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Quantstamp price prediction: What is quantstamp (QSP)?

15:32, 17 August 2022

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Quantstamp (QSP) cryptocurrency website displayed on smartphone
Can Quantstamp make smart contracts safer? – Photo: Piotr Swat / Shutterstock

It wants to make smart contracts safe, but what is quantstamp (QSP)? Let’s see if we can answer that question, and take a look at some of the quantstamp price predictions that were doing the rounds on 17 August 2022, too. 

Quantstamp explained

In terms of the way in which cryptocurrencies work, one of the most crucial developments is that of smart contracts. These computer programs and applications, which execute when certain conditions are met, are key to a lot of the network operations of blockchain technology

A smart contract can help platforms and systems operate quicker, thus saving users time and, perhaps more importantly, money. They also allow the people involved to remain anonymous, which is a core principle of blockchain ideology. 

That said, smart contracts come with their own range of potential issues. For instance, it can be hard to tell sometimes how legitimate a smart contract is and whether it can serve both sides of an agreement or whether it will operate in the way that it is meant to. Since smart contracts are computing programs, that also means that they are vulnerable to hacks and attacks.

One potential solution to this problem comes in the form of the Quantstamp platform. The system and the organisation behind it is designed to audit all the smart contracts in a particular blockchain protocol. There are, in effect, two parts behind this system, with an automated verification system going through the smart contracts to find any weaknesses, with that work double-checked by people who are paid rewards when they find issues with the smart contracts. 

As the whitepaper says: 

“There is a clear and urgent need for more secure code. Vulnerabilities in smart contracts threaten the adoption of blockchain technology and cryptocurrencies. Without security of smart contracts, it’s hard for people to trust them with anything other than risk capital. Our vision for the future is that smart contracts will be mainstream applications used by people to make their everyday lives easier.”

Every blockchain-based system needs to have its own native token, and Quanstamp has the conveniently-named quantstamp token, also known by its ticker QSP. This token is designed to pay out the rewards mentioned earlier, as well as paying people who put their software or who operate computers, known as nodes, on the network. People and organisations who want to have their smart contracts verified pay in QSP.

One important thing to note here is that because QSP is based on the Ethereum blockchain, it is a token rather than a coin. While you might see references to such things as the QSP coin price or a quantstamp coin price prediction, technically speaking these are wrong. 

Quantstamp was founded in 2017 by trader Richard Ma and programmer Steven Stewart. Ma, who serves as the organisation’s CEO, heads up a team of 46 people. Although Quantstamp is a remote-first company, its headquarters are in San Francisco and it also has offices in Munich, Toronto, Taipei and Seoul. 

Quantstamp price history

QSP price history chart from launch to present

QSP price history chart from launch to present

Source: Capital.com

It’s now time to examine the QSP price history. While past performance should never be taken as an indicator of future results, knowing how the token has behaved in the past can be very useful when it comes to making or interpreting a quantstamp price prediction.

When quantstamp came onto the open market in November 2017, it opened at $0.06815 before trading at about $0.16. Although its price initially dipped to touch $0.10, things soon kicked off, as the crypto bubble of late 2017 and early 2018 saw the token reach an all-time high of $0.8664 on 8 January 2018. 

After this, though, the bubble burst and the market went through the so-called crypto winter, with QSP sinking to an all-time low of $0.004076 on 13 March 2020, as markets across the board had to deal with uncertainty caused by the impact of the Covid-19 pandemic. 

US100

11,480.90 Price
-0.780% 1D Chg, %
Long position overnight fee -0.0138%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 1.5

BTC/USD

20,123.75 Price
-1.260% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 60.00

XRP/USD

0.48 Price
+0.160% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

Gold

1,706.39 Price
-1.000% 1D Chg, %
Long position overnight fee -0.0157%
Short position overnight fee 0.0056%
Overnight fee time 21:00 (UTC)
Spread 0.18

It was in early 2021 that things really started to pick up for QSP. At this time, the market entered a bullish phase, triggered, at least in part, by Covid-19 stimulus cheques being spent on crypto investments. Quantstamp was one of many tokens to get a boost, reaching highs of more than $0.10 in March and April 2021, something that had not been seen since the middle of 2018. 

After that, though, the market fell down. There was some recovery in August, as the market picked up and more and more people became interested in non-fungible tokens (NFTs). However, it was small change in comparison to the levels the token had enjoyed previously and, by the end of 2021, QSP closed the year at $0.03944.

If 2021 was to be considered a positive year for QSP and crypto, things have not been so good in 2022 so far. While the news that QSP was to be listed on the Coinbase (COIN) exchange saw the token shoot up to $0.1112 on 4 February, there was then a decline to $0.04026 on 24 February in the wake of Russia’s invasion of Ukraine.

Nearly a month later, a price surge meant that the token reached a high of $0.1043 on 23 March, but it was downhill from there. Things got really bad in May, when the news that the UST stablecoin had become depegged, causing the associated LUNA cryptocurrency to collapse, saw QSP drop to a daily low of $0.02317 on 12 May. 

Any hopes for a long-term recovery were put on hold when the cancellation of withdrawals on the crypto lending platform Celsius Nework confirmed that crypto was in a bear market, with QSP falling to $0.01839 on 19 June.

By 15 August, QSP was trading at a low of $0.01406, but the following day it shot up to a high of $0.02482. As of 17 August 2022, quantstamp was trading at about $0.028. At that time there were a little over 713.8 million QSP in circulation out of a total supply of 976,442,388. This gave it a market cap of around $20.2m, making it the 661st largest crypto by that metric. 

Quantstamp price predictions

With that all out of the way, let’s take a look at some of the quantstamp price predictions that could be found on 17 August 2022. It is important to remember price forecasts, especially when it comes to something as potentially volatile as a cryptocurrency, are very often wrong. Also, long-term crypto price predictions are often made using an algorithm, which means that they can change at any time.

First, CoinsKid made a quantstamp price prediction for 2022 of $0.0322 in December that year. By August 2023, QSP could be valued at $0.0381 and possibly $0.0467 12 months on. In August 2025, the token could be valued at $0.0718. By the end of that year, the prediction said that QSP could, potentially, have been trading at about $0.0886.

Next, TechNewsLeader offered a QSP price prediction of $0.044 for 2022. In 2023, the site said quantstamp could have reached $0.062, $0.092 by 2024 and $0.13 in 2025. The following year saw a QSP forecast of $0.17, before it may have achieved $0.23 in 2027 and $0.35 in 2028. The site went on and said quantstamp could have closed the decade at $0.54, before making a quantstamp price prediction for 2030 that could have been $0.78 that year and $1.13 in 2031. 

Meanwhile, CryptoGround made a potential quantstamp crypto price prediction of $0.0287 in February 2023 and $0.0336 in August next year. The site argued QSP may have traded at $0.0632 at some point in 2024, followed by a quantstamp price prediction for 2025 of $0.1324. By August 2027, the site said, QSP could be priced at $0.4746. 

Finally, Gov Capital was rather more bearish when it came to making a quantstamp token price prediction. The site said that, while QSP could have risen to $0.0254 on 3 September, that was as good as things could got. The prediction suggested the token might have dropped below the cent level in late October, before it became all but worthless by 11 December. Any hopes of a recovery were, the site argued, fruitless as the one year price it predicted for QSP was $0, meaning it would become a de facto dead coin. 

When considering a QSP token price prediction, it’s 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

How many quantstamp are there?

On 17 August 2022, there were a little over 713.8 million QSP in circulation out of a total supply of 976,442,388.

Is quantstamp a good investment?

Whether or not QSP is a good investment will depend, at least in part, on whether it can secure its status as a major player in smart contract audits and, perhaps more importantly, how well the crypto market can do overall in the coming months and years. These are things that we do not know for sure at this stage. 

Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets. So investors should be prepared to make losses and never purchase more than they can afford to lose.

Will quantstamp go up?

It is always hard to tell when it comes to a crypto whether or not it will go up, and QSP is no exception. While the likes of TechNewsLeader were optimistic at the time of writing, Gov Capital was very gloomy in its outlook. The other thing to note here is that price forecasts very often get things wrong. 

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 QSP 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. And never invest money that you cannot afford to lose.

Should I invest in quanstamp?

This 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.

Further reading:

 

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