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
- District0x (DNT) trading activity
- 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 whitepaper.
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 can 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 with 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 for this to happen is yet to be announced.
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 on 27 May 2022 16:40 BST (UTC+1), DNT was trading at $0.049. A circulating supply of 600 million, out of a total token supply of one billion, implies a market capitalisation of $29.37m. That puts the coin at number 517 on the market capitalisation chart. Trading volume in the 24-hour period was $3.14m, or 10.7% of market capitalisation.
DNT’s initial coin offering 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.
District0x (DNT) trading activity
DNT did not manage to make good on the big altcoin bull run we saw in the last quarter of 2021. Its 14 November high of $0.187 was a three-times rise year-on-year, in a season where many altcoins soared well past their all-time highs (DNT’s was seen on 19 April, when it hit $0.49).
In December, DNT dropped 11% to $0.165, before heading down 19% to $0.133 by 1 January 2022. DNT’s value continued to drop throughout 2022, darting below the $0.10 barrier on 21 January.
By 1 March 2022, DNT was trading at $0.074, before heading up to $0.086 by April. The latest exchange value of $0.049 on 27 May 2022 was 76% below the 90-day high of $0.204 observed on 18 April.
What do the forecasters say?
At DigitalCoinPrice, metrics point to a district0x price prediction for 2025 of $0.093. The forecaster’s district0x price prediction for 2022 closes out at $0.064 and its district0x price prediction for 2030 is $0.23. This conservative outlook suggests possible 4.6 times returns over eight years.
At WalletInvestor, sentiment is squarely in the bear position. A 12-month price target of $0.015 is given, dropping further to 40.009 over a five-year timeframe.
Gov.capital does not predict that DNT will break the psychological $1 barrier until past May 2027.
As always, please be aware that online forecasters use highly speculative algorithms. The district0x price predictions mentioned above do not constitute genuine investment advice.
What is in store next?
DNT has been trading negatively for quite some time now, although a slight uptrend since 14 March has seen some positive movements on the moving averages and the Relative Strength Index.
Trading volume against market cap is at 10.7%. 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 line is indicating a slight move towards a bullish market. However, 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 mixed 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. That decision is yours to make, so do your research first.
FAQs
Analysts are fairly modest about 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, however, any and all investments should be backed up by robust due diligence.
That is totally up to you. If you do decide to invest, make sure to only put down as much money as you can afford to lose. Cryptocurrencies are highly volatile and subject to unpredictable price swings.
