Guy, an analyst at the million-dollar crypto analytics channel Coin Bureau, says mid-cap altcoin project Harmony (ONE) could launch a rally before the year is out. The analyst bases this expectation on ONE’s solid foundations and token economy. Here are the details…
Altcoin Harmony stands out with smart contract capabilities
Harmony is a blockchain focused on powering decentralized economies by helping users create marketplaces for both exchangeable and immutable (NFT) cryptoassets. Guy says the project resembles Ethereum 2.0 and highlights the considerable speed of its network:
Harmony is quite similar to Ethereum 2.0. This is because Harmony leverages the Ethereum Virtual Machine (EVM) for smart contracts and uses a granular PoS Blockchain consisting of four parts. Each part can handle up to 500 operations per second, which means that Harmony can currently process around 2000 operations per second with a transaction precision of 2 seconds.
cryptocoin.com Coin Bureau analyst, whose analysis we share, also mentions the deflationary nature of Harmony’s ONE native token:
Apart from staking, ONE token is used for govarnence and to pay transaction fees. When it comes to transaction fees, all ONE tokens used to pay transaction fees are burned on the Harmony Blockchain. However, ONE is not deflationary. This is because a fixed supply of 441 million ONE tokens is minted each year and ONE token transaction fee burns are designed to burn ONE tokens that would otherwise be minted.
The analyst thinks the project could easily reach ATH levels in the coming months due to solid foundations and tokenomics. He also says that while noting that Harmony is currently more decentralized compared to other cryptos, it is “away from decentralization from day one.” Finally, the analyst thinks that if ONE becomes more centralized, it could be listed on Coinbase, but face stiff competition from altcoin giants Solana, other projects with more “manpower” such as Ethereum and Avalanche. As for price expectations, the analyst sets the following levels:
ONE token can reach ATH levels at a more opportune time. And my long-term technical analysis shows it could hit $0.50 later this year or early next year.
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