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Rari Governance Token price prediction: RGT has surged again

By Capital.com Research Team

13:46, 2 August 2022

Rari Governance Token price prediction: RGT has surged again Blockchain technology is a futuristic hud background with a global globe and a peer-to-peer blockchain polygon.
Blockchain technology is a futuristic hud background with a global globe and a peer-to-peer blockchain polygon. Photo: Visual Generation / Shutterstock.com

Rari Capital is on a mission to save investors from the traditional finance pitfalls. Its website says: “Rari Capital empowers individuals to break free by creating new opportunities, communities and financial products.”

This is made possible by the protocol’s native token, RGT. Investors are able to vote on new borrowing pools and allocations of the protocol’s funds.

As of 2 August 2022, RGT has been rallying, demonstrating a 93% increase on the previous seven days, which comes after the US Securities and Exchange Commission (SEC) recognised the cryptocurrency as a security asset.

What is Rari Capital?

Like most decentralised finance (DeFi) protocols, Rari Capital was built around lending and borrowing digital assets. It is giving investors a chance to earn yield with their assets, while providing accessible funds to those looking to borrow.

The crypto research publication Messari says:

“The project provides protocols that allow its users to earn interest from lending pools and to autonomously aggregate yield. It has since been evolving and is looking to provide more exotic use cases to the protocol, like idea markets.”

After launching in 2020 , Rari Capital expanded into other products. These include an open interest rate protocol called Fuse and a product that gives investors a chance to rebalance between stablecoins.

Rari was formed by a group of American entrepreneurs, including Jack Lipstone, Jai Bhavnani and David Lucid. They came together with a shared philosophy to provide a safe and accessible entry into the world of DeFi.

The decentralised process 

Rari Capital is managed by a decentralised autonomous organisation (DAO). This is made up of independent teams called taskforces that manage certain resources. There are three different taskforces, which are an infrastructure-focused group, a front-end development team and a generalised application group.

The RGT token is essential to the DAO’s operation. Holders can make their own proposals, whether that’s on fund allocations or to add new liquidity pools. Investors will also gain a chance to vote on these decisions.

RGT’s past performance

RGT price chart

Source: CoinMarketCap 

On 5 December 2020, RGT opened on CoinMarketCap at $0.63 and the cryptocurrency saw a static first few months. However, it started climbing in February 2021, peaking at $17.35 on 13 February, as a new upgrade was implemented to its security layer, mStable, and Rari Capital offered a uniquely high annual percentage yield of about 50%.

 

BTC/USD

64,649.30 Price
-2.190% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

DOGE/USD

0.12 Price
-6.700% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

XRP/USD

0.61 Price
-3.240% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

SOL/USD

168.54 Price
-6.970% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

It continued climbing throughout the beginning of spring and rocketed to a high of $26.24 on 16 April. This was after a new Fuse pool was added by the Ren protocol. The pool included ETH, USDC, DAI, renBTC, and renFIL. From there, RGT fell away and traded between $4 and $8 in June and July.

By mid-July, it was on the ascent and the Rari Governance Token price was able to climb even higher later that year. The protocol managed to surpass $1bn in total value locked (TVL) on 14 October – the same day it surged to a peak of $51.35.

This momentum stuck with the cryptocurrency into the following month. RGT reached its all-time high of $68.21 on 6 November. But along with the wider cryptocurrency market, it plummeted afterwards from late 2021 and on into 2022. 

Its bearish trend was not helped by the fact Rari Capital was hit by an attack that stole more than $80m in funds from the Fei Protocol pool. As this occurred in late April, the token dropped close to around $13 and its TVL eventually slumped under $1bn.

RGT soon fell below $5 towards the end of June. But it has recently been rallying as the token was one of nine cryptocurrencies that is now considered a security by the SEC.

As of 2 August 2022, RGT was trading at $9.76 and was up 93% on the previous seven-day period.

Rari Governance Token price prediction

The governance token’s recent rally has led to some optimistic RGT price predictions. At the time of writing, TechNewsLeader said it might “go as high as $13.65” in a year and $37.99 in five years’ time. Its Rari Governance Token price prediction for 2030 has suggested an optimistic price record of $175.97.

Similarly, PricePrediction estimated the cryptocurrency could have reached $9.89 in 2022. An average value of $30.32 was given for the Rari Governance Token price prediction in 2025. This was predicted to have risen further to $269.08 in 2031.

The CaptainAltcoin Rari Governance Token price prediction for 2022 suggested it could have dropped to $3.80 in December. However, it suggested it could have surged to $9.02 in five years’ time and $23.36 in 2030. The RGT coin price prediction for 2040 said it may have achieved $46.73 by that year.

Finally, DigitalCoinPrice said the token may have averaged $12.85  this year and $18.57 in 2025. By the next decade, it suggested the RGT crypto price prediction might have reached $45.05 in 2030 and $50.73 in 2031.

When considering a RGT 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

What is Rari Capital?

Rari Capital is a decentralised finance (DeFi) protocol that is giving users an accessible path to borrow funds and a place to earn an annual percentage yield by lending.

What is Rari Governance Token?

The Rari Governance Token was designed to decentralise the process of borrowing and lending. Holders can put forward proposals for new liquidity pools and other ideas for the protocol.

How many RGT tokens are there?

As of 2 August 2022, there was a circulating supply of just more than 12.4 million RGT, according to CoinMarketCap.

Is Rari Governance Token a good investment?

RGT was not designed as a speculative instrument – instead, it was created to decentralise the process of borrowing and lending. Therefore, investors should carry out thorough due diligence before purchasing, especially as RGT has proved volatile. 

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 Rari Governance 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.

 

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