BULB - Speculation Outside Of The Ecosystem

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15 Apr 2024

Growth & Expansion
Bulb is a Read to earn, write to earn WEB3-based platform built on the Solana blockchain. Content creators, as well as the broader community, are able to earn BULB tokens by simply engaging and interacting with the content being published on the platform. BULB is yet another example of an opportunity within the incentivized economy. This new economic landscape operates predominately within the realm of WEB3, and is poised for significant growth.
Bulb has managed to garner the interest of WEB3 participants during the first quarter of 2024. Bulb kicked off the year with approximately 3K users, and within a month or two, it skyrocketed to 52K users. On the 13th of April, Bulb introduced liquidity for the BULB token. Unfortunately, this happened to coincide with the massive dump we saw unfold over the weekend. That being said, the token price has experienced a decent bounce, and is once again trading within a familiar range.
The introduction of liquidity helps to promote better trading conditions. However, trading on DEXs tends to be predominately by members of the community. The community is always a key aspect of success. However, true growth tends to take place outside the ecosystem. So, what do I mean by this? I will use the example of a similar platform that launched in the previous cycle, and how the token price was impacted by outside speculation.
Torum
Torum is a WEB3 SocialFi platform that launched all the way back in 2020. The XTM token had a presale value of $0.05 and initially began trading on PancakeSwap. It was during this period that the token ranged between $0.05 and $0.08. It was only after Hotbit listed XTM that the token began trading in the double digits. Hotbit was an exchange that was always first to list new projects. Sadly, it was a casualty of the FTX-induced carnage.
The first official and announced listing was on the KuCoin exchange. It was this listing that seemed to ignite the rocket fuel. An immediate pump of hundreds of percent was later followed by numerous pumps, which eventually led to XTM trading as high as $2.45. This is the power of broader speculation, and is only really attainable with the assistance of CEX listings such as KuCoin, Gate.io, and MEXC.
Binance is, of course, the ultimate listing, in terms of exposure. However, numerous listings on the above-mentioned exchanges can go a long way in increasing liquidity and volume. Volume is a key ingredient when it comes to micro-caps. When the market cap of a particular project is extremely low, any significant increase in volume will cause the price to skyrocket. Ultimately, it’s an adjustment of the ratios that govern supply and demand.

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You cannot multiply the demand without seeing the price responding. It’s this dynamic that makes micro-caps so attractive to knowledgeable investors. In my opinion, this is what the BULB token is in need of. The addition of liquidity is a good start. However, expanding into a more exposed and extensive marketplace will have profound results regarding the valuation and market cap of the BULB token.
If I am not mistaken, the market cap of BULB is still below $2 million, leaving plenty of room for significant price discovery and appreciation. The speculative trade of BULB needs to expand beyond its inherent ecosystem and community. Don’t get me wrong, the tokenomics and utility of the token are actually quite impressive. However, the next step is to introduce the broader Crypto community to BULB, and its future growth.
Final Thoughts
When it comes to alternative Solana-based SocialFi platforms such as Solcial, I believe Bulb holds the most potential. Not only that, but the tokenomics and utility of BULB are superior to Solcial, at least in my opinion. Provided BULB can make it onto a few CEXs and continue to offer an enjoyable and lucrative user experience, I believe the sky’s the limit. Anyway, that’s it for this one. See you next time!

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Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.