Harmony with trading ticker ONE is a project that’s been popping up on the radar of many savvy investors. In our opinion, it’s a project that you should be considering.
At its core, the Harmony project is one of many projects focused on solving the blockchain scalability issues plus creating a fast and open network of nodes operated and governed by a large community.
Harmony has also created an ecosystem for the end-to-end transfer of cryptocurrencies by integrating existing networks, making it possible for users to exchange their fiat currency into crypto and vice versa.
In this Harmony project review, we’ll be sharing compelling reasons why we think you may want to consider adding this altcoin to your crypto portfolio.
We’ll also be looking at all the exciting partnerships that Harmony [One] has been striking and round up with a technical view at the price charts and future price projections.
Future of Harmony [ONE] Token
Ongoing Development on the Harmony Github, major partnerships/collaborations, progress made so far.
Harmony – Travala.com partnership
First is the Harmony – Travala.com partnership, which looks to integrate the ONE token as a form of payment on the Traval.com travel crypto-friendly travel platform.
Harmony – UTU Protocol partnership for setting up a trust infrastructure
The partnership is to set up AI-based oracles to maintain users’ creditworthiness. According to the news, UTUs’ credit scoring oracles will get integrated into DeFi lending Apps built on Harmony.
The Harmony Chain also integrated Certic-security oracles to empower a secured DeFi ecosystem, allowing Certic to provide real-time security insights for Harmony users and developers.
Harmony-BEN (Blockchain Education Network) Partnership
The partnership with the BEN is to enhance new-generation blockchain developers’ knowledge and offer them new opportunities.
Harmony-Binance (BUSD) launched on the Harmony Network
With the launch of BUSD on the Harmony network, ONE is enabling cross-border Finance on Harmony.
Harmony-Animoca Brands NFT Market Place launch
In addition to the marketplace launch, Animo and Harmony acquired Quid, a Sequoia-funded digital collectible startup.
Harmony-Gitcoin Collaborate on Web3
Harmony integrates into the Gitcoin platform to assist developers in creating new projects.
Harmony-Band Protocol Integration
The Harmony-Band integration is aimed at developing secure and scalable decentralized applications.
Harmony-Ankr Partnership
In partnership with Ankr, the duo will be developing DApps on the distributed cloud using artificial intelligence and IoT technology.
Harmony-Chainlink integration
The integration with Chainlink shows that Chainlinks’ decentralized oracles will be launched on Harmony.
Harmony-Samsung Wallet LYMPO as a Scaling Partner
LYMPO, the Ethereum DApp, has ported to Harmony due to scalability issues. Its Harmony-based blockchain tokens are also available on the Samsung blockchain wallet.
Harmony Roadmap: Q4 2020 and Q1-Q4 2021 Road Map
Harmony’s founder Stephen Tse highlighted Harmony’s main themes as a blockchain for cross-chain Finance as Adoption, Interoperability, and Decentralization.
To scale Ethereum applications, developers on Harmony deploy Ethereum tools like Ether.js and Solidity. Also, by using METAMASK to store tokens, users can use the Harmony Bridge to swap Ethereum assets and Harmony.
- Adoption: Harmony provides tools for Ethereum developers to migrate code with minimum modifications. 75% completion.
- Workshops: Harmony will be launching developer workshops at Fintech and blockchain events for continuous learning. 12% completion.
- Hackathons: Harmony will launch hackathons in 2021 for quick feedback from developers and an opportunity to win prizes.25% completion.
- Grants: Harmony will be looking into grants for new projects or partnerships to grow with incubation. 37% completion
Interoperability
- Ethereum Bridge: Harmony is currently working on its Ethereum bridge that’ll allow Harmony applications to swap assets with Ethereum. 75% completion.
- Bitcoin Bridge: The Harmony-Bitcoin bridge will allow BTC holders to earn from using finance products on the Harmony network. 12% completion.
- Cross-Shard: Allows application on Harmony to contain inter-shard transactions. 12% Completion.
- Cross-Chain: It allows communication between Harmony as a hub and any chain. 12% Completion.
Decentralization
- Voting Power: It allows external validators to own upgrades and governance. 37% Completion.
- Resharding: Harmony implements resharding as a way to boost network security and prevent single-shard attacks. 25% Completion
- Services: Such services include community-owned dashboards, API, monitors, and wallets. 12% Completion
- Fast Sync: Harmony allows fast sync for network performance and enabling resharding. 37% Completion
In summary
Q4 2020
Harmony focused on Cross-chain Uniswap/Whitepaper and 2-Second Finality.
Harmony also worked on the COINBASE Rosetta integration and Gitcoin Hackathon.
Q1 2021
The harmony team is currently working on the Ethereum Endpoints: Web3.js, MetaMask, and Wallets.
Furthermore, Harmony is working on Trustless Bridge with Light Client and Fast state Sync.
Q2 2021
Decentralized Voting Power, VDF Resharding
Bitcoin Bridges, Native BTC-ERC20 Asset swaps.
Q3-Q4 2021
Cross-Shard Contracts, Cross-chain Infrastructure.
Onchain Governance, and On-Chain Order Books.
Competition analysis with Similar Projects
Competition analysis with similar projects highlight the most valued competitor and the probability of surpassing it.
- Harmony [ONE] vs Fantom [FTM]
The most valued competitor to the Harmony network as an enterprise solution and DeFi platform is the Fantom Network.
Fantom [FTM] is trading at 0.43549 at press time, is currently ranked as the number sixty-seventh (67) coin by market Cap ahead of Harmony’s One Token at a hundred and fourteen (114) position by market Cap and trading at 0.03758 at press time.
Although the Harmony [ONE] token currently takes the lead in market Cap, Harmony ONE’s involvement in the now hot NFT market space may increase its market cap by the end of Q2 2021.
ONE Token 2021 Price Prediction and Projections
ONE Monthly Chart Analysis
The uptrend started after the RSI exited the oversold zone on May ’20 and entered the overbought area on July ’20.
We can scale into the uptrend by following the dollar-cost averaging starting from the trend confirmation date.
A break of the 0.00610 and second entry of the overbought area allows for further scaling into the bullish campaign.
ONE/BTC Monthly chart
The ONE Token paired against Bitcoin BTC shows an influx of investment money into the low-cap crypto asset.
The pair is currently making a second attempt to set a bullish swing after the August ’20 move was cut short by entering the oversold area on November ’20.
Harmony [ONE] price prediction 2021
Considering the 01 June ’19 and 01 March ’20 bearish swing, the ONE projects a 4.236 Fibonacci projection at 0.1266. With that said,
We expect the ONE token price to soar beyond the $0.1266 price level by the end of Q4 2021.
Is ONE token a Good Investment for future?
- Market Cap projections (10x, 100x etc. ) and demand/supply scenario
Here are some closing thoughts into why the Harmony project and the ONE Token are worth investing in.
Starting with the Harmony team made up of experienced professionals within the crypto-related field.
The team has unique ideas, dealing with future innovations like cloud computing, IoT solutions, and cross-chain Finance to ease international money transfers.
Based on our analysis, the ONE Token price is projected to attain 5X to 10X by the end of Q4 2021.
Also read: Pancakeswap (CAKE) Price Prediction – What Will Be The Price Of CAKE In 2021?
