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SelfKey (KEY) price prediction after the recent jump


invezz.com 21 October 2021 18:12, UTC
Reading time: ~3 m

SelfKey KEY/USD has advanced from $0.007 to $0.016 since the beginning of October 2021, and the current price stands at $0.013. SelfKey empowers its clients to take back ownership of their identity, and there are already many projects on the SelfKey blockchain.

Blockchain identity system

SelfKey is a blockchain identity system that allows identity owners to truly own, control and manage their digital identity.

SelfKey empowers its clients to take back ownership of their identity data, and it is important to say that the SelfKey Foundation has the Regulatory Sandbox License (RSL) issued by the Board of Investment of Mauritius.

Regulatory Sandbox License allows SelfKey to develop identity products with a greater level of regulatory certainty, and SelfKey can never steal or lose your identity data. The SelfKey wallet is non-custodial, and if SelfKey’s servers are hacked, your data remain safe.

Identity management solutions are usually very expensive, but the SelfKey Identity Wallet is completely free, and it also allows you to open a business abroad through the Incorporations Marketplace.

SelfKey also allows its users to utilize a variety of other services, such as: registering for loans platforms, offshore banking, registering for secondary citizenship or residencies, and more.

The blockchain identity management market is expected to grow to $2 billion by 2023, at an annual growth rate of 84.5%, and SelfKey blockchain will probably be one of the major players. The SelfKey team added:

Unfortunately, most people do not understand the gravity of the problem until it personally affects them through identity theft or other malicious activity. Unsurprisingly, however, the rate of identity-related crime is exploding, and a recent study claims that there is a new victim of identity theft every 2 seconds in the United States alone.

The SelfKey team is spread across 20 countries, while the main partners of this project include notaries, translators, notable law firms, banks, accounting firms, and government officials. KEY is a token that powers the SelfKey ecosystem, and it has a total supply of 6 billion tokens.

KEY has exploded since the beginning of October 2021, and if you decide to buy this cryptocurrency at the current price, you should use a “stop-loss” order because the risk remains high.

Bulls in control of KEY

KEY is advancing this trading week, and the price of this cryptocurrency has advanced above 0.015 resistance on Wednesday, which was the first time since June 2021.


Data source: tradingview.com

KEY is currently trading below its recent highs, but if the price jumps again above $0.015 resistance, it would be a signal to trade KEY. The next price target could be around $0.018 or even above; still, if the price falls below $0.010 support, it would be a strong “sell” signal.

Summary

With a mission to process identity transactions using blockchain technology, SelfKey aims to create a safer world where our personal data and privacy are protected. KEY has exploded since the beginning of October 2021, and if the price jumps again above $0.015 resistance, the next price target could be around $0.018 or even above.


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