BounceBit (BB) is currently known as the first project on the Binance Megadrop platform. As the first project, there is still very little historical data to verify the attraction and influence of this platform on investors.
The following are reviews and predictions about BB's price when listed on Binance.
How much will BounceBit (BB) cost when listed on Binance?
BounceBit (BB) is a Layer 1 that uses the PoS consensus mechanism but differs from other Layer 1s in that participants will stake Bitcoin and BB tokens, which BounceBit calls Dual-token PoS. Participants who stake BTC into BounceBit will receive stBTC in return, and they can continue to restake that stBTC to receive liquid restaking tokens.
Therefore, BounceBit is mainly known and emphasized by users as a Bitcoin staking project to receive yield. Binance said that the maximum supply of BB is 2.1 billion USD, the initial supply on the exchange is 509 million BB. This data can help calculate the price of BB in the initial stage of listing.
In the field of Bitcoin Restaking, there is still no similar project listed on Binance to compare capitalization. In the immediate future, the OTC price of BounceBit (BB) on Bitget is currently at 1.7 USD, meaning that BB's initial capitalization is valued at about 690 million - 700 million USD. If compared to projects on Binance Lauchpool that are recently reaching an average capitalization of 400 million - 500 million USD, BB can be priced at 0.95 USD - 1.2 USD.
If compared to a recently noticed ETH Restaking project, Ether.fi, the capitalization is also around 400 million USD. Compared to Merlin Chain - the most prominent Layer 2 on Bitcoin at the present time , has attracted more than 2.5 billion TVL on Merlin's Seal – Merlin Chain's capitalization is currently quite low at only 150 million USD. If equivalent, then the BB price could be only about 0.35 USD.
So, to summarize, it is likely that BB will have a high price at around 1.7 USD when on the exchange, but it is likely that the price will gradually decrease under the selling pressure of the airdrop that users receive through the Megadrop platform. This decline could cause BB to fall below 1 USD or deeper.
