Is Ocean Protocol (OCEAN) a Good Investment?

Blockchain enthusiasts looking for promising coins and tokens to purchase often focus on the technology underlying a project. And when it comes to strong technologic fundamentals and real-life use cases, few projects in the crypto ecosystem can compete with the Ocean Protocol. But what is Ocean Protocol really, and is OCEAN a good investment according to the experts?

What Is the Ocean Protocol?

Ocean Protocol (OCEAN) is a blockchain-based decentralized data ecosystem empowering people to effortlessly share and monetize data by tokenizing it as Ethereum (ERC-20) tokens. Ocean Protocol was founded in 2017 by a group of early blockchain developers and veterans of the data industry, and the project has been rapidly developing ever since.

Thanks to the Ocean Protocol, both individuals and businesses can benefit from sharing their data with others in a fully private way, all while being able to retain full control over the data. Meanwhile, data consumers – such as data analysts, scientists, and researchers – can gain access to new, high-quality datasets they wouldn’t be able to access otherwise.

How Does the Ocean Protocol Work?

The main aspect of the Ocean Protocol is using smart contracts to make both sharing and accessing data as effortless and effective as possible. All types of data can be tokenized and securely stored on the blockchain.

While the tokenized data can be accessed as a service, it never actually leaves the data owner’s secure block on a distributed ledger. Because of that, data providers can be sure that they always retain full control of the data all while being empowered to monetize it in a private way to specific audiences.

What Is the OCEAN Token?

OCEAN is the native utility token employed in the Ocean Protocol ecosystem. The OCEAN token fulfills many important use cases: not only is the main digital currency used for the data consumers to acquire access to the data, and for the data, providers to be rewarded, but it also serves as the governance token of the platform, guaranteeing that the Ocean Protocol remains a highly decentralized ecosystem.

The OCEAN token also features some advanced DeFi-like functionalities, such as staking or the Ocean AMM (Automated Market Maker). The Ocean AMM is used to regulate the price of OCEAN according to supply and demand, in order to protect the token value from high market volatility.

Ocean Protocol Tokenomics & Price History

The Ocean Protocol has a fixed max supply of 1,410,000,000 OCEAN (1.41 Billion), which means that the OCEAN token is fully deflationary and will very likely appreciate in value over time. Because of that, Ocean Protocol is a good investment for blockchain enthusiasts wanting to make a long-term purchase.

Currently, only around 613,000,000 OCEAN tokens are in circulation. According to the estimates, it will take 50 years for the full Ocean Protocol to be released to the market, after which no new tokens will be added to the circulating supply.

The price of OCEAN started to grow rapidly in June 2020, even before the massive crypto bull run started. Ocean Protocol was able to reach its current all-time high of $1.94 on April 11th, 2021.

The current ROI (Return of Investment) of the Ocean Protocol token is over 1232%, which is one of the reasons why so many experts believe that OCEAN is a good investment.

OCEAN Price Predictions for 2021

Ocean Protocol is one of the altcoins with the most extensive use cases in the blockchain ecosystem. Because of that, most members of the community are convinced that the OCEAN price will be able to massively appreciate by the end of the year.

According to the popular crypto investor going by the name Jean-Pierre, the OCEAN token price will reach $10 by the end of the year. This particular Ocean Protocol price forecast seems to be very popular in the crypto community, as it is shared by a large number of people.

My EOY price predictions…$btc $150,000$eth $10,000$bnb $2,000$doge $0.75$vra $3.25$cake $100$ocean $10$kai $1.00$ubx $0.50$kishu $0.0001$dot $200$link $1000$mtv $0.75$tel $0.50$luna $50$ltc $500$xrp $0.20

The picks are in 🔮.

— Jean-Pierre 💎🇺🇸 (@moneylongboi) May 7, 2021

The exact same OCEAN price target of $10 was also published by the Bitcoin investor CryptoSurrendr:

EOY price predictions:$LINK – $500$RSR – $1$DOT – $400$ADA – $9$ETH – $10000$OCEAN – $10$VET – $2$HBAR – $3$YFII – $12000$COTI – $5$VRA – $2$XLM – $4$DOGE – $2$NIM – $0.20$XMR – $1000$HTR – $8

🚀🚀🚀

— 𝕮𝖗𝖞𝖕𝖙𝖔𝗦𝘂𝗿𝗿𝗲𝗻𝗱𝗿🖤 (@CryptoSurrendr) May 5, 2021

Another blockchain investor who is convinced that the OCEAN price will reach $10 is Mark Landers:

My current bags and EOY price predictions :

1️⃣ $DOT $200
2️⃣ $KSM $2000
3️⃣ $RSR $0.5-$0.6
4️⃣ $RUNE $40
5️⃣ $LUNA 🌕 $60
6️⃣ $PAID $35
7️⃣ $OCEAN $10
8️⃣ $LCX 💎 $0.5
9️⃣ $HTR 5$
🔟 $PHA 7$

— 🅡B (@Mark_Landers1) February 20, 2021

While the $10 is by far the most popular Ocean Protocol price target, some analysts have also published OCEAN price forecasts which are more bullish than that. For example, the blockchain entrepreneur Goran Krznaric thinks that the OCEAN price will reach $15 by the end of the year.

Price predictions for some: I think that some prices will be even higher by EOY but let’s be conservative:$ETH 5000$$BAND 80$$ANKR 0.70$$LINK 100$$UMA 90$$REEF 0.50$$OCEAN 15$

— Goran Krznaric (@krznaric_goran) April 28, 2021

The popular researcher Altcoin Crypto RUBS gave an even higher prediction. He is convinced that the Ocean Protocol price will be able to surpass $23 in 2021.

My price predictions for EOY 2021:$XRP $.0005$BTC $95,000$ETH $7.5k$DOT $125$RSR $3$DAG 1,5$$HNT $16$NOIA $6.5$LINK $600$OCEAN $23$VRA $0.37$FRM $4.50$QNT $550$HTR $15$REN $6$ORAI $240$OCTO $270$KYL $2.50$UNN $1$SPDR $0.6$LABS $0, 7

— Altcoin crypto RUBS🚀 ⌚ (@rubsTV) March 23, 2021

The Twitter user Zeus Protocol is even more bullish. He believes that OCEAN is a very good investment and that the Ocean Protocol price will reach $35 by the end of the year.

My price predictions for EOY 2021:$DOT $125$RSR $4$DAG $3$HNT $17$NOIA $ $10$LINK $1000$OCEAN $35$FRM $4.50$QNT $550$HTR $15$REN $10$ORAI $300$OCTO $300$KYL $2.50$UNN $1.25$BOND $1$SPDR $1

– Copied

— Zeus Protocol ⚡ (@whytencastle) January 15, 2021

Finally, one of the most optimistic predictions was published by the popular profile Los Pollos Cryptos. According to the forecast, the OCEAN price can even reach $50 in 2021.

Can OCEAN Reach $10 In 2021?

All things considered, $10 definitely seem like a very realistic OCEAN price prediction for 2021. Most members of the crypto community are convinced that this forecast is fully possible because of the strong technologic fundamentals and important use cases of the Ocean Protocol.

Where to Buy the Ocean Protocol Token?

The OCEAN token can be purchased on most of the major centralized exchanges such as Binance, KuCoin, Kraken, and Bittrex. Since the Ocean Protocol is an ERC-20 token, it’s also available on Ethereum-based DEXs (decentralized exchanges) like Uniswap and Sushiswap.

Is OCEAN a Good Investment?

Ocean Protocol has already proven to be a high-quality project by being able to provide a very high return of investment to its early adopters. Given its technological fundamentals, it’s almost certain that the OCEAN price will continue to grow. While most people are convinced that the Ocean Protocol will reach $10 in 2021, some experts believe that OCEAN can reach $35 or even $50 by the end of the year.