After Harmony launched the Bored Ape Yacht Club NFT passport, should you buy the ONE token?

Harmony ONE/USD is a blockchain-based platform specifically developed as a means of solving the issues of scalability as well as decentralization found in competing blockchain networks.

The ONE token is the native cryptocurrency token that is used as a stake within the Harmony consensus models, where the holders of the token can earn block rewards and be rewarded for keeping the system running.

The launch of the Bored Ape Yacht Club NFT passport as a catalyst for growth

On October 25, 2021, we covered if it was too late to invest in Harmony (ONE) after it managed to reach its all-time high value at the time.

The blockchain platform Harmony made an announcement that they would launch what is known as the Bored Ape Yacht Club passport. 

Harmony one claims to have two-second transaction finality and fees which are 1,000 times lower than those of Ethereum.

This passport is aimed at enabling users to import proof of their apes within DeFi Kingdoms, which is a play-to-earn (P2E) game that is built on top of the Harmony blockchain and features 120,000 monthly active users.

Through an official Twitter post by DeFi Kingdoms, users were introduced to the process.

Throughout the initial stages, Ape holders are able to validate as well as display their assets in the game across multiple blockchains at the point in time when they connect their MetaMask wallet to DeFi Kingdoms.

Should you buy Harmony (ONE)?

On February 21, 2022, Harmony (ONE) had a value of $0.158432.

In order for us to see what kind of value point this indicates for the Harmony (ONE) token, we will be going over it’s all-time high value, alongside the performance the token showcased throughout the previous month.

The all-time high value of Harmony (ONE) was on October 26, 2021, when the token reached a value of $0.379020. This means that at its ATH, the ONE token was $0.220588 higher in value or by 139%.

Looking at the performance of the token throughout the previous month, Harmony (ONE) had its highest point of value on January 14, 2022, when the token reached a value of $0.3749.

The token’s lowest point of value was on January 28, when it saw a decrease in value of $0.1715. Here, we can see that the token decreased in value by $0.2034 or by 54%.

With all of this in mind, the Harmony (ONE) token has the potential to reach a value of $0.2 by the end of April 2022, making it a worthwhile purchase at $0.158432.

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