Undoubtedly, the crypto world is growing at an unpredictable pace, with several projects springing up now and then. Interests in new projects have continued to skyrocket as they seem to offer investors more returns on investment. Serum is one such project that offers not just earning potentials but also significant use cases for now and the future.
This guide will examine the fundamentals of the Serum protocol, its native token, key features, historical price analysis, and developments. We will also delve into Serum price prediction for 2022 and beyond.
What is Serum?
Serum is a low-cost and high-speed blockchain protocol for decentralized exchanges(DEXs). It is an open-source project backed by the Serum Foundation and co-founded by FTX CEO and Solana contributor Sam Bankman–Fried. The Serum protocol was launched in July 2020 and is poised to unveil trustless cross-chain trading. Its primary aim is to bring the convenience and speed of centralized crypto exchanges to Decentralized Finance(DeFi) space without compromising transparency and security. It is completely permissionless, built on the high-performing Solana blockchain, and interoperable with the Ethereum blockchain.
Serum Native Token
The governance token of the Serum protocol is $SRM, and it is built natively as an SPL token on the Solana mainnet, although with an ERC-20 version on the ETH blockchain. While most of the features of the Serum protocol are perceived as immutable, parameters like future fees may be subject to change via $SRM token governance votes.
$SRM has a maximum supply of 10 billion tokens, of which approximately 10% was circulated at launch. The circulating supply of $SRM is set to increase by 15% every year. In addition, 90% of the total SRM tokens are intended for long-term lock-ups or hold to ensure the longevity of the Serum project. Locking up 1 million SRM tokens grants users the MegaSerum (MSRM) token.
$SRM can be used as network fees or staked to earn rewards. Serum (SRM) token holders can get up to 50% discount on trading fees, while MSRM holders can earn up to 60% discount. All trading fees accrued from Serum’s Decentralized Exchange will be vested into the $SRM burn and buyback program.
The distribution of SRM is projected as follows:
- 27% – Collaborator and Partner Fund
- 20% – Advisors and Team
- 27% – Incentive Fund for the Serum Ecosystem
- 4% – Auction Purchasers and Locked Seed
- 22% – Project Contributors
Serum Key Features
Cross-Chain Swaps
The current DeFi landscape raises huge interoperability concerns, with users struggling to execute cross-chain token swaps. The Serum protocol offers cross-chain support, thereby facilitating decentralized, trustless, and efficient transactions between different chains in a secure manner. For instance, users can directly and seamlessly trade assets between Solana, BTC, and ERC-20. The chain interoperability feature of the Serum protocol also means that existing DeFi projects can access its features regardless of their base blockchain. Despite being built natively on Solana, Serum can be completely usable from Ethereum.
Automated On-Chain Order Book
Serum offers an automated limit order book that grants users the ability to take control of their trading by specifying order prices sizes and choosing trade direction. The order books offered by the Serum protocol are implementable between tokens due to the project’s cross-chain support. Also, Serum’s on-chain order books are completely programmatic and feature BTC and ETH order books. The Serum protocol supersedes other DEXs because it includes significant optimizations that facilitate cheaper and faster order matching, even between 3rd-party users.
SRM Token
$SRM is the native token of the Serum protocol, and it can be staked to optimize the network’s performance.
Solana Integration
Compared to previous blockchains iterations, Solana is substantially faster and less expensive. Integrating Solana with Serum provides the latter with speed, lower costs, and a user experience similar to centralized exchanges while remaining non-custodial and trustless. Also, the Solana integration elevates Serum’s ETH interoperability.
Custom Contracts
The Serum protocol allows users to initiate custom crypto contracts and execute P2P leveraged trading on assets available on the fully decentralized and non-custodial Serum DEX. These contracts include cross-chain physically settled contracts. They can be tokenized and moved across the blockchain.
SerumBTC
The Serum ecosystem allows users to create a permissionless and truly decentralized BTC token on the Solana and Ethereum blockchain.
SerumUSD
SerumUSD is a decentralized stablecoin on the Serum protocol, and it offers a model for establishing a decentralized stablecoin with no failure point.
Serum Past Price Analysis
Following the completion of the protocol’s phase one deployment, which included issuing both ERC-20 and SPL SRM tokens, listing on major crypto exchanges, and the roll-out of its on-chain DEX, $SRM kicked off on August 11, 2020, with an opening price of $0.1101 (current ATL) and a trading volume of $211,232,756. Over the coming days, SRM went on a bullish run and reached $3.78 on September 1, 2020. The uptrend reversed during the course of the month, and by the end of October 2020, SRM had bottomed to $0.974. SRM closed out the year at $1.04, with a market cap of $52,001,293.
At the turn of the new year, SRM trended with the cryptocurrency market boom of 2021 that saw mainstream assets like BTC and ETH attain new heights. On February 10, $SRM exceeded its previous high and attained a new high of $4.42. The bullish run continued for the next few months, and by May 03, 2021, SRM’s price had gained over 190% to reach $12.89. The bears soon took over, but the token regained momentum to attain its current all-time high at $13.72 on September 11. Also, its 24-hour trading volume peaked at $2,347,324,861.
SRM ended 2021 with a significant price drop of over 73% after a massive selling spree. Trading volume also dipped to as low as $76,463,705. The token started 2022 at $3.42, and its price range has been fairly stable, between $2 to $4.
Serum Current Market Status
The current price of Serum (SRM) is trading at $2.212 with a market cap of $294.975M and a 24-hour trading volume of $62.956M. The token is currently ranked at $170 per Coinmarketcap. In addition, SRM’s price value has dipped by over 5% in the past 24 hours, with a pricing range of $2.20 – $2.35.
Serum Technical Analysis
On a daily chart, SRM shows a bearish double top pattern which signifies a medium to a long-term price decline, which is true for SRM. Having reached its ATH, SRM has sharply declined below the $3 mark and is currently trading below the $2.757 resistance level. SRM has broken past major support levels without a reversal and is now trading around an important support zone consisting of $2.183 and $1.925.
If this Serum trend is anything to go by, the token could rebound at its next support level to retest its immediate resistance at $2.757 and probably break past other psychological resistance levels to reach above $15. Somewhere around the support levels could be a potential buy-in point.
However, Serum could dip below its next support levels, and in this case, investors will have to wait until the token eventually turns to an uptrend.
According to the relative strength index (RSI), Serum is almost undervalued with an RSI of about 39, signaling a good buy point and a possible future price rise. However, investors must remain steadfast and desist from making hasty investment decisions as trends could reverse in a matter of seconds.
Serum development 2022 and beyond
Serum has completed its phase 1&2 deployments, and its phase 3 promises several features, collaborations, and integrations that could revolutionize the Solana-based protocol, giving it even more use cases. Some of the developments expected in 2022 include:
- Borrow/lending
- Yield
- More cross-chain bridges
- Projects building on Serum
- AMMs
- Margin trading / contracts
- Tokens and exchanges natively supporting SPL
- Volume and TVL growth
With the completion of phase 3, Serum could gain massive adoption, and its native token may experience significant upsides.
Cryptopolitan Serum Price Predictions 2022-2026
Serum (SRM) Price Prediction 2022
Our Serum coin price prediction for 2022 expects the token to reach the $3 mark by the year’s first half. By the close of the year, we expect a minimum price of $3.04, a maximum price level of $3.69, and an average trading value of $3.14. Serum could well outperform these expectations post phase 3 implementation.
Serum Coin Price Forecast 2023
Serum coin price forecast for 2023 starts at a minimum price value of $3.01. In the course of the first month, a maximum price of $3.39 is expected. By August 2023, Serum is expected to hit a maximum value that is double its current price. We expect SRM’s bullish trend to continue to the end of the year. By December 2023, a maximum price of $5.26 is predicted.
SRM Coin Price Forecast 2024
Serum price forecast for 2024 starts at a minimum price of $4.41. If investors continue to back the crypto, it could well reach a maximum price of $5.02 in January 2024. By the first half of 2024, Serum is expected to hit a maximum value of $6.15. A maximum price of $7.81 and a minimum price of $6.70 are expected for the end of the year.
SRM Price Prediction 2025
The SRM price prediction for 2025 expects the coin to trade within the range of $6.61 to $11.62.
SRM Price Forecast 2026 and beyond
By 2026, our SRM price prediction expects the coin to trade at a minimum market value of $9.50 and a maximum value of $16.94. A devoted community, new collaborations, and more acceptance could lead to a large expansion in the Serum ecosystem and make the SRM an even more valuable coin by 2030. Our SRM token price forecast for 2030 indicates that Serum might reach a high of about $77.
Serum Price Prediction by Industry Experts
Despite the volatility and uncertainty in the market, an expert’s view of crypto coin future predictions could help potential investors with the knowledge they require before investing in any asset. Here are some of the experts’ opinions on Serum’s expected pricing.
According to Wallet Investor, Serum is expected to trade within a range of $1.996 – $2.599 in the coming days. In the long term, their SRM forecast is quite profitable, with the token expected to reach a possible maximum price above $8 by 2023, with an earning growth of 128.4%. By 2025, Serum forecast earnings growth is 388.2%, and by 2027, an earning growth of 641% is predicted.
DigitalCoinPrice also presents a positive outlook for Serum in the long term, with the token expected to reach an average price of $3.51 by 2023. By 2025, Serum is forecasted to hit an average price of $4.82. SRM could be set to approach its current ATH by 2030.
According to a crypto analyst, NaS_ALmutairi, Serum is expected to reach as high as $30 in 2022 if it is able to break past its current ATH at $13.72. The analyst also expects SRM to continue a bullish run past $30 up to $90.
This expert analysis provides a quite positive outlook for Serum in 2022 and beyond. However, this is not financial advice, and potential investors are expected to do due diligence before making a call on SRM.
Conclusion
Holding the Serum token (SRM) over an extended period could be an excellent investment, given the predictions, features, and enormous prospects of Serum. However, these forecasts are not always the most significant aspect in making a purchasing decision.
Investment decisions are influenced by a variety of factors, including fundamental analysis, technical analysis, and other market variables. Ultimately, it’s a good option to do your own research and not rely solely on price forecasts to establish your opinion.
FAQs about Serum
How to buy Serum token?
To purchase Serum token, set up an account with any of the markets where SRM is currently listed, and complete KYC where necessary.
Where to buy/sell Serum coin?
You can buy/sell $SRM on Binance, Upbit, FTX, OKX, Gate.io, and several other markets. Before trading $SRM on any exchange, ensure that you look out for trading volumes and available market pairs.
Is Serum a profitable investment?
There have been concerns among investors about the consistent downside in the value of SRM for the past months. However, based on the predictions and expert opinions, Serum could appear to be a good investment in the long term. Regardless, investors must be on the lookout for ups and downs, as price predictions are hypothetical.
What is SRM Coin Price Prediction in 2030?
Serum coin could reach a maximum price of $76.77. Eventually, the price movements of SRM will vary with market fluctuations; investors should watch out.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend doing your research and consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/serum-price-prediction/