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NKN Price Prediction 2023-2032: What Drives NKN Prices?

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NKN Price Prediction 2023-2032

NKN – an acronym for New Kind of Network – can be compared to Substratum and Ontology, two projects that are building a decentralized internet solution. But a better perspective would be a triumvirate where NKN provides decentralized networking, Ethereum takes care of the decentralized computing, and Filecoin/IPFS does the hosting via decentralized storage.

If you are aware that one of the first applications built on NKN is a Smart home IoT, a Proof-of-Concept for what the team calls the “Airbnb of the Future,” a decentralized sharing economy, you’ll be interested to get into position for the next bull run. Money is still out there and prices are driven by the community.

The NKN hype started two years ago when an impressed observer exclaimed:

This project has the highest potential to achieve mass adoption out of all the competitors in this space!

Ikenna Odinaka

According to a report published by NKN in January 2023, the platform prides itself as one of the most extensive blockchain network globally, with over 180,000 full consensus nodes, with Bitcoin and Ethereum having much less. 

What can you hope to gain from this NKN token price movement? Let’s get into the details.

How much is NKN worth?

Today’s NKN price is $0.0848 with a 24-hour trading volume of $2,316,801 USD. NKN is up 0.36% in the last 24 hours. The current CoinMarketCap ranking is #299, with a live market capitalization of $63,926,153. It has a circulating supply of 754,831,362 NKN coins and a max. supply of 1,000,000,000 NKN coins.

Also Read:

NKN Coin Price Analysis: Bullish Upside Meets Bearish Warnings

TL;DR Breakdown

  • Future resistance and support levels suggest a range-bound asset
  • NKN approaching key resistance level at $0.0875
  • NKN trades below its 50-day and 100-day Moving Averages

NKN price analysis 1-day Chart: Crucial Resistance Test Ahead for NKN as Mixed Signals Emerge

NKN currently trades below its 50-day and 100-day Moving Averages, generally a bearish indicator. However, a bullish signal emerged on September 9, suggesting potential for a trend reversal. The current sentiment leans bullish as NKN approaches a key resistance level at $0.0875. A breakout above this point could see the coin rise to around $0.0889. The RSI stands at 48.32, indicating a neutral market. This means NKN could swing either way, making the upcoming resistance test crucial for determining its short-term trajectory.

New Kind of Network Coin price analysis 4-hour chart: NKN Faces Uphill Battle

In a 4-hour period, both the Ichimoku Cloud and MACD indicators collectively suggest a bearish sentiment for the asset in the short-to-medium term. Specifically, the price has moved below the Ichimoku Cloud’s Conversion Line and Baseline, indicating a prevailing bearish momentum. This sentiment is reinforced by the MACD line crossing below the Signal line, typically a sign that the asset is losing upward momentum and may experience further downside.

Interestingly, the Ichimoku Cloud’s Lagging Span highlights a bullish trend in the past 26 periods, introducing a note of contrast to the current bearish indicators. While this historical trend suggests that the asset had been in a favorable condition, the present bearish signals appear all the more significant. Therefore, despite past bullish activity, the prevailing trend suggests the bears are in control for now.

The Ichimoku Cloud further reveals future support and resistance levels through its Leading Spans. Leading Span A indicates that substantial resistance can be expected at $0.0919 and $0.0944 by September 17, suggesting that a recovery in price would encounter significant barriers. Leading Span B provides additional layers of support and resistance at $0.0929 and $0.0881 by September 22, corroborating the range-bound nature of the asset.

Overall Assessment:

In summary, NKN displays mixed indicators across various time frames. While the daily chart shows some bullish potential, pointing to an upcoming resistance test at $0.0875, the 4-hour chart leans bearish. Key technical indicators like the Ichimoku Cloud and MACD affirm this bearish sentiment. Notably, future support and resistance levels indicate that a tough road lies ahead for any immediate price recovery. Therefore, investors should proceed with caution, keeping an eye on pivotal resistance and support points to gauge NKN’s next moves.

Recent News/Opinion on NKN

August 2023 NKN Update: Participates in Korean Blockchain Week, Launches UCS Blogs in French, Becomes Loanable on Binance, and Introduces New GO Library for Open API.

Screenshot 2023 09 14 at 16.58.42

NKN Introduces Universal Communication System (UCS): A New Initiative Built on NKN Protocol to Serve as the TCP/IP Layer in UCS Architecture.

Screenshot 2023 09 14 at 16.59.52

NKN Price Predictions 2023-2032

Seeking to understand the future price trajectory of New Kind of Network (NKN) for the years 2023 to 2032? We analyze NKN’s historical performance and apply technical analysis as well as predictive algorithms and opinion from industry experts to offer both short-term and long-term price forecasts.

Price Prediction by Cryptopolitan

YearMinimum Price ($)Average Price ($)Maximum Price ($)
20230.110.110.12
20240.150.160.18
20250.220.220.26
20260.320.330.37
20270.470.490.56
20280.700.720.83
20291.011.041.19
20301.371.421.71
20312.112.172.43
20322.973.063.60

NKN Price Prediction 2023

According to our NKN price prediction for 2023, the NKN coin is expected to have a maximum price of $0.12. The minimum price is $0.11, and the average trading price of the coin is predicted to be $0.11.

NKN Price Prediction 2024

Our NKN price prediction for 2024 is a maximum price value of $0.18. The minimum price of NKN is predicted to be $0.15, and an average price of $0.16.

NKN Price Prediction 2025

Our NKN price prediction for 2025 is a maximum price of $0.26. The coin’s lowest price is expected to be $0.22, and the average trading price of the coin is $0.22.

NKN Price Prediction 2026

Our NKN price prediction for 2026 is a maximum of $0.37. The minimum price value the coin will have by the end of 2026 will be $0.32, while its average price is expected to be $0.33.

NKN Price Prediction 2027

Our NKN token forecast for 2027 is a maximum price of $0.56 with a minimum price of $0.47. We also expect NKN’s price to reach an average trading price to be $0.49.

NKN Price Prediction 2028

Our NKN coin price prediction for 2028 is a maximum price of $0.83. The minimum price of the coin by 2028 is expected to be $0.70; the average trading price of the coin is forecasted to be $0.72.

NKN Price Prediction 2029

Our NKN price prediction for 2029 is a maximum price of $1.19 with an average trading price of $1.04. The coin is expected to have the lowest price at $1.01.

NKN Price Prediction 2030

Our NKN cryptocurrency prediction for 2030 is a maximum price of $1.71; the coin’s lowest price is $1.37. The average price of the coin is expected to be $1.42.

NKN Price Prediction 2031

Our NKN price prediction for 2031 is a maximum trading price of $2.43, with an average trading price of $2.17. The minimum price of the coin is expected to be $2.11.

NKN Price Prediction 2032

According to our NKN price prediction for 2032, the maximum price of the coin is expected to be $3.60. The average trading price of the coin is expected to be $3.06, with a minimum price of $2.97.

NKN Price Prediction by Wallet Investor

According to forecasts by Wallet Investor, NKN is considered to be a suboptimal choice for long-term investment. Their projections indicate that the coin will depreciate to $0.0116 in a one-year time frame. Further into the future, Wallet Investor predicts that NKN could see a significant devaluation of approximately 87.625% over the course of the next five years.

NKN Price Prediction by DigitalCoinPrice

According to Digitalcoinprice, NKN (New Kind of Network) token appears to be on an ascending trajectory over the course of the next decade. In 2023, the minimum, average, and maximum prices for the NKN token are anticipated to be $0.076, $0.17, and $0.19, respectively. By 2025, Digitalcoinprice projects the minimum price to elevate to $0.25, with the average and maximum prices reaching $0.29 and $0.31, respectively. This translates to approximately a 47% rise in the average price relative to 2023 levels, potentially pointing to increased investor interest or specific, favorable developments within the network.

Progressing toward the end of the decade, the projections for 2030 show a substantial leap. According to Digitalcoinprice, the token’s minimum price could be $0.82, with an average of $0.87 and a maximum of $0.89. This surge – nearly doubling the asset’s average value compared to 2028 – could be indicative of the cryptocurrency’s increasing stability and a growing market presence.

By 2032, Digitalcoinprice forecasts that NKN could reach a minimum price of $1.59, an average of $1.62, and a maximum of $1.64. If these projections are accurate, they would represent an 86% increase in the average price in just a two-year span from 2030, potentially signaling long-term market trust and stability for NKN as a digital asset.

NKN Price Prediction by Coincodex

According to Coincodex, the NKN token is expected to rise slightly from $0.083323 in the next 5 days to $0.088219 in a month. A significant price surge to $0.161793 is anticipated in 3 months, but this peak is followed by a decline to $0.089115 at the 6-month mark. The token is projected to recover modestly to $0.128892 within a year. However, long-term forecasts indicate a decrease to $0.073681 by 2025 and further depreciation to $0.044202 by 2030. These predictions highlight the token’s short-term volatility and less optimistic long-term prospects.

NKN Price Prediction by Industry Experts

Star Trading Friend provides a comprehensive technical analysis of the NKN (New Kind of Network) coin across multiple time frames—monthly, weekly, and daily. The presenter identifies a recurring pattern: the coin experiences a decline, followed by a breakout, and then moves within established support and resistance levels. Specific trading recommendations provided include an entry price of $0.1009, a stop-loss at around $0.0968, and short- and long-term target prices at $0.1131, $0.1411, and $0.1651, respectively. 

NKN Coin Overview


NKN Overview

      
      

NKN Price History

Screenshot 2023 09 14 at 16.52.44
Source: CoinMarketCap

NKN was initially offered to the public through a token sale in early 2018. The price was initially negligible but caught the attention of early investors interested in networking and data transmission projects.

2018 – 2020:
For most of 2018 to 2020, the coin experienced relatively stable but low trading prices, often falling within the range of $0.02 to $0.05. This period didn’t see much volatility but offered a stable price movement, although the low price meant that the token also attained its all-time low of $0.006411 in March 2020.

2021: The Bull Run:
The year 2021 saw an extraordinary bull run for most cryptocurrencies, and NKN participated in this trend. In the first quarter of 2021, the coin’s price skyrocketed to new highs, reaching around $1.48 in April 2021. However, like many other cryptocurrencies, NKN experienced a correction shortly after and declined in value, reaching $0.70 in November, and below $0.4 by the end of December, but maintained levels much higher than its earlier days.

2022 – 2023

In a volatile journey through 2022 and 2023, NKN, the cryptocurrency has seen its fortunes wax and wane. Starting 2022 with a promising $0.3 valuation, NKN couldn’t maintain the momentum amidst broader market instability and regulatory pressure, falling to under $0.2 by mid-year. A dismal Q3 followed, which led the coin to trade around $0.18. November 2022 was particularly devastating, as NKN prices tanked to $0.14, mirroring a bearish cycle in the cryptocurrency market as a whole.

Entering 2023, the NKN token made modest recoveries, touching $0.138 in February and $0.139 in June. Though bolstered by strategic partnerships and technological upgrades, these recoveries were insufficient to break long-standing resistance levels, owing to lingering market skepticism. As of September 2023, NKN finds itself at a critical juncture, trading at its 2018 price levels. 

More on NKN

What is NKN?

Network Infrastructure for a Decentralized Internet, known as NKN, is the working of unique peer-to-peer networksbased on blockchain technology. The NKN Ecosystem is powered by a novel public blockchain that uses monetary incentives to push Internet users for network connection sharing. This way, they will be able to utilize the bandwidth that is still unused and available to them.

Thus, NKN offers the “new Internet,” i.e., the public internet network and more network resources. This project was launched in the year 2018. The founder of the NKN network is Bruce Li, who was also the ex-Chief Operating Officer for the cryptocurrency project. The founder stated that the network operates from offices based in Beijing and another in Silicon Valley in an interview.

Using the NKN blockchain, you can share your Internet connection with different users from across the Internet in a P2P manner.

The NKN network uses Proof of Relay‘s consensus mechanism or the POR consensus. The benefit of this consensus is that it is highly secure and evades attacks directed to the network. Hence, data transmission can be verified, and the verification cannot be tampered with.

Currently, there are more than 25K nodes to validate financial transactions and all the imaginable data on the NKN blockchain. This makes NKN an already impressive network, wherein the participants receive rewards.

Therefore, when it comes to the NKN price predictions, it is essential to learn about the use cases of the NKN token.

NKN Projects

Cellular Automata, A New Kind of Science, and the Ising Model build NKN’s consensus algorithm. A simple local majority rule can allow nodes to reach an agreement in a small number of iterations.

The NKN network has several Chinese collaborations under it as it forms the next-generation blockchain systems. These include:

  • D-chat: This is a private and decentralized network-based chat system that offers end-to-end encryption based on the NKN network. It is entirely free for integration with the Chrome browser and provides offline messaging. More than 10k nodes are operating and even allow the users to upload audio, video, or pictures.
  • Nutshell: It is similar to SSH in many aspects. It executes shell commands from users who are authenticated by the NKN network. After that, the network sends back results through the NKN-client and monitors for incoming requests from the NKN-multiclient-js application.
  • Edge computing: The NKN entered into a partnership with China Mobile.
  • Content Delivery System: NKN scored another partnership with iQIYI. This is one of the biggest and most-used platforms for video streaming in China, with many users. The NKN network can handle the entire financial system of a firm.

Conclusion 

Based on our NKN price forecast, it is expected that NKN will increase in the future. NKN’s quality fundamentals, including its services and massive community, will help spur the coin’s growth in the future. If NKN can bring on new developments to excite investors, we may see a better performance of the token in the next few months.

FAQs

Is NKN a good investment?

NKN is a good project with prices set to trade higher this year.

Where can I buy NKN?

You can buy NKN tokens on Binance, Huobi, Crypto.com, Gate.io, Uniswap, Bittrex, KuCoin, WazirX and Coinbase.

Which wallets can store NKN?

NKN tokens can be stored in the Trust wallet, NKN wallet, and Ledger wallets.

Will NKN replace Bitcoin?

NKN will not replace bitcoin. NKN and Bitcoin have different use cases.

Will NKN price crash?

There is a low probability of an NKN price crash.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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