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Hashflow Price Prediction 2024: HFT Struggles After Unlock

Last Updated February 22, 2024 9:01 AM
Peter Henn
Last Updated February 22, 2024 9:01 AM
Key Takeaways
  • Hashflow’s HFT token unlock in November last year resulted in an influx of 160.4 million HFT tokens into the market.
  • The price didn’t react notably to the unlock. 
  • One price prediction says it may reach $1.38 in 2025.

Hashflow DEX’s token HFT unlocked 73% of its circulating supply, flooding exchanges with Hashflow tokens. This significant token unlock event is anticipated to heighten selling pressure on the asset, potentially leading to further devaluation of HFT price as entities receiving the unlocked tokens commence shedding their holdings.

According to data  sourced from token.unlocks.app, a total of 160.38 million Hashflow (HFT) tokens, with a value of $44.32 million at the time, were unlocked.

Hashflow did not immediately respond to a request for comment.

But what is Hashflow (HFT)? How does Hashflow work? Let’s see what we can find out, and also take a look at some of the Hashflow Price Predictions that were being made as of February 22, 2024.

Hashflow Coin Price Prediction

With that all out of the way, let’s take a look at some of the Hashflow price predictions that were being made as of February 22, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.

2024 2025 2030
Prediction #1 $0.79 $0.92 $2.70
Prediction #2 $1.01 $1.38 $3.19
Prediction #3 $0.6123 $0.8810 $6.51

First, CoinCodex  had a short-term Hashflow price prediction which said that the token would be somewhat volatile in the coming weeks, with it dropping to $0.319851 by February 27 and reaching $ 0.378869 by March 23. The site’s technical analysis was neutral, with 19 indicators sending bullish signals and seven making bearish ones.

Hashflow Forecast for 2024

In terms of other Hashflow price predictions for 2024, DigitalCoinPrice  said that it would reach $0.79, while Bitnation  thought HFT would trade at $1.01 and PricePrediction.net  forecasts it to get to $0.6123 this year.

Hashflow Forecast for 2025

When it came to a Hashflow price prediction for 2025, Bitnation was in front with a forecast of $1.38 while DigitalCoinPrice was slightly behind at $0.92. PricePrediction.net was a bit behind, saying HFT could reach $0.8810 next year.

Hashflow Forecast for 2030

Moving on to a more long-term Hashflow price prediction for 2030, PricePrediction.net thought the token would be worth $6.51, while DigitalCoinPrice thought it would stand at $2.70. Bitnation, meanwhile, made an HFT price prediction that said it would trade at $3.19 at the start of the next decade.

Google Gemini AI Price Prediction for Hashflow (as of February 22)

Google’s Gemini AI platform gave the following price prediction for Hashflow on February 22. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $0.381253
  • Factors to Consider:
    • Overall market sentiment: The broader cryptocurrency market sentiment can significantly impact individual token prices.
    • Adoption and usage of Hashflow: Increased adoption and usage of the Hashflow platform could drive the price up.
    • Regulations: Regulatory changes in the cryptocurrency space could impact the price.
    • Team and development: The team’s progress and development roadmap can influence investor confidence and price.
    • Unforeseen events: Unexpected events like hacks or major news can significantly impact the price.

Medium Term (Next 6 months)

  • Expected price: $Not Available
  • Factors to Consider:
    • Overall market sentiment: If the general sentiment towards the cryptocurrency market is positive, it could benefit HFT.
    • Adoption and partnerships: Increased adoption of Hashflow’s platform and partnerships with other projects could drive up the price.
    • Regulations: Regulatory changes could impact the entire cryptocurrency market, including HFT.
    • Team and development: A strong team and active development roadmap could attract investors and boost the price.

Long Term (Next 5 years)

  • Expected price: $0.79
  • Factors to Consider:
    • Overall cryptocurrency market trends: The price of HFT will likely be influenced by the broader performance of the cryptocurrency market. If the market experiences a bull run, HFT could see significant price increases. Conversely, a bear market could lead to price declines.
    • Adoption and usage of the Hashflow platform: The more users and developers adopt the Hashflow platform, the greater the demand for HFT, which could positively impact its price.
    • Regulatory developments: Governments around the world are still developing regulations for cryptocurrencies. Any changes in regulations could impact the price of HFT.
    • Competition: There are several other platforms offering similar services to Hashflow. The level of competition could affect the price of HFT.

HFT Price History

Let’s now take a look at the Hashflow price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a Hashflow price prediction.

HFT first came onto the open market in November 2022. It was trading at $2.58 on 7 November, the day of its launch. Unfortunately, it was around that time that the process which led to the bankruptcy of the FTX exchange started to unfold. This meant that not only was $2.58 HFT’s all-time high, but it also plummeted to an all-time low of $0.2768 on 28 December before closing the year at $0.2853.

Hashflow in 2023 and 2024

In 2023, HFT has experienced ups and downs. It briefly peaked at over $0.90, reaching $0.9464 on 18 February, following the launch of the DAO, but then fell down. The market was already bearish when it sank to a low of $0.3296 on 15 June, the day after the hack was revealed.

Hashflow price history
Hashflow price in 2023 and 2024 | Credit: CoinMarketCap

It had not made that much of a recovery by 20 July 2023, when it was worth about $0.368. It then ended the year at $0.3732 and moved sideways in early 2024, reaching $0.3655 on February 22, 2024.

At that time, there were 354.3 million HFT in circulation, out of a total supply of one billion. This gave the token a market cap of $129.5 million, making it the 348th largest crypto by that metric.

Is Hashflow a Good Investment?

It is difficult to tell. Despite a recent unlock, the price of HFT has not exactly set the world on fire.

More to the point, Hashflow exists in a crowded DEX space right now, so it will be interesting to see what more it can do to stand out.

While the gamified nature of its DAO is interesting, it might be a little too similar to the Metaverse. After that sector took staggering losses in 2022, it is likely that investors will be wary.

On the other hand, the basic premise of Hashflow – in other words, that you get what you actually pay for, without having to worry about “slippage” – is a good one, so there is certainly some potential.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in HFT.

Will Hashflow go up or down?

No one can really tell right now. While the Hashflow crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in Hashflow?

Before you decide whether or not to invest in Hashflow, you will have to do your own research, not only on HFT, but on other, related, coins and tokens such as Uniswap (UNI) or Osmosis (OSMO). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Hashflow (HFT) Explained

One of the most important parts of the world of crypto are exchanges. Since cryptocurrency does not have an intrinsic value, having a place where the market can set a price is vital.

There are two sorts of crypto exchanges. Centralized exchanges (CEXes) are based around a central authority, which keeps cryptocurrencies in reserve, sets the prices, and decides what can be traded for what.

Decentralized exchanges (DEXes), on the other hand, do not answer to one single authority. They use order books and liquidity pools to help keep things moving. They also allow people to decide which cryptos they want to exchange for what, and allow the market itself to set the prices.

Hashflow , which was launched in 2021 by aerospace engineer Varun Kumar and tech experts Victor Ionescu and Vinod Raghavan and is based on the Ethereum (ETH) blockchain, is one such DEX.

The exchange is supported by its native token, which goes by the ticker handle HFT.

How Hashflow Works

Hashflow uses a piece of software called a RFQ (Request for Quote) engine. This allows it to get in touch with people who make markets. And ensures that people are able to trade cryptocurrencies at the price they are listed it.

To use a piece of financial jargon, that means it eliminates so-called slippage.

The fact that, in many cases, the market makers operate off the blockchain means that the platform is able to offer crypto traders better prices, or at least it is meant to.

The HFT token has a couple of uses. First, it allows holders the right to vote on changes to the network. Secondly, it is used to measure the overall “health” of people in the Hashverse Decentralized Autonomous Organization (DAO). The Hashverse, which launched in early 2023, is described in the system’s technical documentation as being “gamified” with people able to take part in challenges to earn HFT.

HFT can also be bought, sold, and traded on exchanges.

Because HFT is based on Ethereum, it is a token, not a coin. You might see references to such things as a Hashflow coin price prediction, but these are not, strictly speaking, accurate.

Hashflow Attention Tracker

Hashflow Google search volume
Hashflow Google search volume | Credit: Google

Here is a chart for the Hashflow Google search volume for the past 90 days. This represents how many times the term “Hashflow HFT” has been Googled over the previous 90 days. 

FAQs

How many Hashflow are there?

As of February 22, 2024, there were 354.3 million HFT in circulation, out of a total supply of one billion.

Will Hashflow reach $1?

It might do. Both Bitnation and DigitalCoinPrice think HFT will get there in 2025, while PricePrediction has it reach that level in 2026.

Keep in mind, though, that the only time Hashflow has traded above the dollar was 7 November 2022 – the day it hit the open market.

What is Hashflow used for?

The HFT token is used to give people votes on the Hashflow decentralized exchange. It is also used to measure a user’s “health” in the platform’s decentralized autonomous organization, and it can be bought, sold, and traded on exchanges.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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