Tribe Price Prediction | Is Tribe a Good Investment?

TRIBE is a decentralised autonomous organisation that manages the FEI, Rari Capital and Turbo protocols – Photo: JLStock/Shutterstock

Tribe (TRIBE) emerged last year when the Fei protocol acquired the lending platform Rari Capital. Despite being a relatively new addition to the market, the organisation is already debating shutting down.

This comes after news that Rari Capital was hacked in April, with funds worth $80m stolen in the attack.

Tribe’s current dissolution proposal has, oddly, led to a rally in its price. However, forecasters, including TechNewsLeader and WalletInvestor are conflicted over the token’s future.

What is Tribe?

Tribe is a decentralised autonomous organisation (DAO) that manages three different projects and controls the future of their ecosystems. The organisation launched last year at the same time as the Fei protocol merged with Rari Capital.

Fei is an algorithmic stablecoin ecosystem that is attempting to escape the lack of liquidity associated with the industry. It uses the price of ethereum (ETH) to motivate users to buy or sell FEI when it escapes its $1 price target.

Meanwhile, Rari Capital is bringing a permissionless financial infrastructure to the crypto industry with its borrowing and lending protocol. By lending crypto assets to borrowers, investors are rewarded with yield.

The organisation’s website said:

“Rari Capital empowers individuals to break free by creating new opportunities, communities and financial products.”

The final protocol involved in the Tribe ecosystem is the Turbo liquidity accelerator. A Fei blog post explained: “Tribe Turbo enables DAOs (and degens) to issue FEI, at no cost, into a Fuse pool(s) of their choice, while benefiting from a revenue split with the Tribe DAO.”

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The governance token 

TRIBE is the governance token that controls this DAO. Holders of the cryptocurrency can have influence over its protocols. 

For example, the Fei whitepaper revealed, the organisation can adjust allocations of FEI bonding curves and the incentivisation rate. 

TRIBE has also become tied to the FEI cryptocurrency. FEI holders are able to stake the stablecoin in the Uniswap (UNI) pool and earn a percentage of the TRIBE distribution. However, this process will scale back over the next two years and eventually close down.

TRIBE’s past performance

TRIBE price chart

Source: CoinMarketCap

TRIBE launched on 3 April and surged to its all-time high of $2.49 the following day. However, it plunged afterwards and has not come close to this price since. 

It did see a slight peak in May as it doubled the TRIBE rewards available in the FEI Uniswap pool. Investors who managed to get in early and trade between 3 May and 24 May were eligible for more than three times the reward rate.

After peaking at $1.80 on 5 May, the token continued the downward trajectory that characterised TRIBE for most of the year. 

The token started rallying again in November as holders took part in a vote for the Fei protocol to partner with Tokemak. This would see ETH and TRIBE funds worth  $50m kickstarting its liquidity as a reactor on Tokemak. The proposal passed and the token peaked at $1.35 on 11 November.

The token went through a similar rally on 13 January as it made a major announcement that all TRIBE liquidity would be moved to Fuse, a product from Rari Capital.

The Fuse product proved to be the downfall of Tribe and Fei. A hack in April resulted in funds worth more than $80m being stolen across multiple pools.

Even more controversy is surrounding the Tribe project as, on 19 August, a vote was put to its community to dissolve the DAO. This proposal, if passed, would grant hack victims a partial repayment of only $16m. 

The Defiant, a cryptocurrency publication, said:

“Critics say the Fei protocol has the money to fully reimburse everyone that lost money in the April 30 hack. Instead, skeptics claim that the team has proposed a partial redemption for hack victims while retaining much of the project’s remaining capital for themselves.”

Despite TRIBE crashing throughout this year, investors appear to be oblivious to this fact. As of 26 August, it is trading at $0.23 and is up 57% on the past week.

Tribe price prediction

At the time of writing, some TRIBE price predictions expected the coin to maintain this rally throughout the coming years, while others were much more pessimistic.

WalletInvestor gave a bearish tribe price prediction for 2022 as of 26 August, suggesting it could fall to $0.01 in a year. The forecaster did not expect TRIBE to recover and suggested it would fluctuate around this level for the next five years

TechNewsLeader suggested the coin could reach a high of $0.48 in a year and $1.49 in five years’ time. Its tribe price prediction for 2030 at the time of writing gave a maximum price of $6.96.

Meanwhile, PricePrediction said TRIBE could average at $0.19 in 2022, yet its long-term forecast was more bullish. Its tribe price prediction for 2025 as of 26 August said the coin could climb past $0.50 and achieve $1.17 in 2027. By the beginning of the next decade, the tribe coin price prediction estimated a maximum price of $4.26. 

The tribe crypto price prediction from AMB Crypto projected the cryptocurrency to pass $1 in 2025. The site suggested the coin may achieve $4.07 in 2030 and $8.35 in 2033.

When considering a TRIBE token price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any trading decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.​​

FAQs

Is tribe a good investment?

Tribe is a decentralised autonomous organisation that manages the FEI, Rari Capital and Turbo protocols. However, it is important to note that the community is currently voting on whether to dissolve the DAO.

In volatile cryptocurrency markets, it is vital to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the TRIBE token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Will tribe go up or down?

As of 26 August, some forecasters, such as TechNewsLeader, have suggested TRIBE could continue its current rally. But WalletInvestor was bearish over the token’s future.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether tribe is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Should I invest in tribe?

Tribe has seen its value plummet throughout 2022, along with the wider bear market. But the token is currently rallying as voters are debating a proposal to shut down the organisation.

Whether you should invest in TRIBE is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.

Further reading:

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This news is republished from another source. You can check the original article here

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