RAMP price prediction: Where next for the DeFi platform?

Despite underperforming in 2021, the RAMP price has surged this year. What could this mean for the rest of 2022?

Representation of RAMP tokens and its company name on a black and white background                                 
RAMP has a long way to go before becoming a frontrunner on the DeFI scene – Photo: Shutterstock
                                

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RAMP, founded in 2019 and launched in 2020, is a multichain lending platform that allows users to maximise the value and returns on their cryptocurrency.

Users can gain yields on collaterised assets, and in exchange buy or borrow the stablecoin rUSD – which can then be used to invest in new investment opportunities.

According to RAMP, users can “move stable coins seamlessly across multiple blockchain networks”.

The RAMP token, issued as an ERC-20 token on the Ethereum network, has a variety of functions in the protocol, including being used to unlock additional liquidity.  

So how exactly does the project work? And what is the RAMP price prediction?

What is RAMP (RAMP)?

According to RAMP’s online documentation: “RAMP is a [decentralised finance] DeFi lending platform that give users some of the highest deposit yields and lowest borrowing fees on collateral assets within Binance Smart Chain and Polygon.”

As the DeFi crypto industry has expanded, new avenues by which value can be extracted from digital assets has also exploded.

On the RAMP protocol, users can deposit assets in auto-compounding vaults to receive high yields. They can then borrow or buy rUSD stablecoins. Users can then, according to RAMP, use the acquired stablecoins to purchase any tokens on the decentralised exchange PancakeSwap or on QuickSwap.

The project’s cross-chain liquidity feature means rUSD can be sent “seamlessly between Binance Smart Chain and Polygon to access new tokens”.

The token that drives RAMP

According to RAMP, the token is “issued as a utility token powering platform value and aligning the interests of all platform participants”. RAMP is also a governance token, allowing users to get involved in participating in the growth of the protocol.

Through token burns, RAMP holders get value back on the tokens they hold. As well as being used as a collateral asset to unlock additional liquidity, users can mint rUSD at zero fees when they use RAMP as collateral.

RAMP’s official literature explains: “To avoid high gas fees on the Ethereum network, users can choose to access the RAMP BEP20 token on Binance Smart Chain, or POS-RAMP token on Polygon (Matic Network) instead of Ethereum.”

Who established RAMP?

But what about the people behind RAMP? It was co-founded by Lawrence Lim and Loh Zheng Rong.

Lim, who is based in Singapore, completed his undergraduate studies in business, specialising in banking and finance at the Nanyang Technological University in Singapore. He worked in asset management for JPMorgan before moving on to KPMG Corporate Finance. He subsequently worked as head of growth at IOST before founding RAMP in Singapore, where is currently the project lead.

Rong holds a degree from the Singapore Management University in business administration and financial wealth management. He is a serial entrepreneur having co-founded dining rewards company Gastro Couture in Singapore, online tender platform Singapore Tender and credit history business Toucanapp. He also worked as a chief innovation officer at 2359 Media in Singapore. Before founding RAMP, he also co-founded blockchain start-up NOX.

How does this information impact a RAMP price prediction for 2022? Or even a RAMP price prediction for 2030?

Before looking at forecasts, let’s first look at the coin’s recent performance. 

Price history: What does it mean for a RAMP price prediction? 

While many feel it is helpful examining an asset’s price history, past performance is not a reliable indicator of future results. Keeping that in mind, let’s take a look at how RAMP has fared. 

According to Yahoo Finance, the token rose after launch from an opening price of $0.0177 on 21 October 2020 up to an intraday high of $0.0569 on 25 November. From there, RAMP traded sideways until it hit the daily low of $0.0353 on 3 January 2021, just before it surged in a few days to a daily high of $0.272 on 13 January.     

Volatile trading ensued until RAMP slipped to an intraday low of $0.2120 on 5 March. But then, in a little over two weeks, it rocketed to its current all-time high, according to CoinMarketCap, of $1.03. From there it slipped to a closing price of $0.9659 on 9 April and downtrended steadily, closing next at $0.4106 on 24 April and $0.1487 on 23 May 2021. 

From this point, RAMP uptrended to a closing price of $0.4737 on 6 September 2021 before downtrending steadily once more to $0.0704 on 15 March 2022. By 5 April, the price had risen in value to $0.127.

As of 30 June 2022, RAMP is trading at $0.04932. There is a current circulating supply of 477,838,740.42 RAMP tokens and a maximum supply of one billion tokens. Meanwhile, the token has a market cap of $23.5m.

But how does this impact a RAMP price prediction?

What do the experts say about a RAMP crypto price prediction?

Before looking at online forecasters, it is important to always remember that price predictions are best viewed as possibilities of what could happen in the future as opposed to absolutes.

Keeping this in mind is especially important when looking at long-term forecasts because they are frequently wrong. This is due to the inherent volatility of the market, but also the many variables that may affect the future price of any coin or token.

With this in mind, let’s look at some RAMP price predictions.

Gov.Capital, in a bullish forecast, predicts the token could be worth $0.22 in a year’s time and suggests the token will be a negligible value in the coming weeks.

In contrast, DigitalCoinPrice forecasts that the average RAMP coin price prediction for 2023 could be $0.0724. The website’s RAMP price prediction for 2025 stands at $0.0963.

Meanwhile, WalletInvestor offers a pessimistic outlook, suggesting the coin could go down to $0.003 in a year’s time.

FAQs

As of 30 June 2022, there is a current circulating supply of 477,838,740.42 RAMP and a maximum supply of one billion tokens (48%).

Potentially. While the project seems to have an interesting approach in extracting maximum value for investors, the token has performed pretty dismally over the past year. Saying this, early signs of recovery suggest the token could be seeing a reversal of fortunes. 

Always remember crypto is a highly volatile asset. Never invest more than you could afford to lose. 

It could go up, though the experts cited in this article seem bearish on the RAMP token. 

Remember that forecasts can often be wrong so always take them, especially long-term ones, with a pinch of salt. 

Investing is a highly personal endeavour based on individual financial goals – and whether it’s right for you to invest or not is a decision that only you can make.

Your decision to trade depends on your attitude to risk, your expertise in this market, the spread of your investment portfolio and how comfortable you feel about losing money.

Further reading

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