Since Neutron launched earlier this year, multichain apps in the Cosmos ecosystem have increasingly adopted the smart contract platform, strengthening the use value of the NTRN token.
In October, Astroport stakers voted to migrate governance and staking from Terra to Neutron. The move reflects growing confidence in Neutron among users of the cross-chain decentralized exchange.
As of November 15, assets worth over $30M were deposited in Astroport’s Neutron liquidity pools, representing more than 60% of the total value locked on the platform.
Thanks to Hyperlane Nexus and other infrastructure projects, a rapidly expanding network of cross-chain bridges is expanding Neutron across the Cosmos network and beyond.
Neutron is increasingly positioned to be the leading smart contract platform for Cosmos chains, as well as a key gateway connecting Cosmos to external ecosystems.
Neutron did not immediately respond to a request for comment.
But what is Neutron (NTRN)? How does Neutron work? Let’s see what we can find out, and also take a look at some of the Neutron Price Predictions that were being made as of November 15, 2023.
Let’s examine some of the Neutron price predictions being made on November 15, 2023. 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.
After breaking out in November, the market has turned bullish on NTRN, with most forecasts predicting it to rise further before the end of 2023.
According to CoinCodex’s prediction, the price of Neutron will increase by 2.56% over the next month to reach $ 0.522 by December 15, potentially climbing as high as $ 0.55 by December 31.
In 2025, Coincodex’s upper price target for Neutron is around $ 1.112. Bitnation is even more optimistic, predicting an average price of $1.75, rising to $1.90 in the most bullish scenario.
By the year 2030, CoinCodex’s Neutron price prediction is less confident than others, forecasting a price range of between $ 0.944 and $ 1.194 on the high end.
Meanwhile, DigitalCoinPrice anticipates NTRN will be worth $4.89–$5.26 by 2030, with an average forecast of $5.26.
Now, let’s examine some of the admittedly short Neutron price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Neutron price prediction.
NTRN first hit the open market in the middle of June 2023. The market had crashed following the United States Securities and Exchange Commission suing the Binance and Coinbase exchanges and, on June 15, it traded at an all-time low of $0.1951. After that, it went upwards, peaking at $0.4825 on July 3. A downturn happened, and it fell to $0.3024 on August 8.
There were more ups and downs, but it was trading at $0.2993 on September 5. Another upswing saw it break past $0.40 later in the month. It hovered around that level for a while, dropping to $0.3615 at the end of October 9 before it spiked to an all-time high of $0.5338 on October 10. By October 13, 2023, though, Neutron was worth about $0.3265.
Recently, the price of NTRN skyrocketed to $0.52.
At that time, there were a little over 217.1 million NTRN in circulation out of a total supply of just under one billion. This gave the coin a market cap of around $71 million, making it the 287th-largest crypto by that metric.
In October, Astroport stakers voted to migrate governance and staking from Terra to Neutron. As of November 15, the total value locked on Astroport’s Neutron liquidity pools stood at over $30M.
On November 2, Hyperlane launched Nexus, a new cross-chain bridge platform powered by Neutron. With an initial focus on Cosmos and Celestia, the project’s long-term goal is to create interoperability between all manner of different blockchains, and rollups.
The price of NTRN surged by 94% recently, coming from a low of $0.28 on November 9 to $0.55 on November 14. This was its highest price since it was released on October 10. Currently, it is being traded slightly lower at $0.50 but is still in an upward trajectory overall.
From its release, it fell to its lowest point of $0.25 on October 19, when the first uptrend started. It reached $0.36 on October 31 and made a reversal but managed to form a first higher low of $0.27 on November 3.
These were the first two sub-waves of the higher degree five-wave impulse, out of which the price is currently in the ending wave 5. On November 14, the price ended its second correction for wave 4 of 27% and retraced from a high of $0.51 to a low of $0.37.
The next and the final five-wave impulse of a lower degree count started from there, and it appears that it has one more high ahead before its completion. Considering that wave 3 got extended, wave 5 doesn’t have much room to go.
The Relative Strength Index can also validate this on the daily chart, as it entered the overbought zone at 77%. We can expect to see one more high to the vicinity of $0.55 or just slightly above it, but then as it would mark the completion of the larger uptrend from October 19, the first significant correction.
Thanks to Artificial Intelligence (AI) models’ capacity to quickly process large amounts of data and compile information from multiple sources, chatbots like ChatGPT and Google Bard can be used to forecast cryptocurrency prices.
When prompted, the latter delivered an Immutable X price prediction forecasting the token’s short, medium, and long-term prospects.
Average Price: $0.50
Average Price: $0.75
Average Price: $2.00
It is difficult to tell. NTRN is still a relatively new crypto. While there is some interest in it, it is decidedly among the medium-to-lower-ranking coins and tokens at the moment.
On the other hand, it has shown some consistency in its price, and there is a use case for it. This should stand it in some good stead, demonstrating it has a purpose and is not some useless meme coin.
As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in NTRN.
No one can tell right now. While the Neutron 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.
Before you decide whether or not to invest in Neutron, you will have to do your research, not only on NTRN but on other coins and tokens such as Chainlink (LINK). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Neutron is a platform dedicated to smart contracts, computer programs that automatically execute once certain conditions are met. The system is designed to allow people to operate smart contracts across different blockchains.
The blockchain is based on the Cosmos (ATOM) ecosystem, although it is a chain in its own right.
It was founded in 2023 by a team including former Lido DAO (LDO) community manager Avril Duthiel.
The NTRN coin powers the Neutron network.
It is important not to confuse the 2023 Neutron with another crypto of the same name , which is a yield-bearing coin founded in 2015.
Neutron uses a Proof-of-Stake (PoS) consensus mechanism. This means that people add blocks to the blockchain and validate transactions based on how much NTRN they hold.
NTRN also rewards the people who operate the computers, or nodes, which run the network. Holders can vote on changes to the system and people can buy, sell, or trade NTRN on exchanges.
On October 13 2023, there were a little over 217.1 million NTRN in circulation out of a total supply of just under one billion.
It might do, but not for a little while. Both Bitnation and DigitalCoinPrice say it can break past the dollar in 2025.
Keep in mind the highest NTRN has traded at is $0.5338, which it reached on October 10 2023.
The NTRN coin powers the Neutron blockchain. People can also buy, sell, and trade it on exchanges.
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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 user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.