Root Network Soars 34.31% in 7 Days: Future Outlook and Predictions

The Root Network is a layer 1 blockchain that aims to be the hub for the open metaverse. The main focus of the blockchain centers around its interoperability and user experience. It makes use of a dual-token system, in which the XRP serves as the default gas token, and the governance, staking, and other major functions are managed by the ROOT token. 

The network supports a wide range of decentralized apps, digital collectibles, and numerous AI contents creating a smooth interconnected experience across the metaverse. Just like numerous coins in the market, the ROOT coin also shot up in the market in the last few days. In this article, we will discuss the coin’s current market status and the factor behind the sudden hiking of the coin as well as about its future.

ROOT Token Current Market Standing

With the US Presidential Election concluded with Trump being victorious, the future of the crypto coins is looking brighter than ever. The price of numerous tokens jumped following this news. The ROOT is one such coin. The coin is currently trading at $0.02138 with a growth rate of 6.29% in the last 24 hours. This is a huge relief for ROOT holders as the coin has been on a bearish trend in the market ever since its listing.

7 days prior, on 31 the coin was trading at $0.01557. With a weekly growth rate of 35.47%, the price of the coin has almost doubled in the week following the election. Now that Trump has been elected, and he is an open supporter of crypto coins, especially Bitcoin, we can expect a further drive in the coin’s price in the coming days.

Key Factor Behind The Root Network Rally

With the election in favor of Trump, the price of many coins shot up in the market. The ROOT token, the utility token of The Root Network is one such coin. The coin’s price jumped from $0.02006 to $0.02109 in the last 24 hours. With a daily growth rate of 4.81%, the coin is gradually catching up to its successors in the market.

It is not just the coin, but the market value of exchanges as a whole has also increased in times of the election. Now that Trump has been elected, there is a chance that he will introduce new reforms favoring crypto trading in the US. But now that the dust surrounding the election has been settled, many coins have bounced back a little. But, ROOT is not like many coins and is still bull-running in the market.

The Root Coin Price Prediction: What to Expect In The Coming Years

In the above section, we looked into the ROOT coin’s current market standing and the major factors that influenced the coin’s price in recent days. Now, let’s delve into the future of the coin. For this, we have prepared a detailed price prediction table for the coin.

Keep in mind that the above-given prices are susceptible to changes in market trends and can vary accordingly.

Is The Root Token a Good Buy?

Now that we know how the coin is faring, let’s take a look at one of the most asked questions about the Root token: Is it a good investment or not? As Trump took charge, the demand and price of various crypto coins underwent a huge surge in the market. This is because of the words told by Trump during his campaign about his stance on Bitcoin and cryptocurrencies as a whole.

The ROOT token is one such coin that shot up right after the election. The coin has showcased an impressive rally in the market. But how long this rally will last, we can’t say for sure. This is mainly because the coin has been on a bearish trend in the market since its listing and the hype of the election may not last that long in the market. So, if you’re interested in investing in the coin, it is better to conduct thorough research on the various trends in the market before proceeding.

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