A project appeared on Binance yesterday, with an increase of nearly 40% from a low of 0.7 to 0.96. It is SFP, a wallet token with a current market value of 445 million US dollars and a ranking of 182+. Let’s take a look at it today.
What is SFP
SafePal is a cryptocurrency wallet launched in 2018 that aims to help users protect and grow their digital assets. SafePal offers both hardware and software wallets, all of which are paired and managed through the SafePal App. It is the first hardware wallet invested and supported by Binance.
SafePal wallet supports many popular crypto assets, in addition to popular tokens on Ethereum, Binance Smart Chain (BSC) and TRON blockchains. According to SafePal, users can store, manage, exchange, trade and grow their portfolios without compromising the security of their assets.
Since its launch in 2018, SafePal has grown exponentially, with over 3 million users in 196 countries around the world.
SafePal supports 20 blockchains, including Binance Chain and Binance Smart Chain (BSC), more than 10,000 tokens, and NFT assets.
SFP Price History
While we should never use past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a SafePal price prediction.
When SafePal first entered the public markets in early 2021, cryptocurrencies were at the beginning of a boom period. On February 9, 2021, it was valued at $4.39. This price is still an all-time high for SFP, but it was almost overvalued and the coin fell. In the following months, the price of Bitcoin saw peaks and troughs, trading above $3 in March and below $1 in June. It rose back above $2 in October and November, but ended the year at $1.48.
2022 has been a disastrous year for cryptocurrencies, and SafePal has suffered like the rest of the market. It was trading at $1 in April. Following the Terra (LUNA) blockchain crash in May, its price fell to an all-time low of $0.2674 on June 14, 2022. Any hopes of recovery were dashed when the FTX (FTT) exchange declared bankruptcy in November and SFP shut down the exchange. The year-to-date price is $0.3948. This represents a yearly loss of more than 70%
Price Prediction
SafePal Price Prediction 2025
Looking ahead, Bitnation says SFP will hit $1.92 in two years. PricePrediction is more cautious, saying it will trade at $1.04 that year. DigitalCoinPrice’s SafePal price prediction says it will hit $1.83 in 2025.
SafePal Price Prediction 2030
Considering a longer-term SafePal price prediction, PricePrediction.net says the coin will be worth $6.89 by 2030. DigitalCoinPrice says the coin will reach $5.54 that year. Bitnation’s SFP price prediction puts it at $4.66 at the beginning of the next decade.
What is the future of SFP?
From the perspective of technology and ecosystem, SafePal is still a new project that has just started. Although it has risen rapidly in a short period of time, it will take more time to observe its long-term performance. As a trend-oriented digital currency wallet project, SafePal has great potential for future value prospects.
Judging from the current project planning and implementation, the SafePal team adheres to the concept of safety, trustworthiness, convenience and ease of use, and is committed to providing safe and reliable digital currency management solutions to global users.
From the perspective of application scenarios, SafePal is expected to become a strong supporter in the field of decentralized finance. SafePal plans to establish a complete DeFi ecological chain, perfectly combining multiple functions such as SafePal wallet, purchase, exchange, storage, etc., to promote the emergence of more innovative models.
From the perspective of market prospects, the development prospects of digital currency are broad. In recent years, more and more people have begun to pay attention to digital currency, and the emergence of SafePal will help more people understand and get in touch with digital currency. Therefore, from the perspective of the general trend of the cryptocurrency market, SafePal's future value prospects are very broad.
Is SFP worth investing in?
It’s hard to say. While recent upgrades and partnerships have seen the token surge, it’s still a long way from its 2021 heights. Not only that, but since the Klaytn wallet is limited edition, it’s entirely possible that the SFP price could drop again soon.
As with cryptocurrencies, you need to make sure you do your own research before deciding whether to invest in SFP.
No one can really tell right now whether SFP will continue to rise or fall. While the SafePal cryptocurrency price prediction is largely positive, price predictions have a reputation for being wrong. Also remember that prices can and do fall as well as rise.
Before deciding whether to invest in SafePal, it is imperative that you do your own research, not only on SFP but also other related coins and tokens such as Trust Wallet (TWT). Either way, you also need to make sure that you never invest more money than you can afford to lose.
Summarize
This is a product in the wallet series. Because it fills in many gaps in the Binance exchange, it was acquired by Binance. It is also an APP that combines wallets and transactions. When Binance was cleared out of China, it could make up for the use of Binance by Chinese people in the country, so it can be regarded as a kind of insurance for Binance. Wallets are also an indispensable part of currency players. In terms of wallet experience, it should also be a good product. As for its ghostwriter, it is at least the leader in the wallet field. Although there is still a little fox wallet that has not issued coins, the little fox will definitely issue coins, because many tool applications have been developed and released, such as arkm.
