Phantasma price prediction: Smart NFTs, smarter investments?
Phantasma provides cross-chain, gaming-focused NFT options. Is 2022 set to be a big year?
- What is Phantasma?
- How much potential does Phantasma have?
- Phantasma tokenomics
- What are the forecasters saying?
- Recent trading activity
What is Phantasma?
Before diving into the Phantasma price prediction, let us look at the fundamentals. The company says the Phantasma blockchain was custom-built for cross-chain NFT trading and decentralised video gaming, and provides developers with the tools to create bespoke, scalable in-game economies. It was founded by the Portugal-based programmer Sérgio Flores, and Phantasma’s mainnet went live in October 2019.
Through a partnership with the Melbourne, Australia-based games developer GOATi Entertainment and its Pavillion gaming hub, Phantasma’s network of developers has released a suite of gaming and DeFi applications in the blockchain’s short lifespan.
Phantasma claims to be designed with developers in mind, with a high transaction throughout, very low transaction fees, and supposedly innovative smart NFT design funtions and side-chain architecture.
The platform is powered by SOUL, the native cryptocurrency used for staking, governance and storage allocation.
Phantasma has a suite of DApps and user options in its arsenal. For a comprehensive overview of the project, read our guide. For a Phantasma crypto price prediction, carry on reading here.
How much potential does Phantasma have?
The Phantasma project ticks many boxes and the buzz surrounding it is unsurprising. Considerable gains in the value of its coin continued towards the end of 2021, even when the wider crypto market began to falter.
However, SOUL’s $376m (£277m) market capitalisation is far below that of competing decentralised gaming tokens. GALA, for instance, has a market cap of more than $3bn and a far higher circulating supply of close to 7 billion tokens against SOUL’s 103.15 million.
Furthermore, SOUL’s trading volume is hamstrung by a lack of exchange support, being only available on two minor exchanges, KuCoin and Gate.io, as well as the decentralised exchanges Uniswap and PancakeSwap. Should SOUL achieve listings on Binance or Crypto.com, we could expect trading volumes to shoot up accordingly.
With strong underlying fundamentals and potential compatibility with metaverse platforms, there is certainly growth potential. That said, given the volatility of any and all crypto assets, investors could also lose money without sufficient investment advice. This article should be used for informational purposes only.
SOUL is currently trading at $3.54. A recent 24-hour trading volume of $15.098m amounted to 0.04% of total market capitalisation. SOUL is ranked at number 165 on the crypto charts.
SOUL is an inflationary cryptocurrency. The 103.15 million circulating supply is pegged at a 3% yearly inflation. In addition to that, 125,000 SOUL are minted each month for staking rewards.
Of the 3% inflation, 1% goes to developers, another 1% to Proof-of-Stake (PoS) block producers helping to validate transactions and the remaining 1% to ecosystem incentive payouts.
It should be noted that Phantasma has a dual-token economy. In addition to SOUL, the KCAL token is used to pay minting and transaction fees: thus all NFT creators and traders must hold a certain amount of KCAL. The KCAL token can only be gained through staking a certain amount of SOUL, a process easily done on the native Poltergeist Wallet.
What are the forecasters saying?
Wallet Investor’s SOUL price prediction is bullish. Though its 12-month price target of $4.83 only represents a 34% return, the site’s SOUL price prediction reaches $11.26 over a five-year period.
Over at Gov Capital, the forecaster’s Phantasma price prediction for 2022 caps out at $5.33, while the Phantasma price prediction for 2025 heads up to $10.1; just below a 3x return.
You will find a more bullish Phantasma crypto price prediction at Tech News Leader, which has a target of $22.74 in five years, presenting more than a 6x return for investors at current prices. The online forecaster calls it “a good investment indeed if you want to hold the coin for a long time”.
Jumping further ahead, PricePrediction’s Phantasma price prediction for 2030 stands at $171.47, a healthy 47x return.
Please note that online forecasters should not be considered true financial advice when making a Phantasma coin price prediction.
Recent trading activity
SOUL encountered a strong bull run throughout November and December 2021, outperforming many of its rivals even during a general crypto downturn. An all-time high of $3.8 was reached on 30 November, followed by a swift correction.
After trading sideways for the latter half of December, the coin began another run from the beginning of 2022, starting with an 18.5% climb on 1 January, closing consecutively higher on the following two days.
It was a tug-of-war between buyers and sellers throughout the trading day of 4 January. Prices matched the all-time high, but a long upper wick suggests some strong resistance. A successful rejection could see SOUL returning to the mid $2.25 mark, where most trading activity was observed in the December sideway trade.
Given the exceptional early year performance, moving averages (MAs) show a strong bullish trend, with a gap widening between the 9-day and 21-day MAs.
Potential investors may want to wait to see how the price reacts to the current resistance line that it is teasing. The relative strength index (RSI) suggests an overbought position, which could preempt a sell-off. If so, waiting for the next dip could be recommended.
Regardless of your strategy, please make sure to conduct our own in-depth due diligence. This Phantasma price prediction is for educational purposes only and should not be looked at as financial advice.
There are some positive aspects to the Phantasma price prediction, including strong fundamentals and solid chart performance. With that in mind, all investments are risky and you should never use more capital that you can afford to lose.
Online forecasters are quite bullish on Phantasma’s prospects, with some suggesting 47x by 2030 is possible. In the shorter term, some forecasters predict 6x over five years. That said, online forecasters should not be considered genuine financial advice. Please use as a guide only.
It is suggested to do your research on the underlying fundamentals. Your investment choices are ultimately up to you. This article should be used for educational purposes only.