RIF token price prediction: What is RSK Infrastructure Framework (RIF)?
09:46, 28 July 2022
The RSK Infrastructure Framework aims to make the Bitcoin (BTC/USD) blockchain a bit more versatile in terms of what it does. In terms of crypto, however, what is RSK Infrastructure Framework (RIF)?
Let’s see what we can find out, and take a look at the RSK Infrastructure Framework price prediction, too.
RSK Infrastructure Framework explained
When it comes to cryptocurrency, it is pretty hard to argue that Bitcoin is not the biggest dog in the yard. Not only is it comfortably the largest crypto by market cap, it is also the original cryptocurrency. In fact, it dominates the crypto market and blockchain technology to such an extent that any cryptocurrency that runs on its own blockchain is called an altcoin – which means its defining characteristic is that it is not BTC.
One key aspect about Bitcoin – and potentially the ultimate reason why so many altcoins exist in the first place – is that it does not do much in the grand scheme of things. Both the crypto and its blockchain are pretty much focused on one thing, which is that Bitcoin can be used as a store of value. This means that it is rather different to systems like, for instance, Ethereum, which can host decentralised applications (DApps) and make use of things like smart contracts – which are computer programs that automatically execute when certain conditions are met.
With the size and power that the Bitcoin crypto and the Bitcoin blockchain have, it is not hard to see why some crypto enthusiasts might wonder what would happen if the blockchain had more usage cases. One particular system that offers users the chance to do extra things with the Bitcoin system is the RSK Infrastructure Framework.
The RSK Infrastructure Framework is a system that operates as a de facto extra layer on top of the Bitcoin blockchain. The idea is to create a range of places within an ecosystem that are linked to, but not necessarily part of, Bitcoin. Features in the RSK Infrastructure Framework include a marketplace selling various services, including wallet domains and data storage, as well as a scalable payment provider, a series of secure communications channels and digital identity services.
Since RSK Infrastructure Framework is a blockchain-based system, it is perhaps inevitable that it has its own token. This token is known by the full name of RSK Infrastructure Framework or by its ticker handle, RIF, which is short for Root Infrastructure Framework. The token is used as a utility token, which means that it is used to pay for services on the system.
The other thing worth noting is that there is another token on the layer, called RBTC, which is used to pay for transaction fees and is pegged to the price of Bitcoin.
As the RSK Infrastructure Framework whitepaper says: “The RSK Smart Protocol is based on a two-way peg smart layer that runs on top of the Bitcoin Network.”
The RSK Infrastructure Framework was founded by Argentinian crypto entrepreneur Diego Gutiérrez Zaldivar in 2015, although the RIF token did not start being openly traded for another four years or so.
RSK Infrastructure Framework price history
Now, let’s quickly examine the RIF price history. While looking for an indication of future results by exploring past performance would be a mistake, it can be useful to examine the past behaviour of a token when it comes to either interpreting an RSK Infrastructure Framework price prediction or making one of our own.
RIF price history chart
Source: Coinmarketcap.com
RIF has been on the open market since January 2019, when it was worth about $0.20. The price soon fell to around $0.10, and the price hovered around this point for the next couple of years or so, as the market went through a so-called crypto winter, with slow, low prices being the distinguishing feature pretty much across the board. The worst of this time came on 13 March 2020, when the world was hit by a series of lockdowns in response to the Covid-19 pandemic and RIF sank to an all-time low of $0.02736.
Things started to change in early 2021. It was at this time that cryptocurrency went through a real boom period, and RIF responded in kind, reaching its all-time high of $0.4591 on 12 April. There was downhill movement, and the small steps became big strides after the Great Crypto Day Crash on 19 May 2021, with the token joining most of the rest of the crypto market in the doldrums, trading below $0.20 for much of June and July.
Things started to pick up in August, as a growing interest in non-fungible tokens (NFTs) caused a return to crypto investment and RIF’s price went up, reaching a high of $0.273 on 5 September. There was a fallback after that but, in early November, the market was boosted as Bitcoin hit record highs and, on 10 November, RIF reached a periodic high of $0.3077. After that, though, the market contracted due to fears about the Covid-19 Omicron variant and RIF closed the year at $0.1987.
In 2022, things have been pretty bad for the crypto market and RIF has not exactly outshined the general gloom. While there was a high of $0.2074 on 3 January, it was pretty much all downhill from there, with events like Russia’s invasion of Ukraine on 24 February and China’s April crypto ban having an impact.
The token was barely breaking $0.10 in May when disaster struck. The depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency left the market in turmoil, and on 12 May, RIF sunk to $0.08556. Although there was some small recovery after this, the cancellation of withdrawals on the Celsius crypto lending platform confirmed that crypto was in a bear market and on 4 July it dropped to $0.04854.
After that, though, there was a recovery and the token even spiked to $0.1474 on 18 July, but by 27 July, the RSK Infrastructure Framework token price had settled down and was trading at about $0.08021. At that time, there were a little under 851 million RIF in circulation out of a total supply of one billion. This gave the token a market cap of about $68m, making it the 310th largest crypto by that metric.
RSK Infrastructure Framework price prediction
With that all said and done with, let’s take a look at what the RSK Infrastructure Framework price prediction looked like on 27 July 2022. It is important to point out at this stage that price forecasts, especially for something as potentially volatile as cryptocurrency, are very often wrong. Furthermore, we should also remind you that long-term price predictions are often made using an algorithm, which means that they can change at a moment’s notice.
First, the CaptainAltCoin RIF price prediction suggested the RIF token price may have dropped to $0.0685 in October 2022 after which it may have increased to $0.1147 in July 2023. By 2025, the token might have achieved $0.1818 and $0.1755, by July 2027. The site made an RSK Infrastructure Framework price prediction for 2030 of $0.4546 and $0.9091 in 2040.
Next, Gov Capital suggested the RSK Infrastructure Framework price prediction for 2022 might have closed the year at $0.116. By 27 July 2023, RIF might be valued at $0.129 and possibly $0.335 a year on from then. By 27 July 2025, the site predicted a price of $0.579, $0.945 12 months later and $1.279 on 27 July 2027.
Meanwhile, CoinsKid offered a RSK Infrastructure Framework crypto price prediction that said the token would have closed 2022 at $0.1293 and closed 2023 at $0.2468. By 2024, the site had forecast the token would have reached $0.3516 before it outlined an RSK Infrastructure Framework price prediction for 2025 that opened the year at $0.3941, may have fallen to $0.3666 by July and closed the year at $0.3418. By July 2026, the site suggested the token might be at $0.4947 before it recovered, possibly to $0.6154 in $0.5716.
Finally, WalletInvestor was more downbeat and bearish when its RIF token price prediction. The site suggested the token would have spiralled down to $0.00632 by July 2023.
When considering a RIF token price prediction, it is 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 RSK Infrastructure Framework are there?
On 27 July 2022, there were a little under 851 million RIF in circulation out of a total supply of one billion.
Is RSK Infrastructure Framework a good investment?
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 RIF 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.
Will RSK Infrastructure Framework go up?
It could do, but equally it might not. You have to keep in mind that cryptocurrencies can be extremely volatile and prices can go down just as easily as they can go up. Analysts and algorithm-based forecasters can and do get their predictions wrong. Keep in mind that past performance is no guarantee of future returns. Always do your own research. And never invest what you cannot afford to lose.
Should I invest in RSK Infrastructure Framework?
This is something that you will have to decide for yourself. Before you do so, you will need to do your own research. Remember prices can go down as well as up. Keep in mind that past performance is no guarantee of future returns. And never invest what you cannot afford to lose.
Markets in this article
Related topics
