Thor price prediction: What’s next for the DeFi platform?
Despite THOR gaining 30% in a day in February, it has not been performing well in recent weeks
A host of crypto start-ups have emerged in recent years, offering investors the chance to earn passive income in myriad ways.
THOR, a decentralised finance (DeFi) platform launched in 2021, is one of these companies. The project invests in a range of DeFi projects, non-fungible tokens (NFTs) and staking pools on behalf of THOR coin holders.
Defining itself as a “multi-chain yield farming protocol,” the project claims to expose investors to the advantages of crypto investing while protecting them from the downsides. According to its website, by balancing risk across various investment strategies and only using experienced “veterans” to come up with investment possibilities, coin holders can successfully “generate passive income with minimal effort”.
Since its launch the coin has experienced significant volatility, but what is the thor price prediction?
Before we look at price forecasts, let’s take a quick overview of the coin itself.
What is thor (THOR)?
Thor says it researches and identifies the most promising opportunities in the crypto sector, both in a bull and bear market. According to its website, the process of earning rewards is as easy as buying THOR tokens, creating a node and earning daily rewards. There is no information available on the founders of the project.
It is worth noting how sparse the website is, and how little information appears to be available about the project.
How does this data impact a thor price prediction for 2022? Or even a THOR price prediction for 2025? Before looking at any forecasts, let’s do a review of the recent performance of the THOR coin.
THOR’s recent performance
The THOR coin exploded immediately after launch, surging from $177.58 on 8 December 2021 to $423.91 on 10 December 2021. THOR subsequently dropped to $213.30 on 11 December 2021 before rising to $387.65 on 12 December 2021. Despite dropping again to $174.01 on 13 December 2021, the THOR coin rose again to $319.57.
Since then, THOR has broadly been on a downward trend, falling to $66.69 on 23 December 2021. Despite rising temporarily to $202.98 on 24 December 2021, THOR fell to record lows of $16.01 on 7 January 2022. Later in the month, the coin began to rise, hitting $233.81 on 26 January 2022. But THOR dropped again by early February, decreasing to $38.90 on 22 February 2022.
The coin lost nearly 70% in the 30 days up to 23 February, but gained 30% in the 24 hours after that.
At the time of writing on 13 April 2022, the price of THOR coin has been trading at approximately $14.88.
THOR coin has no market cap listed on CoinMarketCap. The fully diluted market cap (if the maximum supply was in circulation) of THOR is $304m. There is a maximum supply of 20.5 million THOR coins, and an unknown circulating supply.
How does this data impact a THOR price prediction?
THOR coin price prediction: expert opinion
It’s important when looking at THOR price predictions to remember that while they can be helpful as an indicator of which direction the price may move in, they should be viewed as possibilities rather than absolutes.
With this in mind, let’s look at a couple of THOR price predictions.
PricePrediction.net’s THOR price prediction for 2030 stands at an outlandish $863.33.
DigitalCoinPrice thinks that THOR could be worth $21.70 by 2023, before increasing to $27.41 by 2025.
There is maximum supply of 20.5 million THOR coins, and an unknown circulating supply.
Thor is a very new coin with a volatile price history, so it is difficult to gauge how well it will do in the future. At present, with a fairly sparse website and lack of information regarding the founders, the prospects for the coin remain unknown.
It is always worth remembering that the crypto market is highly volatile, and the price of all tokens and coins can go down as well as up. Never invest any money you cannot afford to lose.
Prediction platforms seem to think the coin will go up in value, but always remember that forecasts, especially longer-term ones, should be viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up-to-date on any developments within the Thor ecoystem that could boost or dampen its prospects.
Remember, investing can be risky: it is important never to invest more money than you can afford to lose.