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TE-FOOD price predictions: Investors feast again on TONE

By Capital.com Research Team

10:00, 6 August 2022

A dairy supply chain
TE-FOOD is giving food businesses the opportunity to track their supply chain – Photo: FGC / Shutterstock

There are many reasons to have the ability to track the food supply chain, ranging from monitoring potential allergen contaminations to sustainability. TE-FOOD is utilising blockchain technology to make supply chain tracking an accessible and attainable goal for food providers. 

Its TONE token has an unhappy price history, often fluctuating around its launch price. 

This has not stopped some optimistic TONE price predictions from forecasters, however.

What is TE-FOOD (TONE)?

TE-FOOD is on a mission to bring transparency to the food industry and is using blockchain technology to achieve it. Consumers can verify TE-FOOD certified products and discover their origins.

As well as empowering customers, it can help food companies optimise their supply chain and tell their story. TE-FOOD is also used by governments to monitor and improve food safety.

There are multiple uses for the technology. Its CoinMarketCap page says: 

“TE-FOOD aims to enable customers to improve consumer trust and brand exposure, gain deeper supply chain insight to improve their operational efficiency, comply with export regulations, protect their brands against counterfeiting, and perform quicker product recalls.”

Since launching in 2016, TE-FOOD has gained more than 6,000 business clients, served 150 million customers and now manages 400,000 operations every day.

TE-FOOD was co-founded by Erik Arokszallasi, Trung Dao Ha and Marton Ven. Arokszallasi, the project’s Hungarian chief executive, has 23 years’ experience in the IT industry. 

Blockchain technology is integral to TE-FOOD’s operations. It uses hundreds of nodes worldwide to capture and store supply chain data, which can then be publicly accessed. 

For TE-FOOD’s client, owning its Ethereum-based TONE token acts as a software licence. This gives users a chance to use the supply chain-focused network and its many features. Holding a certain amount of TONE is required for clients to be granted access.

A bumpy price history

TONE price chart

Source: CoinMarketCap

TONE went live on CoinMarketCap at $0.028 on 10 March 2018 and saw an initial surge in its price. It peaked at $0.057 in May and managed to climb back to $0.04 in July.

BTC/USD

66,993.40 Price
-0.090% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

ETH/USD

3,510.44 Price
+0.060% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

DOGE/USD

0.13 Price
+7.320% 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

0.60 Price
+3.000% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

However, it was unable to capitalise on this momentum in the long term and its price eventually started falling. The token fell below its launch price in August that year and continued this bearish trend for the next three years. It dropped to its all-time low of $0.001 on 13 March 2020. 

The cryptocurrency listed on Uniswap at the end of 2020. It then announced that Grupo Avícola Rujamar, a Spanish poultry farm, had joined the blockchain on 9 March 2021. A week later, TONE managed to pass its previous price record and hit $0.06. It rose to its all-time high of $0.119 on 5 May, at a time when its Covid testing product was gaining traction.

Its next substantial spike occurred in early November 2021, after it was listed on the KuCoin exchange in late October. TONE was able to reach a high of $0.091 on 3 November. 

After consolidating from this peak, the TE-FOOD token fluctuated around its launch price at the beginning of 2022, before dipping to $0.008 in May.

It has recovered from this low recently, after Coinbase (COIN) listed the token on 2 August.

On 5 August, three days later, TONE was trading at $0.029, down 11% on the previous week. 

TE-FOOD price predictions

There have been some bullish TONE price predictions with many expecting the token to have a strong future. At the time of writing, TechNewsLeader said it could fall to $0.019 in a year before climbing back to $0.057 in five years’ time. Its TE-FOOD price prediction for 2030 suggested an optimistic maximum price of $0.25 might be possible.

Similarly, PricePrediction thought the token could only average out at $0.011 this year. Its TE-FOOD price prediction for 2025 suggested it could reach $0.041, and perhaps rise to $0.36 in 2031. 

The TONE token price prediction from AMB Crypto was along the same lines, with an average value of $0.058 forecasted for this year. The site thought the cryptocurrency could pass $0.01 in 2026 and perhaps climb to $0.23 in 2030.

DigitalCoinPrice was a little more reserved: its TE-FOOD price prediction for 2022 expected the token to only reach $0.038. The forecaster said it could take until 2029 before the supply chain token could pass $0.01. Its TONE crypto price prediction did not think the token could reach $0.02 in the foreseeable future.

When considering a TONE coin 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

What is TE-FOOD?

TE-FOOD is giving clients the opportunity to track their food products. TONE is essential to this as it acts as a software licence for its products.

How and where to buy TE-FOOD (TONE) coins?

TE-FOOD is currently available on KuCoin, Uniswap, and recently Coinbase.

 

Markets in this article

COIN
Coinbase Global Inc (Extended Hours)
256.98 USD
21.13 +8.980%

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You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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