DNT coin price prediction: Will we see another pump this year?
The district0x Network has stagnated, but the token soared early in 2021. Was it a one-off?
Contents
- DNT: key figures
- How has DNT acted over the year?
- What do the forecasters say?
- What is in store next?
- FAQs
The District Network Token (DNT) is the native ERC-20 token of the district0x Network. A “cooperative marketplace of decentralised marketplaces and communities”, as it is called in its white paper.
Built on Ethereum architecture, the district0x Network aims to establish a decentralised marketplace economy as part of the Web3 movement. It provides developers with open-source blockchain foundations to create their own “districts”, which could range from job sites to NFT exchanges.
As a governance token, DNT grants token holders voting rights concerning the operation, branding, design, functionality and conduct of the blockchain it powers, via the concept of “staking”.
Additionally, token holders will have the power to vote on whether proposed districts should be allowed onto the network via the District Registry.
Despite launching in 2017, the district0x Network is still not fully operational. The design and creation platform is not yet open to the public. Therefore, proposed districts may only be launched through the approval of the founders; only three have been launched in more than four years.
Furthermore, governance of the network is still centralised.Handover to token holders is part of the roadmap, but a specific date is yet to be released.
If you want to discover more, we have a detailed breakdown of the district0x Network here. Read on to learn more about the DNT coin price prediction.
DNT: key figures
Before we dive into the DNT crypto price prediction, let’s go over a few key details.
At the time of writing, DNT was trading around $0.17. A circulating supply of 600 million out of a total one billion token supply implies a market capitalisation of $99.4m. That puts the coin at number 476 on the market cap chart.
Trading volume on 30 November 2021 was $9.31m. This is a meagre 9.7% of market cap, a worrying sign of inactivity.
DNT’s initial coin offering (ICO) in July 2017 saw 60% of tokens distributed among participants and raised a total of $9m. Just under a fifth (18%) is held for future liquidity. The majority of the remainder is held by co-founders Matus Lestan and Joe Urgo.
How has DNT acted over the year?
DNT’s price movements followed that of many alt coins throughout 2021. After a period of general inactivity since 2019, we can observe a massive uptrend in the first quarter, culminating in a high of $0.36 on 19 April.
By comparison, that figure represents a 900% year-on-year surge, propelled by a trio of massive daily pumps in the first quarter.
The subsequent alignment dragged the price down to the range of $0.14-$0.18. Although some analysts swore by another September pump in their DNT coin price prediction coverage, those forecasts proved unfounded.
What do the forecasters say?
While forecasters cannot generate a district0x price prediction for 2030, we can observe some nearer estimations.
At Digitalcoin, metrics point to a district0x price prediction for 2025 that just surpasses the psychological $0.50 mark. Against today’s DNT price, that represents close to triple the returns.
The forecaster’s district0x price prediction for 2022 closes out at $0.25. While modest, it still represents a bullish trend over the coming year. Sentiment spread is rather hesitant: 10 sell ratings, 11 neutral and five buy.
At Wallet Investor, sentiment is slightly more bullish. A 12-month price target of $0.323 is given, rising to $0.923 over a five-year timeframe.
Gov Capital actually predicts that DNT will break the psychological $1 barrier some time in 2026.
As always, please be aware that online forecasters use highly speculative algorithms. Predictions do not constitute genuine investment advice.
What is in store next?
DNT has been range trading for quite some time now. Relative strength index (RSI) sits just above the 50 mark, indicating neither an overbought nor undersold trend.
A bearish crossover of moving averages was witnessed on 19 November, then proceeded to level out in the week following.
Trading volume against market cap is at 9.4%. This could be construed as a negative sign, since trading activity of circulating tokens is significantly below the circulating supply.
The moving average convergence divergence (MACD) line is indicating a slight move towards a bullish market. At time of writing, a buy crossover was witnessed. However, in a ranging market, there is a good chance that this momentum will fail to sustain itself in the medium-to-long run.
Fundamentally speaking, district0x is not hugely vocal about its imminent plans. With a quiet release schedule, low trading activity and a ranging chart trend, it is not hugely likely that we will see a spike in DNT in the short run.
Of course, predictions are speculative and do not constitute official investment advice. Those decisions are up to you, so do your research first.
FAQs
Analysts are fairly modest on DNT’s prospects. Given average uptake of the district0x Network, it is safe to say that there is a lot of work to do before DNT becomes a popular investment. The first quarter of 2021 saw numerous large pumps, though these gains were corrected over time. This creates mixed signals, so please invest with caution.
DNT might go up. Most forecasters believe that it will over time, albeit modestly. Given the volatility of crypto assets, any and all investments should be backed up with robust due diligence.
That is totally up to you. If you do decide to invest, make sure to only put down as much as you can afford to lose. Cryptocurrencies are highly volatile and subject to unpredictable price swings.
