Privacy-based crypto tomiNet got a boost in late August 2023 when it was listed on the Bitfinex exchange. The platform’s TOMI token rose by nearly 50% in a week in the wake of the announcement.
TomiNet team leader Abraham Piha told CCN.com: “At tomi, our immediate focus is on further developing the tomiNet and expanding our community’s reach worldwide. Being listed on Bitfinex is a significant step forward in the distribution of TOMI, and we are very excited about it. We are committed to fostering widespread adoption and growth, and constantly providing value to the crypto and web3 space. We will continue to advocate for freedom of speech and information.”
The news comes as the platform’s co-founder Moshe Hogeg, faces fraud charges in his native Israel. The Times of Israel reported that Israeli authorities alleged he raised about $290 million for crypto projects before spending the money on himself. The police also claimed their investigation found evidence Hogeg had carried out sexual offences.
Neither tomiNet, Hogeg, nor the Israeli Ministry of Justice immediately replied to a request for comment.
But what is tomiNet (TOMI)? How does tomiNet work? Let’s see what we can find out, and also take a look at some of the tomiNet Price Predictions that were being made as of September 1 2023.
Let’s examine some of the tomiNet price predictions being made on September 1 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.
First, CoinCodex had a somewhat mixed short-term tomiNet price prediction. It said TOMI would fall to $3.24 by September 6 before climbing to $3.62 by October 1. The site’s technical analysis was on the bullish side of neutral, with 20 indicators making positive signals and eight making bearish ones.
Moving on, Bitnation’s tomiNet price forecast said it would be worth $11.88 in 2025. DigitalCoinPrice suggested it would stand at $12.01. PricePrediction.net thought TOMI would be worth $7.84 in two years’ time.
Looking at a more long-term tomiNet price prediction, PricePrediction.net said the token would reach $49.79 in 2030. DigitalCoinPrice thought it would be worth $35.48 that year. Bitnation’s TOMI price prediction saw it trade at $28.86 at the start of the next decade.
Now, let’s look at the tomiNet 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 tomiNet price prediction.
When tomiNet came out in January 2023, it was worth about $0.24. It traded at an all-time low of $0.2035 on January 18. It climbed after this and broke past the dollar towards the end of the month.
The price of TOMI rose until it reached an all-time high of $7.13 on June 6. This meant the token was a rare high point at a time when the crypto market struggled in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges.
There was a downturn after this. It soon slid below $5, hovering around that level for a while. It slumped again, and it collapsed to $1.85 on August 17. This was when the market crashed again after Elon Musk’s SpaceX sold millions of dollars worth of Bitcoin (BTC). However, despite the news of Hogeg’s legal problems, the Bitfinex listing saw it rise again. On August 31 it reached $3.53 before dropping to around $3.40 on September 1.
At that time, there were 65.3 million TOMI in circulation out of a total supply of 112.6 million. This gave the token a market cap of around $222 million, making it the 112nd largest crypto by that metric.
TOMI has dropped a little over 3% in the course of a day or so. However, the token has still jumped by more than 80% since its low on August 17. It is down more than 50% from its record price in June, but up by more than 1,300% since January 16, when it traded at $0.2461.
It is hard to say. On one hand, the idea of a truly free internet will always be appealing to some people. TomiNet could, potentially, link that concept with blockchain technology and give people a “safe space” online. The recent listing on Bitfinex will also bring TOMI to more people’s attention.
On the other hand, though, there is one pretty serious issue facing tomiNet. The platform’s co-founder Moshe Hogeg is currently facing charges for fraud and sexual offences. With Hogeg having previously been under investigation for underage sex charges, it is understandable if more ethically-minded investors might steer clear of TOMI. We should point out, however, that Hogeg denies all charges.
Nevertheless, if he is charged and eventually found guilty, that will not exactly bolster TOMI’s reputation.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in TOMI.
No one can really tell right now. While the tomiNet 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 tomiNet, you will have to do your own research, not only on TOMI, but on other, similar, coins and tokens such as Monero (XMR), Zcash (ZEC) or Verge (XVG). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Something that attracts people to blockchain technology and cryptocurrency is the offer of privacy. The idea that there is a place where someone can do things and not have to worry about governmental interference is a powerful one. It attracts many idealistic people to the blockchain.
TomiNet is a platform which aims to take these concepts and apply them to an alternative world wide web. Crypto entrepreneurs Abraham Piha, Moshe Hegeg, Hirokado Kohji and Mike Coral founded tomiNet in 2021.
TomiNet aims to found a censorship-free internet, based on the blockchain. It is based on the Ethereum (ETH) network.
TomiNet uses a web browser, but allows people to utilise the encryption of IP addresses and crypto transactions, thus helping them obtain privacy online.
The TOMI token pays for transactions on the network and rewards people who help operate the system. People can also buy, sell, and trade TOMI on exchanges.
Because tomiNet is based on Ethereum, it is a token, not a coin. You might see references to such things as a tomiNet coin price prediction, but these are wrong.
On September 1 2023, there were 65.3 million TOMI in circulation out of a total supply of 112.6 million.
It might do. Both Bitnation and DigitalCoinPrice said it would get to that level in 2025, while PricePrediction.net said it would happen in 2026.
Keep in mind that the highest TOMI has ever traded at is $7.13, which it reached in June 2023.
The TOMI token pays for transactions on the tomiNet platform and rewards people who help the system operate. 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 users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.