This particular field of investing has expanded with the development of new tokens, and one such addition to the digital universe is that of Bitboard (BB). This is a relatively new cryptocurrency that has recently entered the market, but which already presents quite a number of interesting features in addition to high growth potential.
As of now, Bitboard is selling at approximately $0.01993 per token, which gives the new generation cryptocurrency a humble and favorable beginning. The price has bullish trend in the period of last 24 hours as it has risen from $10.691 to $11.014 approximately a 3.21% rise thereby showing that traders are developing more interest and positive feeling about the currency. Despite its relative youth, Bitboard has established itself in the cryptocurrency rankings, with a market capitalization of $19,034 and the 9631st place among the thousands of existing digital tokens.
Another feature that can draw the interest of many people to Bitboard is the new, well-thought tokenomics. The circulating supply of the BB tokens is self-reported at 955,000 circulating BB tokens which is just 0.01% of the total supply. This limited circulation ensures that the physical books have scarcity value and most importantly the price of the physical books can increase over time. Total and max supply of Bitboard is a break out number of 8,100,000,000 BB which shows the initial circulation and which will not increase in future. The equality between total and maximum supply has been probably calculated to signal careful distribution planning designed to ensure sustainable equilibrium and avoid pump inflation.
The market capitalization is $161, 438, 667 for the Bitboard which has been arrived at based on the number of tokens available in the market. This helps the investors understand the future value of the project if all tokens were in circulation in giving Bitboard a longer outlook.
As is fitting of a relatively young service, Bitboard is yet to find itself disseminated across a plethora of industry outlets; nevertheless, it has achieved the status of a regular participant in several well-known cryptocurrency exchanges and monitoring services. This widespread listing make sure investors are able to obtain the current stock price and interaction privilege on line. The cryptocurrency value as fluctuates and it is constantly synchronised hence the values that are provided are accurate.
Comparatively, the current trading volume of Bitboard is displayed as $0 within 24 hours which puts it at the 9774 th position in terms of daily turnover. This absence of volume can be explained by several reasons ranging from a relatively short time since the token was released to inadequate publicity or more time is taken in the market by those who invested early to hold rather than trade. Experts believe that, as the project gets more popularity and awareness, the volume of trading will rise, thus having a positive effect on price formation and order depth.
The team behind Bitboard still has not provided any further information on what it has been developed for and what sort of technology it will be based on, let alone what may be its future prospect. Such high levels of anonymity are quite typical for newly created cryptos because teams are usually very secretive in the initial stages of the project. That being said, the time will undoubtedly come for the team to share more tangible information about Bitboard’s goals and use cases to keep the investors invested.
Like every new cryptocoin, those who intend to invest in it should do so very carefully and only after getting as much information as possible about it. Cryptocurrencies are famous for their high volatility and unpredictability, and an even higher chance of sharp spikes in their prices awaits newly issued tokens.
I would like to point out that the name “Bitboard” might be borrowed from the digital gaming or internet forums world. The “board” could refer to a community and communication platform, a content sharing site, or even a games platform built on blockchain technology. However, the above-mentioned possibilities cannot be deemed as true as they lack confirmation from the project team.
The current market conditions for Bitboard create an interesting playing field for both the shorter-term speculative traders along with long-term organic investors. The low price along with the limited available quantity might encourage some traders to pump the price with the goal to make fast money in the field of cryptocurrencies. However, the high total supply and the max supply mean that it might be an attempt to appeal to long-term holders who wouldn’t use the token immediately but would keep it for several years.
Looking at the future of cryptocurrency digital platform, it will be significant to consider certain parameters that include circulation volume, total market value, and price trend of Bitboard as it expands its foothold on the cryptocurrency market. These will give more information about the ratio at which the token is being used in the market and how people feel about the token.
With the growth and development of the cryptocurrency this year, it will be the next few months that will determine the future of Bitboard within this competitive market. The sense of belonging from the community participation, partnership, technological advancement, and the promotional strategies will be valuable features that will define the fate and sustainability of the project.
To sum, Bitboard can be considered as an interesting addition in the range of cryptocurrencies. Doing the rounds of the crypto community and owed to the well-thought-out token distribution model, optimistic future results in the markets, and much more, it has truly become quite popular. And as the project progresses throughout its development and more information is available over the longer term it will be equally interesting how Bitboard appropriately establishes itself in relation to the ever growing digital asset space and whether this is enough to realise the potential suggested by the poster boy status on the current market landscape.
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