If you are keeping tabs on the latest developments in the cryptocurrency world, you might have heard about the ETHLend platform; a decentralized loan platform that uses cryptocurrencies as collateral. If so, you probably know about the platform's LEND token and are wondering if it's a good long-term investment. Read on for a LEND coin price prediction that might help you decide.
What is Decentralized Finance?
Once Bitcoin appeared in 2009 it managed to pave the way for many other cryptocurrencies, with more being created almost every day. While most people have probably heard of Bitcoin, many have only a vague understanding of just what cryptocurrencies are. It turns out cryptocurrencies are just part of the larger concept of Decentralized Finance (aka Defi); a money exchange system that cuts out middlemen in favor of direct transactions between peers.
Direct, peer-to-peer transactions mean a lot more than just sending money or paying for goods or services. One of the most promising Defi applications is lending money.
If you've ever tried, or even considered getting a loan from a bank, you already know it's a long, difficult process with tons of paperwork and seemingly eternal waiting. You also have to show the bank what seems to be insane amounts of collateral. The late Bob Hope put it brilliantly: “A Bank is a place that will lend you money if you can prove that you don't need it”.
Defi cuts the banks out of the equation. Decentralized money lending platforms connect people who need to borrow money with people willing to lend it. Loan terms are agreed upon and stored in smart contracts with crypto tokens as collateral.
This is how ETHlend came to be.
What is ETHLend?
In a nutshell, ETHlend is a decentralized lending platform, running on the Ethereum blockchain, where users can borrow funds using cryptocurrencies as collateral.
Suppose you have an idea for a startup business and need the money to make your vision come true. You have some crypto tokens to your name, but you don't want to sell them because you believe their value will be much higher in the near future. So, instead of selling them, you head on over to ETHlend and borrow the money from another user, using your tokens as collateral. If you pay off your loan, you will still have your tokens.
What is the LEND coin?
The LEND token is an integral part of the ETHlend platform. It is an ERC20-compatible crypto token, which means you can use Ether wallet software like metamask or Trust wallet. Using LEND within the ETHlend platform gives you some advantages, such as reduced fees, airdrops and access to special platform options and features.
The ETHlend ICO happened between November 25th – 30th 2017 with a price of 1 ETH to 25,000 LEND. In other words, 1 LEND was worth about 0.01727 USD. Since then, ETHlend news has been coming regularly. As of writing this article, the platform has generated over 1,200 loans with a total volume of almost 186,000 USD. ETHlend's future certainly looks promising.
Now that you're familiar with what the ETHlend platform is and some of the features of the LEND token, it's time to get on with what you're probably here for… the LEND coin price prediction.
LEND coin price prediction
Of course, unless you happen to know a certain two-hearted person from Gallifrey who runs around in a blue box, no one can make an absolutely certain ETHlend price prediction. No one knows for certain what the price of Bitcoin, Ether, EOS or any other cryptocurrency will be tomorrow, let alone one or five years from now. We could say the same for the price of oil, gold or any other asset.
As of writing this article, the price for 1 LEND coin is 0.012 USD and has risen by about 38% in the last week, with a market cap of just over 13.5 million USD. That's all good to know… but what's going to happen in the future?
As I said before, no one knows for sure. But some experts and cryptoanalysis services have been known to make a LEND coin price prediction or two. And we can look at what they're saying. Here are the top six sites that are trying to predict the future of LEND coin:
Coinswitch's LEND coin price prediction:
Coinswitch is a website that collects information about cryptocurrencies from many different places. They predict a price of 0.14 USD for 2021 and 0.37 USD for 2023. This would mean a 1,167% increase in two years and a four-year increase of over 3,000%. According to them, buying LEND tokens is a good long-term investment.
Wallet Investor's LEND coin price prediction:
Wallet Investor uses technical analysis software to predict cryptocurrency prices. They predict that, while LEND price might go up a little in the short term, it will eventually go down… way down! They predict a price of 0.00193 in one year, and that the coin would lose over 84% of its value. They also consider it very likely that LEND will eventually crash. This certainly makes it look like LEND is a bad long-term investment. But in all honesty, Wallet Investor's predictions are just as dire for almost all cryptocurrencies, including Ether, Litecoin and Ripple.
Cryptoground's LEND coin price prediction:
Cryptoground also used software to make technical analyses of crypto price histories to predict what will happen in the future. Their neural network forecasts that 1 LEND will be worth 0.015 USD in one year (up by about 24%) and 0.263 USD in five years, which means an increase of over 2,000%. They are also saying LEND is a good long-term investment.
Digitalcoin's LEND coin price prediction:
Digitalcoin's predictions aren't updated in real-time as some of the other predictions on this list. The prediction for LEND, in particular, is over a year old. But it does bring some interesting information. At the time of writing that article, the LEND price was 0.0049 USD. Their forecast was a price of 0.006 for October 2019, but the actual price right now is 0.012 and that, price according to their prediction, wouldn't happen until 2024. So LEND's price is actually going up a lot faster than Digitalcoin expected it would.
Coinpredictor's LEND coin price prediction:
Coinpredictor's forecasts don't go too far into the future, so we only get a three-month prediction from them, and it's not a good one. They estimate that in three months the price for LEND will be 0.0017 USD, which means an 86% drop.
Tradingbeast's LEND coin price prediction:
Tradingbeast also predicts a good future for investing in LEND coin. They say the price should be around 0.0024 USD by the end of 2020 and 0.0033 USD by December 2022. That means a 163% increase in price within two years.
As you can see, there are different opinions on what the future of the LEND token will be. Some experts believe it is a bad long-term investment, and will eventually crash completely. However, most analysts predict that LEND coin price will increase significantly with five-year earnings between 300 and 3,000%.
Of course, the LEND token isn't just another cryptocurrency. It is central to the ETHlend platform. As such, the coin's eventual success is tied to the platform's adoption by users. And while the concept of decentralized, peer-to-peer loans backed by crypto tokens and stored in smart contracts is appealing, ETHlend is not the only decentralized lending platform out there.
So the LEND token has a lot of potentials, but if it's going to skyrocket the ETHlend platform has to really catch on. But mass adoption of ETHlend probably isn't just around the corner. Fair access to loans for everybody, without the hassle of applying to a bank, is certainly a good thing. But it might be just a bit ahead of its time. The truth is most people don't really get what the whole cryptocurrency buzz is all about. Even some people who do understand cryptocurrencies don't fully believe in their future or trust them. This isn't the best scenario for a fledgling money-lending platform that uses only crypto tokens as collateral.
On the other hand, many experts agree that cryptocurrencies are here for the long run and will have a major influence on the way we do business. They also predict that cryptocurrencies will soon start taking away power from big banks. To me, that sounds like a good thing.
LEND coin is an interesting token with a lot of potentials. Its future value is tied to the success of the ETHlend platform. Despite all obstacles, I believe the time is ripe for a decentralized money-lending system to start taking power away from greedy banking corporations. I believe ETHlend will catch on. Maybe even faster than some analysts have predicted. LEND coin is likely to increase in price by 300-500% in the next two or three years and that sure sounds like a good return on your investment.