SNM is the native currency of the SONM platform that is mainly used as a payment method for computing resources. The maximum supply of SNM tokens is 444 million.
Please note that SNM cannot be mined directly, i.e. you can mine BTC or ETH first and then exchange them for SNM.
Another way to earn SNM is to rent your computing power on the SONM marketplace.
Let’s briefly discuss three main use cases of SNM:
- Users can buy computing power (when needed) with the help of SNM tokens.
- SNM holders can access various resources available on the SONM network, including video rendering and video streaming.
- SNM tokens are used to settle orders and transactions on the SONM platform.
SNM tokens are ERC20 tokens, which means they can be stored in any wallet that supports Ethereum, such as MyEtherWallet and Exodus.
SNM Price Prediction
The current market price of the SNM token at the time of writing is $0.926 and it has decreased by almost 7.8% in the last 24 hours.
Before we predict whether SNM should go up or down in the near future, let’s give an overview of its price history over the past few months.
Your performance in recent months can help us achieve the required context for the future. Let’s discuss:
The SNM 3-month chart shows that its price has increased by more than 81% in three months, although the increase has not been consistent.
Its market price three months ago was $0.17 and then it peaked at $8.2 three days ago. Since then, the price has fallen again.
If we look at its 1-month chart, we can easily tell that the pattern is almost similar to its 3-month chart.
A month ago, SNM was priced at $0.25 and has since risen by more than 73%.
As we can see that SNM crypto is doing quite well for a few days, we also look at other factors to predict its future price.
Is SONM really necessary?
SONM provides a platform for real world application (as we have already discussed). The network can potentially do multiple jobs, including math, machine learning, large-scale deployment, web hosting, etc.
SONM can easily use any hardware on the Provider’s machine, such as memory, disks, CPU and GPU. Furthermore, users can select the desired amount of computing resources according to their needs.
Now the crucial question here is: is there really a demand for such services? Let’s find out together.
Cloud computing has been around since the early 2000s, through which users can rent access to IT infrastructure instead of owning their own resources. These services have grown a lot since then, offering a wide range of options, from storage to processing power.
Here, cloud computing
it has become an important part of various industries where users can simply move their workloads to the cloud. Instead of spending on infrastructure and application software, many companies (including IT companies) are moving to the cloud.
Reports suggest that this change by these companies will increase by almost 40% in the next three years. It is estimated that 2/3 of spending on application software will be through cloud computing alone, by the end of 2025.
The data indicates that the need for such services will further increase in the near future, and therefore SONM may find a good place for itself.
Why is SNM already rising?
As we can already see (via the charts attached above) the price of SNM has experienced a surge. Its price was $0.17 at the time of its launch and has now grown by 81%.
Not only that, the price has reached its all-time high of $2.23 (just a few days ago). The point worth noting here is that the price has been very consistent since last week; He saw a surge and then the price started to drop again.
So why was it suddenly rising? It is speculated that the surge may be an indication of a pump and dump because the price started falling soon after the rise. This is because the SNM coin was not very active among traders and could therefore be an easy target for pump and dump activities.
On the other hand, we certainly cannot deny the use cases of the SONM platform. Furthermore, SNM is listed on five exchanges, and Binance is one of them. Its listing on Binance is another reason that can make it popular with traders.
SNM Price Prediction: 2023, 2025 and 2030
Although price forecasts are never accurate to the penny, proper research and analysis can predict a great deal about price movement.
SNM’s all-time high price is $2.23, which it hit three days ago and is currently down over 140% from its all-time high.
Keep in mind that the past movements of any token can predict a lot about its future trend. So, let’s find out your price forecast for the next few years based on the analysis of your price movements and other factors:
SNM Price Prediction 2023
According to the price forecast, in 2023 the price of SNM is expected to exceed an average price level of $2.29 and the expected minimum price value of SNM by the end of the current year should be $2.21. It can reach a maximum price level of $2.73.
SNM Price Prediction 2025
According to the price forecast, in 2025 the price of SNM is expected to exceed an average price level of $5.12. The expected minimum price value of SNM by the end of the current year is expected to be $4.95. It can reach a maximum price level of $5.82.
SNM Price Prediction 2030
According to the price forecast, in
2030 SNM price is expected to exceed an average price level of $32.5, SNM minimum expected price value by the end of the current year should be $31.6. It can reach a maximum price level of $37.6.
SNM Price Predictions: About SONM
SONM (Supercomputer Organized by Network Mining) is a fog computing platform based on decentralization. In other words, SONM aims to be a supercomputer that can be used for any task like scientific calculations, video rendering, game server hosting, web hosting, etc.
This network uses traditional fog computing systems and enhances them with the use of blockchain. For example, people with additional power and computational resources can rent their resources to the SONM marketplace and generate income. On the other hand, people who need computing power can rent those resources by paying for them.
The notable point is that the automated mechanisms of Ethereum Smart Contracts 7 enforce terms between the provider and the customer (unlike traditional cases).