Cryptocurrencies
  • Analyst Josh Rager has expressed his bullish sentiment on very less known altcoins Antiample (XAMP) and Tokens of Babel (TOB).
  • Bill Drummond, creator of XAMP and TOB is looking to return cryptocurrencies to their origins and has created unique monetary policy to both ERC20 tokens.

As today reported by CNF, Bitcoin and Ethereum are in a consolidation phase that, according to the opinion of many analysts, could last for weeks. Meanwhile, investors should focus on two altcoins that, according to analyst Josh Rager, are highly bullish: Antiample (XAMP, rank # 554 by market cap) and Tokens of Babel (TOB, rank #2350 by market cap).

Who is Bill Drummond, the new Satoshi Nakamoto?

Created by the mysterious programmer Bill Drummond, Rager claims that these projects seek to take crypto back to its beginnings of “innovation and freedom”, principles that Bitcoin creator Satoshi Nakamoto considered fundamental to dismantling the traditional financial system.

Bill Drummond is a pseudonym that represents the developer or a group of developers behind Antiample and Tokens of Babel. In addition to seeking to return to the early principles, Drummond claims that he wants to defend users who “have little” and provide financial freedom to all who seek it. In other words, Drummond seeks to give individuals the tools to break free from traditional finance.

Tokens of Babel is, as a Medium article states, the first of many “Bill Drummond experiments”. Conceived as a new type of “adaptive commodity”, Tokens of Babel (TOB) is a gaming token that burns up a part of the supply when new all-time price are reached. In line with this, the token was developed under the concept of ownership proportional to market capitalization.

Therefore, TOB burning mechanism has a characteristic of rebasing that the creator qualifies as unique. This mechanism allows token holders to always own a fixed portion of the total token supply:

Rebases of TOB affect the number of tokens in your wallet, but not your overall share in the total supply. If you own 0.5% of the total supply, you will always own 0.5% of the total supply, regardless of the number of tokens in your wallet.

In that sense, TOB is designed to use the law of supply and demand to maximize the price of the token. Developed on the Ethereum network, TOB’s protocol will attempt to trigger the rebase mechanism every 12 hours. If the price of TOB has exceeded its all-time high, then 1% of the total supply will be burned. The mechanism is designed so that TOB price will always trend in an appreciative direction.

Antiample, Drummond’s previous project, is similar to Tokens of Babel. The coin was also developed on the Ethereum network as an ERC-20 token. Like TOB, XAMP has a constantly decreasing supply. The way XAMP works is as follows: When the value of 1 XAMP drops, the total supply is reduced by at least 1%. This makes the token theoretically worth more. XAMP, as its creators claims, takes the concept of a deflationary asset to the extreme.

Bullish predictions for XAMP and TOB

The renowned analyst Rager has expressed multiple times his bullish sentiment on XAMP and TOB in recent days. Via Twitter, Rager predicted that XAMP and TOB will rally now that they can be used to provide liquidity on the Ethereum based Uniswap to obtain ASH. This new token will only be available to investors when using XAMP/TOB to provide liquidity on Uniswap.

The announcement also prompted Rager to predict that these tokens will reach a new all-time high. According to their design, this will increase the value of the investment for their owners. In the case of XAMP, as another well-known analyst, Moon Overlord, explained, the rally could be parabolic. The trader shared the following chart.

Ethereum ETH

Source: https://twitter.com/MoonOverlord/status/1296964854193049600

As can be seen above, Moon Overlord predicts that XAMP will have a rally that will take the price from $0.017 to about $0.075. In that regard, the co-founder of Arrow Crypto stated the following:

It’s incredible that $XAMP started out as a small counterculture commentary on greedy VCs overrunning the space and may well end up one of the biggest community-driven defi projects of this cycle. I honestly love crypto sometimes.

(Excerpt) Read more Here | 2020-08-24 07:06:00
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.