SNM is the native currency of the SONM platform that is mainly used as a payment method for computational resources. The maximum supply of SNM tokens is 444 million.
Note that SNM cannot be mined directly, i.e. you can first mine BTC or ETH and then exchange them for SNM. Another way to earn SNM is to rent your computational power on the SONM market.
Let’s briefly discuss three main SNM use cases:
- Users can purchase computational 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 has decreased by almost 7.8% over the past 24 hours.
Before predicting whether SNM should go up or down in the near future, let’s give an overview of its price history in recent months. Its performance in recent months can help us achieve the required context for the future. Let’s discuss:
SNM’s 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 peaked at $8.2 three days ago. Since then, the price has been falling again.
If we look at its 1-month chart, we can easily say 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 encryption is working quite well for a few days, we also analyze 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 perform multiple jobs including mathematical calculations, machine learning, large-scale deployment, web hosting etc.
SONM can easily use any hardware on the Supplier’s machine, such as memory, disks, CPU and GPU. In addition, users can select the desired amount of computing resources according to their needs.
Now, the crucial question here is: is there actually 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 rather than own their own resources. These services have grown a lot since then and offer a wide range of options, from storage to processing power.
Here, cloud computing has become an important part of various industries where users can simply move their workloads to the cloud. Several companies (including IT companies), instead of spending on infrastructure and application software, are moving to the cloud.
Reports suggest that this change by these companies will increase by almost 40% over the next three years. It is estimated that 2/3Rd spending on application software will be through cloud computing alone, by the end of 2025.
The data indicate that the need for such services will increase further in the near future, and therefore, SONM can find a good place for itself.
Why is SNM already going up?
As we can already see (through the charts attached above) the price of SNM has seen a sudden increase. 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 was very consistent from the last week; He saw a sudden rise and then the price started to fall again.
So why was it suddenly rising? There is speculation that the sudden increase may be an indication of a pump and landfill because the price started to fall soon after the increase. It is because the SNM coin was not very active among traders and, therefore, could be the easy target of pump and dump activities.
On the other hand, we certainly can’t deny the use cases of the SONM platform. Also, SNM is listed on five exchanges, and Binance is one of them. Its listing on Binance is another reason that can make it popular among traders.
SNM Price Prediction: 2023, 2025 and 2030
Although price forecasts are never accurate to the penny, proper research and analysis can predict a lot about price movement.
SNM’s all-time highest price is $2.23 which it reached three days ago and is currently down more than 140% from its all-time high.
Note that the past movements of any token can predict a lot about its future trend. So, let’s find out its price forecast for the next few years based on the analysis of its price movements and other factors:
SNM Price Prediction 2023
According to the price forecast, in 2023 the SNM price is expected to exceed an average price level of $ 2.29 and the value of the minimum expected price 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 SNM price is expected to exceed an average price level of $ 5.12. The value of the expected minimum price 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 the SNM price is expected to exceed an average price level of $ 32.5, the value of the expected minimum price of SNM 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 such as scientific calculations, video rendering, game server hosting, web hosting etc.
This network uses traditional fog computing systems and improves them with the use of blockchain. For example, people with extra power and computational resources can rent their resources to the SONM marketplace and generate revenue. On the other hand, people who need computational power can rent those resources by paying for them.
The notable point is that the automated mechanisms of Ethereum Smart Contracts 7 impose terms between the supplier and the customer (unlike traditional cases).