Where there are tradeable assets, undoubtedly at least one auction is going to pop up soon. Or, as in this case, AUCTION — token powering Bounce, a protocol facilitating NFT auctions. To find out whether those native coins’ valuation is as exciting, you should look at some Bounce token price predictions below.
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Bounce Token Fundamental Analysis
Bounce is a decentralized auction protocol for NFT sales. It allows users to create, gather, collect and trade any kinds of digital assets, tokens, and non-fungible tokens across multiple blockchains. It’s available for the assets based on the Ethereum and Binance Smart Chain. The project was launched in mid-2020, performed over 6000 auction pools, and reached a transaction volume of 7000 ETH.
To create a competitive swap environment Bounce bases its activity on the scarcity of resources, thus benefiting the swap environment with a limited supply of coins and any other digital assets like NFTs. They can be auctioned through token sales or NFT auctions. The token sales with a limited amount of assets can be completed through a fixed swipe auction, Dutch auction (based on decreasing price principle), or sealed-bid auction (based on a hidden-price principle). NFTs are sold in the same way with the only difference - the number of tokens is always limited to a smaller number of assets (even just one unique piece).
Bounce works with most of the commonly used wallets such as MetaMask, Trezor, Coinbase Wallet, Binance Chain Wallet, etc. The team also works on supporting more wallets. The users can benefit from automatic execution, contingency, and the absence of permissions. It’s also possible to build your own NFT auction platform using the protocol.
AUCTION is the token currently powering the protocol, providing the possibility to mine the liquidity, govern the platform, and staking. It supports the incentives in the protocol and allows the holders to govern the network. The AUCTION token was mitigated from the “BOT” coin that went through a 1:100 swap.
Bounce Token Live Price Chart
Bounce native’s token price at the beginning of the year was bearish, though the price didn’t fall too much and started to grow significantly in the middle of March. On April 12 AUCTION token price reached its all-time high of $70.58 and then went through the correction still following a bullish trend till the end of May.
For the next three months — from the end of May till the beginning of August Bounce coin was bearish and reached its all-time low of $10.57 on June 14. But from August 5 the value started to recover and steadily grow with a short period of decreasing.
AUCTION token also moved along with the whole crypto market tendency and started to surge in October. On October 22 token price reached the highest level from its spring bull ride and the coin was traded for $58. Interestingly, token price swings a lot during the day, experiencing 40%-50% change within 24h.