Web3 project (WEB3) price prediction: Will the rally go on?
The newly launched cryptocurrency token for the Web3 Project (WEB3) soared in value by more than 100% in its first two weeks of trading, before sliding back to a 50% gain as of 9 April. The WEB3 token has regained strength since then and was trading at $336.32 at the time of writing (12 April), just around 10% below its all-time high of $373.41 that it hit on 5 April 2022.
Web3 refers to the next generation of internet applications, which enable users to control and monetise their personal data on open-source, decentralised blockchain networks. The emerging Web3 industry was worth almost $3trn at the end of 2021, according to analysis by Electric Capital, with more developers joining than any other year and the industry still in the early stages of development.
The Web3 Project aims to play a part in enabling the transition to Web3 infrastructure with its cryptocurrency token. What is the WEB3 Project? How is the token price expected to perform in the future? We take a look at the project and the available Web3 Project coin price expectations to help you decide whether or not to invest.
Web3 auto-staking promises high fixed yield
The Web3 Project is a company focused on providing a decentralised digital currency that can be used in Web3 applications such as decentralised finance (DeFi), play-to-earn gaming and social finance while rewarding holders.
The project uses an auto-staking protocol, which it claims provides a sustainable model for fixed compound interest at a high yield of 404,092.65% for the first 12 months. It uses a positive rebase formula that distributes token rewards worth 0.000079% at the end of every three-second rebase period. The yield will be reduced after the first 12 months.
In the latest WEB3 coin news on 8 April, the project announced a two-week promotional APY rate of 1.6bn%.
THAT’S RIGHT, YOU READ IT CORRECTLY!!! 1.6 BILLION % APY FOR THE NEXT TWO WEEKS IS STARTING IN ONE HOUR????????????
— The Web3 Project (@TheWeb3Project) April 8, 2022
PACK YOUR BAGS !!!!????????????#bsc #tw3p #Web3 #APY #dualrebase #StakingRewards #Metaverse #NFT #binance #CryptocurrencyNews #BreakingNews #Crypto #cryptocurrency pic.twitter.com/iFiThroW3F
The Web 3 Project’s white paper notes that some projects that boast high annual percentage yield (APY) rates push down the price of their tokens by adding liquidity or removing tokens from the market only to later dump them. This means that while holders receive a large number of tokens from staking, the value of the tokens stays the same and the effective return is 0%. And given the price volatility in cryptocurrency markets, some lose value despite having a high APY.
The WEB3 cryptocurrency token is based on the BEP-20 standard on the Binance Smart Chain (BSC). It launched on 22 March with an initial supply of 100,000 and will make automatic staking payments every three seconds over a period of 12 years until it allocates its maximum supply of one billion tokens.
The development team has based the token on the code of similar high-yield projects but made adjustments that it claims address their flaws and create a more stable system.
The protocol charges relatively high transaction fees to support its high staking yield, taking 14% for purchases and 16% for sales. The fees are allocated as follows:
4% – WEB3/BNB pair liquidity pool on the PancakeSwap (CAKE) exchange
5% – $WEB3 Trust Fund (WTF), which backs the staking rewards provided by the positive rebase
3% plus an additional 2% for sale fees – $WEB3 Treasury (TWT), which supports the WTF as well as providing funds for project marketing and development
2% – burned to reduce circulating supply
The Web3 Project includes a non-fungible token (NFT) marketplace, where users can buy and sell unique avatars that interact with the ecosystem. Each NFT offers a bonus, such as reduced transaction fees. Users can trade NFTs on the marketplace or rent them out to earn passive income.
According to the project roadmap, during the second quarter, it expects to complete an audit by blockchain security firm Certik, launch a second collection of NFT avatars and a multichain marketplace, and introduce version 2.0 of its decentralised autonomous organisation (DAO).
Web3 token price spikes on launch
The WEB3 token opened trading at $164.28 on 23 March and traded up to $207.70 intraday before sliding back to close at $169.28, according to the price chart. By 29 March, the WEB3/USD price slipped to a low of $105.64, but turned higher as the developers announced a $200,000 buyback event over five days.
The WEB3 token price reached a new high of $230.15 on 3 April and then jumped to $373.41 on 5 April, for a gain of 127%. The price slipped back again to $213.93 on 8 April but moved up to $246.92 on the following day.
Today (12 April), the WEB3 token has been trading at $336.32 with a market capitalisation of $7.9m.
Can the price maintain its strong performance in the months ahead, or should you consider taking a short position on the price to make a profit? What do forecast sites indicate about the long-term potential for the coin based on its initial performance?
Web3 project (WEB3) price prediction: How will the coin perform in future?
With the Web3 Project token having launched only recently, some forecast sites, such as WalletInvestor and CoinCodex, had yet to begin technical analysis of its price performance to issue a WEB3 forecast at the time of writing.
For the long term, DigitalCoin had a bullish Web3 project price prediction (as of 12 April), indicating that the WEB3 price could rise from an average of $440.36 in 2022 to $502.44 in 2023 and climb to $651.89 in 2025. By 2030, the price could more than double from the 2025 average to hit a target price of 1,547.41, the data showed.
PricePrediction was less bullish in its short-term WEB3 price prediction, expecting the token to average $174.51 in 2022 and $246.28 in 2023. But it projected that the token could gather momentum in the years ahead to reach $525.01 in 2025 and $3,432.93 in 2030, based on deep artificial intelligence-assisted technical analysis on past price data.
Based on the token’s strong gains at launch, deep learning WEB3 prediction by Gov Capital estimated that the price could soar to $1,632.981 by the end of 2022 and build further momentum to reach $5,628.413 by the end of 2023. The token could trade at $9,939.511 by the end of 2025 and reach $13,272.31 in five years’ time, according to the Web3 project prediction.
When evaluating a Web3 project crypto price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile. That makes it difficult to accurately predict what a coin’s price will be in a few hours, and even harder to give estimates on the long-term outlook. As such, analysts and algorithm-based forecasters can and do get their projections wrong.
If you are considering trading cryptocurrency tokens, we recommend that you always do your own research and never invest more than you can afford to lose. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any trading decision. Keep in mind that past performance is no guarantee of future returns.
FAQs
Is WEB3 a good investment?
Cryptocurrency markets are highly volatile, which can make them risky investments – especially relatively new tokens like WEB3. Despite a strong performance since launch, it is important to do your own research to determine if it is a good fit for your portfolio. Whether the token is a suitable asset for you depends on your risk tolerance and how much you intend to invest.
How high can WEB3 coin go?
Forecast sites were bullish in their WEB3 crypto price predictions as of 12 April. But the project’s potential depends on its continued adoption in the cryptocurrency community and the direction of the crypto markets. You should do your own research to come up with an informed view of where the coin could trade in the future.
Can WEB3 hit $1,000?
Both forecasting services Digital Coin and Price Prediction believed the WEB3 token has potential for gains. In its Web3 project coin price prediction (as of 12 April), Digital Coin expected it to surpass $1,000 by 2028, trading at an average price of $1,081.52. The WEB3 coin price prediction from Price Prediction estimated the token could hit $1,000 a little earlier, in 2027, and trade at an average price of $1,097.60.
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