OriginTrail Price Prediction

The Overview of OriginTrail Ecosystem

OriginTrail is a Web3 Protocol for trusted information sharing. The tools and protocol evolve as a Web3 built-in decentralized knowledge graph semantic layer. This enables information sharing between organizations. Users can organize their critical information with knowledge graphs and make them verifiable and discoverable on the decentralized network.

Users can manage, discover, and store information. Knowledge graph integrates information from multiple sources and shares them as semantic figures across systems and decentralized applications. The core development company of OriginTrail is known as Trace Labs, founded in 2013.OriginTrail decentralized network mainnet was started in 2018 with actual enterprise data jobs. It leverages the advantages of global standards GS1 and WC3. The exact alignment of data from sources such as legacy systems and newer blockchains has been ensured by this standard. Due to the sensitive nature of certain information sets, ODN is providing a ‘Zero-Knowledge Method’ to prove the validity. When the information is first published on the network, it will be assigned a tamper-proof fingerprint or cryptographic hash.

Data enters into the ODN through data creator mode. After the hashtag assignment, it will be passed to 3+ nodes. They will store the details, and the decentralized nodes will provide them to the users on demand. The nodes will also function as decentralized knowledge graphs to connect information across different nodes. Middle layer protocol ODN is also known as a multi-chain protocol because it has been designed in a way that it can interact with multiple blockchains, and it works on other blockchains, also. Currently, it is supported by Ethereum, HyperLedger Fabric, xDai, and Polygon.

Trace alliance is an essential partner in the ecosystem, and the members of the trace alliance have been divided into three working groups. The first working group is in food and agricultural technology. This group is focusing on bringing more digitalization to food and agriculture. This is led by Grigoris Chatzikostas — founder & CEO at Rainno.

Second is the supply chain data interoperability and semantic web; the group connects different global companies, academicians, technology providers, and government agencies, which will ensure a seamless connection between all the entities and the transfer of information across private and public networks across the globe. It is directed by John G. Keogh, the managing principal of Toronto-based niche advisory and research firm Shantalla Inc.

Finally, they have a working group for tokenomics and decentralization. The group provides smooth services in blockchain and token-related aspects; their main aim includes OriginTrail Polkadot implementation and the Starfleet phase initiative.

The original roadmap, 2013 to 2018, was considered the foundation stage, and the token distribution finally happened in 2018. The next stage is named mainnet inception. After building the decentralized knowledge graph mainnet, OriginTrail partnered with many companies to increase its adoption. The next phase is called the ‘Turning Phase,’ which has been ongoing now, and the Metcalfe phase is planned for the next phase implementation.

The Overview of TRAC

TRAC is the native investment cryptocurrency of OriginTrail. TRAC is non-inflationary, and a total of 500 million pre-mined OriginTrail TRAC tokens were distributed during its initial coin offering to invest. The token sale happened on January 17, 2018; the price of the OriginTrail TRAC token was $.10. TRAC is an 18-decimal token; hence the issue of supply or payment has comparatively fewer.

ERC-20, an Ethereum-based OriginTrail token, is used to power all the activities of the OriginTrail ecosystem. The token will be locked up for months and years to reduce the supply and increase the demand. Among 500 million TRAC tokens, 38.6 million are distributed. The current price of OriginTrail TRAC is $0.7096, with a market cap of $258,007,233.08.

Use Cases of TRAC Token

OriginTrail decentralized network has been using OriginTrail TRAC in many ways for DKG operations and incentivizing protocol. Some of these include:

Creating and Publishing Data in ODN

Engaging and publishing data on OriginTrail decentralized network: to participate in ODN, creators and holders need to stake OriginTrail TRAC in the nodes; the higher the OriginTrail TRAC coin stakes, the higher the data creating or holding capacity in the network. Creators are allowed to publish information in the OriginTrail decentralized network.

The value of OriginTrail TRAC needed for this will depend on the size of data, job length, and other market forces will also be a dependent factor. And the reward, in this case, will be released after the job completion. Until that, TRAC coins will be locked in the smart contract.

Collateralization by Holders

To avoid modifying or manipulating data and holding it over a while, OriginTrail TRAC from a data holder’s stake is a locked-way smart contract for the length of the data job. The holder has to provide information on demand, and failure to do the same will lead to the loss of OriginTrail TRAC.

Incentivization

Creators can sell their data in marketplaces. OriginTrail boosts by adding knowledge wallets, tenders, knowledge marketplace, and knowledge tokens. Users can buy data; sellers can provide fractional access or limited access; this will add value to OriginTrail TRAC.

Staking TRAC

Users can stake OriginTrail TRAC, and they will benefit from a share of the profits of the data job.

TRAC Technical Analysis

The cryptocurrency market has marked tremendous volatility over the last year after Bitcoin continuously trading bearishly. The last year has witnessed a plummet in the prices of almost every cryptocurrency. Inflation, strict monetary policy, and global market fear of pandemic variants are important factors behind the crypto world collapse.

Historical data and technical analysis show that OriginTrail price has been continuously dropping. The current price of OriginTrail (TRAC) is around $0.1631, with a 24-hour volume of $991,346. The total market cap is $59,617,505, with a circulating supply of 365,481,590 TRAC. An all-time high of the coin is $3.87, which is November 2, 2021. The all-time low is $0.003785, which was on March 13, 2020.

Technical analysis of OriginTrail TRAC shows that the coin has been continuously trading downwards since November 2021. The slight recovery was marked by an OriginTrail price rise, but it failed to breach the previous resistance levels, and the OriginTrail price fall continues today. Today it is trading at a price of $0.1641.

The price of OriginTrail TRAC has shown moderate momentum for a few days. Resistance and support for the TRAC coin say that immediate resistance is placed at $0.20, and any rise above this will take OriginTrail price to $0.35. Price change above the above-mentioned resistance level can take the price of OriginTrail (TRAC) to the major resistance of $0.55. Any TRAC price drop will plunge to $0.15. The major support would be $0.009.

Technical indicators are showing bearish market sentiments. OriginTrail (TRAC) is not recommended for a short-term buy as of now. The latest news from digital coins is also not supporting the crypto world. Investors and traders can wait for a turnaround to take an entry.

OriginTrail Price Predictions: 2023-2030

The global cryptocurrency industry is set to grow by around $241 million by 2023, which is significantly higher than other tech sectors. Over 22,000 coins are already in circulation, but the important fact is that the growth and value of tokens depend on their demand and supply; to some extent, the demand can be determined by project owners. Burning or locking of the coins is among them. Will OriginTrail price regain its lost momentum in the near future? Let’s find out.

Let us look at long-term OriginTrail price prediction to know whether OriginTrail will price increase in the future.

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