In the ever-developing crypto market and an era of blockchain technology, developers and enthusiasts have been striving to create the ultimate decentralized financial ecosystem. The quest for a secure, transparent, and easily accessible platform to transfer tokens and manage assets has been a driving force behind the incredible innovation and growth seen in recent years. As the demand for decentralized solutions soars, an extraordinary project has emerged from the chaos, capturing the imagination of the crypto community: the Hooked Protocol. This robust project is poised to shape trust and decentralization in the blockchain ecosystem and contribute to the next era of financial technology.
At the intersection of cutting-edge technology and user-friendly design, the Hooked Protocol promises a revolutionary approach to the way we handle financial transactions. By leveraging the power of blockchain and the ingenuity of smart contracts, this decentralized finance (DeFi) platform paves the way for a new financial landscape that is secure, transparent, and trustless.
The Hooked Protocol is a cryptocurrency initiative aiming to bridge the gap by fostering user adoption of web3 technologies through educational, reward-based offerings and a community that brings together web3 developers and an enthusiastic audience. The Hooked Protocol (Hook) stands out as an early adopter of GameFi technologies, combining education and cryptocurrencies to introduce both novice and seasoned crypto investors to the Web3 landscape via gaming experiences.
Despite its native token, HOOK, having only been launched on December 1, 2022, it has quickly gained attention by soaring over 40% on just its second day of trading.
How much is HOOK worth?
Today’s Hooked Protocol price is $1.61 with a 24-hour trading volume of $21,954,164 USD. Hooked Protocol is down 9.68% in the last 24 hours. The current CoinMarketCap ranking is #305, with a live market cap of $80,592,500 USD. It has a circulating supply of 50,000,000 HOOK coins and the max. supply is not available.
What is Hooked Protocol?
Making its debut in late 2022, Hooked has emerged as a trailblazing crypto project that utilizes its on-ramp layer network to drive mass adoption of Web3 innovations through captivating GameFi learning experiences and reward-based products.
By implementing learn-and-earn strategies, Hooked entices users to embrace Web3 solutions while familiarizing themselves with the movement’s core concepts.
The Hooked Protocol captivates users with a dynamic and immersive gaming atmosphere, simultaneously linking Web3 developers with a passionate audience eager to explore their projects.
Hooked’s gamified learning journey is designed to not only ignite beginners’ interest in crypto but also empower them with the ability to take ownership of their own digital assets. Complementing its game-based learning model, Hooked offers user-friendly web3 products that streamline the onboarding process for newcomers.
Hooked Protocol’s Wild Cash
Wild Cash, the flagship game of the Hooked Protocol, is described as an all-encompassing Learn-to-Earn decentralized application (dApp) that rewards users with GOLD tokens for participating in carefully crafted quiz challenges.
As stated on the Hooked Protocol website, Wild Cash holds the distinction of being the first and only Web3 application to ever top a Google Play ranking. Since its launch in the third quarter of 2022, the dApp has amassed more than 2.5 million monthly active users, added over 50,000 new users, and boasted a 90% user participation rate within just three months.
Targeting billions of Web2 internet users, the platform aims to onboard them to Web3 through its learn-to-earn initiative, addressing one of the most significant unresolved hurdles in the crypto sphere – attracting new users.
History of Hooked Protocol
Launched on December 1, 2022, the Hooked Protocol has experienced an upward trend for its governance token, HOOK, since its inception. The roots of the Hooked Protocol, however, extend back to the Binance Launchpad, a platform that grants users exclusive access to new tokens from select projects while promoting awareness and adoption. During its seed investment stage, the Hooked Protocol secured commitments from over 100,000 investors.
The mastermind behind the Hooked Protocol is Jason Y, its founder, who boasts more than a decade of experience in consumer internet and growth initiatives. His hands-on expertise from ventures such as Meta and Ex-Uber is complemented by the technical prowess of CTO Mikey, who specializes in consumer development and financial services.
Rounding out this formidable team is Jess L, a former Silicon Valley tech leader with a background in marketing, strategy, and business development, who serves as the CMO.
How Does Hooked Protocol Work?
In its mission to maximize user adoption of web3 products, Hooked adopts a multifaceted approach encapsulated within a well-defined structure. Firstly, the platform entices users to engage in an educational system infused with gamified learning techniques. These methods can be found within the Hooked Academy, which familiarizes users with prevalent web3 concepts such as NFTs and GameFi via games and videos. The Hooked Academy also functions as a decentralized social network, enhancing user experience and reducing the learning curve.
Moreover, Hooked Protocol aims to fulfill its mission of expanding crypto user adoption through its flagship dApp, Wildcash. Boasting over 2 million active users, Wildcash offers learn-to-earn opportunities via features like Quiz-to-Earn, a game that motivates users to learn about web3 and the crypto industry, and POWT (Proof of Work and Time), a mining game that educates users on blockchain mining mechanics while rewarding them with $HGT, the platform’s utility token.
As a gateway to web3, Hooked offers a variety of onboarding solutions to ensure a seamless transition. The platform’s Hooked Soulbound Token (Hooked SBT) provides new users with a unique digital identity. Additionally, the Hooked Wallet offers a user-friendly interface for navigating and becoming familiar with web3 transactions, making it another valuable resource for members.
Hooked Protocol Features
Hooked Protocol’s flagship decentralized application (dApp), Wildcash, serves as a gateway to the Web3 community, offering a gamified crypto learning experience alongside other integrated Web3 mechanics. The protocol incorporates several features to achieve this objective, including Quiz-to-Earn, Social Referral, PoWT, Stake, and Swap.
- Quiz-to-Earn: This feature enables users to earn rewards by participating in quizzes focused on various Web3 concepts. Designed to be both engaging and informative, users can earn rewards for correctly answering questions. Quiz-to-Earn encourages users to expand their Web3 knowledge, making the adoption of Web3 products more seamless and enjoyable.
- Social Referral: Social Referral is another feature that incentivizes users to invite new members to the Hooked Protocol dApp. Users can earn rewards for referring new members to the community, with more successful referrals leading to greater rewards.
- Proof-of-Work Time (PoWT): PoWT is a game within the WildCash app that employs the classic proof-of-work consensus algorithm to motivate users to dedicate time and effort to the platform.
- Stake and Swap: Staking is a feature that allows users to earn rewards by holding and staking Hooked Protocol’s native token, HOOK. Users can stake their tokens, swap, and conduct transfer transactions using the Hooked Wallet.
Hooked Protocol’s Dual Token Structure ($HOOK & $HGT)
Hooked Protocol employs a dual token structure consisting of a native token and a utility token. This token structure has been designed to foster liquidity and enhance utility, ensuring the long-term sustainability of the Hooked ecosystem.
$HOOK: The primary token in the ecosystem is $HOOK, the governance token for Hooked Protocol. This deflationary token serves multiple purposes within the network, including governance, staking rewards, gas fees, and in-app currency. Additionally, the HOOK token grants access to exclusive events and community privileges, such as NFTs.
HOOK Tokenomics:
The native governance token, HOOK, has a total supply of 500,000,000, with its distribution broken down as follows:
- Private Sale: 20%
- Team: 20%
- Binance Launchpad Sale: 5%
- Community: 25%
- Treasury: 30%
$HGT: The second token within the Hooked Protocol Ecosystem, $HGT (Hooked Golden Token), serves as the in-ecosystem utility token. With an unlimited supply, HGT is issued to protocol users as they complete specific tasks. Integrated into the protocol’s learn-and-earn approach, the token incentivizes users to adopt Web3. HGT will also be utilized for in-app purchases and access to events, properties, and virtual assets.
Hooked Protocol: Latest Developments
Web3 onboarding pioneer, Hooked Protocol, has unveiled its plans for 2023, and the development team has locked its HOOK tokens to demonstrate their long-term dedication to the community. The team has dismissed responsibility for the price volatility, attributing it to the inherent nature of cryptocurrencies. They also stated that the Hooked team had secured its tokens under Binance Custody for one year, followed by a five-year release plan.
The team expressed, “We want to show our long-term commitment to Hooked Protocol as part of this process.” Hooked’s straightforward onboarding process has drawn a large number of users, catapulting the project to the top of the popularity rankings for Decentralized Applications (Dapps).
DappRadar reveals that Hooked ranks as the second-most popular Dapp on any blockchain, boasting 1.35 million Unique Active Wallets (UAWs) over the past 30 days, just trailing Pancake Swap’s 1.67 million UAWs.
Over the next year, the Hooked team aims to capitalize on its initial success to achieve even grander aspirations, as outlined in its 2023 roadmap posted on Medium.
In the coming year, Hooked Protocol plans to expand its global reach, extending beyond its initial base in Nigeria to encompass Southeast Asia, Latin America, the Middle East, and Africa. The team is committed to improving and broadening Hooked’s content offerings and gamified platform. Their goal is to establish a self-sustaining, flywheel-based ecosystem with extensive Web3 user and business adoption; all interconnected through a Web3 marketplace. Additionally, the development of a Hooked SocialFi system is underway, with intentions to form a Decentralized Autonomous Organization (DAO).
Hooked Protocol Price History
The current price of Hooked Protocol stands at $1.670821, with a trading volume of $54.09 million in the past 24 hours. Its market capitalization is $83.54 million, and it has a market dominance of 0.01%. The HOOK price experienced a decline of 6.41% within the last day.
Hooked Protocol’s all-time high was on February 6, 2023, when it traded at $4.06. On the other hand, its all-time low occurred on December 28, 2022, when it was valued at $1.084670. Since the all-time high, the lowest HOOK price was $1.491750 (cycle low), while the highest price since the last cycle low reached $2.52 (cycle high). The current sentiment for Hooked Protocol’s price prediction is bearish, with the Fear & Greed Index indicating 60 (Greed).
There are currently 50 million HOOK tokens in circulation out of a maximum supply of 500 million HOOK.
HOOK Technical Analysis
Analyzing the 4-hour price chart, the HOOK token has witnessed a massive plunge recently as sellers executed their positions near critical support levels. In the last two days, the HOOK token has declined by over 10% and formed a low below its 38.6% Fib channel at $1.65. There is intense bearish domination after bulls failed to push HOOK’s price above the EMA-20 trend line at $1.7. On the 4-hour price chart, the RSI level has touched the bottom level of its selling region and currently indicates a rebound for the token as it faces a pullback near $1.65.
As of writing, HOOK’s price trades at $1.68, declining over 6% from yesterday’s rate. The BoP indicator has made a steep decline, and it is now trading in a bearish territory at 0.43, hinting at further drops.
On the daily price chart, the HOOK token is trading way below the EMA-20 trend line, which strengthens the position of sellers and declines the MACD line below the signal line. If HOOK drops below $1.5, it may experience a sharp decline below the 0.068 Fib level at $1.2. On the other hand, a bullish rally may emerge if the HOOK price surges above EMA-20, pushing to a resistance at $1.9.
HOOK Price Prediction By Cryptopolitan
| Year | Minimum ($) | Average ($) | Maximum ($) |
| 2023 | 2.19 | 2.28 | 2.51 |
| 2024 | 3.23 | 3.34 | 3.93 |
| 2025 | 4.73 | 4.86 | 5.53 |
| 2026 | 6.6 | 6.79 | 7.99 |
| 2027 | 9.04 | 9.31 | 11.29 |
| 2028 | 13.15 | 13.53 | 15.42 |
| 2029 | 19.5 | 20.04 | 22.66 |
| 2030 | 28.11 | 29.11 | 33.73 |
| 2031 | 41.14 | 42.3 | 49.42 |
| 2032 | 58.58 | 60.28 | 71.25 |
HOOK Price Prediction 2023
Based on an in-depth technical analysis of past price data for HOOK, the projected price of Hooked Protocol for 2023 is expected to range between a minimum of $2.19 and a maximum of $2.51, with an average trading price of $2.28.
HOOK Price Prediction 2024
Looking ahead to 2024, the price of Hooked Protocol is projected to reach a minimum value of $3.23 and a maximum value of $3.93, with an average trading price of $3.34 throughout the year.
HOOK Price Forecast for 2025
For 2025, the forecasted price for Hooked Protocol is expected to be at its lowest possible level of $4.73 but could potentially reach a maximum of $5.53, with an average forecasted price of $4.86.
HOOK Price Prediction 2026
Moving forward to 2026, the projected price of Hooked Protocol is forecasted to reach a minimum possible level of $6.60 and a maximum possible level of $7.99, with an average forecasted price of $6.79.
HOOK Price Prediction 2027
In 2027, the projected minimum value of Hooked Protocol is expected to be around $9.04, with a maximum value of $11.29 and an average trading value of $9.31.
HOOK Price Prediction 2028
Looking even further ahead to 2028, the projected minimum price for Hooked Protocol is predicted to reach $13.15, with a maximum of $15.42 and an average trading price of $13.53.
HOOK Price Prediction 2029
For 2029, the projected minimum price of Hooked Protocol is expected to be $19.50, with a maximum price of $22.66 and an average price of $20.04 throughout the year.
HOOK Price Forecast 2030
In 2030, the price of 1 Hooked Protocol is expected to reach a minimum level of $28.11, with a maximum of $33.73 and an average price of $29.11 throughout the year.
HOOK Price Prediction 2031
Moving forward to 2031, the projected minimum price value of Hooked Protocol is expected to be $41.14, with a maximum of $49.42 and an average value of $42.30.
HOOK Price Prediction 2032
Finally, for 2032, the projected minimum value of Hooked Protocol is expected to be $58.58, with a maximum value of $71.25 and an average trading price of $60.28 throughout the year.
HOOK Price Prediction By Coincodex
Coincodex’s Hooked Protocol price prediction suggests that the value of Hooked Protocol is expected to increase by 1.44%, reaching $1.703169 by May 11, 2023. However, their technical indicators indicate that the current market sentiment is Bearish, while the Fear & Greed Index shows 60 (Greed). Hooked Protocol has experienced 13/30 (43%) green days with 8.51% price volatility over the last 30 days. In light of this Hooked Protocol forecast and bear market call, they advise against purchasing Hooked Protocol at this time.
HOOK Price Forecast By DigitalCoinPrice
DigitalCoinPrice’s forecast for the future price movements of Hook coin suggests that it will surpass the $3.77 mark in 2024, and the Hooked Protocol is expected to have a minimum fee of $3.58 by the end of the year. Furthermore, the price of HOOK has the potential to reach a maximum level of $4.26.
In 2032, HOOK will surpass the $31.52 mark, while Hooked Protocol is projected to have a minimum fee of $31.37 by the year-end. Furthermore, the price of HOOK has the potential to reach a maximum level of $31.64.
HOOK Price Prediction By CryptoPredictions.com
According to CryptoPredictions.com’s Hook price forecast, the token is predicted to commence in June 2023 at a rate of $1.784 and conclude the same month at $1.913. The highest anticipated price for HOOK during June is $2.073, while the lowest price is predicted to be $1.410.
In 2027, the Hook token’s price may attain an average trading price of $5.7, with a maximum price of $7.1 and a minimum price of $4.8.
HOOK Price Prediction By Market Sentiment
There are two interesting developments related to Hooked Protocol and its cryptocurrency, HOOK, that are worth mentioning. Firstly, the “Hooked Academy Sensei,” one of the first web3 academies integrated with artificial intelligence, has reopened registration for its beta version. As the platform grows in popularity and community demand increases, the HOOK Team has decided to give away exclusive access to try the learning academy integrated with AI systems and a chatbot similar to ChatGPT.
Secondly, Binance has announced the launch of the EDU token, belonging to the “Open Campus” community, an official partner of Hooked Protocol. Like HOOK, the EDU token will also be launched from Binance’s launchpad, where exchange users can already task their BNB to receive this new cryptocurrency on the day of listing on the markets. Hooked Protocol will assist Open Campus in achieving its goal of creating a decentralized world where teachers and educators can monetize their content and contribute to the literacy of the Web3 community.
Hence, following the recent developments, the Hooked protocol is poised to onboard more users as it develops positive market sentiment. Several investors expect the HOOK token to surpass $10 this year.
Conclusion
By seamlessly integrating gamified learning, Hooked Protocol has not only broadened the acceptance of web3 and cryptocurrencies but also revolutionized the way users engage with these digital assets.
With the highly anticipated expansion of the SocialFi system and the introduction of an even more diverse range of crypto-centric products in 2023, Hooked Protocol is on the cusp of becoming a household name in the global crypto community. It is imperative that the company pursues an aggressive international expansion strategy and continues to refine its content-learning system, ensuring that it remains at the forefront of edutainment in the decentralized finance landscape.
However, it is advised to do your own research and conduct good investment advice before investing in the volatile crypto market.
FAQs
Is HOOK a good investment?
Over the last 30 days, Hooked Protocol had 12/30 (40%) green days. According to our historical data, it is currently not profitable to invest in Hooked Protocol.
Will HOOK increase in value?
According to our current Hooked Protocol price prediction, the value of Hooked Protocol is predicted to rise by 1.44% and reach $ 1.629268 by May 11, 2023.
What is the use of HOOK coin?
HOOK is used for the following purposes:
Voting decisions for the Hooked ecosystem.
Accessing community event privileges.
Accessing exclusive NFT mints.
Rewards for staking.
Currency for certain in-app purchases.
What is the valuation of Hooked Protocol?
The current market cap of Hooked Protocol is $91.59M. A high market capitalization implies that the asset is highly valued by the market.
What’s on the current roadmap of Hooked Protocol?
Currently, the Hooked Protocol development team is implementing the integration of wallets and decentralized identifiers (DIDs) into the Hooked ecosystem, thereby allowing users to access Web3 identities automatically.
Source: https://www.cryptopolitan.com/hook-price-prediction/