathor’s data on 24 February, the total HTR token supply was at 903.1 million with 227 million HTR tokens in circulation.
How high can HTR coin go?
Analysts at Price Prediction predicted HTR coin prices could reach $14.76 by 2030, while Tech News Leader’s forecast was lower at $12.24 in 2030. However, analysts' forecasts can be wrong and have been inaccurate in the past.
Cryptocurrency is an extremely high-risk investment and capital will be at risk, you should do your own research and never invest what you cannot afford to lose.
Can Hathor (HTR) reach $3?
Price Prediction predicted Hathor token price could reach $3 by 2026. Tech News Leader and Wallet Investor’s forecast predicted the token could exceed $3 by 2027. However, analysts’ forecasts can be wrong and have been inaccurate in the past.
What does Hathor crypto do?
Hathor crypto is a native utility coin used to facilitate transactions on the Hathor Network. It is used as a reward for mining and staking.
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