Key Takeaways

• The Hashflow decentralized exchange is designed to reduce “slippage”, meaning that people don’t lose out on crypto deals.

• The platform suffered a hack in June 2023, losing $600,000 in the process.

• In the last month or so, Hashflow’s HFT token has made a recovery, but is still in the doldrums.

 

The Hashflow decentralized exchange aims to give people a chance to actually get the precise amount of crypto they have paid for.

However, the system was rocked in June 2023 when a hack  made away with about $600,000 worth of cryptocurrency.

Although the system has promised to make things right by its customers, the price of its native HFT token has suffered.

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 20 July 2023.

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.

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.

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.

It had not made that much of a recovery by 20 July 2023, when it was worth about $0.368.

At that time, there were 205.79 million HFT in circulation out of a total supply of one billion. This gave the token a market cap of $75.7 million, making it the 294th largest crypto by that metric.

Hashflow Price Analysis

Although HFT was, at the time of writing, trading at about 11% higher than after the news of the hack broke, it is still down by more than 60% from its high on 18 February.

On the other hand, Hashflow is still up by almost 30% since the start of the year.

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 20 July 2023. 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.

First, CoinCodex  had a short-term Hashflow price prediction that said the token would be in for a turbulent few weeks, dropping to $0.3356 by 25 July before bouncing back to $0.3985 by 19 August. The site’s technical analysis was, perhaps fittingly, neutral, with 13 indicators making bullish signals and 11 making bearish ones.

Hashflow Forecast for 2023

In terms of other Hashflow price predictions for 2023, DigitalCoinPrice  said that it would reach $0.76, while Bitnation  thought HFT would trade at $0.5532 and PricePrediction.net  forecast it to get to $0.45 this year.

Hashflow Forecast for 2025

When it came to a Hashflow price prediction for 2025, Bitnation was in front with a forecast of $1.29 while DigitalCoinPrice was slightly behind at $1.25. PricePrediction.net was a bit behind, saying HFT could reach $0.97 in two years’ time.

Hashflow Forecast for 2030

Moving on to a more long-term Hashflow price prediction for 2030, PricePrediction.net thought the token would be worth $5.88, while DigitalCoinPrice thought it would stand at $3.73. Bitnation, meanwhile, made an HFT price prediction that said it would trade at $3.14 at the start of the next decade.

Is Hashflow a Good Investment?

It is difficult to tell. The Hashflow DEX is still reeling from its recent hack and, despite a promise to make things right, 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.

FAQs

How many Hashflow are there?

On 20 July 2023, there were 205.79 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.