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Nervos Network Price Prediction 2024: CKB Stalls After Surge

Last Updated 29 seconds ago
Giuseppe Ciccomascolo
Last Updated 29 seconds ago

Key Takeaways

  • Nervos Network’s CKB token jumped after the release of RGB++.
  • The coin had a negative 2023 but jumped in February and April 2024.
  • One price prediction says CKB may reach $0.0562 next year.

The CKB token of Nervos Network has surged notably shortly after the release  of RGB++, an extension protocol aimed at enhancing compatibility with Bitcoin.

After the surge, the CKB price stalled, being worth $0.02067 on April 17, 2024.

Nervos Network did not immediately respond to a request for comment

But what is Nervos Network (CKB)? How does Nervos Network work? Let’s see what we can find out, and also take a look at some of the Nervos Network price predictions that were being made as of April 17, 2024.

Nervos Network Price Prediction

Let’s examine some of the Nervos Network price predictions being made on April 17, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.0475 $0.0562 $0.0673
Prediction #2 $0.0349 $0.0497 $0.3730
Prediction #3 $0.030448 $0.032980 $0.105934

First, CoinCodex  had a short-term Nervos Network price prediction that said the token would go to $ 0.021678 on April 22 before dropping to reach $ 0.020000 on May 16. The site’s technical analysis was neutral, with 17 indicators sending bullish signals and 12 making bearish ones. 

Nervos Network Price Prediction for 2024

DigitalCoinPrice  said that Nervos Network would reach $0.0475 this year. PricePrediction.net   thought the token would trade at $0.0349. CoinWire  argued CKB would be valued at $0.030448 by the end of the year.

Nervos Network Price Prediction for 2025

Moving on, CoinWire thought Nervos Network would trade at $0.032980 in 2025. DigitalCoinPrice had the token coming in at $0.0562 that year. PricePrediction.net said CKB would be worth $0.0497 next year.

Nervos Network Price Prediction for 2030

Looking at a more long-term Nervos Network price prediction, PricePrediction.net said the token would hit $0.0652 in 2030. CoinWire suggested it would reach $0.105934 that year. DigitalCoinPrice made a CKB price prediction that had it trade at $0.3730 at the start of the next decade.

Google Gemini Price Prediction for Nervos Network (as of April 17)

Google’s Gemini platform gave the following price prediction for Nervos Network on April 17. 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 three months)

  • Expected price: $0.022
  • Factors to Consider:
    • Overall Crypto Market Performance: The success of Nervos Network will likely be influenced by the general performance of the cryptocurrency market.
    • Adoption and Development: Increased adoption of Nervos Network and continued development of its ecosystem could positively impact its price.
    • News and Events: Any significant news or events related to Nervos Network could cause price fluctuations.
    • Regulatory Landscape: Any changes in regulations regarding cryptocurrencies could affect the price of Nervos Network.

Medium Term (Next six months)

  • Expected price: $0.0233
  • Factors to Consider:
    • Overall Crypto Market Performance: CKB’s price will likely be impacted by the broader market trends.
    • Network Developments and Adoption: Increased usage and integration of Nervos Network could positively impact its price.
    • Regulatory Landscape: Any changes in regulations on cryptocurrencies could affect CKB.
    • Unforeseen Events: Unpredictable events like hacks or major economic shifts can significantly impact prices.

Long Term (Next five years)

  • Expected price: $0.0272
  • Factors to Consider:
    • Overall Crypto Market Health: The success of Nervos Network will likely be influenced by the general performance of the broader cryptocurrency market.
    • Adoption and Development: Increased adoption within its target audience and continued platform development will positively impact its price.
    • Partnerships and Integrations: Strategic partnerships and integrations with other major players in the blockchain space can significantly boost adoption and price.
    • Regulatory Landscape: Any changes in regulations regarding cryptocurrencies could affect the price of Nervos Network.
    • Technological Advancements: Nervos Network’s ability to stay ahead of the curve in terms of technological advancements will play a crucial role.

Recent Updates from Nervos Network

There’s no main update since the release  of RGB++.

Nervos Network Price History

Now, let’s examine the Nervos Network price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Nervos Network price prediction.

CKB first came onto the open market in November 2019, when it was worth $0.007917. It then increased, reaching its highest level of $0.0418 in April 2021. Then, the coin went on a rollercoaster, decreasing to $0.008753 in July 2021 and back on top at $0.03475.

Nervos Network in 2023 and 2024

Nervos Network price history
Nervos Network price in 2023 and 2024 | Credit:CoinMarketCap
CKB started 2023 at $0.007917, then increased reaching $0.006201 in February. CKB decreased again, hit the 2023 highest level of $0.006485 in March but, since then, it dropped for all the rest of the year.

The coin ended 2023 at $0.003805 but started 2024 on a positive note, jumping to $0.01044 on February 14, 2024. In mid-April, it jumped to $0.03159, before retracing a bit to $0.02067 on April 17, 2024.

At that time, there were 44.0 billion CKB in circulation, out of a total supply of 44.7 billion. This gave Nervos Network a market cap of about $921.2 million, making it the 85th largest crypto by that metric.

Nervos Network Price Analysis

Nervos Network Price Analysis
Can CKB bounce back?

On April 10, CKB reached $0.037, revisiting its all-time high territory from April 2021. As it ended its five-wave cycle in this uptrend, a downturn happened, with the price falling by 46% to a low of $0.02 on April 16. 

Looking at the four-hour chart, there is a strong chance for a bounce. This is because CKB fell to its ascending support anchored at its February 21 low of $0.0096. In addition, the Relative Strength Index got close to the oversold zone at 36%. 

There is a potential for a downside breakout attempt but we could still expect a bounce after that.. If the first bull market uptrend finished on April 10, the downfall since is its corrective stage. 

As such, it should be made in a three-wave manner, which is why we expect to see its second sub-wave before another downturn. On the expected rise, our target is $0.03, which is a lower high. If the price starts to decline after reaching those levels, a lower low of $0.012 could occur 

Is Nervos Network a Good Investment?

It is hard to say. The token’s price has stalled recently, but we don’t know whether it can make another upturn.

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

Will Nervos Network go up or down?

No one can really tell right now. While the Nervos Network 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 Nervos Network?

Before you decide whether or not to invest in Nervos Network, you will have to do your own research, not only on CKB, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who is the Founder of Nervos Network?

Nervos Network was founded in 2018 by Jan Xie, Terry Tai, Kevin Wang, Daniel Lv, and Cipher Wang.

Fact Box

Supply and Distribution Figures
Total supply 44,648,626,879
Circulating supply (as of April 15, 2024) 43,971,061,465 (96% of total supply)

From the Whitepaper

In its technical documentation, or whitepaper , Nervos Network says that, “built on RISC-V and secured by Proof-of-Work, CKB is the most flexible and interoperable blockchain. It serves as the ultimate foundation of Nervos, a modular blockchain network built from the ground up to ensure outstanding security, decentralization, flexibility, and interoperability.”

Nervos Network (CKB) Explained

Nervos Network  is a blockchain platform which consists of multiple blockchain layers that are designed for different functions. The foundational layer is known as the Common Knowledge Base, whilst the native cryptocurrency of this layer is called CKB.

How Nervos Network Works

CKB uses the Proof-of-Work (PoW) consensus mechanism. It has maintained an exceptionally high level of security and decentralization. CKB is entirely decentralized and requires no permissions. It has one-of-a-kind security measures so no hackers or third parties can affect the blockchain.

Nervos Network Attention Tracker

Nervos Network Google search volume
Nervos Network Google search volume for the last 90 days. | Credit: Google
Here is a chart for Nervos Network Google search volume for the past 90 days. This represents how many times the term “Nervos Network CKB” has been Googled over the previous 90 days.

FAQs

How many Nervos Network are there?

As of April 17, 2024, there were 44.0 billion CKB in circulation, out of a total supply of 44.7 billion.

Will Nervos Network reach $1?

It looks impossible right now, as no main price prediction sees CKB at that level soon.

What is Nervos Network?

Nervos Network is a blockchain platform which consists of multiple blockchain layers that are designed for different functions. The foundational layer is known as the Common Knowledge Base, whilst the native cryptocurrency of this layer is called CKB.

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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