ARK price prediction: An ecosystem for crypto developers
Despite the hopeful forecasts, ARK’s token for blockchain creators is seeing a downward spiral
- What is Ark (ARK)?
- What does ARK offer developers?
- The ARK cryptocurrency
- ARK’s price history
- Ark price prediction
For those looking to build a blockchain, Ark is hoping to simplify that process with its ecosystem of tools. Almost like a website builder, users can customise a range of different features, such as fees, currency and plugins.
ARK was designed to be the main currency that ties all the developed networks together. Despite having an overwhelming amount of use cases, as of 6 May ARK is down 17.44% on the previous seven days according to CoinMarketCap.
But before we get into an Ark price prediction, let’s find out a little more about the background to Ark.
What is Ark (ARK)?
The Ark ecosystem allows developers to create their own blockchain. Building your own project on the ARK blockchain comes with many benefits, including interoperability, templates and customisability.
When discussing the ecosystem’s mission, the whitepaper states: “ARK acts as a beacon for individuals, groups, and enterprises seeking to apply blockchain technology to both reach their individual goals and affect change in their local community. ARK’s uniquely simple technology stack allows almost anyone to create and deploy standalone blockchains for any use case.”
According to Crunchbase, ARK was co-founded by Travis Walker and Matthew Cox. Based in the US, Walker has currently not listed any previous companies before ARK on his LinkedIn profile. Meanwhile, Cox has previously founded the IT service provider CyberWerks.
What does ARK offer developers?
Deployer is Ark’s tool for launching a developer's blockchain. It includes customisable data fields such as name, transaction fees, ticker, symbol and others. This gives power to the developers to create a blockchain that suits their needs. The tool also has a management system for developers to organise their teams.
Other developer tools include Ark software development kit (SDK) that adds more customisability, such as currency selection. Projects built on ARK can also make use of its many plugins and its native wallet.
One of its most persuasive features is access to Ark’s MarketSquare, an exploration page. From crypto games to DeFi to even health DApps, users can browse from the many projects being created on the network. This in turn helps promote those building on the network.
The ARK cryptocurrency
ARK is the ecosystem’s native cryptocurrency and has a variety of different uses. Mainly, it is utilised as a fast and cheap store of value by network users and developers.
Its white paper states: “ARK can act as a unifying medium of exchange as needed within the ARK ecosystem, due to its reach and liquidity. With the advent of the ARK Pay module as well as ever-evolving, intuitive lite clients, ARK is well positioned to be an effective network for both store-of-value and value transfer.”
The cryptocurrency runs on a “delegated proof of stake” consensus where 51 delegates are nominated to validate or “forge” blocks. ARK holders can stake their tokens to nominate a delegate, which minimises centralisation risks that have affected other networks.
But while ARK is teeming with utility, its recent past performance has shown a reluctance from investors.
ARK’s price history
The Ark network went live in 2017 along with its native cryptocurrency. ARK was listed on CoinMarketCap on 22 March that year at $0.03. It did not see much action inititally, but it turned bullish at the end of the year and experienced its largest breakout to date.
The second version of Ark launched at the beginning of December and its price subsequently took off. Then, on 9 January 2018, it was mentioned in a peer reviewed paper. It also released an update to its wallet the same day, which improved the user interface for delegate voting. ARK skyrocketed to its all-time high of $10.91.
However, it was unable to sustain this valuation and eventually plummeted over the coming months. By the end of that year, ARK had dropped well below $1 – and closed 2018 at $0.38.
From there it traded sideways until its next rally took place over two years later. The tipping protocol CoinKit was integrated into Twitch on 24 March 2021, which allowed users to send ARK to creators on the livestreaming platform.
It proved to be a busy month as the ecosystem completed its MarketSquare feature in late-March as well, and opened it up to ARK team members. Just a few days later, ARK peaked at $3.98 on 30 March.
ARK came close to that level again later that year in September. Version three of the network, which had been in development for over a year, officially went live on 22 September. This upgrade improved the infrastructure, tools, and many other aspects of the ecosystem.
It saw another rally in late-March 2022 as a new update to version three went live, which fixed bugs and improved security. ARK peaked at $1.67 on 28 March, but has since fallen and at the time of writing on May 6 2022 is trading at $0.77. But what does this mean for an Ark price prediction?
Ark price prediction
A bullish outlook for ARK is given by most forecasters. In its Ark coin price prediction, WalletInvestor says it is an “awesome” investment and will climb above $1 in a year to $1.36 – and then go even further to reach $3.49 in five years’ time.
Meanwhile, TechNewsLeader forecasts an Ark crypto price prediction that will surpass $1 this year to reach $1.12 – and then hit $3.54 by 2025. The cryptocurrency will then skyrocket to $21.24, according to its Ark price prediction for 2030.
A similar forecast comes from PricePrediction which suggests it will climb above $1 in 2022 to reach $1.18. Its Ark price prediction for 2025 outlines it will close in on the $4, reaching an average price of $3.63. By 2030, its Ark coin price prediction stands at $24.23.
For DigitalCoinPrice, its Ark price prediction for 2022 averages out at $1.01. By 2025, the cryptocurrency is said to only be at $1.55. And at the beginning of the next decade, Ark will be sitting at $3.56.
How many Ark are there?
According to CoinMarketCap, there is a circulating supply of just more than 136.8 million ARK.
Is Ark a good investment?
It might be. ARK is empowering developers to create their own blockchains. With its customisable fields, interoperability and MarketSquare explore page, Ark could be a handy ecosystem for developers.
However, developers and investors should always conduct thorough research before investing in any crypto platform.
Will Ark go up?
An upward trend is forecasted by most ARK price predictions. TechNewsLeader is one of the most bullish, saying it could skyrocket to a new high of $21.24 by 2030. But price predictions are often wrong as cryptocurrencies are volatile, so you should never invest more than you can afford to lose.
Should I invest in Ark?
It depends. There are many different project being built on the ecosystem, ranging from non-fungible tokens (NFTs) to health decentralised applications (DApps). ARK was built to be the main utility token for these platforms. However, this has not translated into a successful price history as yet.