The Overview of NKN
The price of NKN had its own share of ups and downs. Near its peak, the NKN price reached the all-time high of $1.48 in April 2021. The NKN price equal $0.2896 today, which is 1.65% more than yesterday. Though the current market rank of #278 makes NKN underrated, in our opinion, the price of NKN is near its support levels. This might be a good time to analyze NKN price action and understand if it can generate good returns on investment.
|Price Change 24h||-2.61%|
|Price Change 7d||-17.22%|
|Circulating Supply||700,000,000 NKN|
|All time high||$1.48|
|All time low||$0.006411|
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Below is the compiled analysis of the technology, the network, and the NKN price predictions with the chart analysis to help you make better investment decisions in the future.
What is NKN Crypto?
The official whitepaper describes NKN or New Kind of Network as a new generation of highly scalable, self incentivized, and self-evolving public blockchain infrastructure. Using the Cellular Automata (CA) methodologies, NKN addresses the network’s self-evolution as well as decentralization for efficiency and dynamism. The Proof of Work mechanism achieves the tokenization of the NKN network’s connectivity and data transmission capacity.
NKN emphasizes decentralizing network resources in a way that is close to how Ethereum and Bitcoin operate by decentralizing computing power and how FileCoin and IPFS decentralize storage. All of this makes the NKN network efficient, decentralized, equalized, secure, robust and thus paves the way for creating an open Internet that is both healthier and safer for investing.
The NKN ecosystem has three major projects as of now. These are:
It is a decentralized platform as a Service or PaaS. It is faster and reliable, with low messaging, streaming, and file transfer service for person to person, machine to human, as well as machine to machine communication. It has several use cases, some of which extend to Chats and Instant messaging services, Direct File Transfers, IoT communications, Remote control of servers, or Live chat support services.
It offers a lightweight SDK that supports Java, Go, Android, and iOS. The project is running using a freemium model for now, which makes it free to try, and eliminates the need to set up and maintain its own infrastructure.
To put it simply, nMobile is a messaging app powered by blockchain technology. The secure chat protects the user’s personal data by keeping it on the device. All the messages are encrypted, and no data is stored on the cloud. It supports both English and Chinese language.
It is 100% anonymous, where every client communicates on the network with a randomly generated ID. The platform is also open-source, unlike messaging platforms like WhatsApp. This means it is open to everyone, and this also encrypts the user information with a real private key that is a secret to everyone else.
It is a complete remote access solution tool that follows the highest security and privacy standards. The service enables its users to reach their private and personal data with just one click. It is accessible to its users at any time, regardless of their geographical location.
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Since the NKN network has up to 30 thousand servers in more than 40 countries, the tunneling nodes are always available. It supports both TCP and UDP data transmission, which means it is robust and reliable. This also helps reduce the net latency by aggregating multiple concurrent paths and reaching new heights of reliability.
Why Use NKN?
The NKN network is aware of its use cases and how it will use peer-to-peer network infrastructure that is created upon blockchain technology. NKN is supported by Cellular Automata theory, which aims to revolutionize the internet with a true version of native token incentive and decentralization mechanism.
On top of it, they have also analyzed their own work and come up with countermeasures to prevent the following attacks that may adversely affect their network. Some of these are:
- Sybil Attacks: Sybil attack implies any circumstance where a fraud node tries to be multiple users. Fraud miners can act by delivering additional copies and get paid for them. Physical forwarding is done by creating multiple Sybil identities but only transmitting data once.
- DoS Attacks: An offline resource-centric attack is called a Denial of Service or DoS attack. The attacker wishes to target a certain account and prevent the account holder from posting transactions in such attacks.
- Eclipse Attack: In this, the attacker controls the peer-to-peer communication and manipulates a node’s neighbors to communicate with malicious nodes. The network’s vulnerability to such attacks depends on the peer sampling algorithms and can be reduced by carefully choosing neighbors.
- Double Spending Attack: This refers to the case where the same token is spent more than once. In classic blockchains, nodes prevent double-spending attacks by consensus to confirm transaction sequence.
NKN Technical Analysis
The below price chart shows how drastically the price of NKN tokens increased using some prominent technical indicators. The beginning of the last year pushed the prices up and gave a good return to the traders on their investment. There was high volume since last February as the price started to increase in the uptrending direction, causing a volatility increase in the months of February and March 2021.
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However, this NKN price increase was nothing compared to the price rise of April. In April 2021, the coin marked significant volatility, creating an all-time high at $1.48 price level for NKN. All of this increase in volatility is indicated by the Bollinger bands.
During the same period, in the month of April 2021, the RSI indicator created an overbought signal. In this case, the RSI correctly predicted the price condition as the NKN price began to drop in the coming months. The NKN price hit its lowest levels in June 2021 with the lowest volatility. At this point, the market started picking up its pace and started to move again, and for a while, it looked like the NKN token was trending upwards. Currently, the RSI is 76.15.
The Accumulation/Distribution indicator starts to downtrend after the all-time highs of last April 2021. This is mainly because the average rise in volume started to drop, and this means that the market started to lose interest after the price increase of April 2021. After reaching the 50-day moving average in August 2021 following the downtrend, the price started to move back up.
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Since then, the price has fluctuated near the 50-day moving average, and the current price is above the 50-day exponential moving average at $0.2896. It is expected to be a ripe opportunity for investors to invest in as the RSI is nearing the oversold signal, and the support level is close for NKN.
NKN Price Predictions: 2022-2026
The following NKN price predictions use predictive algorithms and technical analysis to forecast future short-term and long-term prices. It is to be noted that this does not mean that the future price of NKN will be precisely the same. As the analysis uses past performance, investors must be aware that past performance does not indicate future price movements. The following NKN forecast should not be interpreted as a piece of investment advice.
Investors and traders must do their own research before getting involved in volatile assets. Additionally, the cryptocurrency market is one of the bizarre markets where the price can change overnight. Investors and traders alike must be aware of the risks involved and do their own due diligence. Understanding risk tolerance is critical to finding your own trading style. Anyway, let’s get started to know more about the NKN token price prediction (NKN) for the short-term and long-term.
NKN Price Prediction 2022
NKN’s performance was not so positive during the beginning of 2021, but before quarter 1 ended, it had already reached its highest price. NKN price today is $0.2896, with a slight fall in the price and market cap compared to the past few days. The expected minimum price value of NKN may be $0.35 for the current year. The NKN can reach a maximum price level of $0.40, and the average price is forecasted to be around $0.38.
NKN Price Prediction 2023
The NKN price prediction (NKN) suggests that the NKN value will reach a minimum price of $0.38 while simultaneously predicting a maximum price level of $0.47. As per our NKN forecast, the average price level for 2023 will be near $0.43. Compared to the current year value of NKN, its value in 2023 is expected to be doubled as per our forecast.
NKN Price Prediction 2024
The historical data and NKN price predictions models suggest the minimum price of NKN will be $0.35. The maximum price will be near $0.53, and the average price will be around $0.46 in the year 2024. NKN has great potential for a short-term period and may touch new heights if the current trend continues.
NKN Price Prediction 2025
The technical analysis for the year 2025 predicts the minimum price of $0.49 and the maximum price of $0.62. The average trade price will be $0.57. The NKN price forecast suggests that if the value of the NKN coin reaches the predicted level, it may be a sign that the demand for the token will see a sudden spike.
NKN Price Prediction 2026
There might be slight downfall in the price in the year 2026 as compared to 2025. The NKN crypto price prediction suggests that a minimum price of $0.46 will be achieved. The maximum price is expected to be $0.55 while maintaining an average price of $0.50 for the year 2026.
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Frequently Asked Questions (FAQs)
Where to buy NKN coin?
Binance is the recommended exchange for purchasing NKN digital coins. Liquidity issues and price slippage are always an issue when buying any crypto. Other than Binance, the recommended exchanges to bull or sell NKN are Huobi, Bittrex, Upbit, and KuCoin. You may also swap out your existing BTC or other supported cryptocurrencies by using UniSwap.
How many NKN tokens are there in circulation?
The current market capitalization of the NKN coin is around $200,093,375.01, with a fully diluted market cap near $285,847,678.59. The last 24-hour trading volume was near $14,662,734.82. The circulating supply of NKN tokens stands at 700,000,000 NKN, and this is 70 percent of the maximum supply possible, which stands at 1,000,000,000 NKN tokens.
Is NKN a good investment?
We used technical analysis, and based on the predictions, the returns are good in the long term. This bullish NKN forecast compels us to believe in the power of NKN. With regulations relaxing in the future, the blockchain is more likely to become better and better. We believe that NKN cryptocurrency can be a profitable investment.
What is NKN price prediction 2030?
As per our NKN price prediction 2030, the minimum price is expected to be $1.27, with a maximum price of $1.35. Digital currencies have already attracted a lot of attention from traders, and the trend is only going to increase in the future. As per the current trend and sign, NKN will also gain popularity in the future.
Source link: https://www.cryptonewsz.com/forecast/nkn-price-prediction/