Safe price prediction: What is SAFE?

Can Safe resume its past positive performance after a dip?

Safe                                 
SAFE helps power the AnWang blockchain – Credit: Anwang.com
                                

The SAFE crypto coin has been one of the rare highlights in the crypto market this year, reaching all-time highs and outperforming a bearish sector. But what is SAFE? And where can you find a Safe crypto price prediction?

Let’s see if we can explain that, and take a look at the Safe price prediction, too. 

SAFE explained

The AnWang system, which was originally founded in 2014 and has gone through a number of iterations since then, aims to become the largest secure digital payment and currency platform. The blockchain uses a proof-of-stake consensus mechanism, which means that people can add blocks to the blockchain based on how much of a particular crypto they hold. This is seen as a more environmentally-friendly way of growing a blockchain than the traditional proof-of-work method, which relies on a series of computers solving increasingly complex mathematical equations to add to the chain. 

Pretty much every blockchain and blockchain-based network needs to have its own native token, and AnWang’s is called SAFE. Holders of this coin can take part in the running of the network, and holding the coin gives people the opportunity to add blocks to the blockchain and earn rewards, which are paid out in SAFE. SAFE can also be bought, sold, and traded on exchanges. Something that is worth mentioning about SAFE is that it is, ultimately, based on a fork of the DASH cryptocurrency which, in turn, was a fork of Litecoin.

The protocol aims to be safer and more secure than other blockchains, with the website promoting “optional sender hiding, and receiver hiding”. It also has its own secure wallet, and can also use cross-chain protocols to link with other blockchains. It also has plans for an exchange and a stablecoin. 

Something that is worth pointing out about both SAFE and AnWang is that the whitepaper – in other words, the document that explains what the system is, what it does and what it wants to do – is in Chinese. This means that someone who cannot read the Chinese language will have to make use of a translation tool if they want to find out what it is exactly that the system wants to do. One thing the whitepaper’s translation does point out is that, in order to operate a Master Node on the network, you will need to stake 1,000 SAFE.

It is also important to note that none of the people behind AnWang or SAFE have been named. While this is not necessarily a problem, we do have to note that there are no named people who can take responsibility. We also have to mention that SAFE is not to be confused with SafeCoin, SAFE TOKEN, yieldfarming.insure or SpaceXliFe, all of which use the same ticker.

SAFE price history

Let’s take a look at the Safe price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done can provide some context when it comes to either making or interpreting a Safe price prediction.

When SAFE first entered the open market in May 2019, it was worth about $2.30. It soon fell down, however. Much in line with many coins during the so-called crypto winter that ran from the middle of 2018 to the start of 2021, SAFE largely stagnated, reaching an all-time low of $0.1082 on 23 October 2020.

Even when the markets started to bloom in early 2021, SAFE was a coin that did not show much response to the growing market and did not match its start price until August 2021. In November, though, there were some notable movements, with the coin finally responding to a market that was going through a bullish phase in response to Bitcoin reaching new heights. On 12 November, SAFE hit what was then a record high of $9.93, before a market slump caused, at least in part, by growing concerns about the Omicron variant of Covid-19, before it shot up again to match its then-top price on 11 December. After that, it fell back down and it closed the year at $8.28.

Safe price history
SAFE price history - Credit: Currency.com

While 2022 has, on the whole, been a bad year for cryptocurrency, with the market suffering a series of setbacks and entering bear territory, things have gone well for SAFE – although the coin’s growth was not immediately apparent, with it closing 30 January at $6.53. In February, though, things started to get much better, with it breaking the $10 barrier for the first time, and closing the month at $12.58.

March saw more growth, with it closing the month at $18.87 as it went on a bull run that culminated on 11 April, when it reached an all-time high of $49.08. Although there was a downturn after that, with the market hit by China’s crypto ban, it still managed to close the month at $40.10, with any potential losses at least partially mitigated by the news that the AnWang blockchain had relaunched. 

May was, however, a bad time for cryptocurrency, with the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency causing the market to drop. SAFE was not immune from the turmoil and, on 15 May, it dropped to a low of $21.80. While there was some recovery to see the coin close the month at $27.20, June saw more bad times, with it sinking to a low of $7.89 on 18 June.

There was some fight back following that, though and, on 24 June 2022, SAFE was worth about $17.20. At that time, there were a little over 20.8 million SAFE in circulation out of a total supply of 29.6 million. This gave it a market cap of just over $358m, making it the 217th largest crypto by that metric.

Safe price prediction

With that all said and done, it is time to look at the Safe price prediction. Keep in mind that cryptocurrency price predictions are very often wrong, at least partially because of the inherently volatile nature of crypto. We also need to remind you that longer-term crypto price forecasts are often made using an algorithm, which means that they can change at a moment’s notice.

First, CryptoPredictions has a Safe price prediction for 2022 that sees it close the year at $20.04, before it drops back down to $17.75 in June 2023. A year from then, it should be back up to a fraction of a cent below $27.52 and, 12 months after that, it should be worth $35.24. In June 2026, it will be worth $41.42 before it closes that year at $44.10. 

Next, PricePrediction is very bullish in its Safe crypto price forecast, arguing that it should more than double to reach $44.31 this year and $66.94 next year. In 2024, the coin should be worth $94.46 before it breaks through the $100 barrier to trade at $137.24 in 2025. By 2026, SAFE should be worth $199.38 before it reaches $301.18 the following year and $425 the year after that. It should close the decade at $629.65 and there is a Safe price prediction for 2030 that says it should get to $941.99 before it shoots past the $1,000 mark to trade at $1,342.30 in 2031.  

Meanwhile, Gov Capital suggests that SAFE will close 2022 at $24.24 before it moves to $31.82 on 24 June 2023 and reaches $52.74 a year after that. The site’s Safe price prediction for 2025 sees it start the year at just under $67.47, before it hits a little below $80.77 on 24 June and closes the year at $97.67. On 24 June 2026, the coin should be worth $113.43 and 12 months after that it should get to $151.90.

Finally, WalletInvestor has a Safe coin price prediction that sees it reach $48.42 in a year’s time and a little below $172.17 in five years. 

Final thoughts

Some final things before we finish. Perhaps the most important thing we need to point out is that the documentation for SAFE is entirely in Chinese. While this is not necessarily a problem if you can read Chinese, there will be a considerable number of Western investors who might rather pick a cryptocurrency whose explanation they can understand rather than have to go through an often-unreliable translation software.

Second, while the coin has done pretty well this year, at the time of writing (24 June 2022), it had recently suffered some notable losses. This might lead some people to act cautiously around the coin, which, in turn, may mean that the recovery to previous highs might take slower than it otherwise might, if it does that at all.

Third, its name is not as distinct as it could be. It is pretty easy to confuse it with the four other cryptos that share the SAFE ticker and that’s not to include the likes of SafeMoon.

Finally, we do need to point out that none of the system’s founders have identified themselves. Although this is not too uncommon when it comes to cryptocurrency, there will be people who might otherwise take an interest in SAFE who will, ultimately, be put off by what might be seen as a lack of transparency. As always with crypto, it makes sense to be cautious if you are considering investing in SAFE.

FAQs

As of 24 June 2022, there were a little over 20.8 million SAFE in circulation out of a total supply of 29.6 million.

It might be. This will all depend, however, on whether the system behind SAFE can do more to reach out globally, as well as whether the crypto market can recover from its current bear state. If you want to invest in SAFE, you will need to do your own research.

Possibly. While the forecasts all seem to be pretty optimistic, it is worth pointing out that forecasts are very often wrong. It also needs to be remembered that cryptocurrencies can be highly volatile, and that prices can go down as well as up.

This is a question that you will have to answer for yourself. Before you do so, you will need to do your own research, understand 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 Bel LLC 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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