EWT Price Prediction as Energy Web Token Jumps

The EWT price jumped sharply on Friday as demand for the coin increased. The Energy Web Token hit a high of $4.56, the highest level since May this year. It is up more than 85% from the low this year, giving it a market capitalization of over $170 million.

What is an Energy Web Token?

The world is facing an urgent need to solve the current climate crisis. This is happening in particular through vast investments in electric vehicles and the general shift to clean energy,

Energy Web is an organization looking to make an impact in the sector. It builds operating systems for energy networks with the aim of propelling the zero-carbon economy.

Over the past few years, the company has deployed its operating systems for energy networks to more than 100 energy players. For example, in Australia, it operates Energy Demand and Generation Exchange (EDGE). The product helps the company deploy Distributed Energy Resources (DER).

Energy Web has also developed EW Zero, an open source tool for purchasing renewable energy and eliminating carbon. In addition, he built an e-mobility dashboard for Elia Group that allows the exchange of data from EVs, charging stations and network operators.

In total, Energy Web has more than 50 projects in 25 countries. Some of the major companies using its solution are Protocol Labs, Google, Volkswagen, and Filecoin.

EWT is the native token of the Energy Web platform. It is used by ecosystem participants to provide utility. EWT price jumped sharply after the company was mentioned by Blackrock, the world’s largest asset manager with over $10 trillion in assets. The company said:

“BlackRock is encouraged that organizations such as RMI and Energy Web are developing programs to bring greater transparency to sustainable energy use in bitcoin mining, and will monitor progress around these initiatives. “

EWT Price Prediction

The four-hour chart shows that EWT price has found strong support at $2.13 this year. He has struggled to drop below the level several times this week. The coin managed to move above the 25- and 50-day moving averages while the MACD moved slightly above the neutral point.

Therefore, the Energy Web Token will likely resume its downward trend as the Blackrock hype wears off. If that happens, the next key support to watch will be at $2.70, which was the July 21 high.