BSoV: Year 2 is Around the Corner
Cryptocurrency has changed and evolved tremendously since the last time I took the time to write about BSoV, a project that I hold near and dear to my heart. Most of all the original holders and project contributors are still active, but we’ve seen newcomers arrive and carry on the efforts of growing the project. I myself have moved on and focused more on individual goals, but with so much happening in and around BSoV, it felt right to share with my readers.
For those of you not familiar with BSoV, you can check out a previous write up I did here and learn about the fundamentals.
To the surprise of many, hashrate has dipped with the growth of crypto and networks like Ethereum in general. Hashrate has dropped for the time being but there is a solid explanation and evidence that it will return to past levels. Being an ERC20 token, ETH transaction fees are at a all time high. With the roll of out of ETH 2.0 around the corner, we hope to see the mining process get cheaper with the ensuing reduction in gas fees, so the BSoV chain can continue burning tokens and mining new blocks.
Rouse, one of the most active community members who hosts the BSoV website, and helped pioneer the BSoV Cube Timelock Contract Concept, has revamped the projects website to provide a more smooth and calm feeling for those stumbling cross BSoV.io.
The current contract statistics can be seen above. Almost 4 million BSoV have been minted. We expect that as Ethereums gas fees become more reasonable, we will see a rise in hashrate which will in turn help produce more BSoV for the community to hold.
BSoV has also seen some wild swings in price, with the price pumping all the way to $0.25 before holding resistance at the $0.098 level, which has been a line of support in the past months. If BSoV’s supply can remain scarce, it can draw investors in as an alternative Store of Value to Bitcoin and other legacy cryptos.
With many social media sites like Twitter and Tik Tok positioning new investors and cryptocurrency users for success with options other than Bitcoin and Ethereum, the future price outlook is wide open. Many users are strictly looking for low market cap “gems" that can skyrocket in price to produce high returns (ie. Doge, BCH, ETC). BSoV remains that, with a lot of room for growth, but time is on its side in a way other projects can brag about.
With a PoW consensus backing its floor value, BSoV looks to stay strong around current levels while the market drives itself forward by retaining key holders and further having the community lock tokens for the long term and partake in viral marketing efforts.
With BSoV’s birthday around the corner, the community will be in full gear to spread the word and showcase what makes BSoV a Store of Value that can’t be matched through its deflationary mechanisms and algorithmic value. Find out more about BSoV @ BSoV.io, and look out for more information on community happenings in celebration of BSOV’s second birthday!
Pertinent Links:
- Website: https://www.BSoV.io
- Twitter: https://twitter.com/BSOV_?s=09
- Coinmarketcap: https://coinmarketcap.com/currencies/bitcoinsov/
- Coingecko: https://www.coingecko.com/en/coins/bitcoinsov
(I write articles, reviews, and Litepapers for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)
Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk.
