Pocket Network Price

Projects like Pocket Network could see considerable interest as Web3 adoption rises in the crypto industry. This could make the POKT crypto a good digital asset to invest in and hold.

As more dApp developers utilize Pocket Network’s decentralized infrastructure to relay their data, the demand for the POKT cryptocurrency could rise. This, in turn, could drive up the POKT to USD price and make it a valuable crypto asset in the market.

As Pocket Network supports more blockchain networks in the future, we could see a considerable increase in the use of its infrastructure. This could further boost the Pocket Network price and make POKT more attractive to hold.

Although it is impossible to offer an accurate POKT price prediction, several factors drive price action in the Pocket Network crypto. Here are some of the critical drivers to monitor:

On-chain Activity

As Pocket Network adds support for more blockchain networks, more dApp developers use its technology to relay on-chain data, or more users sign up to operate validator nodes on the network, the demand for the POKT crypto could increase. Such moves could contribute to bullish price action in the Pocket Network price.

Mainstream Adoption of Web3

As Web 3.0 goes mainstream and more dApps with real-world and commercial applications launch, there will be a greater need for efficient infrastructure like Pocket Network. Its decentralized infrastructure will make Web3 more decentralized, scalable, and capable.

Market Sentiment

Market sentiment is one of the most important drivers of price action in cryptocurrencies. A bullish mood or risk-on sentiment could drive more buying activity in the crypto market, supporting the price of Pocket Network. However, a bearish or risk-off mood could cause more sell-offs in the market, driving the POKT price lower.

$POKT is the native utility token of Pocket Network and has several applications, including:

Native Currency

Applications and Service Nodes stake POKT on the Pocket Network to access or provide work on the protocol. Applications stake POKT to receive an allocation of the network’s throughput. Service Nodes stake POKT tokens to receive work on the network and earn incentives for their efforts.

Pay Transaction Fees

POKT is also used to pay transaction fees when leader-elected nodes use the Pocket blockchain for peer-to-peer transfer of payments. This mechanism prevents spam and dust attacks against the Pocket Network. 99% of the transaction fee is burned, while 1% is offered as a reward to the leader-elected node that validates and records transactions in the next block.

Crypto Asset to Trade and HODL

You can trade Pocket Network against other cryptocurrencies to profit from changing market conditions and volatility. Buy or sell POKT against other digital assets or hold it long-term if you believe in the future potential of the Pocket Network protocol. Review the live Pocket Network price, POKT live market cap, circulating supply, 24-hour trading volume, and the latest crypto news before trading POKT in the market.

Pocket Network aims to make Web3 more decentralized and accessible for all. Other companies that can be considered this protocol’s competitors include Chainnodes, Chainstack, NodeReal, Ankr, and Velas. Other possible competitors of Pocket Network include Infura, QuikNode.io, NOWNodes.io, The Graph, and Alchemy.

There are three ways to stake $POKT on Pocket Network - run your own node, pay someone else to run your node, or join a staking pool. The first option requires you to have the technical know-how and at least 15,000 tokens to stake; the second option needs a minimum of 15,000 POKT to stake but no technical skills, while the third option requires no minimum staking limit nor technical skills.

Here’s how you can stake POKT by joining a staking pool:

1. Set up an account on Pocket Wallet - the official Pocket Network wallet. Fund your wallet with $POKT tokens by buying the token on an exchange like KuCoin or other supported platforms and transferring them to your wallet.

2. Check out available staking pools within the Pocket Network community at this link: https://forum.pokt.network/t/overview-of-pooling-services/2437.

3. Select a staking pool after reviewing all options and finding the most convenient and safe option. Click on the link of the staking pool and connect your wallet to its interface.

4. Click on Stake and enter the number of POKT tokens you wish to stake. Review the lock-in period and rewards on offer and confirm your transaction through your wallet. Sit back, earn rewards, and watch your POKT holdings grow by staking Pocket Network.