As the economic scene continues to rotate on the digital currency scene, a new entrant has emerged to cause a stir among investors and users of cryptocurrencies. This company, known as BOMBO, and it’s listed on the market under the BOMBO ticker, has been gaining much attention lately due to its work and results.
Presently categorized as the 5211th digital currency worldwide, BOMBO demonstrates high sustainability and vulnerability. The token cost $0.0001235 at the time of writing, and it has increased by a small percentage of 2.29% in the past one day. Such a gradual increase indicates that more and more people are developing a working knowledge of the project and the technology that it uses.
The token’s market capitalization shows that BOMBO has a current value of $123460 which is total value of all the tokens that are in circulation in the market. Even though this sounds small compared to other established players in the market, it is a substantial achievement for a relatively young player in the crypto industry. A high FDV of $123,470 of the project also supports its further growth and expansion.
Another thing that will catch the attention of investors in BOMBO’s recent trading data is its 24-hour trading volume of $4,310. This means that there is a very active market for the token, and there is always a lot of traffic, with a 74.70% increase in the trading volume. Overall the Volume to Market Cap ratio of 3.49 percent demonstrates that BOMBO is exhibiting healthy trading activity level in relation to its overall market capitalization a factor that is beneficial to both the intra-day trader as well as the long term investor.
All these factors that BOMBO plans to leverage make its tokenomics scalable and sustainable. The total token supply for the project is 999,960,000 BOMBO, while the maximum token limit is one thousand million. This FxM seeks to imbue the asset with scarcity and possible increase in value over time, a trend adopted by most popular cryptos. As of now, the circulating supply calculated based on BOMBO’s creators’ self-reported circulating supply figure is 999.96 million BOMBO, which means that the vast majority of all the tokens have hit the market.
The manner in which the project has presented the token distribution and circulation looks like a well-calculated blueprint for growth. Possessing a high percentage of tokens in circulation, BOMBO might well have a goal to make its tokens as liquid and easily accessible to traders and investors as possible. This might assist in creating trust from the traders and increase trading activities of shares from investors.
Unfortunately, certain elements, such as the area of applying BOMBO, the technology behind it, or even certain details about the project in general, are not reported in any of the sources provided here; nevertheless, it is popular in the market and is well-discussed in the circle of interested in cryptocurrencies users suffice to highlight that it has its demand. Perhaps it is providing certain novelties and fitting into specific niches in the sphere of blockchain, which might be the reason for its increased attention among traders and investors.
Potential buyers should approach BOMBO as they approach any other cryptocurrency investing with caution. The crypto market and, hence, the prices of many projects, including BOMBO, are characterized by high unpredictability. People interested in investing should approach this project carefully and read the whitepaper, evaluate the team, and analyze the technology behind the project before investing.
In the future, the company will be hoping to have a splendid run in the cryptocurrency market as BOMBO. If the project is capable of sustaining this growth and can also retain investor attention, it could possibly rise further up the cryptocurrency hierarchy. Still, it will only succeed if it is capable of fulfilling its roadmap, responding to the constant changes in the crypto sphere, and being useful in everyday life.
Finally, it is crucial to recognize that structurally, BOMBO is unique in the context of cryptocurrencies. It is a promising project with recently high market performance and, therefore, a balanced token distribution in tokenomics. With constant changes in the crypto market, the experience of BOMBO will be interesting for analysis of the processes that occur in the sphere of new types of assets. Whether Binance will grow to hold a predominant position in the crypto market is still a question, but it can be noted for sure – the marketplace has taken notice.
