Launched in 2021, SuperFarm is one of the latest additions to the market of non-fungible tokens. With the popularity of NFTs rising in recent years, SuperFarm may have great potential as a project. SuperFarm is defined as a decentralized blockchain platform for increasing the overall accessibility of NFTs through cross-chain decentralized finance and NFT farming.

Anyone can create their own NFT and start NFT farming on the SuperFarm platform. SUPER is the native token of the platform and it supports the SuperFarm ecosystem. Users don’t have to be familiar with programming and coding as SuperFarm offers a simplified way of participating and contributing to the NFT market.

What determines the value of SuperFarm and which factors may cause the price of SUPER to rise or dip?

If you’ve ever wondered this, then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of the intricacies of SuperFarm price – and the factors that influence it.

SuperFarm Price History

The [guidelink super] platform has only been around for a brief time since it launched in March 2021 and the SUPER token has only been on the market since February. Even though SUPER hasn’t been trading in the crypto market for very long, it is still prone to high volatility and other factors that may influence the value of SuperFarm in the market.

SUPER was launched through an initial decentralized exchange offering towards the end of February 2021 and began trading at about $1.60. After dipping below $1 at the start of March, prices began to rally around the middle of the month and surged to a peak of $3.70. After that, the price dipped below $2 before gaining enough momentum to reach an all-time high. SUPER hit its ATH at the end of March at the price of $4.81.

In April, the SUPER price dipped to $2.09 then bounced back up to $3.71. A similar pattern occurred later that month as SUPER dipped below $1.50. The price rebounded to $3 at the start of May. However, by the last week of May, SUPER dipped to an all-time low price at $0.35.

Prices only rebounded a little after the low and consolidated around that level, so by mid-June, SUPER was trading at about $0.60.

Analyzing SuperFarm Price History

SuperFarm price history can be analyzed with the same techniques that are used to analyze assets in more traditional financial markets, such as the stock market. One of the main techniques in technical analysis. TA is often used in combination with sentiment and fundamental analysis to create a price forecast based on the past momentum.

TA examines price charts and other relevant market data to try and make sense of the previous momentum. It uses this data to help traders and investors come up with an estimate for the future price of SuperFarm and other cryptocurrencies. For instance, TA observes the period when SuperFarm reached an all-time high price, looking for signs of when that might happen again. The same goes for tracing lows.

Fundamental analysis studies important elements to determine the fundamental value of SuperFarm and other assets. Fundamental analysis considers elements like upgrades, technical capacity, updates and developments, technology, the activity of the dev team, the company behind the project, partnerships, mainstream use, relevancy, and other important events to be crucial points for determining the future value of SUPER. For instance, the use case of SuperFarm and its technology might have led to a strong starting price for SUPER at its inception.

Sentiment analysis weighs opinion data and collects it from relevant sources. Sentiment can be ranked as neutral, positive, or negative based on the emotion that a certain event or piece of news may elicit among market participants. A good example would be the launch of the SuperFarm platform at the end of March 2021, which might have caused the price of SUPER to rise to its ATH that day.

Factors Influencing the Price of SuperFarm (SUPER)

A multitude of factors can cause the price of SuperFarm to change, one of them being its supply. SuperFarm has a limited total supply, which acts as an anti-inflation mechanism and means that SUPER may provide a solid store of value in the long term.

SUPER can also be influenced by the wider economy and conditions within it, as was the case in the first quarter of 2021 when the majority of cryptocurrencies experienced huge rebounds and many cryptos managed to reach their ATH prices. SuperFarm reached an ATH in March 2021, shortly after its inception and during a period of collective gains. Another example would be the collective losses from April to June 2021, which also brought an ATL for SUPER in May.

The utility of SuperFarm might have given SUPER price a headstart when it traded above the price of $1 at its inception. SuperFarm is still a rather young project and could yet be influenced by upgrades, updates, and other important events in the future.

SuperFarm offers an easy and accessible way of interacting with NFTs, which have become increasingly popular over recent years. The project enables users to earn additional revenue based on farming and trading NFTs.

Live SuperFarm Value and Market Cap

SuperFarm value is subject to frequent changes due to the volatility of the crypto market, which means that the value of SUPER can radically change from one moment to the next. The market cap changes with the changing SUPER value, which is in constant flux. Aside from volatility, the live price of SUPER changes with the effects of multiple specific factors that define its market value. The live price is dictated by the balance between the buying and selling activity.

The market cap equals the number of SUPER coins in circulation multiplied by the current price of SuperFarm in the market. The market cap ranks SuperFarm in comparison with its crypto peers and determines its market share.

SuperFarm Price FAQ

Will SuperFarm reach $1 again?

SUPER is a volatile asset like the rest of the cryptocurrency market, which means that SUPER could reach the value of $1 soon, or take more time for a rebound in relation to active trends in the market.

Is SuperFarm a good investment?

SuperFarm taps into the potential of the market of non-fungible tokens, and as such could make a good investment for investors who believe in the potential and profitability of the NFT market. As the market of NFTs becomes more popular, the price of SUPER could rise as a result.

Conclusion

SuperFarm taps into the potential of the NFT market, which is one of the rising trends in the sector of crypto and blockchain. As a rather new project, SuperFarm is yet to establish itself as a prominent platform for creation, distribution, trading, and farming of NFTs. Network participants can make extra revenue by trading and issuing their own NFTs, and as the platform develops and grows, SUPER could become a more valuable digital asset as the centerpiece of the SuperFarm ecosystem.

As conditions in the market continue to change, SUPER price changes as well to match trend reversals and collective dips and rebounds.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of SuperFarm and cryptocurrencies!