Status price prediction: What’s next for the DApp browser?
Status wants to become the go-to browser for DApps. Will it succeed?
Whether its Google Chrome, Safari, or Firefox, most internet users are familiar with at least one browser. However, the browsers for Web3 apps are not as well-known. Status is hoping to fill that gap.
Through its easy-to-use interface, Status is allowing users to access a range of DApps including DeFi platforms, NFT marketplaces, and games. While thousands of apps have flocked to Status’ platform, investors are not doing the same to its token. Could a resurgence be on the cards for SNT?
What is Status (SNT)?
Status was created to be the Google Chrome of decentralised apps (DApps), an easy to use browser for users to access a range of platforms built on the Ethereum blockchain. Over 2,000 DApps are accessible on Status, ranging from DeFi to crypto games.
The blockchain browser was launched in 2017 and started off as a desktop interface. It has since produced a suite of products, including a messaging platform and a crypto wallet. Status users are now able to message friends, browse apps and send cryptocurrencies.
The Status Network Token (SNT) is a utility cryptocurrency designed to power this ecosystem. By owning SNT, holders become a stakeholder and can contribute to the direction of the network. Its white paper said: “It enables users to steer the direction of development and influence how the network evolves over time.”
As well as governance, the token can be used to pay for services. For example, the Teller network enables SNT holders to exchange cash for digital assets and cryptocurrencies.
SNT’s price history
SNT went live in the summer of 2017 and by 29 June it was priced at $0.05. The utility token stayed around that level for the rest of the year. But it saw its biggest rally to date at the beginning of the following year.
The Status Network Token skyrocketed to an all-time high of $0.67 on 4 January 2018. This breakout coincided with the bullish crypto market at the time. It was also on the lead up to the release of the beta version of its desktop app, which went live later that year.
After the price surge, SNT plummeted and had dropped below $0.20 by early February. The token fell even further the next month, sitting under the $0.10 mark.
SNT saw a slight resurgence in April as it announced a new programme titled Status Incubate. The initiative was designed to support start-ups on the Ethereum blockchain through funding and mentoring. SNT climbed to $0.17 on 29 April.
This rally proved to be only temporary and the utility token continued its bearish trend. It stuck with the SNT for the next two years with it stooping to its all-time low of $0.006 on 13 March 2020.
A new chapter for SNT
SNT finally started climbing again at the beginning of 2021. This followed a quarterly update from the Status team unveiling major milestones, including the mainnet launch of its Ethereum client project Nimbus.
For the first time since 2018, SNT surpassed $0.10 on 10 February. This was two days after these updates were revealed.
The utility token continued to climb over the following months. It peaked at $0.27 on 15 April, which came a day after an update to its desktop beta. Status tweeted: “We are rapidly improving with many bug fixes & improvements, and we need your help to bring this to a stable release.”
SNT rallied again the next month after its mobile app announced compatibility with the Hermez Network. But after peaking at $0.21 on 6 May, SNT dropped and has not surpassed this level since. At the end of June, it had fallen below $0.05.
It managed to surpass $0.10 temporarily in September after it supported the new Ethereum update and improved its wallet.
Yet it continued to fall, diving under $0.10 in December and below $0.05 at the beginning of 2022.
It has recently started rallying again, which followed its listing on Coinbase on 8 March. At the time of writing, 9 March, SNT is hovering at $0.06, up 5% in the past 24 hours.
SNT price prediction
There is a sentiment among Status price predictions that the utility token will grow over the coming years. PricePrediction believes it stay around $0.07 for this year. It expects SNT to grow to $0.24 in 2025 and break past the $1 barrier in 2029. Its Status price prediction for 2030 averages out at $1.49.
Meanwhile, DigitalCoinPrice does not think it can surpass $1, at least not for the next decade. Its Status price prediction for 2022 is to only reach $0.08 and suggests it will not climb past $0.10 until 2025. By 2030, SNT is expected to hit $0.29.
TradingBeasts thinks it will surpass the $0.10 mark by April 2022. But it is only supposed to climb to a maximum of $0.26 in the next three years, according to its Status price prediction for 2025.
While Gov.Capital recognises SNT has been showing a “declining tendency”, it says the utility token is a “good portfolio addition”. The Status coin price prediction suggests SNT to be worth $0.09 in a year’s time and $0.28 in five year’s times.
With the growing adoption of cryptocurrencies and DApps, there is a lot of potential for Status. An easy to use interface for browsing blockchain-based platforms could see huge demand. But its token has struggled to break its price record in the past four years and most predictions do not think it will any time soon.
How many Status are there?
At the time of writing, there are 3.47 billion SNT in circulation. Status has a total supply of 6.8 billion SNT.
Is Status a good investment?
It might be. Status has bold plans to become the go-to browser for Web3 DApps. But its token is struggling to gain attention. It has recently started rallying again, but cryptocurrencies are volatile so you should never invest more than you can afford to lose.
Will Status go up?
SNT price predictions think the cryptocurrency will gradually climb over the following years. PricePrediction believes it can hit $1 by the next decade, however DigitalCoinPrice does not think it can surpass $0.50. Remember, price predictions are often wrong so you should always do your own research before investing.
Should I invest in Status?
It depends. Status has launched a suite of products to make browsing DApps easier and more accessible. But its token has struggled to break its price record in recent years. Tokens can be volatile so you should never invest more than you can afford to lose.