Agoric's native token, BLD, has experienced significant price fluctuations over the past year. In this analysis, we delve deep into the price potential of BLD by comparing its current valuation with its all-time high and discussing the factors that could influence its path back to its peak.
At its peak on the 30th of August 2022, BLD achieved an all-time high price of $0.7487 and a market cap of $458,082,362. As of the time of writing, the BLD token hovers around $0.1104, trading at an 85.24% discount from its all-time high.
BLD 1-year price chart. Source: Coinmarketcap
Market capitalization stands as a pivotal metric in discerning both the speculative demand and inherent value of a token. While BLD's current market cap narrates its story in numbers, integrating insights from trading volume and liquidity patterns can provide a fuller narrative of its potential trajectory.
Interestingly, BLD's daily trading volume has been on the rise, recently marking a 34.30% increase, which signals a surge in market activity. This, coupled with a yearly inflation rate estimated between 5% and 5.5% and a nominal staking APY of 12.8%, illustrates a promising framework for BLD's future performance.
Diving deeper into the specifics of BLD's supply inflation, Agoric has a capped maximum supply of 1.25 billion tokens, with a circulating supply of approximately 611.83 million BLD tokens at present. These tokens will be unlocked at a pre-determined rate and then allocated to stakers through Cosmos network validators. It's also worth noting that 33% of these tokens were unlocked 6 months post-sale, followed by a linear release of the remaining 67%. Notably, even locked tokens have the capability to be staked, and BLD tokens obtained from staking are immediately unlocked.
However, to gain a more rounded understanding, it's insightful to compare BLD's potential with other leading cryptocurrencies. For instance, Solana (SOL) hit an all-time high price of $259.96 on November 6, 2021, with a peak market cap of $80.965 billion. Currently trading at $20.06, investors could foresee a potential 900% return if SOL revisits its all-time high. Similarly, Cardano (ADA) offers an enticing 940% potential upside from its current trading price of $0.2506, considering its all-time high of $3.10.
Comparatively, BLD, too, has faced a dip from its all-time high due to supply-demand dynamics. The rising demand for Agoric, indicated by the recent uptrend in its price chart, suggests that the BLD token might experience a surge in trading value. Therefore, with BLD currently priced at $0.1104, Agoric investors could anticipate around a 578% gain, should the token retrace its steps to its previous all-time high.In the ever-evolving landscape of crypto, the potential of tokens like BLD is closely tied to a number of factors ranging from market dynamics to inherent utility. While BLD has shown signs of promise with increasing trading volume and a robust tokenomic structure, it's crucial for investors to stay informed and approach any investment decision with caution. As the crypto market continues to mature, only time will reveal the true potential of tokens like BLD.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.