BAX Fundamental and Technical Analysis - Nov 6th

5 нояб. 2023 г.

BAX Token (BABB)

// FUNDAMENTAL ANALYSIS //

Project Details:

Name: BABB
Token: BAX
Platform: Ethereum
IsThisCoinAScam Safety Score: OK (30/100)

Market Information (As of November 4, 2023):

Market Cap: $13.5 million
Market Dominance: 0.0011
24-hour Volume: $136,564
Price: $0.000215

Project Statement:

BABB is a decentralised banking platform leveraging blockchain, AI, and biometrics to provide global access to a UK bank account for peer-to-peer financial services. It aims to address the unbanked population of 2 billion people worldwide. BABB provides physical Debit Cards (Mastercard Accepted) for hassle-free spending and financial management

Key Features:

BABB is regulated and licensed in the UK, offering security to users.
It partners with banks, insuring GBP funds up to £85,000 or $100,000 USD.
Users can open UK accounts, even from the US.
Fast deposits and wire transfers with global expansion plans.
BABB offers free deposits and fast transfers to other app users.
The platform allows users to store, send, and buy crypto.

Their achievements in 2022 during the bull market cannot be understated.This is very compelling.

2022

Currency X Launch: BABB introduced Currency X™ Stablecoins, starting with GBPx, reducing fees and enhancing stability.
Contract Upgrade: BAX received an upgraded smart contract, ensuring security and multichain compatibility.
Eastern Europe Expansion: BABB partnered with LHV Bank from Estonia to broaden its network in Eastern Europe.
Payment Infrastructure: BABB reinforced its payment infrastructure for real-time fiat on-ramp and off-ramp in preparation for the Currency X™ bundle of stablecoins.
Active Hyperledger Fabric Research: BABB engaged in research on the Active Hyperledger Fabric, with further details forthcoming.
Enhanced Security: BABB improved app security with eKYC, 2-factor authentication, CAPTCHA checks, and backend enhancements.
DeFi 2.0 Adoption: BABB embraced the DeFi 2.0 trend by developing hybrid wallets with legacy bank accounts.
App Enhancements: BABB introduced an updated look and feel for the app, including stablecoin wallets and advanced features.

Upcoming/Ongoing in Roadmap

⊛ Launch the Hybrid Money Accounts and debit cards
⊛ Add CurrencyX trading pairs
⊛ Raise Series A equity
⊛ Introduce BABB’s own Mainnet project
⊛ List BAX in more exchanges (Tentative)


Security

Security Score: 18%
Date reviewed by Cer.live: 05 Nov 2023

Security Details: N/A
Platform Audit Coverage: 0%
Insurance Score: 0%
Bug Bounty Score: 0%


Markets:

BAX is listed on three exchanges (Kucoin, MXC and Bittrex)

Token Holders
Etherscan shows there are 2,937 BAX token holders, which has decreased in recent days by 0.068%. There have been 18,700 transactions with the BAX token. Kucoin holds 49% of the supply. The second largest holder holds 15% of the supply.


// SENTIMENT ANALYSIS //

Fear and Greed Index

70 out of 100. Greed. Bullish.

Social Followings

X Followers: 36.00k
Reddit Subs: 2.28k
Telegram Followers: 895


I asked, “Why do you guys like BAX?” on X

Answers

Long-Term Faith: One user mentions holding BAX for the long term and values it as a matter of faith in the project.

FCA Regulation: BABB (associated with BAX) is mentioned as FCA regulated, and the upcoming launch of the first FCA regulated Layer-1 Blockchain is seen as a significant advantage.

Potential: BAX is seen as having significant potential, and users express optimism about its future impact on the financial industry.

Comparisons to XRP: Some users draw parallels between BAX and XRP, suggesting that BAX's development and potential may resemble XRP's early days.

Defi and Technology: BAX is mentioned in the context of the DeFi (Decentralized Finance) world, and users seem interested in its technology and fundamentals.

Lack of Telegram Community: A user notes that there aren't many participants in the BAX Telegram community compared to its potential.

Mention of Negative Aspects: There's a mention of concerns about BAX, including allegations of token printing and potential losses.

In summary, the reasons people like BAX appear to include faith in its long-term potential, FCA regulation, its technology, and comparisons to other successful cryptocurrencies like XRP.



// TECHNICAL ANALYSIS

Marketcap Rank

On CoinPaprika, BABB has a Marketcap ranking of 654 compared to Telcoin (201) and DFX (983).

Liquidity
Slightly more sell pressure than buy pressure.


Return Rates:

Compared to exactly one year ago, BAX is up 248% while Telcoin is up 0.9% and DFX is down 74%.

In the past quarter, BAX is down 7% while Telcoin is up 65%, and DFX is up 82%

All-Time High Data

ATH: $0.003377
Date: 27 Apr 2018
Days Since ATH: 2019 days
It is down -93.61% since the ATH
Gains required to return to ATH: 1464.32%

All-Time Low

The current price of BAX is up 355,132% since the all-time low on Oct 03, 2021, which is actually pretty impressive. Especially considering the ATL was not the start price of the token but came after the all-time high on April 25, 2018. Think about that. It means it rallied to the heights. Then, it crashed back down. Then, it is currently 3551x higher than it was two years ago.


Kucoin Price Chart on TradingView
(Data goes back to April 2021)
Coingecko data goes back to March 2018

MACD on the weekly has broken out to the upside.
MACD on the daily did a bearish cross to the downside

Volume slowly picking up

Daily MA Cross is still a while off.

If we can hold this powerful resistance level and turn it to support we will be targeting $0.0003 next.