What is a hook? No, we’re not talking about Captain Hook. The hook or hooked protocol is an altcoin. An altcoin is a digital currency. It refers to any coin that is an alternative to Bitcoin. But Hook has another important aspect. It is a learn-to-earn cryptocurrency.
What is a learn-to-earn cryptocurrency? We've heard of earn-to-play tokens.
One of the first platforms to combine learning and cryptocurrencies with GameFi technology is The Hooked Protocol (Hook). It uses games to educate novice and seasoned cryptocurrency investors about the Web3 world.
HOOK, the company's native token, was only introduced on December 1st, 2022, but it has already gained significant attention after experiencing a jump of more than 40% on its second day of operation.
We will go over all the information you require concerning Hook in this article.
Hooked Protocol (HOOK) Overview
*We collected these data at the time of writing.
What is Hook - A Learn-to-Earn Cryptocurrency
What is Hook? HOOK, also known as the Hooked Protocol, is an on-ramp layer enabling widespread Web 3.0 adoption. The application aimed to let anyone participate, acquire, and profit from a share of cryptocurrency through a gamified experience. Additionally, the platform offers a variety of learning and earning tools to cryptocurrency investors through gamified learning. Playing games will assist students in entering and adjusting to the Web3 world.
Web3 refers to the third generation of Internet technologies. Although the phrase is still rather new, numerous blockchain-related initiatives have been working toward Web3 due to its advantages, which include returning control to consumers. To wide-scale Web3 acceptance, meanwhile, there is still a long way to go.
The three main obstacles to Web3 adoption that Hooked Protocol seeks to overcome are - a lack of user motivation, high entry hurdles, and insufficient Web3 education.
To address these issues and encourage more people to begin their Web3 journey, Hooked takes an instructional approach. The protocol intends to support the mass adoption of Web3 through gamified learning scenarios and incentive schemes.
Hooked is developing a collection of user-facing products with token rewards for onboarding new users at the same time. Wild Cash is its most well-known game. It is the all-in-one Learn-to-Earn dApp (decentralized application.) It pays users in GOLD tokens for taking part in “delicately crafted quiz tasks.”
Wild Cash is the first and only Web3 application to ever dominate a Google Play rating, claims the Hooked Protocol website. In the three months following its inception, it reached more than 2.5 million monthly active users, over 50,000 new users, and 90% user involvement. In 2022's third quarter, the dApp was introduced.
The system uses two types of tokens:
- HOOK: the governance token that captures the ecosystem's worth in the Hooked protocol.
- Hooked Gold Token (HGT): A utility token that can only be used within the ecosystem, providing incentives for the neighborhood.
In addition to governance, HOOK is used to fund on-chain activities' gas costs and to provide staking incentives as holding rewards. Additionally, community members may access exclusive events by possessing HOOK tokens.
Additionally, community members that possess HOOK tokens can enter exclusive events and purchase constrained editions of in-platform non-fungible tokens (NFTs).
According to the whitepaper for the currency, “HOOK will be invested in innovative practices that ultimately benefit the ecosystem of both individual participants and enterprises, ensuring considerable liquidity and token value will grow in direct proportion to the success of the entire community.”
How Hooked Protocol Works
The goal of Hooked Protocol is to enable people to adopt web3. It employs a dynamic decentralized social network and an incentive-based educational system with gamified learning features to carry out its purpose. It is organized as follows:
To promote web3 learning, The Hooked Protocol has established a cutting-edge educational approach that is both immersive and inquisitive. Through its games and tutorials, The Hooked Academy enables consumers to quickly interact with crypto ideas like non-fungible tokens (NFTs) and GameFi.
Sometimes, the learning curve can be too lengthy for new users. The learning site also uses community-formed, entertaining decentralized autonomous organizations (DAOs) to shorten the curve. It also improves the overall learning experience.
Classic web3 Mechanics
Rewards are a basic yet powerful technique to promote adoption. Wild Cash, a Learn and Earn dApp from Hooked Protocol, includes the following features:
Quiz-to-Earn - New users can learn about web3 fundamentals while taking quizzes and earning tokens for doing so.
Proof of Work and Time (PoWT) Mining Game - Encourages users to invest their time and effort by using the well-known Mine to Earn proof of work (PoW) mechanism.
Social Referral - Users receive compensation for introducing others to their web3 social network.
Stake and Swap - Users can practice ideas like staking, trading, and transferring crypto tokens with the Hooked Wallet.
Web3 Onboarding Solutions
To provide a seamless transfer into web3, Hooked offers a variety of onboarding solutions as a gateway to web3. New users receive an individual, one-of-a-kind digital identity through the platform's Hooked Soulbound Token (Hooked SBT). Members also have access to the Hooked Wallet. It offers a simple user interface for navigating and orienting themselves with web3 transactions.
How to Use Hooked Protocol Tokens
We already know that the two tokens HOOK and HGT make up the token structure of the hooked Protocol. The platform's main token is HOOK, which is supported by the internal utility token HGT.
The reason behind the dual-token structure is to improve liquidity, boost usefulness, and guarantee the Hooked ecosystem's long-term viability.
HOOK is a deflationary coin. It has a 500 million token fixed supply. The HOOK token serves the following purposes:
Governance: When voting on proposals for changing an ecosystem, governance represents a person's stakes and votes.
Gas: To support on-chain transactions and power all dApp economic activity.
Access: Using the token, community members will have access to special NFTs and events.
The utility token HGT, on the other hand, is distributed following the volume of jobs completed. It only has an infinite supply and is only used in the Hooked environment.
- Let customers practice for tests in the Quiz-to-Earn training facility.
- Reward participants in the Quiz-to-Earn boot camp
- Motivate individuals to participate in the social referral program
- and encourage the game experience on the platform
Hooked Protocol - A Bullish Start in a Bear Market
HOOK launched on CoinMarketCap on 1 December 2022 and within a day had gained over 40%, up from $2.0626 to $2.9016, it's all-time high. In general, HOOK has had a pretty bullish start, a significantly positive aspect in an overall bear market.
The bull run in the coin’s price, however, did not last long. It lost over 20% of its gains on 2 December 2022, dropping to around $2.30. Because the platform warned investors on Twitter that all HOOK tokens for sale on PancakeSwap were fake.
By the following day, the cryptocurrency managed to regain some of its losses, rising 13.8% to $2.617, but soon fell back down to $2.15.
Between 3 and 4 December 2022, HOOK fluctuated between $2.10 and $2.30 before surging twice, first by 15.8% to $2.4904 from $2.15 and then by an additional 1% to $2.517, possibly hiked by the platform’s whitelist giveaway.
Since surging to $2.517 on 4 December 2022, HOOK’s value has been dipping, down by 9.8% to $2.27 as of 7 December 2022.
According to data published on CoinMarketCap, as of 7 December 2022 the total number of HOOK coins in circulation is capped at 500 million. The cryptocurrency does not have a maximum supply, meaning that an unlimited amount of tokens can be mined. HOOK’s circulating supply stands at 50 million.
What is Hook - Technical Analysis For Better Understanding
Traders employ a multitude of methods, to predict where the Hooked Protocol market is most likely to go next. Indicators and chart patterns are two general categories. In addition to trying to anticipate the price of the Hooked Protocol, traders also look for significant support and resistance levels, which might indicate when an uptrend or decline is likely to halt.
Moving averages are indicators that are regularly utilized in all financial sectors. Price movement over a given period is slowed down using a moving average (MA). Moving averages depend on previous price movements because they are a lagging indicator. The table below displays the data.
Daily Simple Moving Average (SMA)
Daily Exponential Moving Average (EMA)
An oscillator is a technical analysis tool. It creates high and low bands between two extreme values before constructing a trend indicator. The indicator, oscillating within these bounds, identifies short-term overbought or oversold positions.
Key Price Level
Based on the current $2.36 traditional pivot point (P1), Hooked Protocol has support levels of $2.23 and $2.07, with $1.930099 serving as the strongest level. The resistance levels for the Hooked Protocol are also at $2.52, $2.66, and $2.82.
Hooked Protocol Correlation
When two currencies move in the same direction, they are statistically more likely to move in the same direction than when they are negatively connected. When two currencies are negatively linked, a move in one direction for Hooked Protocol would cause the negatively connected coin to move oppositely.
The prices of Chiliz (CHZ), KuCoin Token (KCS), GALA (GALA), BitTorrent (BTT), and Ethereum were most favorably connected with the price of Hooked Protocol over the last seven days (ETH). The prices of BinaryX (BNX), Fei USD (FEI), Hedera Hashgraph (HBAR), Chain (XCN), and Astar were most inversely connected with the price of Hook (ASTR).
With a score of 0.870, Hooked Protocol's price has a positive correlation with the top 10 coins by market cap, excluding Tether (USDT). With a value of 0.678, it also has a positive connection with the top 100 coins by the market cap when stablecoins are excluded.
Positively Correlated Currencies
Negatively Correlated Currencies
Hooked Protocol Price Prediction
We've covered the majority of the critical information regarding the Hooked Protocol you need to know before thinking about its price estimate. This is the moment to pay closer attention if you are truly interested in buying the coin. Keep in mind that these are only predictions. We all know how unstable the crypto world is. So, prices are constantly subject to change from forecasts.
We used various computer-based algorithms to examine a variety of technical indicators, including the relative strength index (RSI), moving average (MA), moving average convergence divergence (MACD), Bollinger bands (BB), and average true range (ATR), to establish our HOOK coin price forecasts.
Price Prediction for Hooked Protocol in 2023
According to our HOOK coin price prediction, the maximum price for the coin in 2023 will be $5.73, with an average price of $5.35. In the worst situation, Hooked Protocol expires in 2023 at 4.96.
Price Prediction 2025 For The Hook
Hook Protocol could achieve a maximum price of $9.44 with an average price of $9.06 in 2025 if the crypto market's capital continues to rise. In the event of a bear market, $8.68 is anticipated to be the lowest price.
Hooked Protocol Price Prediction 2030
Our HOOK cryptocurrency price forecast anticipates that in 2030, the price of HOOK will reach a new all-time high of $22.02, and the average price might be $21.64. This year will be remembered for Hooked Protocol. In the worst-case scenario, Hooked Protocol expires in 2030 at $21.25.
How to Buy Hook Crypto - Step-by-Step Guide
There are many variables to consider while purchasing cryptocurrencies, including the protocol and location. Finding Hooked Protocol is difficult since it's quite new to the market.
Step 1: To find out where and with which currencies you can purchase Hooked Protocol, visit CoinMarketCap.
CoinMarketCap offers a list of purchasing alternatives for each cryptocurrency. Do a Hooked Protocol search on CoinMarketCap. Near the price chart, click on the "Market" button. You may see a complete list of stores where you can buy Hooked Protocol in this view, along with the currencies you can use to do so. The acronym for the Hooked Protocol, HOOK, as well as a second currency, may be found under "Pairs."
You can purchase Hooked Protocol using the second currency. Look for HOOK/USD if you want to buy HOOK using dollars from the United States.
Step 2: Decide on a platform to buy from
Different platforms offer different levels of security, dependability, and liquidity. Do your homework before opening an account.
Step 3: Purchase on the platform of your choice
Every platform operates uniquely. Some platforms are simple to use, but others are not.
Buying a cryptocurrency with a fiat currency will be simpler than doing it with another cryptocurrency.
Create a crypto wallet that supports Hooked Protocol first if you must buy Hooked Protocol with a different cryptocurrency. Once you have purchased the initial coin, you can use it to purchase Hooked Protocol.
Most platforms include guides if you become perplexed. If not, a vibrant community of cryptocurrency enthusiasts likely has written guidelines on YouTube, Twitter, and other places.
- What is the Hooked Protocol price today?
At the time of writing this article, HOOK coin is trading at $2.59 with a live market cap of $129,201,352.
- Is Hooked crypto a good investment?
Our technical analysis indicates that Hooked Protocol may have been a decent purchase up to this point based on the direction it is moving. Additionally, it has solid fundamentals and a large investor base.
- How high can HOOK coin go?
Our price forecast for HOOK indicates that its highest price will be $5.73 in 2023, $9.44 in 2025, and $22.02 in 2030.
- How much will Hooked Protocol be worth in 2025?
More investors joining the project will increase the price of the Hooked Protocol. Our Hooked price forecast is that in 2025, the cryptocurrency will be valued at approximately $9.06 on average.
- How is Hooked Protocol correlated to other assets?
Hooked Protocol is most positively correlated with Chiliz (CHZ), KuCoin Token (KCS), GALA (GALA), BitTorrent (BTT) and Ethereum (ETH). It is most negatively correlated with BinaryX (BNX), Fei USD (FEI), Hedera Hashgraph (HBAR), Chain (XCN) and Astar (ASTR).
- What will the price of Hooked Protocol be next week?
According to our Hooked Protocol forecast, the Hook’s price will increase by 27.47% over the next week. The possibility of reaching $3.32 by February 21, 2023, is pretty high.
- Should I invest in Hooked Protocol?
Depending on your situation and level of risk tolerance, you should decide whether to invest in HOOK. The riskiest investments are cryptocurrencies. Before investing, you should conduct your own research and assess the level of risk you are willing to take. Furthermore, never trade or invest money that you cannot afford to lose.
Overall, Hooked Protocol's strategy has been successful in increasing web3 and cryptocurrency acceptance through gamified learning. The platform wants to expand its SocialFi system, offer more diversified products to the cryptocurrency community in 2023, and use all available resources to create an ecosystem that can support itself.
We are impressed by its aggressive worldwide expansion strategy and focus on developing an enhanced content-learning platform. We can easily predict that Hooked Protocol is poised to make a name for itself in the vast web3 community.
HOOK predictions can be inaccurate, so you shouldn't rely on them in place of your analysis. Always do your own research, taking into account fundamental and technical breakdowns, a variety of commentary, and the most recent news. Remember that past performance does not guarantee future performance. Additionally, never trade money that you can't afford to lose.