The DeFi Kingdoms (JEWEL) crypto went on about a 700% bull run from around $ 4 in late 2021 to a peak of just over $ 20 – but will it go up in 2022?
JEWEL is currently green on the week as the broader crypto market is bouncing with Bitcoin potentially having just put in a higher low at around $ 40k. The JEWEL price is currently around $ 5 per coin with a marketcap over $ 300 million. It may have found a bottom at its 2022 lows of just under $ 4.
NFT coins will explode in 2022?
There has been a lot of bullish news surrounding non-fungible tokens and the metaverse in recent weeks. Gaming giant Sony just announced a $ 1 billion investment in Epic Games to help them shape the future of the metaverse.
Sony and Epic are of course both high profile names in video games and DeFi kingdoms is a P2E game – the most popular on the Harmony $ ONE blockchain – in which your player character is an NFT.
Seeing such household names in console and PC gaming taking an interest in crypto, NFTs and the metaverse should be bullish for all coins related to those sectors, of which JEWEL has already established itself as one of the leaders.
DeFi Kingdoms Jewel Price Prediction
One of the crypto Youtubers on our top 10 list, Jacob Crypto Bury, recently made a Jewel price prediction for 2022.
Firstly he reviews news posted to the official DeFi Kingdoms twitter @DefiKingdoms that NFT pets are coming soon. Any upgrades to the DeFi Kingdoms game can help pump the Jewel price, and that could be a popular addition.
Then he notes that according to DeFi Llama JEWEL has a TVL (total value locked) of $ 439 million and that has been increasing over time. A lot of users are also staking JEWEL – the more that’s staked, the less it’s possible for the token price to dump as coins are being held to farm rewards rather than being sold. That reduces the selling pressure.
Finally he goes into some technical analysis (TA) of the Jewel price, marking out support and resistance areas. He predicts JEWEL could break out to a new all-time high (ATH) soon as volume candles have been increasing in size on high time-frames.
Cryptoassets are a highly volatile unregulated investment product.