Harmony Coin Price Prediction GBP: A Little Known Ethereum Competitor | TechHarry

Price prediction of Harmony ONE coin GBP-USD

During a big downturn in the crypto market, Harmony (ONE) has plunged harder than expected. As of Friday the 17th of December, it was down 47.51% from its all-time high on October the 26th. Do you know why? Let's first take a little context.

Harmony coin has gained big popularity as a platform for creating Decentralised Applications (DApps) that is said to be faster and more secure than Ethereum. That's why we can see most experts are bullish on Harmony and expect it to be worth upwards of $1 by 2024.

Harmony (ONE) began its journey this year at $0.003102 AUD (around $0.0022 USD) per token and gained up to its all-time high of $0.285 AUD ($0.20 USD) with a very comfortable 10,000% return for the very early investors.

As of 17th December, ONE coin was trading with the 24-hour trading volume of $106,940,035 AUD. Due to its relatively small market capitalization of $1.7 billion AUD, we can say Harmony is one of the more volatile cryptocurrencies available in the market.

Harmony (ONE) AUD Price Chart
Harmony (ONE) AUD Price Chart | ImageCredit: CoinMarketCap

What is Harmony?

Harmony was developed as a platform that aims at scalability and interoperability. It was founded in 2018 by recent CEO Steven TSE. Harmony's blockchain can be easily upgraded as adoption grows and allows for developers to transfer their pre-existing applications and digital assets more efficiently than anywhere else.

That's why Harmony (ONE) is quite attractive for both investors and developers that were facing high 'gas' fees, slow transaction speeds, and need-to-upgrade communication models of the Ethereum network.

How Many Harmony (ONE) Coins Are There in Circulation?

Harmony (ONE) has a maximum supply of 12,600,000,000 (12.6 billion) tokens. As of November 2021 (verified on CoinMarketCap), the circulating supply on the market is about 11.47B ONE.

Away from the total supply of ONE token, 22.4% were dedicated to the initial seed sale. Another 12.5% were set aside for an additional Launchpad sale. The Harmony founding team and developers received 16.9% of the total supply. About 26.4% of ONE token was dedicated to protocol development. Another 21.8% were dedicated to ecosystem development.

Is Harmony Actually Effective to Compete with Ethereum, Solana, and Other Market Leaders Right Now?

Harmony is making big moves to increase the adoption and usability of its blockchain among developers and users. While this year, they have announced full Ethereum compatibility. Thus, they have allocated $421 million AUD in funding to new developers and successfully offered new services for DeFi and NFTs sectors. But with these new developments underway, most analysts are still confused whether Harmony can ever compete with Ethereum, Solana, or other market leaders.

Recently, Capital.com analyst Mikhail Karkhalev wrote on 7th December, "The competition for dApps platforms is intense: Ethereum, Cardano, and Solana, regardless of bandwidth, are the market leaders and it will be a challenge to displace them from their positions."

“In my opinion, Harmony will be able to find its audience and help a couple of promising projects grow, possibly from the IoT or the financial space. However, the project might remain in the shadow of more popular brands, as it has nothing principally new to offer,” Karkhalev added.

“But, of course, no one is taking away the potential value and future prospects. If they manage to build a competent marketing policy, growth of the project is inevitable,” said Karkhalev.

Harmony Price Prediction 2021

Analysts from DigitalCoin predict Harmony to grow sustainably in price moving forward, expecting a gradual increase to $0.283 USD ($0.397 AUD) by the end of 2021. This is just one selection of analysts though – others have different takes.

Harmony Price Prediction 2022

Despite most analysts and crypto experts maintaining an overall bullish sentiment for the growth-oriented business model of Harmony, they conclude it is unlikely that Harmony will ever grow enough to legitimately challenge the market leaders. Wallet Investor’s automated forecasting ranks ONE as an “awesome” long-term investment.

According to its projections, ONE can reach a maximum price of $1.181 USD ($2.54 AUD) by mid-2022. TradingBeasts, for their part, forecast ONE’s price to hit $0.23 ($0.321 AUD) by the beginning of 2022. They are doubtful that Harmony has what it takes to massively increase in value long-term and predict a maximum price of approximately $0.29 ($0.402 AUD) by the end of 2023.

Harmony Price Prediction 2025 (and beyond)

Analysts from DigitalCoin reckon Harmony could reach $0.337 USD ($0.473 AUD) in 2022, $0.402 USD ($0.564 AUD) in 2023, $0.586 USD ($0.823 AUD) by 2025 and $0.868 USD ($1.21 AUD) by the end of 2028. According to Wallet Investor’s automated forecasting, Harmoney could attain a price target of $1 USD ($1.40 AUD) per token by March 2025.

Note: I do not recommend any crypto coins mentioned above. What I have written above is just my personal thinking. Do your own research before investing in any of the cryptocurrencies.

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