Today, the world is more connected than ever. While this is great for business and commerce, this does raise some issues for individuals. One of the most pressing concerns of this development is data privacy. Personal information is now treated as a commodity that needs to end for a better future. Over the years, Blockchain technology has helped solve many such long impending issues for good. Similarly, the Dragonchain (DRGN) network was launched to address some similar issues. The Blockchain network offers a lot, making it an ideal industry-wide application.
But does that mean you should invest in the Dragonchain (DRGN) Token? Continue reading to find out if Dragonchain (DRGN) Token is worth your investment.
Dragonchain (DRGN): At A Glance
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Dragonchain (DRGN): Overview
The idea behind the Dragonchain platform was first conceptualized in 2014. Initially, the platform was called Disney Private Blockchain Platform. But that changed into Dragonchain when the source code was released to the public in 2016. With headquarters in Seattle, Washington, USA, the Dragonchain (DRGN) token was up for grabs in 2017. Dragonchain is a decentralized block-based ecosystem that allows developers to create decentralized applications. Thus, the network is comparable with other blockchain networks such as Ethereum (ETH-20), EOS, and more. But Dragonchain has a couple of differences which we will explore later.
The primary intent behind the launch of the Dragonchain platform was to secure commercial data and regulate access based on users' needs. As a result, every user on the network has the flexibility to create intelligent contracts or choose from any pre-written smart contracts. Besides that, Dragonchain has some of the most impressive features that make it very different from most similar projects.
The Dragonchain Foundation is responsible for the continual development of open-source code. Further, the Dragon Net algorithm achieves consensus on the Dragonchain network. Dragonchain users operate independent nodes, and third-party partners validate the activities within the network. If your information is too sensitive, the core team members will be responsible for operating the private nodes.
The Dragonchain network also comes with a native currency called the Dragonchain (DRGN) token. The token can be used for several purposes, which we will learn about in the following section. Most people refer to the Dragonchain (DRGN) token as a sort of intellectual property license stored in a blockchain. This is understandable given the operating mechanism of the Dragonchain (DRGN) token is not very different from this.
Fundamental Value of DRGN Token
With your head wrapped around the nuances of the Dragonchain platform, it is time to evaluate the Dragonchain (DRGN) token, the native currency of the platform. It is always essential to evaluate the fundamental value of a token before investing in it. This gives you a better understanding of the token and whether it is worth your investment.
But before diving into the fundamental value of the Dragonchain (DRGN) token, let's first get an idea of the current state of the Dragonchain (DRGN) token in the market. The Dragonchain (DRGN) token currently holds a value of $0.01758 with a market cap of $6,517,593. The 24-hour trading volume of the token stands at $31,737, which has increased by 5.22% in the last 24 hours. Besides that, the circulating supply of the Dragonchain (DRGN) token stands at 370,772,651.36 DRGN tokens from a total supply of 433,494,437 DRGN tokens. With that clarified, let's dive into the fundamental value of the Dragonchain (DRGN) token.
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Verification Nodes:
Every Dragonchain (DRGN) token holder has the liberty to run verification nodes. These nodes will cost you around $10/month, and you can earn an appealing interest rate of 0.033 DRGN for every million times of commitment. You can earn a single Dragonchain (DRGN) token in a month if you have one million times.
Earn TIME:
Every Dragonchain (DRGN) token holder can earn 1 TIME when their tokens are held in the wallet. The TIME mechanism is attached to the DRGN tokens in the wallet, allowing one to earn more TIME by running verification nodes and lending. You can connect your Dragonchain (DRGN) token to the MyEtherWallet for the Dragonchain Console account.
Lend TIME:
The Dragonchain Console allows token holders to connect with the Ethereum Wallet and lend out the TIME they have earned. In addition, all leased TIME is available on the DRGN marketplace, where businesses can swoop in and make purchases.
Now that you have a better idea about the fundamental value of the Dragonchain (DRGN) token, it is time to evaluate more details about the token. The following section will walk you through the price history and overview of the Dragonchain (DRGN) token to help you make better investment decisions. So continue reading to learn more about the history of Dragonchain (DRGN) tokens.
Price History and Overview Of DRGN Token
The Dragonchain (DRGN) token was introduced in the market in December 2017 at $0.26. Surprisingly the token breached the $1 mark just two weeks after its release. Within a month, the Dragonchain (DRGN) token reached its all-time high valuation of $5.12. The market cap of the Dragonchain (DRGN) token at that time stood at $1,133,257,628. But thanks to the volatile nature of the crypto, the Dragonchain (DRGN) token prices began to drop in March 2018. The token reached a valuation of $0.628256 this month, but a sudden spike increased its value again in April 2018. This is when the Dragonchain (DRGN) token reached a valuation of $1.199230.
This was probably the last time the Dragonchain (DRGN) token saw its value over $1 as soon the crypto crash of 2018 took the market to its grips. After that, the token's value began to tread on a bearish trend, ultimately closing 2018 at just $0.080634 in December 2018. 2019 was not an excellent year for Dragonchain (DRGN) token as its value continued to tread on a bearish trend. The token started the year with a value of $0.076102. But things started to change for good, and the token reached a value of $0.100153 in April 2019. Further, in July 2019, the Dragonchain (DRGN) token was valued at $101640.
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A bearish trend followed this run, where the token's value reached a low of $0.027125 in December 2019. Then came 2020, another bad year for the Dragonchain (DRGN) token. First, the token's value began to fall with the Covid pandemic taking the world to its grips. But the prices picked up again in June 2020, reaching a valuation of $0.114324. But things only went south from here on, ultimately resulting in the token closing the year with a value of $0.040877 by December 2020. 2021 was a better year for Dragonchain (DRGN) tokens, as the token started the year with a bullish trend. As a result, its value began to increase from $0.045906 in January 2021, ultimately reaching $0.154243 in May 2021. Unfortunately, a dry spell followed this for a couple of months until things changed, and Dragonchain (DRGN) token reached a value of $0.129050 in November 2021.
2022 has been another bad year for the crypto market, and the Dragonchain (DRGN) token has also suffered in due course. The value of the Dragonchain (DRGN) token has been declining at a steep rate since the start of the year. It started the year with a value of $0.073183 in January 2022.
The Dragonchain (DRGN) token currently holds a value of $0.01758 with a market cap of $6,517,593. The 24-hour trading volume of the token stands at $31,737, which has increased by 5.22% in the last 24 hours. Besides that, the circulating supply of the Dragonchain (DRGN) token stands at 370,772,651.36 DRGN tokens from a total supply of 433,494,437 DRGN tokens.
DRGN Token Price Forecast
With a detailed and granular understanding of the past performance of the Dragonchain (DRGN) token, it is time to take a look into the future of the token. Of course, it is never easy to determine the future performance of a token with so much volatility in the market. But one can always rely on analysis from experts to get a better idea. So let's check out the technical and fundamental analyses of the Dragonchain (DRGN) token.
This brings us to August 2022, when the Dragonchain (DRGN) token currently holds a value of $0.01758 with a market cap of $6,517,593. Furthermore, the 24-hour trading volume of the token stands at $31,737, which has increased by 5.22% in the last 24 hours. Besides that, the circulating supply of the Dragonchain (DRGN) token stands at 370,772,651.36 DRGN tokens from a total supply of 433,494,437 DRGN tokens.
Technical Analysis
2022 has been a bad year for every token and coin in the crypto market, and Dragonchain (DRGN) token is no exception. The token started the year with a valuation of $0.073183, and the value kept falling from there on. This bearish trend has had a significant impact on the overall valuation of the token.
This brings us to August 2022 when the Dragonchain (DRGN) token currently holds a value of $0.01758 with a market cap of $6,517,593. The 24-hour trading volume of the token stands at $31,737, which has increased by 5.22% in the last 24 hours. Besides that, the circulating supply of the Dragonchain (DRGN) token stands at 370,772,651.36 DRGN tokens from a total supply of 433,494,437 DRGN tokens.
Fundamental Analysis
Every crypto investor is well aware of the significance of the fundamental analysis of a token. Moreover, the conclusions from the fundamental analysis give one a better idea of what to expect from the future of the token. This makes it imperative you familiarize yourself with the fundamental analysis of the Dragonchain (DRGN) token.
Dragonchain (DRGN) token has been in the market since 2017, and the token has shown unmatched resilience during this period. It has seen and been through numerous ups and downs and still managed to ride the tide. While the token has been suffering recently, it is fair to say the value will bounce back again with enough time.
Note: The volatile crypto market is not a secret to anyone. This makes it almost impossible to determine the exact value of a token in the future. However, one can always refer to the analysis and information from experts to base their decisions accordingly. But make sure not to mistake these predictions as concrete data as things can change at any time based on different factors. So instead of solely relying on this data, make sure you do your research and due diligence to make the right investment decision. It is time to dive deeper with a better idea of the Dragonchain (DRGN) token from the technical and fundamental analyses of the Dragonchain (DRGN) token. The following section will walk you through more granular details and information about the Dragonchain (DRGN) token. So continue reading to learn more about the year-wise price predictions of the Dragonchain (DRGN) token.
DRGN Token Price Predictions
Dragonchain Token Price Prediction For 2022 | Potential ROI: 314%
2022 has not been a great year for the Dragonchain (DRGN) token. The token started the year with a value of just $0.073183 in January 2022. Unfortunately, its value went on a free fall since then, reaching a low of $0.016432 in June 2022. Unfortunately, this bearish trend does not seem to go anywhere anytime soon.
This brings us to August 2022, when the Dragonchain (DRGN) token currently holds a value of $0.01758 with a market cap of $6,517,593. Furthermore, the 24-hour trading volume of the token stands at $31,737, which has increased by 5.22% in the last 24 hours. Besides that, the circulating supply of the Dragonchain (DRGN) token stands at 370,772,651.36 DRGN tokens from a total supply of 433,494,437 DRGN tokens. The remainder of 2022 looks better for the Dragonchain (DRGN) token. Experts from PricePrediction.net are predicting an upward turn will take the token's value to $0.025. Even experts from WalletInvestor seem to be sailing on the same boat with their predictions suggesting the prices will reach $0.2063 by the end of 2022. But experts from TradingBeast are pessimistic with their predictions suggesting the prices will fall to $0.
Dragonchain Token Price Prediction For 2023 | Potential ROI: -24%
Most experts are pessimistic about Dragonchain's (DRGN) token's performance in 2023. First, WalletInvestors' experts predict prices will drop to $0.00335 by December 2023. Then comes the experts from TradingBeast, who still believe the prices will remain at $0 even by the end of 2023. Finally, contradicting these views are experts from PricePrediction.net, who suggest a growth to take the token's value to $0.039 by December 2023.
Dragonchain Token Price Prediction For 2024 | Potential ROI: 360%
2024 will likely be a better year for Dragonchain (DRGN) tokens, with experts from PricePrediction.net suggesting the prices will grow and reach $0.058 by the end of 2023. Even experts from WalletInvestor are sharing a similar view with their predictions for 2024 suggesting the prices will reach $0.199 by December 2024. Unfortunately, experts from TradingBeast are adamant with their view offering the prices of Dragonchain (DRGN) tokens will remain at $0 even by the end of 2024.
Dragonchain Token Price Prediction For 2025 | Potential ROI: 59%
2025 might not be a great year for Dragonchain (DRGN) tokens, with experts from TradingBeast still sticking with their $0 prediction. Even experts from WalletInvestor have now jumped boats with their predictions suggesting a downfall to take the token's value to a low of $0.00298 by December 2025. But experts from PricePrediction.net are still optimistic the token will grow and reach a valuation of $0.086 by December 2025.
Dragonchain Token Price Prediction For 2030 | Potential ROI: 887%
The long-term price prediction for Dragonchain (DRGN) token is predominantly pessimistic. First, experts from WalletInvestor are expecting the prices to decline and reach $0.001967. Then come the experts from TradingBeast, who are still suggesting the prices will fall to $0 by the end of the decade. Finally, contradicting these predictions are experts from PricePrediction.net, predicting a bullish trend to take the token's value to $0.55 by December 2030. Making sense of this many figures and numbers is anything but easy. Hence, the best thing to do in this case is present these figures more comprehensively. So refer to this table below to get a better understanding of what's in store for the future of the Dragonchain (DRGN) token. [wpdatatable id=301]
Notable Features of The Dragonchain
The platform's unique features are one of the primary reasons why the Dragonchain managed to ride the tide all these years. So let's check out some of these features to understand better if they serve your needs effectively.
- Proof For Every Transaction: Dragonchain ensures that users get proof for every single transaction on the network. This is possible since the platform is secured with blockchain technology.
- Unmatched Safety: The other great quality of Dragonchain is the safety the platform has to offer. This allows businesses to store all their sensitive information with unmatched safety features such as encryption.
- Smart Contracts: Dragonchain allows its users to code smart contracts in any programming language. The cherry on the top here is you need not sweat about having any prior experience with blockchain to create these contracts.
Is It Worth Investing in Dragonchain (DRGN) Token?
Crypto investments often have more personal implications than one might imagine. So it is always better to evaluate all your factors and then decide accordingly. Once done with that, refer to the data available in the market, such as in the form of price predictions from experts. But make sure you do not rely on this data alone, as these figures can change at any time, given the volatile nature of the crypto market. Instead, take some time to research and study the market to make an informed decision. This will help you better understand if Dragonchain (DRGN) token is worth your investment.
Final Verdict
Crypto investments without prior knowledge or market research can quickly turn into bad decisions. Hence it is imperative to ensure you evaluate all the factors associated with the market and make your decision accordingly. But of course, this requires a lot of time and effort to understand all the nuances of the market. Fortunately, you need not worry about that since this article has all the information you need. In addition, the article gives you a better insight into the past, present, and future of the Dragonchain (DRGN) token. So make sure you use this information well and facilitate better decision-making to drive growth.
FAQs
Q1. Will the Dragonchain (DRGN) token again exceed the $1 mark?
Predicting the future performance of a token is never easy in this volatile market. But the best one can do is on seasoned professionals' expertise and their predictions. Given the data available now, it does not look like Dragonchain (DRGN) token will exceed the $1 mark anytime soon but maybe in the future.
Q2. How can I buy Dragonchain (DRGN) tokens?
There is a wide range of crypto exchanges that support the Dragonchain (DRGN) token. So you can visit any of these crypto exchanges and make your purchase without any hassle. These exchanges include KuCoin, Gate.io, Bancor, HitBTC, and many more.
Q3. Should I invest in a Dragonchain (DRGN) token?
The decision to invest or not in a token is your personal decision. But the best you can do is carry out your research and due diligence to determine if the Dragonchain (DRGN) token is worth your investment. Besides that, you can even refer to the predictions from experts to make the right decision.
