Disclaimer: The information provided here does not constitute any form of financial advice. Readers are fully responsible for conducting their due diligence before making any investment decisions.
What is Utrust (UTK)?
Utrust is a cryptocurrency payment processor built to simplify digital currency transactions for e-commerce businesses. In doing so, the platform offers the best of both worlds in traditional payment and blockchain-based systems, allowing merchants to utilize the benefits of crypto fully.
Utrust’s partners are presently companies in the automotive, crypto mining, educational, fashion, gaming, health & beauty, hospitality, jewelry, entertainment, NFT, real estate, retail, tech, travel, and professional services industries.
This service was established in 2017 by Nuno Correia, Artur Ferreira, and Filipe Castro. The Portugal-based payment gateway provider was recently acquired by Elrond, a much more established blockchain, in January 2022.
UTK, an ERC-20 or Ethereum-based token, is primarily used to settle for goods and services on the platform. Let’s explore the investment case for this project and the Utrust price predictions for the foreseeable future.
Is Utrust a good investment?
Ultimately, Utrust does provide some compelling use cases. Despite UTK being presently ranked #346 on CoinMarketCap (with a market cap of about $68 million), it’s an altcoin with some potential for a few reasons.
Currently, it’s challenging for online dealers to directly accept crypto transactions because of the industry-specific knowledge needed to onboard such currencies, along with the legal, volatility, and operational risks.
The volatility of crypto is well-documented. As a business, if you ordinarily accepted BTC, you could experience a loss in value when trying to convert it to a fiat currency like USD (not to mention the likelihood of crashes). Utrust simplifies the process for businesses while making payments safer, faster, and cheaper.
Utrust provides instant conversion, which retains the price of a particular coin from the point of sale to when a transaction is ultimately finalized. What about the benefits for buyers? One of the major advantages is safety.
Any purchase made to a Utrust-partnered merchant comes with buyer protection, as you’d find from the likes of PayPal and Skrill. Utrust essentially acts as a mediator handling any potential disputes and finding resolutions between buyers and sellers to ensure the successful delivery of the product/service.
The final point in our argument is that UTK is a deflationary token as it has a fixed supply of 500 million, with roughly 94% or 470 million presently in circulation.
Should I buy UTK today: Crypto technical analysis for UTK
We’ll look at two charts in this regard. The bigger time frame (daily) shows UKT in a clear bearish trend which is consistent with the overall decline of the crypto markets. We’ve applied the 50-day (orange) and 200-day (blue) moving averages for our technical analysis.
We are looking at a classic crossover strategy with these indicators. Evidently, the price is below the moving averages, and the 50 is below the 200. Despite this, the 1HR chart shows some hope for bullishness as it meets the criteria, which could be an early sign for higher prices.
If the price reaches the $0.30 region, the daily chart would likely present a buying opportunity.
Will the UTK coin price hit $1 in a year?
The numerous Utrust price prediction estimates we analyzed collectively suggest UTK’s value won’t be worth $1 in a year. Many of the projections from sites like PricePrediction.net, Tech News Leader, and Digitalcoinprice average around 22 cents.
On the high end, Gov Capital approximates prices between $0.33 and $0.47 for Utrust.
What is UTK’s price prediction for 2025?
Despite showing some promise, it’s wise to also account for the worst-case scenario for Utrust.
Similar to the 2023 estimates, we observed that most forecasting sites predict UTK will be more valuable by 2025. The average we derived this time was 33 cents, with the most optimistic projections coming from Gov.Capital at the minimum and maximum values of $0.83 and $1.12, respectively. By 2025, it’s realistic for UTK to reach these levels.
Ultimately, investors shouldn’t rely on Utrust price predictions as they cannot fully account for any uncertainty. Despite existing for several years now, UTK is still a mid-capped token, which are some of the most volatile altcoins on the markets.
Therefore, a number of factors (most notably competition) could lead to a lack of adoption, thereby decreasing UTK’s price over time. Moreover, if the overall crypto sentiment is negative, this can affect Utrust’s value as well.