Acala Token Price Prediction

ACA is a cryptocurrency of the Acala, a decentralized finance consortium, a unique project that is meant to create a kind of financial hub of the whole Polkadot ecosystem. It allows users to mint aUSD stablecoins with the collaterals from parachains that are linked to Polkadot. In short, it is a DeFi platform with financial services within Web3.

ACA has several main functions:

1. Governance
   
   Token holders are able to propose network changes and vote for decisions.
2. Fees
   
   There are two main types of fees. They are administration fees and transaction fees. All of them are paid with ACA.
3. Security
   
   Those who bond DOT get ACA during the parachain leasing phase.

ACA Statistics

Acala Token Roadmap

The roadmap of the project is published on the official website. The development of the project is divided into four main phases:

1. Crowdloan & Genesis
2. Govern via PoA
3. Govern via Council
4. Full Democracy

The first phase is completed, such as to move DOT to Acala Treasury and to enable EVM+. However, the second and third have planned steps. The last phase has not started yet.

Crypto community about ACA

The Acala Twitter account is rather active. People share their worries and expectations. For instance, people are being bothered a lot by the recent hacker attack.

Some users are excited about the future of Polkadot that will happen with the help of Acala.

People believe that an increased value of Acala for the Polkadot ecosystem means that the value of the token itself might follow the upgoing trend.

ACA Price Prediction

Let’s look at the most interesting part. What do analysts expect from the ACA token?

1. Digitalcoinprice.com also has another prediction:

ACA Price Prediction 2024

As of August 18, 2022:

The same positive picture will remain according to Tradingbeasts.com. This resource predicts that the ACA price may go up to $0.92.

WalletInvestor.com does not look into the ACA future with the same optimism. According to this resource 2024 will be marked with a downgoing trend. The price may fall to $0.009.

Digitalcoinprice.com foresees an estimation of the upgoing trend. In 2024 the price will try to reach $0.5.

ACA Price Prediction 2025

As of August 18, 2022:

Tradingbeasts.com supposes that in 2025 the price may surpass the $1 level. WalletInvestor.com predicts a small recovery for the trend. It may change to rising again.

According to Digitalcoinprice.com the bullish trend will remain. The price may try to reach the $0.6 level.

ACA Historical Price Analysis

As of August 18, 2022:

All Time High (Jan 25, 2022): $3.10

The price of the ACA token at the very beginning showed very high price, and after the people’s interest cooled down, the price set up a downgoing trend.

The price also reacts to events that happen around the token. For example, on August 14 a hacker was able to bug iBTC/aUSD liquidity pool resulting in 1.2 billion aUSD being minted without collateral. The hacker’s account was identified, and funds were frozen. However, it raised some decentralization issues. Even though the team was doing anything to protect users, all these things influence the price of the token.

Conclusion

The Acala project provides unique opportunities for all parachains that exist on Polkadot. Undoubtedly, it is an important DeFi project that may bring in a totally new view on decentralized finance.

It is only natural that the improvement of the project is not smooth all the time. There are ups and downs. Nonetheless, it seems that Acala is gaining significance on Polkadot and thus will add value to its token.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.