$100M Buyback Offer For This Altcoin: Trigger Rise?

BitDAO, the second decentralized autonomous organization (DAO) with the world’s largest reserves, is worth $100 million. It is considering a proposal on BIT buyback.

BitDAO community December 19 It is evaluating the buyback proposal submitted to the vote on As the stagnation in the cryptocurrency market continues, the approaching of the Mantle projecton BIT increase in value The offer submitted with the expectation that it will provide 100 million USDT a buyback contains.

Offer, as of January 1, 2023 50 days daily throughout 2 million USDT At the end of the process, it offered a total of 100 million USDT worth of BIT purchases to the community. In the proposal, within the current market conditions, the DAO’s invest in own project than investing in other projects more logical It was argued that it would. Still in DAO’s treasury after buyback 300 million dollars worth stablecoin and 345 million dollars worth 270 thousand Ethereum (ETH) It is stated that the remaining assets will remain in the DAO. 5 years It was claimed that it could cover the developer costs.

The proposal received various reactions from community members. What to do in a bear market your best investment The DAO trusts its results investing in your own project many users saying that support gave. On the other hand, users who stated that there is no signal for a bull market in the market yet, are currently in the treasury. reduce stablecoin resources would not be a logical choice. stated.

Will BIT Rise After Buyback?

Experts, last 24 hour volume 5 million dollars levels and approximately 300 million dollars predicts that the market value of BIT will experience serious increases with this buyback.

The token, which has a total supply of 10 billion, is currently only 10% part is available in the market. Therefore 100 million dollars approval of the buyback offer, the tokens available in the market 35% from circulation means withdrawal. Analysts say that the BIT price will be the minimum due to the decrease in the number of tokens in circulation when the market value remains stable. 30% increase He thinks he should live.

According to Coinecko data, in the last 24 hour period 0.7% value winning BIT, at the time of writing from $0.278 is being traded.

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