Lack of utility could be hindering long-term growth for Web 3.0 platform’s native token
What is PARSIQ (PRQ)?
PARSIQ is in the business of developing back-end products and application programming interfaces (APIs) for the Web 3.0 space. Initially launched in 2020 by chief executive officer Tom Tirman, digital forensics engineer Andre Kalinowski, and blockchain architect Anatoly Ressin, PARSIQ is divided into two segments: PARSIQ Core and PARSIQ Network.
PARSIQ Network represents the new suite of products being rolled out in 2022 and beyond. Pending releases include:
Tsunami API: Aims to provide Web 3.0 developers with tools to track real-time and historical data, enabling them to track metrics such as total value locked (TVL), liquidity, current and historical token prices, user balances and more
Data Hubs: A custom-tailored, protocol-specific decentralised finance (DeFi) data-tracking program
Data Lakes: A data-analysis and statistics protocol
PARSIQ also plans to implement decentralised governance – Source: parsiq.net
PRQ is PARSIQ’s ERC20 cryptocurrency. PRQ can be staked and held as a store of value. The token’s utility will increase if and when the PARSIQ decentralised autonomous organisation (DAO) comes to fruition. For the time being, what is PARSIQ (PRQ)’s projected value in the months and years ahead? Let’s find out.
In a substantial boost to PARSIQ, the PRQ token secured a listing on top-tier crypto exchange Coinbase on 22 June 2022. In an announcement, Tirman, said “The PARSIQ team is always pressing forward, improving our tech and offerings. We’re very proud to announce that the $PRQ token is now listed on Coinbase, one of the premier exchanges worldwide. With our new flagship products being launched this year, this listing is only further evidence of the success PARSIQ will achieve.”
Coinbase’s initial trading pairs are PRQ/USD and PRQ/USDT
PRQ initially dropped in September 2019 through a $1.5m initial exchange offering (IEO) via Coinmetro. Despite an intended distribution of 250 million tokens, only 98.3 million were sold. Typically, unsold tokens in an IEO are burned in order to benefit early adopters. However, PARSIQ stated that the remaining tokens “were sent to a retention wallet, instead of being burned since there is regulatory uncertainty in that area. If regulations become clear on the matter, all tokens held in the retention wallet will be burned”. The nature of this regulatory uncertainty is unclear, since token burning is a widespread, uncontroversial practice.
PRQ’s exchange value as of 22 June 13:50 BST (UTC +1) was $0.15. Market capitalisation was $24.6m, while the 24-hour trading volume of $4.56m amounted to 18.4% of market cap. There are currently 164,750,031 tokens in circulation out of a supply cap of 500 million.
Having opened the year at $0.41, PRQ shed 63.4% of its value by 22 June. The token’s bear position was interrupted by a run between 14 March and 20 April which added 42% of value to the cryptocurrency. A reversal then followed.
PRQ is 94.23% below the all-time high (ATH) of $2.61 observed on 12 April 2021. The cryptocurrency is supported by numerous centralised exchanges, including Gate.io, Huobi, KuCoin, Coinmetro and morst recently, Coinbase.
PARSIQ price prediction
The PARSIQ token price prediction for 2022 at TechNewsLeader is $0.16, climbing to $0.48 in 2025. By 2030, the token could hit the $3.18 price point.
Starting from a bearish 2022 target of $0.12, PricePrediction’s PARSIQ price prediction for 2025 heads up to $0.35. The forecaster’s PRQ coin price target for 2030 is $2.13.
DigitalCoinPrice’s target is currently set at $0.19 for 2022 and $0.28 for 2025. PRQ coin could head upwards to a PARSIQ price prediction for 2030 of $0.67, according to the forecaster.
WalletInvestor expects the PARSIQ price to kick the bucket, dropping to $0.008 by December 2022 and remain at this price point come December 2025.
On average, PRQ is expected to lose 20.6% of its value by the end of 2022. By 2025, the token could generate a 186% return for today’s investors. That figure rises considerably to 1,328% in 2030.
Please keep in mind that the above price targets are speculative and should not be used as a basis for financial investment. Crypto assets are highly volatile. Currency.com recommends a robust due diligence check on any project that you are considering making an investment in.
What is PARSIQ?
Launched in 2020 by CEO Tom Tirman, digital forensics engineer Andre Kalinowski, and blockchain architect Anatoly Ressin, PARSIQ develops back-end tools for developers in the Web 3.0 space.
How high can PRQ coin go?
The highest 2030 PARSIQ price prediction is given by TechNewsLeader at $3.18. Achieving this target could generate 2,120% worth of returns for today’s buyers. However, this PRQ coin price target is speculative and investors could just as easily lose money. Always do your own research before placing an investment.
How many PRQ coins are there?
There are 164,750,031 PRQ in circulation against a supply cap of 500 million tokens.
Is PARSIQ a good investment?
Online price targets are bearish in the short term, although long-term predictions are much more optimistic. Please note that any information provided in this article is for informational purposes only. None of the price predictions provided in this article should be used as a sole basis for a financial investment.