Box or DeBox which was introduced and planned to trade with a symbol known as BOX has just joined the cryptocurrency market. This new generation token is designed to disrupt the platform for decentralized social media with a new concept for content creators and consumers. According to the current information, BOX’s price is $0.05631 with an impressive Rise of 14.12% in the course of the last 24.
At the time of writing, DeBox has a market capitalization of $4.48M making it occupy the 2743rd place within the overall cryptocurrency ranking. Even though it has a small market capitalization of $56M, DeBox has considerable trading volume, $2.7M traded in tokens in the last day. Which ranks it at #643 based on it’s 24-hour trading volume showing high demand and depth for the token.
About DeBox, one has to carefully acknowledge its volume to market cap ratio which as of now is as high as 60.49%. This high ratio means there is active turnover in the amount of tokens circulating in the market against the backdrop of a relatively small volume, which could mean increasing adoption and demand from investors as well as users.
The circulating supply according to the firm’s report is 80 million BOX tokens which is 8% of the overall issue. There are 1 billion DeBox tokens planned for circulation, and the same quantity has been defined as the maximum quantity of tokens that may be created. These include the fixed supply that make a token scarce as demand rises; aspects that may lead to price appreciation with time.
The circulating supply of DeBox tokens is calculated currently at 15 Million tokens while the total max supply is 100 Million, hence DeBox’s fully diluted market cap is $56.31M. This metric gives relative value of the project if all tokens are in circulation and gives a long-term vision to the investors.
DeBox is to establish a relatively more decentralized environment for social media where content producers and consumers can all play a more active role. Here, the platform is needed to solve many problems that are characteristic of the conventional social networks – the problem of data protection, the problems of censorship, and the problem of the unfair monetization model. Product/Service description: Founded on the principles of blockchain, DeBox will allow people to engage and share content safely and efficiently owing to a more effective user-centered design.
Among the noteworthy aspects of the DeBox platform is to integrate modern tokenomics. Staking of the BOX token is used for voting on issues concerning the ecosystem, for paying the content creators and for unlocking additional functions. The BOX tokens can be earned by content creators directly from their viewers; in this way, there are no middlemen who take a share of the profits, the authors get fairly paid.
The receipt for the BOX token which is involved in the governance part also gives the holders the right to decide on some certain crucial matters pertaining the platform, specifically its further evolution. This democratic strategy guarantees addressing community concerns and striving toward the coherent interests of users, creatives, and developers.
It also includes modern privacy elements through which users will have more control over their data. The platform also wants its users’ data to be secure from hackers and revengeful ex-partners, and for this reason, they have integrated Decentralized storage solutions and Encryption techniques in their platform.
Especially, the newly raised 14.12% within one day has attracted the eyes of many crypto fans and investors. This upward movement could be due to a number of reasons and this include; enhanced sensitization on the project, advancement on the roadmap for the platform among others or rising consumption of content from creators.
Like any other emerging altcoin venture it is prudent for investors to research on the project before investing in new cryptocurrencys. Though DeBox is quite ambitious in the decentralized social media environment, the cryptocurrency market is variable and fluctuating.
Thus, future success of DeBox will greatly depend upon the company’s capability to increase the fidelity and usage frequency of the identified user base, consisting of content contributors and consumers. The team behind the specific project will have to pay specific attention to the interfaces, scalability and constant updates on the elements of the platform to meet the typical blockchain and social media standards.
Finally, we really got to know DeBox as a fresh addition to the cryptocurrency market that is expected to transform social media platforms with the help of decentralization and tokenization concepts. As a result of DeBox’s focusing on the advanced creation and sharing of content together with a commitment to protect user privacy and a reasonable utilization of money-making strategies, this project can successfully occupy a large segment of an increasingly expanding decentralized social networking market in the near future. It will be rather intriguing to see how this project will manage its course and cope with the future obstacles and prospects as applied to the constantly evolving and rather competitive context.
