Space ID (ID) is a blockchain‑based universal name and identity service token that lets users register, discover, and manage Web3 domains across multiple chains, aiming to simplify decentralized identity and address systems.
The ID token also plays a role in governance, domain registration fees, and ecosystem incentives, helping support community participation.
After reaching an all‑time high near $1.84 in March 2024, ID has since experienced significant declines of over 95%, trading around $0.057–$0.062 recently.
Short‑term price action is mixed to bearish, with downward pressure over recent weeks but occasional small rebounds driven by speculative flows and broader price swings in the crypto market.
Trading volume remains moderate for a mid‑cap altcoin, while developers continue enhancing cross‑chain features and name‑service utilities.
Long‑term prospects depend on adoption of Web3 identity solutions, integration with decentralized apps, and overall risk appetite in the crypto sector.
@SPACE ID $ID #Space #id