Among numerous blockchain projects aiming to bring massive adoption closer, Casper Network stands out for its convenient solutions for enterprises. Though experts agree on the project’s utility, its price chart is not so unambiguous. Find out what is happening with CSRP in our Casper price prediction.
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Casper Fundamental Analysis
Casper is a proof-of-stake open-source blockchain developed from the Casper CBC Specification instead of being another blockchain fork. The network is optimized for enterprise and developer adoption, can be used for general purposes, and additionally has the features for mass acceptance.
One of the main advantages of the network is that it’s developer-friendly - it doesn’t use proprietary language but works on WebAssembly. Thanks to that Casper is convenient and easy to use. Moreover, it brings a new concept of energy consumption as it’s 136 000% more efficient than Bitcoin. At the moment of publishing, there are over 30 million developers on the network.
Casper also offers a gas model that stabilizes the gas fees and thus the users get the possibility to predict the usage of the network even when the traffic is severe. Casper is also permissionless, but at the same time allows businesses to build both private and permissioned apps to get confidentiality from the private network and the security of a public blockchain.
Casper Labs provides services for entrepreneurs that want to build on Web3 and supports companies building on Casper Network. Casper has undergone multiple security audits including the inspection by Trail of Bits in January 2021 that didn’t find any high severity issues.
The project was founded by Mrinal Manohal, programmer and financial professional, and Medha Parlikar who worked with technology since the 80s. The project went live on Mainnet in March 2021.
CSPR token powers the network and also provides project governance. The coin is also used to pay the rewards for validators, to cover the transactions on the network, and as a measure of exchange for the network participants.
Casper Live Price Chart
Right after the launch on a mainnet CSPR token raised to $1.37 and hit its all-time high. But it couldn’t maintain the same value level for a long time and started to drop the next day.
The token was following a bearish trend along with the whole crypto market till the middle of July, falling to its all-time low of $0.05 on July 15. CSRP started to recover in the beginning of August and was bouncing between $0.17 and $0.08 till the end of October, though it was not affected by the general crypto uptrend and grew just 5% from $0.1 to $1.2.
The CSRP price chart took a new turn only in mid-November, first reaching $0.16 on November 15, going to the support level of $0.14, and then rising to $0.2 on November 30. Despite the recent surge, not many analysts think that the token will grow significantly in the nearby future.