While the price of the Boson asset had exploded when it was put on the market, the token seems today to pay for this very strong craze of the first day. Nevertheless, the last 3 weeks could have reversed the trend. So, is this the end of the eternal correction of the asset’s price? Elements of answer here!
Zoom on the Boson Protocol
The Boson Protocol focuses on the decentralization of online trading. What the group calls dCommerce. The vision defended by Boson Protocol is to remove the intermediaries of online trade. For Boson, the dCommerce is then central and must bring elements of answer on three axes:
- The goods exchanged between a buyer and a seller
- User data
- The money exchanged
In a very concrete way, Boson groups the commitment to buy and sell within a futures contract. These futures contracts are then represented as NFT commitment tokens. Commitment tokens that can also be purchased via “Things” tokens.
Boson is also trying to solve the problem of user data. Via Web3 Data Marketplace, it is then a question of monetizing user data in an autonomous way, while respecting the privacy of each individual.
Good to know: The model advocated and defended by Boson is based on certain principles of game theory.
Return on the BOSON Token Course
The following graph shows the price of the asset since its launch on April 9th.
After a first known price of 0,42 €, the token will start its quotation in apotheosis. The very next day, the price has already increased tenfold. With an ATH of € 5.92, on the first day on the markets.
This dizzying rise on the first day will lead to a first phase of correction for the asset. A correction of more than 10 days which will see the price of the token deviating of almost 50 %. Before a new bullish phase in two stages. On April 28, BOSON returned to the €4 mark. Good news for investors? Not necessarily. Given the inability of the share price to break through this barrier in the long term, a second correction phase began. In even more severe proportions. In the space of a month, the token loses more than 80% of its value. On May 23, a token was already trading for only €0.70.
The BOSON token will then begin a phase of stagnation of almost 2 months. Between the end of May and the end of July, the price of the token oscillates between 0,40 and 0,65 €. A first increase is to be noted on July 23, when the asset exceeds the €1 mark again. For 3 weeks, BOSON has been flirting with this symbolic bar. At the time of writing, one token is trading for €0.995.
In terms of marketcap, the project is currently at the doorstep of the top 500. With nearly 38 million euros.
What to expect from the project in the longer term?
The ambition of the project seems extremely high. Moreover, DeFi projects that tackle the problems raised by online commerce are still quite few. On this point, Boson could develop without suffering too much from the strong competition.
As far as prediction algorithms are concerned, the conclusions can be very different. DigitalCoinPrice is quite optimistic, with a token that could trade for USD 1.70 by the end of 2021. A token that could then flirt with $2 during 2022. As for WalletInvestor’s models, they are much more pessimistic and are still surfing on the bearish phase of the last weeks. According to their algorithms, a BOSON token could collapse to below USD 0.10 within 12 months.