Serum Crypto: A Good Investment?

Serum (SRM) is a decentralised exchange (DEX) and cryptocurrency built on the Solana blockchain. It aims to bring the speed and convenience of centralised exchanges to the decentralised finance (DeFi) space. The platform's native token, SRM, is still being traded, despite the collapse of FTX, which was its biggest backer.

Serum has been described as a wise investment for the long-term, but it is important to remember that the cryptocurrency market is extremely volatile, and prices can go down as well as up.

Serum's price has fluctuated since its launch in 2020, reaching an all-time high of $13.72 in September 2021. As of January 2023, its price was about $0.1555, and it is currently (as of August 2024) worth $0.04112.

Various analysts have made predictions about the future price of Serum, and while some are optimistic, others are more bearish. For example, CoinArbitrageBot predicts that SRM could rise to $1.40 in 2023 and $4.04 in 2025, while Wallet Investor forecasts that the token's price will fall to just $0.0144 by January 2024.

Ultimately, it is important to do your own research and remember that past performance is no guarantee of future returns.

Serum's value and future prospects

Serum (SRM) is a decentralised derivatives exchange (DEX), cryptocurrency, and DeFi ecosystem built on the Solana blockchain. It aims to bring the speed and convenience of centralised crypto exchanges to the decentralised finance (DeFi) space.

The Serum token (SRM) is an SPL token that lives on the Solana blockchain. It is also cross-listed on the Ethereum blockchain as an ERC-20 token. SRM has a maximum supply of 10 billion tokens, with a circulating supply of 263,244,669 SRM coins.

Serum offers several advantages over other DEXs. It introduces more flexibility by allowing developers to create DEXs with in-depth CEX-like features, such as stop and limit orders. This integration brings the convenience of centralised exchanges to DeFi, reducing technical barriers and making it easier for users to switch to a DEX. Serum also provides faster transaction settlement times, with a network speed of 65,000 transactions per second, more than double that of major payment processors like Visa and MasterCard.

In terms of value, Serum has experienced a volatile price history. It first came to the open market in 2020, opening at $0.11 on 11 August and quickly rising to $1.69 the next day. Serum reached its all-time high of $13.72 on 11 September 2021 but has since declined, with a live price of $0.098077 USD as of June 2024.

Looking ahead, Serum's future prospects appear promising, with several price predictions indicating potential growth:

• According to Cryptopolitan, Serum's price could reach a maximum of $0.75 by 2029 and $2.44 by 2032.
• CoinArbitrageBot predicts that Serum could rise to $1.40 in 2023, $2.50 in 2024, and $4.04 in 2025.
• CoinsKid forecasts that Serum could close 2023 at $0.2095 and 2025 at $0.3168.
• PricePrediction estimates that Serum could reach $0.49 by 2026 and $2.09 by 2030.
• CoinPedia and Coinpedia's analysts predict that Serum could peak at $0.106 by the end of 2024.
• According to CoinPedia's analysts, Serum's price could range between $0.13 and $0.27 in 2026, and between $0.18 and $0.36 in 2027.

However, it's important to note that cryptocurrency markets are highly volatile, and price predictions can often be wrong. Investors should always conduct thorough research and consider various factors before making investment decisions.

Serum's performance in 2022

There was a brief recovery after that, with the token breaking back past the $1 level, but in mid-August, it fell again, and by September 29, 2022, Serum traded at a daily low of $0.75. Things seemed to be on the up in early November, with Serum reaching a high of $0.869 on November 5, but then the collapse of FTX saw it drop to $0.1707 on November 14. It closed the year at $0.1428.

The collapse of FTX and its impact on Serum

The collapse of FTX, a Bahamas-based cryptocurrency exchange, in November 2022, had a significant impact on its backers, including Serum. FTX's bankruptcy was triggered by a surge in customer withdrawals, exposing an $8 billion hole in its accounts. This event sent shockwaves across the cryptocurrency markets, with the price of Bitcoin plunging to a two-year low.

Serum, a decentralized derivatives exchange (DEX) and DeFi ecosystem built on the Solana blockchain, was heavily dependent on FTX. With the collapse of FTX, Serum's security was jeopardized as FTX held the upgrade authority. This led to protocols like Jupiter Exchange and Raydium Protocol migrating away from Serum. The Serum team acknowledged that the collapse of FTX and Alameda rendered the Serum program on the mainnet "defunct."

The impact of FTX's collapse on Serum was immediate and severe. The security breach and the migration of protocols away from Serum resulted in a significant drop in volume and liquidity for Serum. The future of Serum's native token, SRM, also became uncertain, with community members divided on whether it should continue to be used.

Despite the challenges, there was a glimmer of hope for Serum. The announcement of a community-led fork, OpenBook, signaled a potential revival. OpenBook, already live on Solana with over $1 million in daily volume, aimed to address the security risks associated with the old Serum code.

The collapse of FTX had far-reaching consequences, not just for Serum but also for other exchanges and the broader cryptocurrency market. It highlighted the inherent contagion effects of unregulated products and the need for better risk management and regulation in the industry.

Serum's price predictions for 2023-2025

Serum (SRM) is a decentralised derivatives exchange (DEX), cryptocurrency, and DeFi ecosystem built on the Solana blockchain. The current price of Serum is $0.0296 USD, and it is ranked #662 in the cryptocurrency market.

2023

According to Cryptopolitan's current price prediction, Serum is expected to surge in price in 2023 and potentially reach a maximum price of $0.074. The average price forecast for 2023 is $0.069, while the minimum price is expected to be $0.067. Wallet Investor, on the other hand, predicts a bearish outlook for SRM in the short term, with the price going down to $0.0688 by November 2023.

2024

For 2024, Cryptopolitan predicts a maximum price target of $0.12 and an average trading price of $0.098. The minimum forecast is expected to be around $0.10. According to 3 other sources, the average price for 2024 is expected to be $0.06435, with a maximum of $0.0893 and a minimum of $0.0394.

2025

Cryptopolitan's forecast for 2025 suggests that SRM will reach a maximum price target of $0.17 and an average trading price of $0.15. The minimum forecast is expected to be around $0.14. 2 other sources predict the average price for 2025 to be $0.151, with a maximum of $0.179 and a minimum of $0.124.

2026

According to Cryptopolitan, SRM's price might potentially surge to a maximum price of $0.25 in 2026. The coin is expected to trade at an average price of $0.20 and a minimum value of $0.21. Digital Coin Price also predicts continuous growth in the coming years, with the maximum price of Serum reaching $0.25 by the end of 2026.

2027

Cryptopolitan's SRM price prediction for 2027 is that the coin will reach a maximum value of $0.36, with an average predicted price of $0.31 and a minimum value of $0.25.

2028

According to Cryptopolitan, SRM is expected to continue on a bullish sentiment in 2028, reaching a maximum price of $0.52. The average predicted price is expected to be around $0.45, while the minimum forecasted value is likely to be $0.40.

2029

Cryptopolitan predicts that SRM will continue surging in price in 2029, reaching a maximum price of $0.75. The average forecasted value is around $0.64, and the minimum value is expected to be $0.62. Wallet Investor, however, takes a different view, expecting SRM's price to be around $0.00672 by the end of 2029.

2030

By 2030, Cryptopolitan predicts that SRM will continue its upward trajectory, with a maximum value of $1.10 and a minimum trading price of $0.92. The average price forecast is expected to be $0.94. Price Prediction and Tech News Leader also offer forecasts for 2030, with maximum values of $0.604 and 0.64673, respectively.

It is important to note that the crypto world is highly volatile and unpredictable, and these price predictions are subject to change based on various market factors.

The pros and cons of investing in Serum

Pros

• Serum is a decentralised exchange (DEX) built on the Solana blockchain, which has a reputation for being fast and cheap. This means that Serum users benefit from low transaction fees.
• Serum is permissionless, meaning that users can carry out transactions without gaining permission from a central authority figure.
• Serum's unique market strategy streamlines DEX creation and DeFi adoption. It also allows users to create dynamic and highly responsive DEXs using a host of developer resources.
• Serum supports cross-chain trading, which is cheaper and more secure than trading through a third party.
• Serum's deflationary tactics involve taking 80% of all DEX fees and putting them towards a buy and burn strategy, which helps to fight inflation.
• Serum's advanced smart contracts remove all human intervention from the core processes of the system.
• Serum's governance token, SRM, can be staked to optimise the network's performance and offers holders staking rewards, trading fee reductions and fee revenues.
• Serum's on-chain order book allows users to take control of their trading by specifying order price sizes and choosing the trade direction.
• Serum is completely permissionless, built on the high-performing Solana blockchain, and interoperable with the Ethereum blockchain.
• Serum's SRM token can be used as network fees or staked to earn rewards.
• Serum's SRM token holders can get up to a 50% discount on trading fees.

Cons

• Serum is dependent on FTX, so when that network was affected by chaos, Serum was impacted.
• Serum's security is in jeopardy as FTX holds the upgrade authority.
• Serum's native token, SRM, has no official founders listed, which may deter potential investors who want accountability.
• Serum's value is unpredictable and volatile.
• Serum's price history has been bearish, with the token experiencing peaks and troughs and, at the time of writing, is selling at a discount.
• Cryptocurrency markets remain extremely volatile, making it difficult to predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates.

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