Very active for a few days, the very young Clover project and its CLV token are shaking up the blockchain world. Together, we will seek to detail the main features and applications of this new kind of protocol. A protocol that fits above all as a tool intended to facilitate the links between the different blockchains.
If the project is still very young, it is clear that the potential is very present.
CLV: Towards a Single Crypto Wallet?
The Clover project, carried by the CLV token, intends to solve wallet problems in the cryptocurrency field. How? 'Or' What ? By offering cross-chain solutions and a sort of unique portfolio for players in the world of DeFi (decentralized finance).
Above all, the project brings an interesting bridge between the Ethereum and Polkadot blockchains. The Clover addresses on Ethereum and those on Polkadot are thus linked by a unique two-way peg bridge technology. Clover looks extremely promising for DeFi project developers. For example, developers of Ethereum projects can easily migrate their contracts to Polkadot.
In summary, the Clover project could be defined as a blockchain technology at the service of blockchains. The project would therefore be classified in the category of “tool projects” of the cryptosphere.
Zoom on the CLV token
The decline on the token is still quite low. Indeed, CLV has only been available on the markets for 1 week. The following chart shows the full price of the asset since it was put on the market on July 16.
On July 17, the day after the launch, CLV reached its all-time high (ATH) with a token that was then exchanging for € 1.81. It was during its launch day that the token hit its all-time low of 0.36 EUR.
In terms of market cap, the Clover project is anchored in the top 250 most important projects. For a total capitalization of over $ 123 million. Currently, more than 128 million CLV tokens are in circulation for a protocol that will have a maximum of 1 billion.
What to expect from this Project?
As with the price analysis, it is difficult to establish reliable forecasts for the price of this asset. Especially since the different models largely use past prices to try to predict future prices. Here, the sample is still too much room for improvement.
However, if we stick to these predictive models, the potential already seems obvious. According to the algorithmic models of TradingBeasts, a CLV could already flirt with the $ 2 mark by the end of 2021. In an estimated price range of $ 1.70 to $ 2.50. On the side of DigitalCoinPrice, the trend also seems rather positive. The platform estimates that the price of the asset could exceed 1.60 USD by the end of the year 2021. In the longer term, the rise could continue and the token could exceed 2 dollars by 2023. These predictions, especially the long-term ones, are still extremely fragile given the lack of perspective on the project.
Nevertheless, despite the youth of the project, a number of elements already seem positive. Clover has a large number of partners in particular. These partnerships with known and recognized blockchain players such as Polychain Capital, Hypersphère or Divergence reassure the seriousness of the project and its longer-term solidity. Among the strategic partners and users of the solution, players such as Polygon, Unilend or The Graph also plead for the seriousness of the project.