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    Biconomy Exchange Token

    BIT

    Rank #2609

    $0.000005120

    -1.17%
    24H Low$0.000005110
    $0.00000524024H High
    24H Volume
    $1.82 M
    All-Time High(ATH)
    $0.0002797
    All-Time Low(ATL)
    $0.000002660
    Market Cap
    $1.56 M
    Fully Diluted Valuation
    $3.32 M
    Market Cap/FDV
    46.86%
    Circulating Supply
    303.73 B BIT
    Total Supply
    648.11 B BIT
    Max Supply
    1000 B BIT
    Market Sentiment
    Neutral
    * Data from 3rd parties

    Biconomy Exchange Token (BIT) Price Trends

    Time period
    Change amount
    % Change
    1H
    $--
    +0.11%
    24H
    $--
    -1.17%
    7D
    $--
    -0.094%
    30D
    $--
    -25.73%
    1Y
    $--
    -14.33%

    Credibility Indicators

    64.02

    Reliability Score

    Rank #1

    # 3108

    Percentile

    TOP 25%

    Live Biconomy Exchange Token (BIT) Price Update

    Biconomy Exchange Token price today is $0.000005120 with a 24-hour trading volume of $1.82 M, and as such Biconomy Exchange Token has a market cap of $1.56 M, giving it a market dominance of 0.00011%. The Biconomy Exchange Token price moved -1.17% in the last 24 hours.

    Biconomy Exchange Token reached its highest price on 2021-10-23 when it was trading at its all-time high of $0.0002797, while its lowest price was recorded on 2021-09-06 when it was trading at its all-time low of $0.000002660. The current lowest price since the last cycle high was $0.000002660, and the highest price since the last cycle low was $0.0002797. The social sentiment of Biconomy Exchange Token is currently Positive.

    The current circulating supply of Biconomy Exchange Token is $303.73 B BIT. In terms of market cap, Biconomy Exchange Token is currently ranked 2609.

    About Biconomy Exchange Token (BIT)

    With billions of dollars in assets, BitDAO is a decentralized autonomous organization (DAO). It was incubated in 2021 by the large derivatives exchange, Bybit. But BitDAO is not a company and has no management team or employees. Rather, it consists of a group of builders and stakeholders who hold BIT tokens and lead the project to success. BitDAO now focuses on Web 3.0 users, products and public utilities. It strives to create a mutually beneficial ecosystem.

    Along the way to vigorously developing DeFi and supporting Web 3.0 builders, all users can promote cooperation or upgrades like BitDAO, and these proposals are all voted by BIT token holders to approve or reject. The virtuous circle of Bybit's financial support and value creation by AE and partner labs has injected funds into different industries, blockchains and products, and particularly into the development of Web 3.0 tools and technologies in industries such as arts, education, media, finance, gaming, and technology.

    BitDAO positions itself as one of the largest DAOs in the world. By virtue of decentralized assets, decentralized technologies and decentralized organizations, its mission is to create an unimpeded economic model. Web 3.0 is a collective pursuit, and BitDAO shares the same vision for the future. It uses billions of assets to power autonomous entities (AEs).

    Within the industry, BitDAO has two missions:

    1. Support the builders of the decentralized economy and demonstrate the growth potential of DAO.
    2. Support all kinds of ideas and carry out a wide range of experiments, including the alignment of economic interests, governance, treasury management and organizational structure.


    How BitDAOBIT works

    BitDAO is an investment DAO that funds projects in a way that distinguishes typical venture capital from investment funds. The operation of BitDAO funds is entirely derived from the voting scheme, and the investment in the project will also help the development of the token-based decentralized economy.

    BitDAO initially raised $230 million through private fundraising, and Bybit also pledged to contribute 2.5 basis points of all futures trading volume to BitDAO’s vault, currently around $1 billion per year. With these funds, BitDAO first cooperated with SushiSwap, and exchanged 2.6% of the total BIT supply for the latter's governance and treasury business support.

    In the follow-up cooperation with Mirana Ventures, it allocated 33 million US dollars of funds for EduDAO, and offered 200 million US dollars worth of encrypted assets and projects such as Game7 and PleasrDAP to zkDAO. It provides these partners with research and development, liquidity, capital and operation support, promoting the project to become an industry leader. Members of the community have a strong will to deploy their funds to achieve their goals through different mechanisms and structures.

    Although it takes time for many projects to verify the rate of return, BitDAO's huge potential has become the subjective consensus of the entire DAO, and the total amount of tokens held in BitDAO's vault has exceeded US$1,103,000,000. At the same time, BitDAO will also support the development of blockchain technology through donations and support existing and emerging projects through token exchanges.


    What is BIT?

    BIT is the governance token of BitDAO. It was issued on MISO, the startup platform of encrypted projects on SushiSwap at the beginning of its establishment. It has a fixed supply of 10B tokens. Investors who hold tokens can delegate their voting rights to an address so that they can create proposals or vote.

    In terms of governance, holders create different proposals for DAO activity and vote on them. Although 60% of the BIT tokens will be allocated to Bybit, it is not immediately available, and 45% of the token supply will be locked for 1 year and gradually released within 2 years after the end of the lock-up period. So there is no need to worry about Bybit who will vote to decide the growth direction of BitDAO.

    In addition to entrusting some voting rights to partners such as Windanger Labs and Pentagon Labs, BIT tokens in the Bybit account can also be used to establish a R&D centre that supports BitDAO, give support to Bybit's business growth, and reward employees and stakeholders of Bybit/BitDAO R&D centers.

    In the final analysis, BitDAO is a DAO jointly governed by BIT token holders, so token holders can decide BitDAO’s decision-making and development. The value of BIT tokens is closely related to the success of the ecosystem, because after the passage of "BIP-9", BitDAO capital growth will be carried out through the dynamics of the program and the price of BIT tokens. Ordinary users can buy BitDAO's native tokens from cryptocurrency exchanges such as Gate.io, and become holders to govern DAO together.

    FAQs

    1. What determines the price movement of Biconomy Exchange Token?

    There are two schools of thought in determining the price of Biconomy Exchange Token.
    By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Biconomy Exchange Token, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Biconomy Exchange Token from a long term perspective.
    By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Biconomy Exchange Token on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Biconomy Exchange Token as well.
    Investors tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Biconomy Exchange Token and the cryptocurrency market as a whole.

    Biconomy Exchange Token Tokenomics

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    Biconomy Exchange Token Analysis

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