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- BLD, alongside its underlying Agoric chain, provides lending and DeFi solutions.
- BLD price increased by 25.11% in the last 30 days.
- In the mid-term, the EMA showed that BLD can rise above $0.12.
In the crypto economy, it is not unusual to find so-called gems irrespective of whether the market is in a bull or bear cycle. But to refer to a cryptocurrency as a gem takes more than just the price but also the fundamentals.
This is one thing that has made Agoric (BLD) a token that has caught the attention of some market players. So, in this article, we will be exploring Agoric as a project, its underlying technology, price performance, and potential for the future.
What Does the Agoric Chain Offer?
Something about the Agoric project is the uniqueness it brings to its users. Unlike many projects with unending similarities, Agoric does not follow the crowd. This is why it uses the Proof-of-Stake (PoS) consensus mechanism to make blockchain programming secure and easy to access for developers.
Another interesting part about Agoric is how it focuses on the JavaScript programming language. For context, JavaScript is in high demand in the technology ecosystem. So, this means that Agoric can serve a plethora of smart contract developers, which in turn, could have a positive effect on the BLD token.
An in-depth look at the Agoric project showed that it was already partnering with other projects to help developers and users. One example is its integration with Babylon Chain.
⛓️Thrilled to unveil our integration with @agoric! Developers now have access to a user-friendly platform with seamless #Bitcoin timestamping, unlocking a realm of new opportunities and applications!https://t.co/l9Nv1gSf2m— Babylon (@babylon_chain) November 30, 2023
BLD Has Links to Cosmos and Inter Protocol
Babylon Chain is a project focused on Bitcoin (BTC) in a decentralized economy. With Bitcoin in the picture, BLD looks like a token that should be on traders’ radar. However, Bitcoin is not the only blockchain linked with Agoric.
Cosmos, the blockchain with the ability to connect with other blockchains is also linked with Agoric. The function of Cosmos on the project is to help with decentralized financial systems. Some other capabilities of the Agoric project include Dapps development and deployment.
Agoric also has a community-based decentralized application on its network called the Inter Protocol. Inter Protocol, with the help of its native token IST, allows staking and lending on the Agoric network.
So, users can collateralize crypto assets while minting IST in the process. Another interesting part of the Inter Protocol is that it offers BLD holders more than the regular IST holders.
This is because BLD holders can act as validators and stake BLD on the Inter Protocol. Also, the staked BLD can accrue rewards with no risk of liquidation.
At the time of writing, there are about 649.16 million BLD tokens in circulation. In total, BLD has a supply of 1.01 billion tokens. This means that there are less than 50% of the tokens left to be distributed.
BLD Rises, Shows Bullish Potential
Regarding the price, BLD changed hands at $0.1329. According to CoinMarketCap, BLD was 72.52% up from its all-time low. Additionally, the last 30 days brought about a 25.11% increase for the cryptocurrency. Meanwhile, BLD still maintains an 8.33% surge in seven days, at the reported time.
BLD 30-Day Price Performance (Source: CoinMarketCap)
From a technical point of view, BLD’s mid-term potential looks bullish. This inference was because of the Exponential Moving Average (EMA). On the daily BLD/USD chart, the 20 EMA (blue) had flipped the 50 EMA (yellow).
This crossover is a bullish signal, meaning the price of BLD could increase much more than $0.131. While there are chances that the BLD price might decrease, it also has enormous upside potential.
BLD/USD Daily Chart (Source: TradingView)
In conclusion, the BLD token mirrors a combination of solid fundamentals and good tokenomics. However, investors looking to buy the token should do more research about the project rather than depending on the information provided here alone.
The post Exploring the Untapped Potential of BLD Token: A Detailed Analysis appeared first on Coin Edition.