Why is BIT rising? In this article, we evaluate the price trend of BitDAO and a potential BitDAO price forecast for 2023. The BIT has been on a solid rising trend for the past week and has climbed by 31.14% since then. BitDAO has recently demonstrated a high potential, and you should consider whether or not this offers a good opportunity to invest.
The project aims to construct a decentralized, tokenized, and accessible economy. DAO is managed by BIT token holders. This effort has created one of crypto’s largest DAOs. BitDAO strives to grow decentralized financial projects and partners. They do this by building DeFi products that can assist projects expand.
The initiative focuses on research and innovation to boost DeFi ecosystem liquidity and also provide investment. The DAO’s partner protocols are given liquidity through blockchain technology. The DAO’s native token, BIT, is used for governance. Peter Thiel and Alan Howard are among the funders of BitDAO, which launched in 2021 with over $200 million in private sales.
✅ BIP-18: $BIT Purchase Program, Jan 2023 has passed.
? The Target Daily Purchase Amount (TDPA) will be set at 2.0M USDT per day starting Jan 1, 2023 for 50 days (total 100M USDT).
? Read the full proposal: https://t.co/F3SyRZ0tUJ
— BitDAO (@BitDAO_Official) January 2, 2023
This announcement was posted on Twitter by the official BitDAO account. This proposal updates the parameters for BIP-12 and BIP-9: BIT Purchase Program.
How It Works
It works like other crypto DAOs. Token holders oversee and administer it. Token holders can manage BitDAO’s actions and services. This is done thru proposals and voting. The project’s research and development plan establishes centers that recruit outstanding talent around the world to assist BitDAO flourish. Blockchain developers, product and design professionals, and community managers are needed.
BitDAO Price Analysis
As of today, January 2nd, the live price of BitDAO is $0.347, and over the past 24 hours, BitDAO has had a price increase of 1.29%. The current cryptocurrency ranking is #48, and its live market cap is above $726 million. On November 12, 2021, when BitDAO was trading at its all-time high price of $3.08, the cryptocurrency attained its all-time high price.
The year 2021 was the best year for BitDAO in terms of performance because the price of BIT climbed by 20.26%, going from $ 1.614 to $ 1.941. The year 2022 was the worst year for performance for BitDAO, as the price decreased by -82.49%, going from $ 1.941 to $ 0.340.
BitDAO Price Prediction
When the current price of BitDAO is compared to its price history over the past 30 days, it can be seen that the value of BitDAO has increased by 4.168%. The month’s minimum price ranged from $0.30 to $0.35 on average, with $0.30 being the average of the lowest price. This indicates that this coin is an appropriate asset that may be added to your current list of coins for the long term.
It is anticipated that the cost of one BitDAO will not drop below the value of $0.32 until the year 2023. The price of BitDAO has the potential to reach a high of $0.36 while maintaining an average trading price of $0.35 during the year 2023. The sentiment around the BitDAO price prediction is currently neutral.
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