Balls of Fate is a new generation company which operates in the sphere of cryptocurrencies and has the ticker symbol BOF. As it stands, the current price of this digital asset is $0.01898 While it has recently gained an increase of 16.29% in the last one day. BOF has been able to find its place within the market, and now has an 18,881,698$ in market capitalization placing it 3978th in the world rankings.
The 24 hour trading volume for Balls of Fate is $58,438 which is 54.39% higher than the previous 24 hours trading. The significant increase in trade volume indicates an increase in interest in, and availability of, the token. The volume to market cap ratio which is a measure used to compare the amount of trading volume to a given cryptocurrencies market capitalization currently stands at 0.31%. This figure suggests that BOF has an adequate trading activity in terms of its trading value.
An interesting fact for Balls of Fate investors and analysts is the company’s supply welfare level. BOF token details: total supply 1,000,000,000 tokens, token distribution according to tokenomics chart integral to the project. Notably, the same figure has been used to present the maximum coin circulation with the implication that any generation of more tokens is improbable in the future. This fixed supply cap again can act as an advantage, particularly the fear of inflation that most traders in cryptocurrencies value.
Trade volume and the number of BOF tokens in circulation have reached 1 000 000 000, which is 100% of the total. This indicates that there is no more BOF tokens to be mined, and all of them are now in the public domain, and none is locked up for future release. Transparency of this type in token distribution can be seen as positive by investors who seek clear understanding of a project which has its tokens listed on the platform.
If one takes the fully diluted market cap into consideration – the total supply of tokens – Balls of Fate is worth $18,975,072. This figure gives an idea of the potential market capitalization in case all tokens will be fungible and traded at current prices.
Like with all other cryptocurrencies particularly those in the lower market cap region, Balls of Fate has strengths and weaknesses. It is with much attention that I noticed that the price has been rising recently and the trading volume has also has also risen recently which may be a sign of the growing interest in the project. But a potential investor should do his own research on what the project is, the uses of such project, the developers behind such project, and even where the project is heading in the future.
The market has been volatile and thus volatility is highly expected within the smaller cap coins including BOF within short time. While such fluctuations are beneficial to those involved in trading, one can also see rather large risks in such a model. However, as usual, the investors should put a lot of consideration while undertaking such investments especially should only risk what they are willing to loss.
Unfortunately, there is no detailed information about the specific use case and the technology applied by Balls of Fate, however, the name of an organization can suggest that it works in the field of gaming and applications based on chance within the framework of the blockchain industry. A lot of Cryptocurrencies are in the process of finding their particular subsectors in decentralized finance (DeFi), or non-fungible tokens (NFT) or blockchain games and BOF could also be laying out its market where it wants to be.
The crypto community has a specific expectation when a project tries to solicit its support by anticipating what it needs. If Balls of Fate can provide good practical application or technological advancement of it, then perhaps Balls of Fate could gain more focus and funding. But these are small issues, and every businessperson will tell you that standing out in the congested market of cryptocurrencies is a tall order.
Over time as the project advances and gets more popular it will be worthy to see how the price of Balls of Fate will change, the adoption rate etc. Several months might prove to be important for such preparations in the development of the BOF as it aims at strengthening its position in the sphere of cryptocurrencies.
All in all, Balls of Fate can be considered as the interesting addition to the sphere of cryptocurrencies. However, due to its relatively poor performance in the recent months and it being clear about its token distribution, it has arguably garnered some attention in the market. As is standard procedure for any crypto-related investments, potential investors should research the subject by themselves and must take into account the fact that investing in cryptocurrencies is inherently high-risk.
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