Connect with us

Learn

Is DEGO Cryptocurrency a Good Investment?

Published

on

Dego Price Prediction Cover

You are probably wondering which altcoins to invest in for long-term gains among the thousands of active blockchain projects. Dego Finance (DEGO) is one of the most exciting DeFi projects catching the eyes of investors and traders as well. Is DEGO really a good investment? Is it suitable for short-term or long-term investment? We hope our DEGO price prediction will help you make a good investment decision by answering all your questions regarding the project.

Just like any other cryptocurrency, DEGO experiences massive price volatility which is why you need to make an accurate DEGO price prediction to trade accordingly. The growth trajectory of DEGO tokens over the next five years is anticipated to be consistently high. So, if you are looking for reasons to invest in Dego, and its background history, this article is for you.

What is Dego Finance?

Dego Finance is decentralized finance (DeFi) protocol launched in 2020 by an anonymous team. It offers a mixture of decentralized finance (DeFi) non-fungible tokens(NFT) tools. It is one of the independent Open NFT ecosystems in the cryptocurrency industry. Dego Finance project aims to patch up the reasons and utility of NFTs via a collection of user-friendly applications. The native utility token for the Dego platform is DEGO.

Dego Finance platform is developed to provide a conducive NFT ecosystem that enables users to easily and quickly issue NFTs, trading, mining, and even opening them for auction. It also has a great plan to offer cross-chain layer two solutions that highly featured NFT applications created by the blockchain project. This helps the completed NFT applications to grow their user base and build NFT-based applications with actual utility.

Dego Finance includes governance and equity token called DEGO. The token is used for voting proposals of community governance and helps in making a reputable decision about the growth of DEGO ecosystem. In addition, holders of DEGO tokens also receive dividends paid from transaction fees generated by the Dego Finance network.

Initially, Dego Finance was launched on Ethereum Blockchain, but it changed to Binance Smart chain since it has low fees.

Who is Dego Finance Founder?

The team behind the development and launching of Dego Finance is anonymous as of August 2021; this was a choice for the development team not to take credits for the project.

How Does Dego Finance Work?

Every investor has a primary preference when investing in cryptocurrencies, and a conducive ecosystem is one of them. DEGO Finance aims to provide an ecosystem with highly varied products for everyone. It also has plans to expand different modules to offer more related services.

In February 2021, DEGO already had numerous working modules. The staking module is the most popular. Through the stake module, users earn rewards by staking their tokens to provide tokens. Dego Finance has a yield farming solution, unlike other systems. This solution uses an algorithm-tweaked reward system that has favored new investors by offering one-time rewards to whales, five times rewards to the intermediate stakeholders, and three times the reward to users with a low stake.

A fresh DEGO module in testing into GameFi called ‘Experiment.’ This module allows users to cast, trade, mine, and auction NFTs. To produce value beyond the simple collection, the DEGO NFT module combines gaming and finance. For example, NFTs can be broken into assets that were initially locked during their creation process. I.e., BEP-20. To earn DEGO tokens, the assets can also be staked, making the assets an expected source of income to the users.

There are massive modules in development, including Hunter, an aggregator for yield, DEGO swap, Dandy, Reward pool, DEGO insurance, etc. The Dego Finance system is still in its development roadmap and has promising features to be launched shortly.

Here you can find more basic info on DEGO.

What makes Dego Finance (DEGO) Unique?

The uniqueness of Dego Finance is from the approach it adopts in developing powerful NFT-based decentralized finance (DeFi) applications. It uses a modular system. It purposes to make each application in the ecosystem a sort of LEGO brick. Through this, projects are easily combined into various structures and develop in their product to create new asset offerings.

Also, DEGO has a completely working NFT market called GEGO V2 and an action platform. The auction platform allows NFT holders to buy and sell their NFT Tokens using Ethereum easily.

Additionally, users of Dego Finance can earn DEGO tokens by buying them from supporting exchange platforms (Uniswap) or participating in liquidity mining. While transferring DEGO, 0.25% of the wired amount is burned, while 0.25% is put in the dividend pool for allocation to other DEGO holders.

How DEGO NFTs Work

There exist six grades of DEGO NFTs. They include Bronze, Silver,  Gold, Platinum, Diamond, and Kryptonite. Efficiency and power value for mining these NFTs vary with each. Therefore, the yield earned is determined by mining efficiency when staking the NFT to earn DEGO tokens.

Currently, Bronze is the lowest grade, and Kryptonite is the highest. Also, the tier of NFT ranging from 1-7 is determined by power value. Tier value will play a massive role shortly for DEGO products.

Apart from using NFTs for liquidity mining, users can also auction their NFTs or sell them to one of three supported platforms. These platforms are the DEGO NFT Market, BSC NFT Market, and Opensea.

Dego Finance Price History

DEGO-USDT-chart

DEGO USDT chart, the daily time frame. Source: Tradingview

At the time of writing, DEGO trades at $9.90 with a market cap of $84 903 691. Coinmarketcap ranks Dego at 384 in the crypto charts with a maximum token supply of 21,000,000 DEGO coins. However, the circulating collection is 8,607,383.

Dego hit an all-time low of $0.424 in September 2020. In March 2021, it hit an all-time high of $33.41 before dropping to its current price level.

Dego Finance Technical Analysis

Though no technical analysis is considered 100%, TradingView provides a sophisticated tool that enables users to see the real-time aggregated buy-and-sell rating for a chosen timeframe. The summary is based on major technical indicators.

DEGO Price Prediction

YearPredicted ForecastHigh Forecast
2021$38.9464435$44.30
2022$47.50$51.98
2023$50.10$64.73
2024$63.07$72.66
2025$69.80$84.33

Like any other altcoin, Dego Finance experiences high volatility. This makes it helpful to make predictions of DEGO prices in the market. Technical analysis techniques like identifying resistance levels, horizontal support, calling on indicators, and calculating moving averages. This is done to measure market strengths and weaknesses of Dego Finance and make price predictions using available tools. An excellent example of analyzing tool is TradingView.

The following are price projections for DEGO from some major reliable forecast platforms:

DEGO Price Prediction Across 2021, 2022, 2023, 2024, 2025 by DigitalCoin

A technical analysis by DigitalCoin shows that DEGO coin price is likely to project higher in five years, starting from $10.6895 currently up to $38.9464435. In 2022, the price will likely go up to $17.6515044 and continue project high in 2023-2024. This analysis gives confidence to long-term investors as it proves that DEGO is an excellent long-term investment.

 DEGO Price Prediction for 2021, 2023, 2025 by WalletInvestor

A technical analysis by WalletInvestor shows that, in one year, DEGO will grow from $10.7 to $22.227. This analysis makes DEGO a superb long-term investment.  The long-term earning is estimated to be 107.73%.

Why invest in Dego Finance (DEGO)

Like most cryptocurrencies, Dego is also volatile, and its price changes are unpredictable. However, Dego Finance is a promising project.

The project has promising modules which will provide new features not yet in the market. This brings in a positive insight about it coming to revolutionize the NFT marketplace. The success of this vision will be made possible by bringing more utility and combining decentralized finance (DeFi) and gaming. Moreover, the platform offers a significant advantage to investors and developers who want to create, trade, mine, or auction their tokenized work. This is because it provides a unique ecosystem with these functionalities.

Pros and Cons of Dego Finance (DEGO)

Pros

Due to the variety of features and modules, Dego Finance has several benefits. They include:

  1. Staking
  2. Fast transactions
  3. An excellent distribution reward system
  4. Security and
  5. clear payment methods.

Cons

Since Dego Finance is a growing cryptocurrency, users have to wait for new features to be launched for them to use. Therefore, the upgrade of modules may also have a negative impact.

Where to buy Dego Finance?

DEGO is supported for trading by numerous crypto exchange platforms. However, currently DEGO cannot be purchased directly using fiat money. Due to this issue, you must buy other popular cryptocurrencies like Bitcoin or  Ethereum first from large exchange platforms. After acquiring one of these cryptos, you can transfer to an exchange that supports DEGO.

You buy one of the popular cryptocurrencies, let us say Bitcoin. Then, you can use the exchange platform of your choice. Let us use the Binance crypto exchange for elaboration since it’s among the most popular crypto exchange platforms that accept fiat deposits.

After completing the KYC process, you will be prompted to add a payment method. You can either use a credit/debit card or even bank transfer and buy a popular cryptocurrency that can be exchanged with DEGO.

cryptotelegram-telegram-banner

Trending