Is QTUM Expected to Rise in 2021?
Cryptocurrency prices are fluctuating all the time, literally. We have no idea how important of a role blockchain technology can play in the future because it’s still so new. However what we do know, is that cryptocurrencies are very interesting, and there are many people interested to invest in them.
Today we will be diving deep into Qtum (QTUM). Qtum is a cryptocurrency that was created with the aim of being a business-ready blockchain. An initial coin offering, or ICO, was held in March 2017 for this young and bright coin.
With a large team and financial support backing it, Qtum can better be described as a cross between Bitcoin and Ethereum, acting as a combination of the best features of each to provide a fresh and open platform for companies to launch distributed applications based on smart contracts.
In this article, we’ll get into detail about what Qtum is and where it’s headed in the coming years. We’ll also get into what different crypto analysts have to say about its future price and its potential as an investment. By the end of this article, you’ll have a good idea of what the price of QTUM will be this year and in the future, according to the experts.
What is Qtum (QTUM)?
Qtum, pronounced “quantum,” is a cryptocurrency that seeks to bring together various features of Bitcoin and Ethereum architecture models in order to attract web developers. The goal is to combine these different features because both Ethereum and Bitcoin differ in the details of how their blockchains function and how users’ balances are recorded and maintained.
Qtum is a solid attempt to provide an alternative to Ethereum that achieves its programming levels while being compatible with Bitcoin, offering something akin to a best-of-both-worlds blockchain approach. This concept combines special features of the two networks and brings something entirely new to the world of blockchain. The team at Qtum suggests that this architecture would entice users looking to create blockchain-based apps, which is Ethereum’s key value proposition, by enabling their creations to execute and transact in a similar way to Bitcoin.
On top of all this, Qtum is also likely to offer several other features seen in rival cryptocurrency networks. The Qtum native token, QTUM, for instance, is used in order to pay contributions to those who help run the network, and freshly minted QTUM is distributed depending on asset ownership.
QTUM coins also come with voting rights in the software’s on-chain governance scheme, meaning that if you purchase any QTUM, you can have some sort of control over the software’s growth. Many interested in staying up to date on the status of the Qtum project should visit the project’s official site. Project leaders have comprehensive quarterly updates on the status of their implementation plans as well as general financial information.
Qtum (QTUM) Current Price Analysis
On September 13 of 2017, Qtum’s mainnet went online for the first time. Its price closed at $11.94 that day. In reality, on September 1st, the price of Qtum was already as high as $18.26.
Throughout the months of October and November 2017, the price maintained a range between $10 and $20. It then began to slowly rise by the middle of December. After that, for the first time in its history, QTUM surpassed $30 in value on December 15th, 2017. CryptoClub, a crypto vlogger, depicts that there’s one special reason for the price increase. Qtum was an undervalued coin before it was introduced at BlockShow Asia in late November 2017, according to CryptoClub. Then, after its initial feature at BlockShow, its price spiked unexpectedly.
Qtum was also lauded on the influential crypto-news platform, Cointelegraph, after its first presentation at Blockshow. Within only one day of the article’s publication on December 17th, Qtum’s price had already risen by more than $20. The uphill movement ended up continuing after more national media outlets, such as Forbes, commented on the spike in Qtum’s value. The value of one QTUM was worth $106.88 on January 6th.
The price of QTUM was expected to stabilize at about $60, according to CryptoClub’s QTUM price forecast for 2018. This, however, didn’t go as they had planned. The price then gradually descended and one QTUM was worth $2.33 at the end of 2018. The coin fluctuated mildly throughout the years following that.
QTUM is valued at $19.75 at the time of writing. It is currently ranked as #68 with a market cap of $1.94 billion USD. It reached its record all-time high of $99.87 in January 2018 and has a total circulating supply of 103,396,654 QTUM, according to Coinmarketcap.
Qtum (QTUM) 2021 Price Prediction
The majority of crypto analysts believe that Qtum’s price mat go up in the second half of this year. Let’s take a look at what some of these analysts are saying.
According to Specialist, the native token of Qtum may be worth $31.04 by the end of 2021. For a more realistic outlook, CoinArbitrage predicts that QTUM could finish the year at about $28.02. QTUM is forecasted to trade at an average price of $29.28 by the end of 2021, according to DigitalCoinPrice.TradingBeasts have made forecasts for 2021, predicting a comparable price range of $18.43 for December of this year. QTUM is expected to end 2021 at an average price of $34.47, according to WalletInvestor.
Long-term Price Predictions for Qtum (QTUM) 2022, 2023, 2024, and 2025
All of the technological advancements and features behind the project are absolutely magnificent. However, other strong players such as Ethereum, EOS, Cardano, and Chainlink have staked a claim in this particular niche. The project’s popularity would be determined by the applications built on it and the relationships formed by the production team behind Qtum.
In order to get a true and clear forecast of Qtum’s future price, we gathered the most accurate future price predictions from multiple experts and analysts. Any cryptocurrency price forecast, like Qtum price predictions, should be viewed and assessed with caution. Keep in mind the dangers of betting solely on price forecasts as there are many other factors that will influence the price of QTUM.
The price of QTUM may grow gradually in the coming years, according to Trading Beasts’ Qtum price forecast. Despite their prediction that the price could fall to $2.20 in 2021, they believe that subsequent years may be good for QTUM, with an average price range of $2.40 to $4.20 throughout 2022. They foresee the price range to widen even more eventually from $2.90 to $5.10 by 2023.
Walletinvestor provides a relatively positive prediction for QTUM. They note that it’s a likely decent investment. They definitely support investing in Qtum right now, expecting it to rise to $34.47 by the end of 2021. Although they forecast an average range of $26-34 throughout Q1 of 2022, they predict the asset might continue on an upward slope to the future. The price of Qtum can keep growing in the coming years, ultimately reaching $45.69 by the end of 2025.
Lastly, the QTUM token’s price might increase dramatically in the coming years, according to a trustworthy source, Digitalcoinprice. Their Qtum future price forecast is bullish. They estimate that Qtum might rise to $34.28 in a year. QTUM is expected to continue growing, reaching $41.58 by 2023 and $56.45 by 2025.
What Potential Factors Can Affect the Price of QTUM?
When forming a long-term QTUM price forecast, there are a few things to consider that may affect the price of the coin. The first of many, which is also very common among cryptocurrencies, is the large number of identical platforms to Qtum. These other platforms compete with Qtum and have the potential to influence its price and spike competition.
Platforms that are similar to Qtum have a saturated market. Ethereum was the first platform to allow users to create smart contracts and decentralized applications (DApps), and it remains the most common. However, Qtum’s place in the industry is being challenged by a number of other platforms. Cardano, Lisk, NEO, and EOS, are four of Qtum’s biggest competitors.
If all things go to plan, Qtum expects to form two major partnerships. The first one is with Starbucks. Qtum is currently negotiating a deal with the world’s largest coffee franchise, Starbucks. A large alliance such as this one will be beneficial to the QTUM coin price in the long run. The second major partnership is with 360 Finance. Qtum also plans on collaborating with 360 Finance, a China-based financial technology firm, to establish a blockchain research center. Not only do large partnerships expand the number of use cases for the Qtum, but also boost global adoption, attracting more global users around the world to start hopping onto the Qtum wagon.
What’s Next for Qtum (QTUM)? What to Expect in 2021?
The X86 Virtual Machine is Qtum’s most important technological advancement. Consider a virtual computer to be a factory where decentralized apps and smart contracts are created. The EVM, which is Ethereum’s warehouse, has been widely used by Qtum. The X86 Virtual Machine, according to the team at Qtum, would be a better way for developers to build potential DApps and smart contracts.
March 2019 and March 2020 were both large milestones on the Qtum roadmap. Qtum issued 6 million new coins during each of these cycles. This means that the entire Qtum coin stock was in full circulation by March 2020.
2021 could be a pivotal year for Qtum if the X86 VM performs as well as it is planned to and impresses the production world by the time the entire coin supply has been distributed. These two variables must be considered in every Qtum future price forecast. Fundamental factors such as these may have a major impact on the price of the Qtum cryptocurrency.
Is Qtum (QTUM) a Good Investment?
As you are likely aware now, there are several key factors that could influence the price of the Qtum coin this year and in the future. However, the question remains, is it a wise investment?
Qtum is as solid as any other network on the market in terms of technological framework and value proposition. It has the advantage of being built on two of the world’s most famous cryptocurrencies. On top of that, it also provides offerings to its customers that are superior to those provided by Bitcoin and Ethereum. The team at Qtum aims to provide full transparency to their community and offers great opportunities for its users.
Any of the technology that Qtum is working on currently is beyond thrilling. It does, however, face relatively stiff competition. The networks with the largest and most powerful groups would be the true winners of cryptocurrencies. Qtum isn’t as popular and well-known as BTC or ETH, but it does hold great potential to do so in the future and it could be a good investment to HODL. This will be determined by the DApps based on Qtum as well as the real-world relationships it establishes for itself.
Takeaways
- Qtum, pronounced “quantum,” is a cryptocurrency that seeks to bring together various features of Bitcoin and Ethereum architecture models in order to attract web developers.
- The Qtum native token, QTUM, for instance, is used in order to pay contributions to those who help run the network, and freshly minted QTUM is distributed depending on asset ownership.
- QTUM is valued at $19.75 at the time of writing. It is currently ranked as #68 with a market cap of $1.94 billion USD.
- The project’s popularity would be determined by the applications built on it and the relationships formed by the production team behind Qtum.
- These other platforms compete with Qtum and have the potential to influence its price and spike competition.
- Qtum is currently negotiating a deal with the world’s largest coffee franchise, Starbucks.
- The X86 Virtual Machine is Qtum’s most important technological advancement.
- 2021 could be a pivotal year for Qtum if the X86 VM performs as well as it is planned to.