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JUNO price prediction: Potential rally forecast for JUNO

13:34, 8 August 2022

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The JUNO logo on a black coin
Juno crypto currency themed banner. Juno icon on modern black color background. Photo: WindAwake / Shutterstock.com

Smart contracts are the foundations behind any application on blockchains, whether it is an exchange or decentralised autonomous organisation (DAO). JUNO was created to make  developing contracts on the Cosmos network easier and more accessible.

While its ecosystem is bustling with numerous apps, its token has been struggling in recent months after a malicious attack on the network. 

What is JUNO?

Juno is a network that is giving developers the opportunity to build smart contracts, the code behind decentralised applications such as exchanges and other infrastructure. This is all taking place on the Cosmos ecosystem, an interoperable platform that describes itself as the “internet of blockchains”.

Its documentation says:

“Juno is a global, open source, permission-less network for decentralized interoperable applications. Anyone can create & use inter-chain applications on Juno.”

Part of Juno’s appeal is its unique technology. It has created “CosmWasm”, a piece of software that lets developers code in the Rust programming language and allows applications to communicate with each other.

After launching in October 2021, the project has already bloomed into a bustling ecosystem. There are a range of projects such as the Arto DAO, a democratic organisation for art collectors, or the price chart platform Coinhall.  A developer has even created a CosmWasm contract for playing chess.

Juno’s utility and governance token

Accompanying the network is Juno’s own utility token, which was created to try to cover use cases in mind. It acts as a currency for financing gas fees and smart contract usage.

It is also a governance token that allows holders to vote on the management of the Juno network. Voters can have a say on various decisions, such as liquidity, security and improving the commission rate for network validators.

Volatile price history

JUNO price chart

Source: CoinMarketCap

After the token went live at $10.33 on 22 November 2021, it fluctuated around this level for the rest of the year. 

JUNO started rallying in January 2022 as a governance vote went live. Once the proposal was passed on 20 January, it adjusted the yearly block rate on the network to ensure a 124% annual percentage rate was provided to delegators. The same day, the token surged above $20 for the first time.

Gold

1,706.01 Price
-1.140% 1D Chg, %
Long position overnight fee -0.0157%
Short position overnight fee 0.0056%
Overnight fee time 21:00 (UTC)
Spread 0.20

Oil - Crude

86.17 Price
+0.280% 1D Chg, %
Long position overnight fee 0.0236%
Short position overnight fee -0.0430%
Overnight fee time 21:00 (UTC)
Spread 0.03

XRP/USD

0.48 Price
+0.120% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

US100

11,480.30 Price
-0.880% 1D Chg, %
Long position overnight fee -0.0138%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 1.5

It continued this momentum into the following month and passed $30 in the first week of February. This was when a new pool with NETA went live on Junoswap.

JUNO rocketed to its all-time high of $45.89 on 4 March. The project was running an ecosystem-wide event that month, which was encouraging developers to build on the network. A prize pool of over $7m worth of JUNO was up for grabs.

But the network was soon hit by a flurry of controversies. A whale was found hogging 3.1m JUNO tokens and the community controversially voted to shrink this down to 50,000.

JUNO was then struck by a crash in April that was allegedly down to a malicious attack. The attacker had disguised his programme as a “hello world” piece of code. Just weeks later, a typo from Juno developers sent tokens worth $36m to an inaccessible wallet. 

The token’s price did not fare well during these crises, dropping to its all-time low of $2.12 on 18 June. JUNO has recovered slightly since then and as of 8 August was trading at $5.76.

JUNO price prediction

While most JUNO coin price predictions were bullish at the time of writing, the rate of its potential success was debated. DigitalCoinPrice said the cryptocurrency could average out at $7.58 this year and $11.10 in 2025. Its JUNO price prediction for 2030 was $26.62. 

A similar JUNO crypto price prediction was given by AMB Crypto. It suggested the token would rise from $9.98 this year to $11.53 in 2025. By the next decade, JUNO was thought to reach $38.11.

PricePrediction suggested JUNO could rise to $6.80 by the end of this year. Its JUNO price prediction for 2025 expected it to pass $20 in October and surge to $100 in August 2029. The optimistic forecast has said it would reach $200 in 2031. 

Meanwhile, CaptainAltcoin’s JUNO price prediction for 2022 said it would dip before climbing. It expected the token to fall to $3.40 in October this year, before rising to $12.79 in 2025. The forecaster anticipated JUNO to pass $30 in 2030. 

When considering a JUNO token price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to predict accurately what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. 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. Never trade with money that you cannot afford to lose.

FAQs

How many JUNO coins are there?

On 8 August 2022, there was a circulating supply of 56 million JUNO.

Is JUNO a good investment?

After reaching its all-time high in March, JUNO was hit by numerous scandals, including a typo by developers that saw $36m of funds made inaccessible.

In volatile cryptocurrency markets, it is important to do your own research to determine if the token is a good fit for your investment portfolio. Whether JUNO is a suitable investment for you depends on your risk tolerance, portfolio size, timeframe and goals, and your experience in cryptocurrency markets. Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.

Will JUNO go up?

At the time of writing, some forecasters, such as DigitalCoinPrice, suggested JUNO could continue rallying over the coming years. But CaptainAltcoin said it expected the coin to fall, before it could rise again.

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 JUNO 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 JUNO?

JUNO was designed to be a utility and governance token for its smart contract platform, rather than a speculative instrument. The token is used to pay for gas fees and vote on key decisions.

Whether it is the right asset to invest in 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.

Further reading:

 

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