BounceBit Point
(BB) has seen a significant surge in trading volume, up by over 660% on Whales Pro. This uptick in activity has led to price predictions for the token ranging from $0.3 to $0.5. BounceBit, the platform behind BB, aims to create a multi-asset restaking platform for various types of BTC, thereby expanding the utility of the Bitcoin ecosystem.
On Whales Pro, BB is currently priced at $0.0892, with a 24-hour trading volume of $9,200, marking a 666.7% increase. Trading prices fluctuate between $0.04 to $0.417, with the most common price being $0.04. The platform has recorded a total volume of $86,781.2, with an average bid price of $1 and an average ask price of $0.2572.
BB tokens serve various functions within the BounceBit ecosystem, including staking, rewarding network security verifiers, paying gas fees, governance, and acting as the primary currency on the platform. BounceBit was notably the first project on Binance Megadrop, an integrated token issuance platform that offers rewards to users before projects list on exchanges.
The maximum supply of BB tokens is capped at 2,100,000,000, with an initial circulating supply of 409,500,000 BB tokens (19.5% of the total supply) and Megadrop rewards of 168,000,000 BB.
Investor sentiment, as reflected in a survey by Oriole Insights, suggests price expectations for BB to be in the range of $0.3 to $0.5, with corresponding market caps estimated between $123 to $205 million. Other agreed-upon price ranges include $0.2 to $0.3 and $0.5 to $0.75, with associated market caps ranging from $81.9 to $307 million.
Mathew Guan's analysis highlights potential returns for users participating in the BB points program, where depositing $100 could yield significant rewards, particularly if the total value locked (TVL) reaches $1.3 billion by the end of the program.
With BounceBit's TVL currently around $871.14 million, and considering its upcoming mainnet launch and recent investments from prominent backers like Binance Labs, the platform is poised for further growth and expansion.
