NKN Price Prediction: Will the New Kind of Network Spark a More Bloodbath?

Our NKN price prediction states that the NKN token may soon flash a bullish signal if it breaks above the current consolidation range. 

Cryptocurrency has built a deep connection with the traditional banking system with the evolution of our payment ecosystem. We have seen how cryptocurrencies have revolutionized the business economy and gained popularity due to the profound interest of people and investors for a long time. The overwhelming response from potential investors all over the world has been astounding. However, to approach the decentralized nature of the cryptosystem, the network’s establishment and sharing are vital. With a lot of struggles since the advent of the crypto space, developers have been trying hard enough to come up with a crypto protocol to eliminate network-related issues and make Web3 surfing a smoother experience for users. Hence comes the New Kind of Network (NKN), which is designed to effectively solve three pieces of infrastructure needed to unleash the power of Web3: computing, storage, and networking. As the name suggests, this network aims to bring a new way to build the Web3 network and stands out amid the vast crowd. Moreover, the native token NKN has witnessed significant momentum in the price chart, and it has made a noticeable price fluctuation throughout this year due to market turmoil. Hence, our NKN price prediction aims to bring its in-depth project analysis and expected future prices with advanced technical analysis of the current price trend to help you choose the best investment option amid the market downturn.

New Kind Of Network (NKN): An Overview

When we think about a network infrastructure for a Decentralized system, NKN comes to mind as it works on a unique peer-to-peer networks-based technology in blockchain space. The NKN ecosystem is powered by a robust public blockchain that implements monetary incentives to push internet users for network connection sharing. This way, they will be able to use the bandwidth which has yet to emerge in the network.  

Thus, the NKN protocol offers users the “new era of the internet,” i.e., the public internet network and more network resources. This project was launched and developed in the year 2018. The founder of the NKN network is Bruce Li, who was the ex-Chief Operating Officer for the NKN project. The NKN network uses the Proof of Relay consensus algorithm or the POR mechanism. The benefit of this consensus is that it provides top-notch security and evades attacks projected on the network. Hence, data transmission can be authenticated, and the verification cannot be tampered with. Before moving further, let’s find out NKN’s current market details to clarify our NKN price prediction better. 

NKN: Tokenomics And Roadmap

NKN is the native cryptocurrency of the NKN platform or New Kind of Network, a Chinese-based operation which is one of the largest networks in the world by node count. NKN’s protocol, based on the Cellular Automata (CA) mathematical function, allows the sale of usable bandwidth across the globe, which NKN passes on to its partners. The nodes that supply the bandwidth are rewarded through a proof-of-work (PoW) mechanism for their contributions, not dissimilar to Bitcoin, despite the rewards being considerably lower. The NKN ecosystem comprises a revolutionary public network backed by a novel peer-to-peer network connectivity protocol. Offering financial rewards encourages internet users to share connections and use unused capacity. With the help of NKN’s open, effective, and robust networking technology, application developers can build a decentralized internet, ensuring that everyone has access to safe, affordable, and globally available connectivity.

The whitepaper states, “NKN is the next generation of peer-to-peer network infrastructure built upon blockchain technology backed by Cellular Automata theory aiming at revolutionizing the Internet with true decentralization and native token incentive mechanism. NKN ultimately makes the network more decentralized, efficient, equalized, robust and secure, thus enabling a healthier, safer, and more open Internet.”

Let’s take a look at NKN’s characteristics to guess its potential:

Since its inception, the New Kind of Network has grown exponentially. This is made possible by the platform’s integration of several distinct protocols, including a blockchain, a decentralized wallet, and data access mechanisms. 

NKN Price Prediction: Price History

Before digging further, it is essential for investors to know NKN’s price history to get an overview of its future potential. However, the price history does not guarantee our NKN price prediction. 

The NKN token went live in the crypto market on 29 May 2018 with a trading value of $0.36. Within a week, the token shot up and reached a high of $0.48 on 6 June but failed to hold its upward trajectory further as NKN dropped significantly to $0.24 on 18 June. On 22 June, NKN made a slight upward retracement to $0.3 but extended its bearish momentum and fell to $0.04 on 19 August. NKN token continued to trade in the range of $0.02-$0.05 for the next two years. 

By the beginning of 2021, the NKN token made a bullish comeback in the price chart as it started bringing bullish hopes to its long-term investors. On 13 March 2021, the NKN token attained a high of $0.17, and it continued to rise further. NKN enjoyed an unpredictable bull run in early April 2021 as the broader cryptocurrency market witnessed a boom that pushed several cryptocurrencies to their all-time highs. Being triggered by NKN’s listing on Coinbase, the token made an all-time high of $1.48 on 9 April 2021. 

However, these figures were very short-lived, and the market went into a severe downward correction as NKN was dragged below the $0.30 line. In early November 2021, we once again saw an ascending pattern formation before the impactful market crash that we are currently experiencing. 

Moving into 2022, the token sank further, accelerated by a long-running bear market and multiple flash crashes with ample bankruptcy filing. The token once again fell below its launch price on 8 May 2022. By 15 June, the token was trading at $0.06227, hitting a new 15-month low. The NKN plunged hard in November due to FTX’s scam, and it currently experiences a solid bearish consolidation in the price chart. 

NKN Price Prediction: Technical Analysis

NKN is currently witnessing a stable price momentum in the last few weeks, and it can soon undergo a solid bullish momentum with an incredible high in the near future. However, several bankruptcy filings in the crypto space have shaken the community with rising concerns regarding trust and safety, putting extreme selling pressure on the price chart. Hence, our NKN price prediction aims to bring you an in-depth technical analysis using advanced technical indicators to invest amid the current market trend and guide you through a profitable investment plan.

According to CoinMarketCap, the current price of NKN trades at $0.08, with an uptrend of over 2% from yesterday’s performance. Our NKN crypto technical analysis reveals that this digital asset may soon ignite bullish signals to new highs after a short-term bearish consolidation. Looking at the daily price chart, NKN struggles to trade above the EMA-50 trend line at $0.0833 as the negative sentiments in the market create pressure on the price graph. NKN price analysis shows a downward market trajectory, which means that the asset is currently trading on a bearish path following the recent market crash. The NKN market has been experiencing extreme volatility recently, with prices fluctuating between $0.09 and $0.07 over the past month. NKN token currently trades near an extreme fear zone which was brought about by FTX’s collapse, creating an uncertain situation for investors. However, the asset has barred itself from dropping further as it has built support at $0.07, from which the coin is making a slight upward retracement to its 31.8% Fib retracement. The Balance of Power (BoP) indicator trades in a bullish region of 0.33, which may push NKN to test its resistance near $0.086. 

The popular indicator RSI-14 trades in a bullish territory at the level of 49, which may send NKN upward to break its resistance near the 23.6% Fib levels. Moreover, the MACD line forms a bullish pattern in the chart as it ignites green candles near the signal line, signifying bulls’ domination in the NKN price chart. The SMA-14 looks promising as it continues to trade above the level of 47, which may trigger a short-term upward journey for NKN to the EMA-100 trendline at $0.0881. If the NKN coin breaks above its EMA-100 trend line, it may ignite a clear uptrend to its Bollinger band’s upper limit of $0.1, above which it may make an attempt to break its solid resistance at EMA-200 at $0.11. Conversely, a further downfall is expected if NKN’s price drops below the critical support level of $0.07; below this price level, NKN may accelerate a sharp decline as it can trade near its Bollinger band’s lower limit of $0.035. If NKN fails to hold above $0.02, it may accelerate for a more bearish bloodbath and trade near $0.01.

NKN Price Prediction By BlockchainReporter

NKN Price Prediction 2022

According to our NKN price prediction for 2022, the token is predicted to attain a maximum value of $0.087 with an average trading price of $0.085. However, our technical analysis reveals that the NKN coin can go as low as $0.077. 

NKN Price Prediction 2023

Our NKN price prediction for 2023 expects a maximum trading price of $0.14, with an average trading price of almost $0.12. The NKN coin might retrace downward with a minimum price of $0.11 by the end of 2023. 

NKN Price Prediction 2024

The New Kind of Network boasts of developing incredible and excellent fundamentals for the crypto community. Our NKN price prediction for 2024 predicts that the token will extend its bullish momentum and likely achieve a maximum price level of $0.2. After that, NKN crypto might record a low of $0.16, with an average trading price of $0.17.

NKN Price Prediction 2025

Our NKN price prediction for 2025 anticipates a minimum value of $0.24 and a maximum value of $0.28. In addition, our NKN price forecast for 2025 predicts an average trading price of $0.25.

NKN Price Prediction 2026

NKN coin may witness an astronomical high in 2026 and bring an outstanding return on investment to its long-term holders. Our NKN price prediction for 2026 expects a maximum trading price of $0.42 with an average trading price of $0.38. NKN coin may trade at a minimum value of $0.37. 

NKN Price Prediction 2027

The crypto market may soon recover from the bearish condition and overcome its current hurdles as it is building potential for a bullish comeback and is expected to skyrocket in the next few years. Our NKN price prediction for 2027 suggests that it may touch a maximum trading price of $0.64. NKN coin may trade at an average price of $0.54 with a minimum value of $0.53.

NKN Price Prediction 2028

Our NKN price prediction for 2028 states that it may touch a maximum price of $0.91 and an average trading price of $0.76. The minimum value for the NKN cryptocurrency is predicted to hit $0.73.

NKN Price Prediction 2029

In the upcoming years, NKN coin may gain impactful partnerships due to its enhanced networking functionalities and can push its price to the North. Our NKN price prediction for 2029 expects a maximum price for this token to be $1.31 and a minimum price of $1.15. NKN crypto may reach an average value of $1.18. 

NKN Price Prediction 2030

Depending upon the future market potential and response from the community, NKN crypto can see a maximum price level of $1.99 with an average trading price of $1.79. However, the NKN coin is projected to hit the bottom level at $1.74 by the end of 2030.

NKN Price Prediction: Industry Experts

According to DigitalCoinPrice’s NKN price prediction, the price of NKN is expected to surpass the level of $0.18 in 2023. By the end of the year, NKN is expected to touch a minimum value of $0.17. In addition, the NKN price is capable of attaining a maximum level of $0.18. In 2029, NKN is expected to trade above the level of $0.81. By the end of the year, NKN is expected to hit a minimum value of $0.79. In addition, the NKN price may register a maximum level of $0.82.

Trading Beasts’ NKN price prediction states that the NKN price is predicted to reach $0.1090986 by the beginning of January 2023. The expected maximum price is $0.1363733, and the minimum price is $0.0927338. The NKN price may touch $0.1090986 by the end of the month. The website further predicts that the NKN price may attain an average price of $0.1129775, with a maximum value of $0.1661433 and a minimum of $0.1329147. 

Is NKN A Good Investment? When Should You Buy?

NKN has become a significant name in the blockchain space as it won two awards in 2018: the founder-friendly laboratories summer program and the Bell Labs open innovation challenge. NKN also received multiple awards due to robust potential and overwhelming accomplishment, where the most recent version of NKN’s mainnet has just been released, and the platform now hosts a wide number of basic dApps, making it a good investment option in the future. However, our NKN price prediction advises to invest in this coin at a price of $0.065 for a great ROI in the long term. 

Conclusion

NKN is working towards fulfilling a decentralized peer-to-peer infrastructure that contributes to the efficiency, sustainability, and security of blockchain-based distributed systems. By establishing economic incentives that motivate platform users to utilize unused bandwidth and share network connections, NKN contributes immensely to the decentralized restructuring of the internet to help make it more secure and open while also enabling its users to retain ownership and control over their data. Additionally, NKN provides dApp developers with an incredible networking toolkit to help build dApps on the platform in a quick and easy manner. DApp developers can focus on the ideas and innovation to bring new technologies to the blockchain space with a great user experience (UX) and business logic without needing to wade through multiple blockchain protocols and identity and security providers.

New Kind of Network (NKN), which was established in the early stages of the crypto space, has been a cornerstone of innovation and the development of decentralized apps. As a result, we may see NKN’s price climb in the future with ample investors as it seeks to create new inventions through its network ahead. However, it is advised to do your own research and conduct investment advice from experts before investing in the highly volatile market.