Trend of Tokenization Series: A Snapshot on Bibox’s Quarterly Token Repurchase Program

An exchange token price, ‘Bibox Token (BIX)’, has rallied considerably during 1stquarter (especially in March) upon progressive market conditions, BIX rallied investors’ bullish sentiments as Bibox burned 1,509,044 BIX ($452K) in the latest repurchase, which approximately aggregates 1.3% of the prevailing disseminating supply. Well, this amount was computed based on 25% of the quarter’s net profits, that implies Bibox’ earnings were around$2 millions in profits in the Q1 of 2019.

The Bibox noted that the total burnt to date stands at 8,548,602, which is approximately 3.2% of the BIX total supply.

In last Month’s trading series, BIX has spiked considerably from the lows of $0.1499 (at the beginning of March) to over $0.55 levels (as of March ending), a jump of mammoth 266% (refer above price chart). 

Nevertheless, following the bullish event, the price of BIX token has pulled back of late more than 50% and is currently dropped -2.68% for the day $0.290521.

This bullish streak drives BIX to a market cap of massive $$31.791 million, which is the 13th largest among the AltDex Exchange Token Index. Bibox, as an eminent digital assets trading platform, is a mining intensive which is targeted for high-end decentralized projects. Bibox is known as an online cryptocurrency exchange based out of China. In addition to the crypto trading services, the platform deploys AI algorithms that execute optimal trades with the goal of maximizing returns. Courtesy: CoinMarketCap

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -86 levels (which is bearish), while hourly USD spot index was at -85 (bearish), while articulating (at 05:25 GMT). 

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