Scrt Coin: A Wise Investment Decision?

Secret (SCRT) is the native token of the Secret Network, a decentralized network for private and secure computation. The Secret Network brings encryption to smart contracts, which means the input and output of Secret smart contracts are fully encrypted, providing default data privacy for smart contracts. With Secret tools, developers can build decentralized applications while keeping data private. The Secret token can be used as a gas fee across all Secret apps, for staking, and for voting governance in the Secret protocol. As of August 2024, the market cap of Secret is $56.95M USD, with a circulating supply of 286.46M. The current price of Secret is $0.198809 per (SCRT / USD), but predictions for the future price vary. Some sources predict the price of Secret will increase over the next few years, with one source predicting the price will reach $4.78 by the end of 2030. However, other sources are more cautious, noting that Secret, like all other cryptocurrencies, is a risky investment. While it has a higher probability of going up than down, there is no guarantee of future performance.

SCRT price predictions for 2024-2030

The Secret Network is an independent, layer-1 blockchain-based network built using the Cosmos SDK. SCRT is the native token of the Secret Network and is used as a gas fee across all Secret apps.

2024

• According to CoinCodex, the SCRT price prediction for 2024 is between $0.371833 and $0.566630.
• TradingBeast predicts a decline to $0.3321.
• WalletInvestor predicts a further decrease to $0.0623.
• Secret Price Prediction forecasts the price to be around $1.02.
• Money from institutional investors is flowing into the cryptocurrency market, and if this continues, the credibility of the coin will reach the same level as fiat currencies with appropriate regulations by 2024. SCRT token price prophecies $1.07 for the start of 2024, and the average price is expected at $0.755; the maximum value is expected at $1.07. The minimum price SCRT may fall to is $0.44.
• According to SwapSpace, in 2024, the Secret price is expected to reach $0.4317072179239798.

2025

• The Secret price prediction for 2025 is currently between $0.371833 on the lower end and $0.837732 on the high end.
• Secret Price Prediction forecasts the price to be around $1.45.
• The SCRT price prediction for 2025 is bullish, and by the year's end, the secret price will be equal to $1.27, almost triple the current price level.
• PricePrediction.net forecasts the coin's price to go down to $0.2161 by December 2025.
• TradingBeast predicts the price to be around $0.5841.

2026

• The Secret price prediction for 2026 is between $0.263210 on the lower end and $2.65 on the high end.
• Secret Price Prediction forecasts the price to be around $1.66.
• The maximum price of SCRT may reach $1.76. The minimum price and the average price are expected to be around $1.45 and $1.60, respectively.
• PricePrediction.net and TradingBeast are positive about the 2026 Secret price prediction, valuing Secret in the $0.5041–$0.5961 range.

2027

• Secret Price Prediction forecasts the price to be around $2.10.
• The average price is expected at $2.065 levels, and the minimum price expected is $1.88. The maximum price level it can reach will be around $2.25.
• PricePrediction.net and TradingBeast are optimistic about the 2027 Secret price prediction, valuing Secret at $0.5761 and $0.6202, respectively.

2028

• Secret Price Prediction forecasts the price to be around $2.53.
• It is expected that the coin will have a maximum value of $2.67 with a minimum value of $2.33.

2029

• Secret Price Prediction forecasts the price to be around $2.97.
• The minimum price of SCRT is expected to be $3.31, with a maximum price of $3.68 in 2029. The average trading price throughout the year is expected to be near the $3.495 price level.

2030

• Secret Price Prediction forecasts the price to be around $3.12.
• The Secret price prediction for 2030 is between $0.263210 on the lower end and $2.65 on the high end.
• According to SCRT price prediction, the coin will trade positively, and with significant mass adoption, the Secret price will touch new highs in 2030. The average price at which SCRT is expected to trade for the year is $4.96; it may reach a maximum value of $4.78 by the end of 2030.
• TradingBeast predicts the price to be $0.4441 by the end of 2030.
• PricePrediction.net predicts an uptrend to $0.7042.

Please note that the content provided is for general information purposes only and is not investment advice. The cryptocurrency market is highly volatile and unpredictable.

Secret Network's privacy features

Secret Network is a decentralized network of computers that use hardware- and software-based privacy technologies to enable secure computation. It is the first mainnet blockchain with privacy-preserving smart contracts, launched in 2020. This makes it possible to build apps that are decentralized and permissionless, yet private.

Encrypted Inputs, Outputs, and State

Secret Network's smart contracts, also known as Secret Contracts, are private-by-default. All inputs, outputs, and states are encrypted and can't be viewed by others unless they are given access. This ensures that data remains confidential and secure, even from the nodes running the Secret Network blockchain.

Trusted Execution Environments (TEEs)

TEEs function like a "black box" for data processing, allowing validators on the Secret Network to verify transactions within a block without accessing the data inside. Each validator runs their code inside a TEE, ensuring that no one, not even the nodes operating on the network, can access the decrypted and processed information.

Viewing Keys for Access Control

Since the data on Secret Network is encrypted and private by default, users are provided with viewing keys to access their sensitive information. These viewing keys can be shared with third parties, such as auditors, wallets, and explorers, allowing users to maintain control over their data and decide what information is shared and with whom.

Secret Bridges and SNIP-20 Standard

With Secret Bridges and the SNIP-20 standard, users can make any token privacy-preserving. Once tokens are "Secret", balances, transaction details, and token metadata can only be accessed with a viewing key, ensuring privacy and confidentiality.

Private Metadata and Ownership for NFTs

Secret Network's NFTs offer private metadata and ownership, allowing creators to control who can access their content and how. This feature helps protect the identity of fans and enables the creation of art and entertainment not possible on other platforms.

Programmable Privacy

Secret Network goes beyond transactional privacy by offering programmable privacy. This means that applications can use encrypted inputs, outputs, and states, enabling groundbreaking new use cases for smart contracts and decentralized applications.

Interoperability and Scalability

Secret Network is built using CosmWasm, enabling it to run on multiple chains using IBC and interact with the Cosmos ecosystem. This ensures interoperability and scalability, allowing for a wide range of organizations and individuals to participate in the network.

SCRT's price history

The native token of the Secret Network, SCRT, has had a volatile price history since its launch.

The price of SCRT began to increase significantly in October 2021, reaching an all-time high of $10.64. This price surge was likely due to the skyrocketed interest in cryptocurrencies and the network's unique value proposition of bringing encryption to smart contracts. However, the value of SCRT started to deteriorate from April 2022 onwards, with the price falling below $1.

In 2024, the coin started to recover, with the announcement of the Supernova mainnet upgrade being one of the prime reasons behind the price rush. SCRT enthusiasts started trading and investing in the coin, causing the price to rise. As of June 2024, the price of SCRT is predicted to be around $0.3589 in the next 90 days.

Looking further ahead, predictions for SCRT's price vary. Some sources predict that the price will reach $1.02 by the end of 2024, while others forecast a price of $1.07. In the long term, some predict that the price of SCRT could reach $100, but only in the distant future, after 2030.

It is important to note that predicting the future price of any cryptocurrency is highly speculative, and the actual price may differ significantly from these predictions.

Factors affecting SCRT's price

SCRT is the native token of the Secret Network, a decentralized network for private and secure computation. The Secret Network is an independent, base-layer blockchain network built using the Cosmos SDK. It supports smart contract development and prioritises data privacy, allowing developers to build decentralised applications that protect user data and preserve privacy.

The Secret Network's native SCRT coin is not a privacy coin. All transactions made in SCRT are publicly visible, similar to those of Bitcoin or Ethereum. However, Secret tokens on the Secret Network are crafted using the SNIP-20 standard, which ensures that all Secret tokens have their privacy preserved by default.

• Market sentiment and investor confidence: The cryptocurrency market is highly volatile and susceptible to shifts in market sentiment. Investor confidence can be influenced by various factors, such as regulatory changes, media coverage, and the adoption of digital assets by institutional investors. Positive market sentiment and increased investor confidence can drive up the demand for SCRT, leading to price increases.
• Competing privacy-preserving smart contract networks: The Secret Network operates in a competitive market with other privacy-preserving smart contract networks. The success and popularity of competing networks can impact the demand for SCRT. If competitors offer more innovative features, better privacy protections, or gain wider adoption, it could negatively affect the price of SCRT.
• Adoption and usage of the Secret Network: The utility of SCRT is closely tied to the adoption and usage of the Secret Network. As the network gains more users, developers, and applications, the demand for SCRT is likely to increase. Conversely, if the network fails to attract a significant user base or faces competition from more established platforms, it could negatively impact the price of SCRT.
• Partnerships and integrations: The Secret Network's ability to form strategic partnerships and integrations can impact the price of SCRT. For example, the network's integration with OpenSea, a leading NFT marketplace, and the development of a production house named ICONIC for artists and developers to build NFTs, has positively affected its reputation and value.
• Regulatory landscape: The regulatory environment for cryptocurrencies and blockchain technology can significantly impact the price of SCRT. Clearer guidelines and a more supportive regulatory framework can boost investor confidence and drive demand for SCRT. On the other hand, stricter regulations or restrictions on the use and adoption of blockchain technology may negatively affect the price.
• Technical advancements and upgrades: The Secret Network's ability to innovate and implement technical advancements can influence the price of SCRT. For example, the recent Supernova Mainnet upgrade, which positioned the network as a privacy-first platform for Web3, has positively impacted the price of SCRT. Continuous development and improvements to the network's privacy and security features can enhance its competitiveness and attract more users.
• Community and developer engagement: The Secret Network has an active community, including artists, forum participants, developers, and podcast creators. A strong and engaged community can drive the adoption and usage of the network, leading to increased demand for SCRT. Additionally, the network's ability to attract developers and coders to build new applications and features can also impact the price of SCRT.
• Macroeconomic factors: Broader macroeconomic factors, such as global economic conditions, interest rates, and geopolitical events, can influence the price of SCRT. During periods of economic uncertainty or market downturns, investors may be more cautious about investing in risky assets like cryptocurrencies, which could lead to price fluctuations.
• Overall performance of the cryptocurrency market: The overall performance and sentiment of the cryptocurrency market can also impact the price of SCRT. When the market is bullish and cryptocurrencies are experiencing widespread gains, it can drive increased interest and investment in a range of crypto assets, including SCRT. Conversely, during market downturns or periods of uncertainty, the price of SCRT may be affected.

Where to buy SCRT

SCRT tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Secret is Gate.io, where the most active trading pair is SCRT/USDT, with a trading volume of $71,225.53 in the last 24 hours. Other popular options include LBank and BYDFi.

SCRT is also available on several other exchanges, including Binance, Mandala Exchange, Huobi Global, and MEXC.

If you want an easy way to buy Secret (SCRT), you can use a crypto exchange like Coinmerce. You simply indicate how many SCRT tokens you want to buy, and Coinmerce will perform the transaction. You can buy Secret on Coinmerce using a credit card or SEPA.

Frequently asked questions