Bitcoin, Ethereum, and Dogecoin have all reached new highs that only a few investors could have expected a year ago. Besides, excess money from stimulus packages targeted at helping the poorest people pay their rent has ended up in brokerage accounts that enable free trading. Meanwhile, as the pandemic shut down companies around the world, individuals have spent more time at home and in front of screens, finding alternative ways to earn money.
Perhaps, stock trading restrictions imposed by brokerage firms earlier this year may have pushed some Reddit day traders to crypto. And top names and institutions embracing cryptocurrencies, the listing of cryptocurrency exchange Coinbase Global Inc. in the U.S., has been a surplus to the rally.
And this craze is beyond Bitcoin, Dogecoin, or the mainstream crypto tokens. The demand for non-fungible tokens, or NFTs, has sparked a surge in activity on Ethereum, the blockchain-based computer network that underpins the majority of NFTs. Generally, NFTs are bitcoin-like tokens that are linked to a digital work of art or other physical object and sold as a one-of-a-kind digital asset. NFTs enable the creation of digital scarcity, which has never been done before. When a commodity is in short supply, its value rises. NFTs make it easier to monetize services and experiences by providing a mechanism to tokenize them.
And with that, cryptos associated with NFTs have boomed their way into the market. Ethernity Chain (ERN) is one such token. The token crossed the $69 mark on 27th March this year, and the price came down during the major market-wide correction last month. The token is currently trading at $9, with a market cap of $88 million. Ethernity Chain is a blockchain-based platform that allows users to take advantage of non-fungible tokens’ growing popularity. The token has increased by 12.86% in the last 24 hours, at the time of writing.
Hence, if you’re considering investing in ERN Token, then knowing what others have to say about it can be a helpful insight. This article will provide you a quick overview of the price projection for the ERN Token in 2021 and beyond (up to 2025). The goal is to assist you in determining whether ERN Token is a viable investment.
What is the Ethernity Chain?
ERN is an ERC-20 proof-of-stake (PoS) token based on the Ethereum network, and as such, it is secured by its blockchain. Ethernity Chain was funded through a public sale on the Polkastarter platform on March 8, 2021. To increase the value of its ERN coin, the project aims to establish beneficial conditions for all active members of the community. Ethernity received a round of strategic investments from Black Edge Capital, Morningstar Ventures, Spark Digital Capital, Woodstock, and Genesis Block Ventures before launching ERN. The project’s creators describe it as a hybrid DeFi/NFT solution with authenticated NFTs. All NFTs can be bought and traded on-chain in the Ethernity Chain ecosystem.
Users can own unique digital artifacts and artwork that are tokenized and traded on the blockchain with Ethernity Chain. The gaming, music, sports, and real estate businesses will all benefit from it. The potential for NFTs, on the other hand, is unprecedented. Moreover, authenticated non-fungible tokens (ANFTs) are used by Ethernity Chain to address the potential.
The Ethernity Chain ecosystem has deep relationships with major musicians and crypto influencers, all with the common objective of bringing NFT mainstream adoption while contributing to charity causes. Furthermore, Ethernity Chain artists can donate a portion of their NFT sales earnings to a charity of their choice.
How Does Ethernity Chain Work?
Ethernity Chain blends the usefulness of DeFi with NFTs to offer an exclusive conduit to rare, collectible content from well-known figures and renowned digital artists. Ethernity Chain creates limited edition non-fungible coins that are blockchain authenticated. The physics of Ethernity, on the other hand, are not especially complicated:
- First, an artist creates a piece of digital art.
- The digital artwork is then validated on Ethernity and displayed as an icon.
- Following that, an auction is held in which a restricted number of the artwork is purchased.
- The non-fungible tokens are minted by the accounts that win the auction.
- A portion of the auction revenues, as well as future purchases, are donated to organizations.
- Since this owner of the digital artwork owns the ANFT on the blockchain, they can auction off the work themselves.
Ethernity follows a for-profit business model to continue developing and expanding its offerings. However, its primary focus is on philanthropic causes. Users may contribute up to 90% of the funds used to purchase digital art to charity, with the remaining 10% split between marketplace/gas fees and Ethernity.
What is the ERN Token?
On March 8, 2021, Ethernity Chain’s token was released in an initial decentralized exchange offering. The IDO was held on the Polkastarter platform and sold out in minutes, raising $275,000 in total. On cryptocurrency exchanges, Ethernity Chain Token is denoted by the symbol ERN and is used to give liquidity to ERN pools, where holders can farm unique authenticated non-fungible tokens. ANFTs obtained through farming can be traded for profit or donated to charity.
ERN is also a governance token because it lets users vote on proposals that could fundamentally modify the platform in a decentralized method. The ERN token is essential to the project’s community-centric ethos and helps to preserve a degree of decentralization.
What happens to the tokens purchased with aNFTS?
- ERN is used to purchase aNFTS (“authenticated NFTs”).
- When Ethernity Chain receives ERN tokens as payment for NFTs (this includes NFT auctions, direct NFT sales, and NFT packs), 75% of the ERN tokens are locked in the Ethernity Chain Reserve smart contract for two years.
- They’ll periodically unlock tokens and replenish the Staking & Rewards Pool for Liquidity Providers after two years.
- Because the more NFTs sold, the fewer tokens are in circulation, the loop creates organic scarcity.
Users can either buy ERN directly or use their LP stakes to gain ERN, which they may then use to buy aNFTs.
Price Analysis for Ethernity Chain Token
ERN Token Price History
At the moment, Ethernity Chain is one of the most popular NFT platforms. In March, the value of its utility token, ERN, increased dramatically. It was advertised for $0.275 when it first launched on March 8, 2021, however, this amount quickly soared to $3.50 once its IDO on Polkastarter concluded. It was trading at $33 within five days, and on March 27, 2021, it hit an all-time high of close to $74. Although the price has now decreased to $9, its price trajectory in less than a month indicates that it has a lot of promise.
Factors Affecting the Price of ERN Token
Ethernity is pursuing its goal of popularising NFT-based digital art and helping good causes by forming connections with key people in the blockchain, music, and entertainment industries. Celebrities can use Ethernity Chain to promote artwork or custom card tokens while also earning funds for organizations. Ethernity Chain makes selling NFTs on the network simple for artists, brands, and influencers.
Ethernity just took a giant step toward transforming the licensing industry by teaming up with Jason Hauser, a well-known digital artist. This is consistent with Ethernity’s theme of collaborating closely with top musicians to appropriately promote them. This can have a major effect on the price of the ERN token. More high-profile Community Drops with high-profile digital artists are projected to occur as time goes on.
Price Prediction of ERN Token in 2021
You can generate a relatively accurate Ethernity Chain price prediction for 3, 6, and 12 months ahead of time using support/resistance, trendlines, moving averages, and simple indicators like the RSI. In the following few months, one can believe the price will be somewhere around $75. We believe ERN has a strong possibility of reaching $75 in 2021 based on current trends, investor attitude, and the overall direction of the cryptocurrency market, as long as the trend continues and the team continues to work on their products and relationships.
Price Prediction of ERN Token in 2022
The ERN Token will be used to back and manage the Ethernity Chain ecosystem. ERN Staking will be a part of this initiative, with stakers traveling to farm unique NFT editions in exchange for prizes. The ERN pool will be provided with liquidity by the community. Holders of ERN tokens will be able to vote in the Ethernity ecosystem governance for future proposals and progress. Therefore, with everything falling into place, and given that no bulls hit the market yet again, the price of the token is expected to reach the $166 mark.
Price Prediction of ERN Token for the Next 5 Years
From 2023 to 2025, we expect the price of ERN to range between $250 and $450, as the team continues to develop their products and the target audience adopts them. This ERN price forecast is based on various data sets and predictive modeling, with the assumption that the present long-term trend driving the price of ERN continues to rise with no notable setbacks.
Given the foundations of the Ethernity Chain and historical price data of the ERN token, an ERN price projection of roughly $250-$450 is what our analysis reveals to be attainable in 2023-2025 based on prior pricing history, predictive modeling, and investor sentiment scraped from multiple sources online.
ERN Token Price Prediction by the Market
Ethernity Chain and the ERN token appear primed to drive the already thriving NFT market with Authenticated non-fungible tokens, according to endorsements from Ellio Trades, Olive Allen, and other prominent influencers in the NFT market (ANFTs). With a large internet following before introduction, many people anticipate that this platform will be widely used.
Therefore, most of the predictions about this token are in favor of it. However, some well-known market analysts say otherwise. Given below are some of them. We are putting them down for you so that you can have views from all sides.
If you’re seeking a high-returning virtual currency, ERN may be a terrible, high-risk 1-year investment alternative. The price of Ethernity Chain is 9.211 as of June 15, 2021, but your present investment may be depreciated in the future.
As of June 15, 2021, the current price of ERN is $9.430, (at the time of writing) and their data shows that the asset price has been rising over the last year (or since its inception). Because Ethernity Chain has been on the rise, we believe that related market segments were quite popular throughout the period in question. Their website employs a unique Deep Learning-based algorithm that assists customers in determining whether ERN is a good portfolio addition for the future. These forecasts take into account a variety of variables such as volume changes, price changes, market cycles, and comparable currencies. According to our prediction engine, the asset’s future price will be $0 (-100%) after a year. This suggests that this asset is not suitable as a new addition to your portfolio because trading in bear markets is always more difficult, especially for inexperienced traders.
Digital Coin Price
According to the site’s forecasted data, the price of ERN will rise in the future. Based on their forecasts, ERN is a rewarding investment. In one year, the price of one ERN could rise to $17.6, nearly doubling the current Ethernity Chain price. According to their forecast, the price of ERN will not fall.
NFT, Digital Arts, and Digital Assets are the next big thing with the potential to break all records in terms of value. Everyone is joining the NFT party, and Ethernity will be a massive undertaking in the coming months. Ethernity recently auctioned off an NFT in honor of Muhammad Ali, and Tony Hawk is now auctioning off an Ollie 540. According to the report, Ethernity has already surpassed the open-sea NFT marketplace platform in terms of market valuation, which continues to increase as more investors hold or stake tokens for the long term. As a result, the value of the ERN token will continue to rise in the future, and Ethernity may become the most valuable project on the NFT project list.
The crypto market is highly unpredictable and difficult to forecast in the long term, so researching the fundamentals and progress of the Ethernity Chain is a must before deciding to invest any amount of money in the long term to hold for months or years.