The Harmony price did well in 2021 as investors cheered the platform’s growth. The ONE token jumped from a low of $0.03 in January 2021 to $0.23 in December. That was a 7,100% increase, which brought the total market capitalization to more than $3.66 billion. It is now the 50th biggest cryptocurrency in the world.
Harmony 2021 review
Harmony is a smart contract blockchain project that is known for its speed and low transaction costs. It uses a compute model known as Geth EVM 1.9.9 that has faster speeds and lower costs. Its finality on Ethereum is 2 seconds and about 6 minutes.
Developers have embraced the network. It now has about 227 applications and more than 403k wallets. There are about 244 million worth of assets staked across three chain bridges while more than 7,000 artists have chosen Harmony for their NFT projects.
This strong performance happened as Harmony unveiled several key partnerships in 2021. For example, in December, it announced a partnership with Chainlink, the smart oracle network. This means that the Chainlink Price Feeds can run on the platform.
The announcement came a few weeks after Harmony partnered with Hummingbot Foundation to launch a liquidity decentralized autonomous organization (DAO). It also partnered with Stake DAO and The Graph, the network that saves developers’ time on queries.
The other important development was the launch of a cross-chain NFT bridge. This bridge helped to lower the cost and promote developers in the platform.
2022 will likely be an exciting time for Harmony and other decentralized platforms as user adoption grows. Still, the biggest risk for the ONE price is that the Fed has turned hawkish, which is often challenging for risky assets.
Harmony price prediction
The daily chart shows that the Harmony price has been in a bullish trend in the past few months. As a result, the price has moved above the ascending trendline that is shown in red. It has also formed what looks like an ascending triangle pattern.
The ONE price is also above the 25-day and 50-day moving averages (MA) while MACD and the Relative Strength Index (RSI) have been rising. Therefore, the coin will likely keep rising as bulls target the key resistance at $0.50.
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