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Phantasma (SOUL) price prediction: What is the coin’s outlook?

By Nicole Willing

Edited by Alexandra Pankratyeva

16:16, 29 December 2021

Phantasma crypto currency digital payment system blockchain concept. Cryptocurrency isolated on earth night lights world map background. Vector illustration
Phantasma (SOUL) price prediction: What is the coin’s outlook? – Photo: Shutterstock

The SOUL coin for the Phantasma blockchain protocol has been trending higher in the past two weeks, with the SOUL/USD price bottoming out after dropping from its all-time high of $3.97 reached on 1 December.

Phantasma focuses on deploying multiple side chains to enable the transaction scalability needed to run games and other artistic content including non-fungible tokens (NFTs) on blockchain technology.

What is Phantasma crypto and what is the outlook for the SOUL token price in the future? In this article we look at how Phantasma works and what factors are shapung Phantasma price prediction. phantasma price prediction

Phantasma launches infinite blockchain protocol

Phantasma was co-founded by Sérgio Flores, a senior developer and consultant on blockchains and smart contracts. The main network launched in October 2019 and Phantasma 2.0 was released in December 2020 with a revised NFT standard.

Phantasma aims to enable interoperability with other blockchains while maintaining decentralised governance. It uses a staking mechanism and dual token system to give users access to different digital goods and services across communication, entertainment, marketplaces and storage.

The Phantasma blockchain enables developers to deploy infinite side chains. Each decentralised app (dApp) can run on an independent side chain, reducing the risk that a problem with a single dApp could disrupt the entire network.

Phantasma can validate 10,000 transactions per block, according to the project whitepaper, which states that “the maximum block size may be changed in the future to improve network performance. This capacity not only applies to the main chain, but also to every single side chain, which means that every side chain will be able to achieve the same maximum [transactions per second] TPS independently from both the main chain and all the other side chains.” 

There are two Phantasma cryptocurrency tokens: SOUL and KCAL. SOUL is the Phantasma token used for governance while Phantasma Energy (KCAL) is used to power transactions. There is an initial maximum supply of 94m SOUL tokens. The staking functionality of SOUL permits users and developers to access network resources and choose the network’s validators.

Phantasma has introduced an inflationary element to SOUL supply to incentivise developers to use the network. SOUL has an annual inflation rate of 3% plus 125,000 SOUL distributed monthly to eligible holders. The 3% will be allocated in thirds to network validators, developers and ecosystem incentives.

SOUL holders who stake their tokens immediately begin receiving KCAL tokens as rewards. The Phantasma blockchain allows holders to allocate staking rewards to other Phantasma addresses, which means holders can stake SOUL on behalf of family and friends, introducing new users to the ecosystem.

Holders who stake more than 50,000 SOUL are given the title of Soul Master, earning extra tokens from a reward pool of 125,000 SOUL every month. Soul Masters who stake at least 50,000 SOUL continuously receive a CROWN NFT every 90 days, which contains a share of the total KCAL fees from the previous 90 days and a portion of the 20% of the ecosystem incentive, which is distributed equally. More than 57% of SOUL tokens have been staked, according to the Phantasma website.

The Phantasma 2.0 upgrade in December 2021 launched Smart NFTs, which are composite NFTs made up of an unlimited number of tokens. For example, in the 22 Racing Series each hypercar is made up of 20-30 individual NFTs representing individual car parts. Smart NFTs are programmable and multi-layered. They can be time-limited, minted on demand, nested with multiple assets and contain locked content.

The SOUL price has made gains as NFTs have taken off in popularity and increased the use of the Phantasma protocol. Phantasma aims to have its Smart NFTs and blockchain technology play a role in the buildout of metaverse applications.

Phantasna gaming blockchain

Phantasma (SOUL) price analysis

The Phantasma coin chart shows that SOUL initially traded at $0.5668 when it launched in May 2018. The price slid below $0.10 in July 2018 and largely remained below that level until mid-August 2020, when it moved up to $0.1692. SOUL slipped back below $0.10 at the end of September 2020 until January 2021, when the price began to rise as the cryptocurrency markets rallied.

BTC/USD

67,029.15 Price
-0.590% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

Gold

2,401.36 Price
-1.830% 1D Chg, %
Long position overnight fee -0.0198%
Short position overnight fee 0.0116%
Overnight fee time 21:00 (UTC)
Spread 1.20

XRP/USD

0.59 Price
-1.640% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,506.23 Price
-0.580% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

The price peaked at $0.8593 on 6 April as seen on the chart below, then fell to the $0.13 level in June and July as the broader markets collapsed in price from May and bottomed out in July. SOUL joined the summer crypto rally, reaching $0.95 on 3 October. After retreating to $0.5597 on 18 October SOUL rallied to reach a new high of $3.97 on 1 December. SOUL then retreated to a low of $1.91 and traded up to $2.43 on 28 December.

Can SOUL return to its former highs or is there potential for further downside?

Phantasna all-time performance

Phantasma (SOUL) price prediction: What do the latest forecasts show?

Technical Phantasma price analysis from CoinCodex at the time of writing on 29 December was neutral. There were 13 indicators giving bullish signals and 13 bearish signals. 

The three-day to ten-day simple moving averages (SMAs) and exponential moving averages (EMAs) were giving sell signals while the 100-day to 200-day averages were bullish. The weekly SMAs and EMAs were also bullish.

The volume-weighted moving average (VWMA) was also bullish, while Hull moving average gave a sell signal. The stochastic fast, relative strength index (RSI) and average directional index remained neutral.

CoinCodex predicted that the Phantasma coin value could rise by 12.79% to $2.69 by 3 January.

The Phantasma coin price prediction from WalletInvestor (as of 29 December) was bullish on the long-term outlook for the SOUL price, projecting that it could reach $3.786 by the end of 2022 and $5.211 by the end of 2023. The algorithm-based forecasting site predicted that the price could reach $8.047 by the end of 2025.

DigitalCoin had a moderate long-term Phantasma (SOUL) crypto price prediction, estimating that it will average $3.76 in 2022 and $4.61 in 2025, rising to $10 by 2028, based on historical data.

PricePrediction’s SOUL coin price forecast was the most bullish, estimating that the price will average $3.68 in 2022 and reach $11.84 in 2025, rallying to $75.96 by 2030.

It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’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 SOUL price predictions wrong.

We recommend that you always do your own research, and consider the latest  phantasma crypto news, market trends, 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 invest more than you can afford to lose.

FAQs

Is the phantasma coin a good investment?

Whether SOUL is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk, highly volatile assets and Phantasma predictions shouldn't be used as a substitue for your own research. Evaluate the level of risk you are prepared to accept before investing, and never invest money you cannot afford to lose.

Can the phantasma coin reach $10?

Based on PricePrediction’s SOUL predictions as of 29 December, SOUL coin could reach the $10 level in the coming years, hitting $11.84 in 2025.

How high can Phantasma crypto go?

Predictions for the future SOUL coin price ranged as of 29 December from $10 in 2028 based on DigitalCoin data to $75.96 by 2030 based on PricePrediction’s forecast.

Read more: Oasis Network (ROSE) price prediction: Is the coin a buy?

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