Badger DAO (BADGER) price prediction: What is Badger DAO?

Is the future of BADGER written in black and white?

BADGER                                 
Can BADGER make a recovery from recent setbacks? - Photo: Shutterstoclk
                                

Contents

What is Badger DAO (BADGER)? Badger DAO aims to link Bitcoin and Ethereum. Let us explain that, and also look at Badger DAO price predictions.

Badger DAO explained

The biggest cryptocurrency around is, and always has been, Bitcoin. Satoshi Nakamoto’s brainchild was the first decentralized cryptocurrency and it remains the biggest, dominating the market to the extent that any coin that is not BTC on a blockchain that is not Bitcoin is referred to as an altcoin, in that its defining characteristic is that it is not Bitcoin. 

However, there are drawbacks with BTC, one being that the coin and the blockchain are not very flexible compared to other cryptocurrencies and networks. While Bitcoin serves as a store of value, and the blockchain exists to support the coin, there is not much else that can be done with it, even if it is the number one cryptocurrency by market capitalisation. This contrasts it with Ethereum, the blockchain home of the number two crypto, Ether, which has a mumber of development facilities.

The Badger DAO (decentralised autonomous organisation) aims to change all that. This crypto organisation was set up by the Canadian crypto entrepreneur Chris Spadafora in 2020, and aims to link the worlds of Bitcoin and Ethereum. It does this, at least in theory, by allowing people to invest Bitcoin and related cryptos in vaults called Setts. These Setts are supposed to allow people to earn yield (basically, crypto interest) in a way that will also help them save on crypto transaction costs. 

Every crypto platform needs a native token and Badger DAO has two. One of them, DIGG, is basically pegged to the price of Bitcoin, and, to quote the whitepaper: “The main goal of this product is to remove the need for centralised parties to take custody of your BTC in order to be able to use it within DeFi protocols. DIGG relies on elastic parameters built into its smart contracts in order to maintain a peg to BTC.”

The other Badger DAO token is BADGER, which serves as a governance token, allowing people to vote on changes to the network based on how much they hold. This can also be used to stake in return for rewards, and it can be bought, sold and traded on crypto exchanges.

 BADGER operates on the Ethereum blockchain, so it is, technically speaking, a token, rather than a coin. You will see references to the BADGER coin or a Badger DAO coin price prediction. They mean the same thing, even if they aren’t technically correct.

BADGER price history

Looking at the BADGER price history, while past performance should never be taken as any indicator of future results, knowing what the token has done in the past can help give us some much needed context if we either want to interpret a Badger DAO price prediction or else make one of our own. 

When BADGER came onto the open market in early December 2020, it was worth about $6. Like many freshly launched cryptocurrencies, its price fluctuated somewhat and, by the end of the year, it was worth $7.20. In the early 2021 crypto boom, it took off, hitting a high of $89.50 on 9 February 2021. It then slumped to $25.02 by the close of 18 May, followed by the Great Crypto Day Crash of 19 May 2021, when the price of BADGER dropped to an intraday low of $12.41. By 21 July, it was down to an intraday low of $6.57. 

In August, BADGER was able to return to $33.94 before dipping down to close the month at $24.72. However, the token reached $52.73 on 3 November. Concerns about the Covid-19 crisis saw it close the month at $26.38. Then, on 2 December, it was announced that the Badger DAO had fallen victim to a hack which saw cryopto worth $130m stolen. This, and an already quiet market, meant that the token closed the year at $14.46, up more double year on year, but well down from its peaks.

BADGER price history
BADGER price history - Credit: Currency.com

So far, 2022 has been a bad year for crypto, and BADGER has, like a lot of other cryptocurrencies, failed to cover itself in glory. In the aftermath of Russia’s invasion of Ukraine on 24 February, it fell to $6.95. In May the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency saw the market take a massive hit and, in the turmoil, BADGER fell to a then all-time low of $3.90 on 12 May. The cancellation of withdrawals on the Celsius crypto lending platform confirmed that the market was a bear one, and BADGER dropped to an all-time low of $2.63 on 18 June. By 5 July 2022, it was trading at around $3.

At this time, there were a little over 12.5 million BADGER in circulation out of a total supply of 21 million. This gave the token a market cap of just under $38m, making it the 411th largest crypto by that metric.

Badger DAO price prediction

What about Badger DAO price predictions? Price forecasts, especially forecasts for something as intrinsically volatile as cryptocurrency, are very often wrong, and longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. That said, CoinArbitrageBot makes a Badger DAO crypto price prediction that says the token will shoot up to reach a little under $16.72 in 2022, before it gets to $29.75 in 2023. In 2024, BADGER should be worth just under $48.14, it says, while the site makes a Badger DAO price prediction for 2025 that sees it reach a little under $77.89. 

PricePrediction.net says that BADGER should reach $5.36 this year, $7.71 next year and $11.42 the year after that. In 2025, the token should be trading at $15.96, it thinks, and should get to $23.41 in 2026. By 2027, the token will be worth $34.45, PricePrediction believes, and it thinks it will get to $50.88 by 2028 before closing the decade at $73.92. It has a Badger DAO price prediction for 2030 of $109.49, before the crypto is forecast to reach $160.64.

CaptainAltCoin has a Badger DAO price prediction for 2022 which sees it trade down slightly at $3.06 at the end of the year, having risen from a low of $2.07 in September. By July 2023, though, it should be worth $4.67, the site says, suggesting it can get to $11.12 in 2025.

Finally, Gov Capital, often one of the more bullish crypto price forecasting sites, is remarkably gloomy when it comes to making a BADGER price prediction. It says that the token should have dropped to being worth nothing by August, and should continue to be effectively valueless, turning into a de facto dead coin, by July 2023. 

Final thoughts

While the idea of crossing over Bitcoin and Ethereum is a valid quest, there are other ways, such as  the crypto Wrapped Bitcoin, in which a similar result can be achieved.

Second, after it was hacked for a serious amount of crypto in early 2021, there may be some concerns about how secure the Badger DAO actually is.

Third, the crypto market is in a bearish state this year and BADGER has been hit pretty badly. There is no telling if and when the token will recover. As always with cryptocurrency, you will have to be careful if you want to invest in BADGER.

FAQs

How many Badger DAO are there?

On 5 July 2022, there were a little over 12.5 million BADGER in circulation out of a total supply of 21 million.

Is Badger DAO a good investment?

It can be argued, at least by proponents of buying during dips, that now might be a good time to invest in BADGER. That said, some caution is needed. We have seen the price of BADGER fall considerably over the past 12 months. Remember, cryptocurrencies can be highly volatile and prices can go down as well as up. You will need to do your own research and never invest more than you can afford to lose.

Will Badger DAO go up?

Supporters of buying during the dip might well tell you that cryptos like BADGER, which has lost value over the past 12 months, are worth looking into. On the other hand, it has been in a bearish place for some time now. Regardless, you will need to remember that cryptocurrencies can be highly volatile and prices can go down as well as up. You will need to do your own research and never invest more than you can afford to lose.

Should I invest in Badger DAO?

This is a question that you will have to answer for yourself. Before you do so, you will need to do your own research, remember that prices can go down as well as up, and never invest more money than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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