Streamr (DATA) rises 70% in 48 hours and Streamr price prediction

DATA experienced a significant bullish trend in the last two days, reaching $0.09898, over 70% change. Notably, this surge is complemented by a substantial increase in trading volume of over 65% within the last 24 hours, with the token trending in most crypto exchanges.

Currently the Steamr price is around $0,086.

What is Streamr (DATA) Coin?

DATA is the local token of the Streamr network that primarily focuses on real-time data. The network was launched in 2017, enabling real-time data transfers on the decentralized infrastructure to replace most centralized messaging apps.

Instead of the traditional trust within a peer-to-peer communication network, Streamr relies heavily on cryptography. That means users only need to trust the blockchain system instead of each other.

What is driving the Streamr Coin price up?

The recent surge in price is because of the announcement of their Testnet 2 node. Such announcements testify to the team’s commitment to continuously improving their infrastructure.

While the community eagerly waits for the implications of the Testnet 2 node, the recent surge in trading volume directly shows the community’s confidence in Streamr. Couple that with the network’s dedication to advancements, we expect a period of a strong bullish trend.

Will Streamr (DATA) coin reach $0.1?

According to technical indicators, DATA’s price sentiment is Bullish, while the Greed&Fear Index shows 74 (Greed). More importantly, based on historical data on Streamr and Bitcoin’s halving that will happen next year, the price prediction of this coin stands at $0.085 in 2024.

However, the current jump shows a lot of enthusiasm surrounding this coin, and we could close the year at $0.1. So far, the coin has already touched $0.09 several times, an indicator that the bulls are struggling to break this level despite the resistance. Now, whether they succeed or not is all a matter of time and how this coin price closes today.

Remember, this coin has lost momentum several times in the past and quickly reversed to close the month with a strong bear trend. That said, such movements could happen again. That’s why it’s important to trade only money that you are willing to lose and to know when to exit the trade.

Other than that, the future seems bright for this coin and we could see some significant gains before the year ends. DATA coin has come a long way and its network has a lot of potential.