Price (USD)$ 9.05
Circulating SupplyMULTI 19.36329M
Volume (24h)$ 1.56013M
Market Cap$ 174.93424M
Low/High 24h$ 8.80 - $ 9.16
Change (24h)$ 0.033892
At the beginning of the blockchain era blockchains were envisioned as being able to provide an all purpose solution, meaning that all transactions, smart contracts, or anything else is performed on a single chain. However, this proves to be an inefficient mechanism as scalability limits and innovation issues are not taken into account. This is where cross-chain platforms come into play.
A cross-chain is the interoperability between two relatively independent blockchains. It allows two blockchains to interact with each other and enables an exchange of information, cryptocurrency or NFTs from one blockchain network to another.
The market offers plenty of cross-chain protocols, among them Chainlink, Cosmos, Finance Bridge, Polkadot and others. Multichain, another prominent cross-chain bridge, also falls into this category. This cross-chain router protocol provides solutions that allow nearly any blockchain to interact with other chains without restrictions - it positions itself as the ultimate router for Web3.0. Formerly known as Fantom Anyswap, Multichain enables the flow of data and assets across different blockchain networks.
Multichain was created on 20th July 2020. The Multichain bridge supports a variety of token types, way more than most cross-chain protocols can offer. Among them are over 35 tokens, including Arbitrum, Avalanche, BNB Chain, Bitcoin, Dogechain, Ethereum, Ethereum Classic, Fantom, Huobi, Litecoin, Metis, Ronin, Terra and XRP. With its speed and efficiency, Multichain offers a quick development process where the users can easily establish new blockchains and operate with a permissioned network. Multichain is currently leading in the cross-chain field, with daily volumes over $100 million.
According to the project’s official page, Multichain has a number of other features, including but not limited to:
The platform issued its own token, MULTI, that has been doing quite well considering the protocol’s all purpose features. At the moment its price fluctuates around $ 9.05, however, several months after it first appeared, the token climbed quite high - in January 2022 its price reached $32.62. How it will develop in the future is yet a question, especially during crypto winter when all tokens shed some of their value, but the popular crypto experts offer a few predictions.
TechNewsLeader believes the predicted average price of MULTI in 2025 will be around $22.99 to $23.65 depending on the market, while 2030 will surprise us with up to $151.67 per coin.
PricePrediction analysts offer the same optimistic scenario with MULTI going up to $33.11 at its peak in 2025 and reaching $232.19 in 2030.
The road map for Multichain includes technical evolution, cross-chain contract support for third party developers, developing joint research on MPC and trusted computation with top academic institutions. On the side of the ecosystem, Multichain creators are planning to launch a series of incentive programs to support emerging innovations, partnerships and Web3 communities, expand global Multichain communities, enrich the scenarios of token usage and enhance DAO governance and build global CRP (Cross-Chain Router Protocol) ecosystems.
As we can see, if Multichain continues to develop and grow, its price will possibly reach new highs.
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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.