In early November, Binance Labs invested in the field of decentralized science (DeSci) with the choice being the BIO Protocol (BIO) project. After nearly two months, BIO Protocol officially became the 63rd Binance Launchpool project. This confirms Binance's commitment and interest in this field.
The performance of the BIO price is not only significant for BIO investors in particular, but it can also affect the psychology of many other investors towards the DeSci field in general.
Also Read: Binance Labs invests in the DeSci field with BIO Protocol
What is special about BIO Protocol (BIO) compared to other Binance Launchpool projects?
BIO Protocol is a financial layer for decentralized science (DeSci) to accelerate capital and talent into on-chain science. Through BioDAO, a global community of scientists, patients, and investors collectively fund, develop, and co-own new drugs and therapies.
This solution promises to bring positive impacts not only on the investment aspect but also on the social impact. Unlike other potential projects with the participation of many VCs, Binance is the only VC investing in this project (the amount is not disclosed). And it is quickly being tested on Binance Launchpool as a way for the market to initially price the potential of DeSci.
Capitalization of leading DeSci tokens. Source: CoinMarketCap.Therefore, if BIO is priced high, other DeSci projects have more room to increase in price and have the potential to list on more major exchanges in the future. CoinMarketCap data shows that the total capitalization of the DeSci field is currently only around $700 million (without BIO), with a daily trading volume of less than $100 million. The success of BIO could cause this figure to increase many times, but this is still just an expectation.
How much can BIO Protocol (BIO) be valued when listed on Binance?
According to the project's announcement, BIO has a total supply of 3,320,000,000. Of this, 44% is distributed internally and 56% is distributed to the community. According to the Binance Launchpool announcement, 99,600,000 BIO will be distributed as Launchpool rewards. And the initial circulating supply of the project when listed on Binance will be 1.29 billion, equivalent to 39% of the total supply.
BIO token distribution. Source: bio.xyz- Compared to the fully diluted valuation (FDV) of new projects that have recently appeared on Launchpool such as Usual (USUAL) and Vana (VANA) with a range of $2 billion to $5 billion, BIO may have a price range of around $0.625 to $1.5 when listed.
- Meanwhile, the pre-market (Whales Market) price of BIO is currently around $0.6. The context of BIO's listing is different from other Launchpool projects in that the market sentiment at the end of December is no longer as strongly greedy as the previous month, which may affect the price range.
- Currently, BIO does not have any comparable projects in the same niche. However, this project has been favored by Binance for investment from the beginning, so it is likely that investors will also be interested in it and buy it back when it is listed.
In summary, the predicted BIO price may create a low around $0.6 and will be bought back below this level. However, due to the changing market context, the upward momentum of BIO may not be well maintained in the early period, the price will create a high in the range of $1 to $1.5 and adjust.
Also Read: TOP 5 low-cap Decentralized Science (DeSci) projects worth noting
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